New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1916-09-16

Wy the City of New Orleans. but such &c,
X tltcates shall be secured as herein an
r as otherwise provided for by said act {
I'd subsequent legislative authority not i
conflict herewith provided. however
st that paving certificates, for which tn
faith and credit of the City of New Or
IT leans shall be pledged, whether issue
Is under the aforesaid Act No % of 1o1 4
1t or under subsequent legislation. shall no
e at any time be outstanding in an amour
IN excess Of Five Million Dollar,
II tx5.O0O,00O) in face value
II Section Il. The total issue Of bond
by the City Of New Orleans for all pu,-
- poses shall never exceed ten per centun
+ OF the assessed valuation of the prop
7 erty in said city; provided however, thai
neither the bonds issued for water, sew
ersge and drainage purposes lnamely,
I the S12,0OO,000 Public improvement
: Bonds issued under said Act No 8 of
7 1899 and the $8,O0OOO0 New Public I'm
provement Bonds issued under Act No.
| ~ OF the General Assembly of the State
OF Louisiana for the year 1905. and acts
amehdatory thereof and supplement al
thereto. as well as such bonds hereby OF
hereafter authorized, into which the
aforesaid bonds or any part thereof may
| be retundedl. nor the Sl0OO.OUO Public
| Belt Railroad Bonds authorized bv Act
No. lI9 of the General Assembly of the
| State Of Louisiana for the wear 1908. nor
any bonds hereafter authorized for PUP
lie Belt Railroad purposes nor any
bonds which may hereafter be issued for
water supply or for the acquisition OF
construction of any revenue producing
public utility. nor any paving certificates
primarily chargeable against special as
sessments for street paving, shall be in
Guided in computing the Indebtedness Of |
said City of New Orleans under this lin |
ltation, and provided further, that emery
ency bonds may be issued as authorized
in Section 5 of this amendment even
though said limitation shall have been
reached; provided that the Nine Million
Dollars of bonds authorized by Section
| 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 an other bonds that may
be issued hereafter under this amend
ment there shall be included in the com
putation said Nine Million Dollars OF
bonds, notwithstanding the fact that oil
of said Nine Million Dollars of bonds
shall not have been actually issued, and
such amount of emergency bonds as
may De then outstanding.
Section Ia. The Board of Liauida
tion City Debt, as now organized and {
created and with the powers, duties and {
prescribed by existing ,.ws
and by this amendment, shall be con +
tinued while any bonds authorized byI |
this amendment are outstanding and +
unpaid; and all taxes which may be l.
evied for the payment of said bonds I
hall, day by day as collected, be paid a
'ver to said Board, and shall by it be o
pplied in payment of the principal anu %
interest of said bonds; and said board h
hall with respect to all bonds authorized G,
" this amendment be entitled to ex- I;
rcise all the rights and enforce the per n
ormance of all the obligations, the II
anne as it is authorized to do under laws e,
visiting at the time Of the adoption Of al
mis- amendment with respect to any of ds
ne presently outstanding bonds of said fl,
ity of New Orleans. All funds, prop sa
rty and things of value held by the in
card of Liquidation, City Debt, for of
onded debt purposes other than take ev
nv or hereafter levied, and particularly be
funds, property and things of value pv
wv or hereafter held by said Board un- no
II Act No. 1873 of the General Assembly bv
the State of Louisiana for the year ne
40 and all amendments thereto, shall fu
hen released from contract obligations m,
1o1;Co al I,, l.,
the time of the adoption of this otl
nendment be used and employed in oh;
E discretion of said Board in payment ire
d retirement of any bonds of ma
E City of New Orleans then outstand del
=. ash
Section IS. For general municipal cen
rposes, exclusive of the support and pro
lintenance of the public schools and s
. payment of the bonded debt of the TO
ty of New Orleans, said city may in pre-
III year levy upon all taxable property pen
thin said city a tax not exceeding six con
one-half mills on the dollar of the. the
essedvaluation thereof; provided, Ne,
~ever, that when the one per cent debti GOV
au'norizeo oy SAID Act No. ITO of pro-
" ana the TWO mill water and sewer Boa
autnOIlZeu Oy SalO ACT NO. o OF 1917 Sha1
ii both have ceased to be levied, and be
thereafter the taxes levied by the City c;l
New Orleans in any one year for p
ded debt purposes be less than ten take
Is, said city may in such events levy Con
its general purposes such additional char
which, when added to the tax of six Of
one-half mills hereby authorized mitt
the taxes levied for the payment here
he principal and interest of its bonds succ
they severally mature, shall not ex- soev
in the aggregate sixteen and one the
INNS -, prop
''uon ~ Ahe reservation OF twenty said
cent of the revenues of the CITY of est;r
, Orleans shall not hereafter be made Dire,
ERECTED by Section 40 of the Act No. Of q
of the General Assembly of the Sc
e OF Louisiana for the year 1912, ex- tabli,
insofar as the fund so directed to leans
eserved shall have been appropriated Publ
dedicated before this amendment e;tbe
; effect to the payment of any OBJ ticipa
ion Of the City of New Orleans. and their