The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1916-10-14

issued under the aforesaid Act No. % of
1914, or under subsequent legislation, shall
amount in excess of Five Million Dollars
(S5, 600, 000) in face value
Section H. The total issue Of bonds by
the City Of New Orleans for all purposes
assessed valuation OF the property in said
city; provided, however, that neither the
drainage I purposes U snamely, the 81, ooo
600 Public Improvement Bonds issued
under said Act No. OF 1899 and the
100000 New PUBLIC improvement Bonds
issued under Act No. 19 of the General
Assembly OF the State Of Louisiana for
the year 1906, and acts amendatory there
of and supplemental thereto. as well as
such bonds, hereby or hereafter author
lied, into which the aforesaid bonds or
any part thereof may be refundecl, nor
the s2.0O0.000 Public Belt Railroad Bonds
Assembly OF the State OF Louisiana for the
year 1908, nor any bonds hereafter au-
thorized for Public Belt. Railroad pur-
poses, nor any bonds which may hereafter
be issued for water supply or for the
acquisition or construction OF any revenue
producing public utility, nor any paving
special assessments for street paving,
shall be included in computing the -ndebt-
edness of said City of New Orleans under
this limitation; and provided further. that
emergency bonds may be issued as au-
thorized in Section of this amendment
even though said limitation shall have
DttH PROVIDED tnal the nine MIL
lion Dollars OF bonds authorized by Sec
ton i of this amendment shall not be
subject to the limitation herein fixed at
the time or times that same shall be
issued; but. with respect to any other
bonds that may be issued hereafter under
this amendment there shall be included
in the computation said Nine Million
that all of said Nine Million Dollars OF
bonds shall not have been actually issued,
and such amount OF emergency bonds as
may be then outstanding.
Section II. The Board OF Liquidation,
City Debt. as now organized and created
and with the powers. duties and functions
prescribed by existing laws and by this
amendment, shall be continued while any
bonds authorized by this amendment are
outstanding and unpaid; and all taxes
said bonds shah. day by day as collected,
bespaid over to said Board, and shall by
II be applied in payment of the principal
and interest OF said bonds; and said board
shall with respect to all bonds authorized
by this amendment be entitled to exercise
all the rights and enforce the performance
OF all the obligations, the same as 1t is
authorized to do under laws existing at
the time OF the adoption of this amend
ment with respect to any of the presently
outstanding bonds of said City of New
Orleans. All funds, property and things
OF value held by the Board of Liquidation,
City Debt, for bonded debt purposes other
than taxes now or hereafter levied. and
particularly all funds, property and things
OF value now or hereafter held by said
Board under Act No. 1888 of the General
Assembly OF the State OF Louisiana for
to-. shall when released from contract
obligations or dedications imposed by laws
existing at the time of the adoption of this
amendment be used and employed in the
discretion of said Board in payment and
retirement of any bonds of the City of
New Orleans then outstanding.
Section Is. For general municipal pur-
poses. exclusive Of the support and main
tenance of the public schools and the pay
ment OF the bonded debt of the City OF
New Orleans. said city may in each year
levy upon all taxable property within said
city tax not exceeding six and one-haif
mills on the dollar of the assessed valua-
ton thereof; provided. however, that when
the one per cent debt tax authorized by
said Act No. ITO of 1890 and the two-mill
water and sewer tax authorized by said
Act No. of 1899 shall both have ceased
to be levied. and If thereafter. the taxes
levied. by the City of New Orleans in any
one year for bonded debt purposes be less
than ten mills. said city may in such
events levy for its general purposes such
additional tax which, when added to the
tax of six and one-half mills hereby
authorized and the taxes levied for the
payment OF the principal and interest Of
its bonds as they severally mature. shall
not exceed in the aggregate sixteen and
one-half mills.
Section IT, Inc reservation of twenty
per cent OF the revenues of the City Of
New Orleans shall not hereafter be made
as directed by Section 40 of Act No. 1853 of
the General Assembly of the State Of
far as the fund so directed to be reserved
shall have been appropriated or dedicated
before this amendment takes effect to the
payment of any obligation of the City of
New Orleans, and said reserve fund Of
each year, when released from the obi
cations charged against it by law and
of the adoption of this amendment, shall
be used for general municipal purposes.
Section II. For the support, mainte-
N norr orxd - -
public schools in the City of New Orleans.
the Board of Directors of the Public
Schools, Parish of Orleans. or its legal
not exceeding three and one-haif mills, as
said Board shall deem necessary, which
levy shall be certified by said Board to
governing body OF the City Of New Or
leans. which shah cause the tax to be
entered upon the tax rolls Of said city
properly in said city as assessed s edAa and
valued for city taxation purposes; and
said tax shall be collected by said city and
Public Schools. Parish of Orleans, day. by
day as collected.
Said tax shall be in lieu of all taxes,
appropriations and funds now authorized
or directed to be levied or contributed by
the City of New Orleans for public school
purposes, either by said Act No. ITO of
1890 or other provisions of the .Constitu-
ton OF this State All constitutional pro-
visions to the contrary. as well as Act
No. 262 of the General Assembly Of the
State of Louisiana for the year 1914.
ratified as an amendment to the Consti-
| tuition Of this State, are hereby abrogated
and repealed; and the City of New Orleans
shall have no power or authority to use
| or employ any of its taxes or funds for
! the establishment. support or maintenance
of the public schools, directly or indirect
~. except as herein authorized: provided,
however. that the City of New Orleans
shall administer. use and employ all the
funds, property or things of value now or
hereafter held by il under any special
legacy, bequest or donation made or to
and shall carry out and execute the con,
ditions of all such special legacies, be-
quests or donations that have been here
tofore made to and accepted by said City
of New Orleans and all such as may here
after be made to and accepted by said city.
Secfinn Is For the ni1rnose Of ei,rir O