New Iberia enterprise and independent observer., 1916-10-07

y the City of New Orleans, but such ce
: tificates shall be secured as herein ar
: as otherwise provided for by said act
d subsequent legislative authority not
conflict herewith; provided, howeve
I that paving certificates, for which tt
faith and credit of the City of New O,
f leans shall be pledged, whether issue
5 under the aforesaid Act No. % of 191-
or under subsequent legislation, shall nc
. at anv time be outstanding in an amour
in excess of Five Million Dollar
($5 ,OOO,OOO) in face value.
r Section 13. The total issue of bond
by the City of New Orleans for all put
poses shall never exceed ten per centun
of the assessed valuation of the prop
erty in said city; provided, however, tha
neither tho bond. issued for water, sew
erage and drainage purposes tnamely
the $i2,OOO.OOO Public improvement
Bonds issued under said Act No. 3 o.
1890 and the $S.OOO.OOO New Public I'm
provrmcnt Bonds ,saucd under Act No
10 OF the General Assembly OF the State
OF Louisiana Tor the year 1906, and acts
1
thereto. as we'll AZ such bonds. hereby OF
hereafter authorized. into which the
aforesaid bonds or any part thereof may
bc rciundcdl, nor the $2.OOO,OOU Public
! Belt Railroad Bonds authorized by Act
! No. l79 OF the General Assembly of the
State OF LOUISIANA for tho year 1908, nor
any bonds hereafter authorized for PUB
nc Belt Railroad purposes, nor any
| bonds which may hereafter be issued for
water supply or for the acquisition o,
construction of any revenue producing
public utility, nor any paving certificates
primarily chargeable against special as
sessments for street paving, shall be in
cluded in computing the indebtedness OF
said City of New Orleans under this linn
ltation; and provided further, that emerg-
ency bonds may be issued as authorized
N 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
% the limitation herein fixed at the time
or times that same shall be issued; but,
With respect to An other bonds that may
oe issued hereafter under this amend
ment there shall be included in the COM
putation said Nine Million Dollars oi
bonds, notwithstanding the fact that eli |
of said Nine Million Dollars Of bonds |
shall not have been actually issued, AMI !,
;uch amount Of emergency bonds as
aay oe then outstanding.
Section II. The Board of Liquida-
lion, City Debt, as now organized ana
treated and with the powers, duties anu
functions prescribed by existing ..ws
and by this amendment, shall be con-
tinued while any bonds authorized by
this amendment are outstanding and
unpaid; and all taxes which may be
levied for the payment of said bonds
shall, day by day as collected, be paid
over to said Board, and shall by it bel
applied in payment Of the principal ana
interest of said bonds; and said board
shall with respect to all bonds authorized
~ this amendment be entitled to ex-
.rcise all the rights and enforce the yer
tormance Of all the obligations, the
same as it is authorized to 40 under laws
existing at the time Of tho adoption Of
his amendment with respect to any Of {
he presently outstanding bonds Of saio 1
;ity of New Orleans. All funds, p1op-I $
:rty and things of value held by the i
3oazd Of Liquidation, City Debt, for {
'onded debt purposes e.her than taxes e
low or hereafter levied, and particularly /
II funds, property and things OF value r
low or hereafter held by SAID Board un 4
er Act No. 1873 Of the General Assembly b
f the State Of Louisiana for the year p
$50 and all amendments thereto, shall +
'hen released from contract obligations n
( dedications imposed by laws existing O
t the time Of the adoption of this o
mendment be used and employed in C.
he discretion of said Board in paymen, t
nd retirement Of any bonds of n
,e City of New Orleans then outstand- d
g. a
Section IS. For general municipal CT
urposes, exclusive OF the support and p
maintenance of the public schools and
,e payment of the bonded debt of the t.
ity Of New Orleans, said city may in p
lch year levy upon all taxable property p,
thin said city q tax not exceeding ski &C
i'd one-half mills on the dollar of the. th
thereof; provided, N
,wever, that when the one per cent debt q
x authorized by said Act No. Ito Of p,
go and the two mill water and sewer B.
< authorized by said Act No. of 1893 81
all both have ceased to be levied, and be
thereafter the taxes levied by the City eli
New Orleans in any one year for
'nded debt purposes be less than ten IA
ills, said city may in such events levy c.
< its general purposes such additional ch
< which, when added to the tax of six Of
d one-half mills hereby authorized m
d the taxes levied for the payment he
the principal and interest Of its bonds su
they seve1ally mature, shall not ex 50
ed in the aggregate sixteen and one Ith
If mills. pr
Section Is The reservation of twenty sal
Z cent Of the revenues of the City of es,
W Orleans shall not hereafter be made Di
directed by Section 40 Of the Act No. Of
Of the General Assembly of the J..
ate of Louisiana for the year 1912, ex- tai
,t insofar - the fund 80 directed 10 lea
reserved shall have been appropriated Pu
dedicated before this amendment cit
Ess effect to the payment of any OBJ tic