The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1914-08-29
ACT NO. 278,

House Bill No. 537--By Mr.. Jahncke.
JOINT RESOLUTION
Proposing an amendment to the Constitu
ton of the State Of Louisiana relative
to the issuance Of bonds and the levy
for by the City of New Orleans. to
create a lake shore park. to provide
for the administration of the park,
acquired in connection Herewith.
Section l. Be it resolved by the General
Assembly of the State of Louisiana, two
thirds of all the members elected to each
House concurring. That the following
amendment to the Constitution of this
state be submitted to the electors of the
State at the next general election for
representatives in Congress to be holden
shs tn nest isl tow ee
| Article l. That for the purpose OF &C
quiring the front of Lake Pontchartrain
from what is known as West End to
Milneberg. or such part thereof as may be
TdeempSS necessary. and advisable. as here
linafter set tie city Ct New Orleans
be, and it is hereby, authorfzeu e. sAses .
bonds to an amount not exceeding s.. 600. :
| O0O. 90, in denominations Of 500. 90. $500. 90,
81, 10000. payable fifty years after date,
with interest at the rate OF 1-2 per cent
per annum thereon, payable semi-annual-
~. and represented by coupons to be at
the payment of the principal and interest
of said bonds. there is hereby levied en-
nually a special tax on all the prope, ty,
Orleans, to the amount 81 six-tenths of
one mill on the dollar. which shall be col
llected the same as the other taxes due
diately paid to the Board of Liquidation
of the city of New Orleans where same
shall be held separate, in what shall be
known as the Lake Shore Park Bond
Fund" and to establish and administer
said park, there is hereby created a COM
mission of seven citizens and taxpayers,
male or female one from each of the
municipal districts Of the city OF New
Mayor of the city and confirmed by the
Commission Council as soon as this
amendment is adopted: such first APP
pointecs shall hold office respectively for
one, two, three, four. five, six and seven
years and at the expiration of each term,
their successors shall be appointed for
the full term OF seven years. and the
Mayor, in making the first appointments.
shall designate the term of office OF the
respective appointees. The members of
said Board shall name and elect their own
sation, but shall be allowed n secretary
and such clerical assistance as may be
necessary, this to be determined. and the
salaries fixed and paid by the BOARD OF
the necessary amounts for the other ex-
penses of said Board out of said tax.
The avails of said tax. in excess Of the
amount necessary to pay the semi annual
interest on said bonds and the expenses
of the Board as above set forth. shall he
Invested by said Board of Liquidation for
account of said fund. or they may pur,,
chase, at not more than par. with said
surplus at any time, and retire said bonds
and it, at any time, the surplus reaches
such an amount that the Board deems il
not advisable to hold same longerSand II
is not able to purchase said bonds at the
rate above stated. it shall then have the
right to call in any of said bonds, begin.
, ming with the highest number, but at not
, exceeding their market value.
Said bonds shall be sold at par and &C
!crued interest all at one time or Partially
| as said Board OF Liquidation may deter
mine. The Board herein created shall bf
known as the New Orleans Lake Shore
J tPask Board. and shall have thf right tc
purchase such property as maybe neces-
sary within the limits above specified, t6
establish thereon lake front bark. an6
to build a sea wall and to reclaim lane
from the lake by extending the sea wal
into the lake and filling the space between
same and the present shore line ana =.
: do all other work necessary to accompiisl
, the purposes herein provided for. and salt
, Board shall have the right to sell o.
: lease any portion of the properly acquired
: hereunder or reclaimed as may not %
!, necessary for park purposes. aid. In sell
3 ing same. to prescribe the con9itions un
1 der which same shall be held 3by prlvat
7 owners. with reference to the characle
D of buildings. sidewalks and other Improve
: ments to be erected thereonf The sai