The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1916-11-04
CONSTITUTIONAL AMENDMENTS.
ACT NO. 4.


proposing an amendment to the Consti-
tuition OF the state OF Louisiana pro-
viding for: The funding OF certain
debts of the City of New Orleans and
OF the Board OF Directors of the Public
schools. Parish of Orleans. respective
~; the issuance of serial bonds by said
city. the purpose for and the manner
III which same may be issued and the
duties and functions of the Board Of
Liquidation, City Debt, with reference
thereto; and the Ieyying by the City
OF New Orleans and the Board Of
school Directors. Parish OF Orleans,
respectively. OF certain taxes for gen.
eral municipal and school purposes;
and providing for the submission OF
said amendment to the electors of the
state Tor their approval or rejection.
BE IL enacted by the General Assembly
VI the State OF louisiana, two thirds OF
all the members elected to each House
eoncurring, that subject to the ratifica-
aon and approval OF the electors OF the
state, the Constitution OF the state be
amended by Incorporating therein the fol-
lowing provisions. TO wit:
Section l. The City Of New Orleans, by
a vote OF three-fourths of all the members
of the Board of Liquidation, City Debt.
approved by resolution of the Commission
Council, or its successor as the governing
,ody OF said municipality, adopted by a
tote of two thirds oil all members of said
council or governing body, shall have
power and is hereby authorized to issue
20 be styled CITY of New Orleans Serial
Gold Bonds, and TO bear such rate of
interest as The Board OF Liquidation, City
Debt, may Tx from time to time as each
installment OF said bonds is offered for
sale as hereinafter provided.
section 2. Three Million Dollars 49,
voO,OO0), in par value, OF the bonds au-
thorlzed by section OF this amendment
shall forthwith be sold.
Inc proceeds OF sald three million
dollars of bonds shall be applied exclu-
siyeP' to the following purposes and in
The following order:
ta) The payment of the outstanding and
the CRY OF New Orleans" issued under
Act No. of the General Assembly of the
state OF Louisiana for the year 1906, which
BONDS shall be called for payment and
paid as soon as practicable;
tb) The payment of the principal of the
floating Indebtedness of the Board of d.
rectors OF the Public Schools, Parish of
Orleans, evidenced by note or notes out
standing at the time of the adoption Of
this amendment TO an amount not eX-
ceeding Six Hundred and Fifty Thousand
Dollars ts65o. 000); provided that, in the
event that SAID Indebtedness or any part
thereof shall have been paid by said
Board out OF its current revenues pre-
vlous to the adoption OF this amendment,
the amount thus paid mot TO exceed $685.
900. however, shall be paid over in cash
to said Board to be used by it for school
purposes, as provided by law;
tc) The payment of the sum of Five
Hundred Thousand Dollars $500, 000), with
interest thereon, borrowed by the City of
New Orleans for storm emergency pur-
poses in the year 1915;
(d) The payment OF the overdraft or
other Indebtedness due by the City of New
orleans 10 Its fiscal agents or other banks
representing loans or advances made by
them TO said city, other than those re-
ferred to in paragraph (c) of this section,
10 an amount not exceeding in principal
and interest the sum of One Million Three
hundred anu Fifty Thousand Dollars
Isl. 1850. 000); and
(e) The balance of saio proceeds shall
be used sand employed by the Board of
Liquidation. CITY Debt. for the payment
OF Public Improvement Certificates of the
City of New Orleans. as set forth in
Section of this amendment.
Session j.. The remainder OF the bonds
authorized by section / of this amend
ment, or so much thereof as may be
necessary. shall be-~sold. from time to
Liquidation, City Debt. may determine,
ana the proceeds of the sale thereof shall
be applied by said Board to the payment
of Public Improvement Certificates au-
Ihorized by Act No. 46 of the General
Assembly OF the State of Louisiana for
The year 1903, and acts amendatory there.
of, and presently outstanding or issued
at any time In payment OF any contract
MADE before this amendment takes effect.
at their respective maturities or when
terms satisfactory to said Board.
said Act No. Sc of 1908 and all amend
ments thereto. as well as all statutes upon
the same subject, and so much of Acts
No. 12S and No. go of the General As
sembly OF the state of Louisiana for the
year 1910 and other statutes on the same
pertain TO the City of New Orleans, be
and the same are hereby repealed; never
:heless Public Improvement Certificates
said Act No. Sc OF 1908, and amendments
thereof, in payment OF any contract made
before this amendment takes effect
Section A. The City of New Orleans
may also issue and negotiate its bonds
when authorized by vote of a majority
in number and amount of the property
taxpayers, who shall have been assessed
for property in said city as shown by the
last assessment made prior to the submits
sion of the proposition to the said property
taxpayers and who are otherwise qualified
to vote under the Constitution and laws
of this State. voting at an election called
by ordinance adopted by a vote of two
thirds of all the members of the Commits
sion Council. or its successor az the gov
erning body of said City Of New Orleans,
and which ordinance before any such
election is ordered shall be also adopted
by vote of three fourths of all the mem
bers of the Board OF Liquidation. City
Debt. Due notice of said election shall be
published for thirty days in the official
journal OF said city (four weekly insertions
of said notice constituting a publication
for thirty days, providing thirty days in
tervene between the date Of the first
insertion and the date of said electIon).
No bonds shall be issued under this
section for any other purpose or for any
greater amount than stated in the sub
mission Of the proposition to said tax
payers.
Section 5. In case of fire, flood, pesti-
lence. storm or other public calamity, the
city of New Orleans shall have power,
by a two thirds vote of all the members
of the Commission Council, or its sue
cessor as the governing body OF said city,
concurred in by a three -foprths vote of
all the members of the Board of Liquida-
ton, City Debt to borrow money and
Issue and negotiate bonds in such sum,
not exceeding Five Hundred Thousand
Dollars (S500.00O). as shall be necessary
in any one such emergency.
Section g. For the purpose OF refunding
sll or any part OF the bonded Indebtedness
OF the City of New Orleans existing at the
time of the adoption of this amendment,
bonds may from time to time be issued
and negotiated. When any OF the issues
OF the bonds of said city outstanding at
the time Of the adoption of this amend
ment shall become callable according TO
their terms or the statutes under which
they are respectively issued. or when the
consent of all the holders of any such
issue OF bonds can be secured, the Board
of Liquidation, City Debt, shall have the
right in its discretion to cali and pay any
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