The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1916-11-04
ACT NO. TIC.


Senate Bill NO. 96-By Leon r. Smiti
JOINT RESOLUTION
Proposing an amendment to tire Constitu
ton Of the State Of Louisiana, provid
ing for the funding of certain debts c
the City of Shreveport and judgment
against the said city, the issuance @
serial bonds by said city, providin
the purpose for and the manner Il
which same may be issued, and tn
duties of the City Council of the Cit
Of Shreveport. with reference thereto
and the levying by the City Council O
Shreveport of certain taxes to retir
the bonds as issued herein by sal,
city And providing for the submis
sion of said amendment to the elector
of the State for their approval o.
rejection.
Be 1t enacted by the General Assembly
of the State of Louisiana, two thirds Of al
the members elected to each branch
thereof concurring, that subject to the
ratification and approval of the electors
OF this State, the Constitution of the State
he amended by Incorporating therein, the
following provisions to-wit:
Section 1. The, City of Shreveport by a
four-fifths vote 81 all the members of the
City Council thereof, shall have power
and is hereby authorized to issue $500, O0C
of bonds, or so much thereof as may be
necessary, to be styled City of Shreveport
Serial Gold Bonds. and to bear such rate
of interest as the City Council may fix
from time to time. as each installment of
the said bonds is offered for sale, as here
after provided: said rate of interest at no
time to exceed per cent per annum
payable semi-annuaIly.
Section 2. The proceeds of said bonds
shall be applied to the payment and retire.
ment Of all certificates of indebtedness
issued by the City of Shreveport prior to
May i, 1916, and to the payment of all
judgments rendered against said city prior
to May !, 1916.
Section 3. All bonds issued under this
amendment shall be in such form. terms
and denominations. and payable at such
times and places. within a period of not
exceeding forty years from the date there
of, as the City Council of Shreveport shall
determine. Said bonds shall be issued in
serial form and shall be payable in annual
instaliments. commencing not more than
one year from their respective dates, and
the installment payable in each year shall
be SO fixed, that when the annual interest
is added thereto. the several annual total
of principal and interest to be
paid shall be as nearly equal as practi-
cable.
Said bonds shall be signed by the Mayor
and the Secretary Treasurer of the City
OF Shreveport. and countersigned by the
Commissioner of Accounts and Finances.
and the coupons shall have the facsimile
signatures of the Mayor and Secretary
treasurer In case any such officer whose 1
signature or counter-signature who ap-
pears on such a bond or coupon, shall /
cease TO be such officer before delivery of /
said bond or coupon to the purchaser,
'uch signature or counter signature shall /
nevertheless be valid for all purposes.
Section 4. The principal and interest of
III bonds authorized by this amendment
mall be payable in gold coin of the United
states OF America or its equivalent, of the
standard weight and fineness at the time
u the issuance thereof. and shall be ex-
mpt from all forms of taxation.
Section 5. The full faith and credit of
he City of Shreveport are pledged for the
ayment Of principal and interest of all
onds issued under this amendment. The
rincipal and interest of all bonds an
horized and to be issued under this
mendment, shall be paid out of tax which
hall be levied annually by the City Coun-
IL OF Shreveport, upon all taxable pron-
rty in said city. sufficient to provide for
he payment OF the principal and interest
said bonds as they respectively become !
ne. The tax so levied is to be in excess
the general and special taxes provided
Dr. elsewhere in this constitution and IS
OF to be affected by nor to affect the
mutations elsewhere contained in the
constitution as to the issuance of bonds
nd the levying of taxes by municipalities
Section 6. The provisions hereof areI
sn-cperai1ve and the City Council of
hrevepor' may by ordinance carry then,
to effect.
Be it further enacted. etc. That tbal
nendment proposed by this act shall he
lpmitted TO the electors of the State FOR
eir approval or rejection at the Con-
uesday after the first Monday in the
onth OF November. 1916: and there shall
printed on the officin ballot to be used
said election. the words,
INSTITUTION OF the State of louisiana
o vi for the funding of certain debts
the City OF Shreveport"
d the words, A
Against the proposed amendment 70 :,
e Constitution OF the State of Iouisiana | u
o ,so 1g Tor the funding Of certain debts NJ
And each elector shall indicate on the 6,
Hot cast by him whether he votes for -
against the proposed amendment ~
FERNAND MOUTON Ell
sut- Gov. and President of the Senate n.
HEWITT BOUANCHAUD, 81
eaker of the House of Representatives. III
Approved: July 5, 1916 ra
r. G. PLEASANT
Governor OF the State of Louisiana. ID.
true COPY. ~
AMES j. BAILEY. in