The Donaldsonville chief., 1916-10-21

-"e
issued under the aforesaid Act Ne 2s Of
1914, or under subsequent legislator shall
not at any one time be outstandinE ~ an an
amount in excess OF rive Mllnon AsouaIs
| (s5, 900, ,000) In face value.
| Section Is. The total issue Of BONDS by
the City of New Orleans for all purposes
shall never exceed ten per centum of the
assessed valuation Of the property in said
city; provided, however, that neither the
bonds issued for water, sewerage ana
doo Pgepe Bonds @ issued
under said Act No. s of 1899 and the
| SS, 600, 900 New Public improvement Bends
Under 1s Of q 5ns for
the year 1906, and acts amendato there
of and supplemental thereto, as Well as
bonds hereby Or bod
any part thereof may be refunded2, nor
the $1,000, 900 Public Belt Railroad Bonds
authorized by Act NO. a79 Of the General zen. 4,d
year 1868, nor any bonds hereafter au-
| thorized for Public Belt Railroad pur-
poses, nor any bonds which may hereafter
acquisition or construction of any revenue
producing public utility. nor any paving
certificates primarily ehargeable against
shall she included sin computing the sndebt-
| edness of said CITY of New Orleans under
this limitation: and provided TurIner, IhaL
thorized in Section 5 of this amendment
even though said limitation shall have
been reached; provided that the Nine Mil
ton of this amendment shall not be
subject to the limitation herein fixed at
the time or times that same shall be
bonds that may be ISSUED hereafter under
this amendment there shall be included
in the computation said Nine Million
that ali Of said Nine Million Dollars of
bonds shall not have been actually issued,
and such amount of emergency bonds as
ss Section pe 1sh e. The Board of LEGISLATION
City Debt, as now organized and created
and with the powers, duties and functions
prescribed by existing a Jaws ana 2 by this this
bonds authorized by this amendment are
outstanding and unpaid; and all taxes
which may be levied for the payment Of
be paid over to said Board, and shall by
it 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
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
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. 1873 of the General
Assembly of the State of Louisiana for
the year 1880 and all amendments there
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 b.. For general municipal pur-
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
city tax not exceeding six and one-half
mills on the dollar of the assessed yalua-
ton thereof; provided, however. that when
said Act No 10 of 1890 and the two-niiil
water and sewer tax authorized by said
Act No.s6 OF 1899 shall both have ceased
to be levied. and # thereafter the. taxes
one year for bonded debt purposes be less
than ten mills, said city may in such
events levy for it's general purposes such
tax of six and one-half mills hereby
authorized and the taxes levied for the
payment pa. OF the principal and interest OF
Its bonds as they severally mature, shall
not exceed.in the aggregate sixteen and
one-half mills.
Section 16.. The 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. 159 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 pSay mt Of any Obligation Of the City Of
New Orleans, and said reserve fund of
each year, when released from the obli-
cations charged against it by law and
because be q, Of contracts existing at the time
be, used for general municipal purposes.
Section II, For the support. mainte
nance nance, construction and repair of the
the Board Of Directors of the Public
Schools, Parish of Orleans. or its legal
successor, sue . shall levy annually such tax.
not exceeding three and one-half mills, as
said Board shall deem necessary, which
levy shall be certified by said Board to
the Commission Council or other future
leans, which Shall cause the tax to be
entered upon the tax rolls of said city
according TO law against all taxable
paGppesty papeg fo IN os said city as assessed and
said tax shall be collected by said city and
paid over to said Boarl of Directors Of the
PublIc Schools, Parish of Orleans, day by
Said tax shall be In lieu of all taxes,
appropriations and funds now authorized
or Or directed to be levied or contributed by
pausgoses, either by 6said Act No. 110 Of
1890 or other provisions Of the Constitu-
ton of this State. All constitutional pro-
visions to the contrary, as well as Act
No. 2s2 of the General Assembly Of the
state of Louisiana for the year 1914,
fat!fled as an amendment to the Consti-
and repealed; and the City of New Orleans
snaH nave 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
funds, property or things of value now or
hereafter held by it under any special
legacy, bequest or donation made or to
be made directly to it for school purposes,
ana ana shall carry out and execute the con-
ditions of all such special legacies, be-
quests or donations that have been here
OF {. New Orleans and all such as may here
after be made to and accepted by said city. |
Section 49, For the purpose of giving
additional support to the Public Schools,
the Board of Directors of the Public |
Schools, Parish of Orleans. or its legal
successor, may levy upon all taxable |
property in the City Of New Orleans d
special tax not exceeding two mills on the |
dollar of the assessed valuation of said
(Which special tax shall be in |
excess Grfhe taSAbuthorized by Section II /
of this a1nendTnent), whenever "a in the |
manner prescribed by Act No. 256 of the /
General Assembly Of the State of Louis |