The Era-leader. [volume] (Franklinton, La.) 1910-current, 1914-09-24
ACT NO. 278.
House Bill No. 537--By Mr. Jahncke
JOINT RESOLUTlON

JO!NI KESOLUllON
Proposing an amendment to the Constitu-
ton Of the State of Louisiana relative
to the issuance of bonds and the levy
ing of special tax to provide there
for by the City of New Orleans, to
create a lake shore park, to provide
for the administration of the park,
and for the sale of certain property
acquired IN connection herewith
Section !. 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
on the Tuesday next following the first
Monday in November, 1914. to-wit:
Article /. That for the purpose of aC-
curing the front of Lake Pontchartrain
from what is known as West End to
Milneberg, or such part thereof as may be
deemed necessary and advisable, as here
matter set forth, the city of New orleans
be, and it is hereby, authorized to issue
bonds to an amount not exceeding $4,000,
100000, in denominations Of $4,000, $500. 90,
81, 10000, payable fifty years after date,
with interest at the rate of 1-2 per cent
per annum thereon. payable semi-annuai-
ly, and represented by coupons to be at
tached to said bonds; and to provide for
the payment Of the principal and interest
Of said bonds, there is hereby levied IN
nually a special tax On all the proper ty,
real and personal, in the city of New
Orleans to the amount Of sX-tenths Of
one mill on the dollar. which shall be COL
lected the same as the other taxes due
to the city of New Orleans and be imme-
tliateIy 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 COM
mission of seven citizens and taxpayers,
male or female. one from each Of the
Orleans, who shall be appointed by the
Mayor of the city and confirmed by the
Commission Council as soon aT this
amendment is adopted, such first APP
pointees shall hold office respectively for
one. two, three. four five, six and seven
| their successors shall be appointed foi
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 Owr
officers and shall serve without compen'
sation. but shall be allowed n secretary
and such clerical assistance as may bt
necessary, this to be determined. and tht
salaries fixed and paid by the Board O.
Liquidation, which shall also fix and pay
the necessary amounts. for the other ex
penses of said Board oht of said tax.
The avails Of said tax, in excess Of th'
amount necessary to pay the semi -annua
interest on said bonds and the expense
of the Board as above set forth. shall b
invested by said Board Of Liquidation f.
account of said fund, or they may pur
chase, at not more than par, with SAT-
surplus at any time, and retire said bonds
and if, at any time, the surplus reache
such an amount that the Board deems !
not advisable to hold same longer and
is not able to purchase said bonds at tn
rate above stated, it shall then have tn
, right to call in any Of said bonds. begin
} ming with the highest number, but at no
, 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 b
3 Park Board, and shall have the right
r purchase such property as may be neces
i sary within the limits above specified,
r establish thereon Il lake front park, an
\ to build a sea wall and to reclaim lar
S from the lake by extending the sea wa
!. into the lake and filing the space betwee
same and the present shore line. and
: do all other work necessary to acconaplis
& the purposes herein provided for. and sa
}, Board shall have the right to sell
y lease any portion Of the property acquire
= hereunder or reclaimed as may not
n necessary for park purposes, and in Sc
IS ing same, to prescribe the conditions n
n der which same shall be held by priva
y owners. with reference to the charact
% of buildings, sidewalks and other improv
l. ments to be erected thereon. The Sa