Tensas gazette., 1916-09-15
PROPOSED
AMENDMENTS
TO THE
CONSTITUTION OF LOUIS
lana
Adopted at the Session of the
Legislature of 1916.
To Be Voted On at the Congress
sional Election.
Act No. 4

debts OF the City of New Orleans and
of the Board of Directors of the Pub
Ito Schools. Parish of Orleans, re-
spectively the issuance OF serial bonds
by said city. the purpose for and the
manner in which same may be issued
and the duties and functions or the
Board OF Liquidation City Debt with
reference thereto; and the levying by
the City of New Orleans and the
Board OF School Directors, Parish of
Orleans. respectively. of certain taxes
for general municipal and school pur-
poses; and providing for the submis-
sion OF said amendment to the eIec.
tors Of the State for their approval
or rejection.
Be IL enacted by the General Assem-
bly, of the State Of Louisiana, two-thirds
OF all the members elected to each house
concurring, that subject to the ratlhca-
tion and approval of the electors OF
the State, the Constitution of the state
be amended by Incorporating therein
the following provisions. to-wit:
Section 1. 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 body of said municipality,
adopted by a vote OF two-thirds of ali
the members of said council or govern
ing body. shall have power and is here
by authorized to issue Nine Million Dol,
lars G9, ,000, ,000) of bonds, to be styled
city of New Orleans Serial Gold
Bonds" and to bear such rate of inter-
est as the Board of Liquidation. City
Debt. may fix from time to time as each
fnstallment of said bonds is offered for
sale as hereinafter provided
Section 2. Three Million Dollars (S3,-
000, ,000), in par value, of the bonds au-
thorized by Section of this amendment
shall forthwith be sold.
The proceeds of said three million
dollars of bonds shall be applied exclu-
sively to the following purposes and In
the following order:
(a) The payment Of the outstanding
Bonds or the City OF New Orleans" is
sued under Act No of the General As
sembly of the State of Louisiana ror
the year 1906. which bonds shall be
called for payment and paid as soon as
OBJ The payment of the principal OF
the. floating Indebtedness of the
Board Of Directors of the Pub
evidenced by note or, notes out
standing at the time of the adoption
OF this amendment to an amount nc
exceeding Six Hundred and Fifty Thou
sand Dollars $65o.ooo); provided that
in the event that said Indebtedness or
any part thereof shall have been paid
by said Board out of its current reve-
nues previous to the adoption OF this
amendment. the amount thus paid (not
20 exceed $650.000. however), shall be
paid over in cash to said Board to ne
used by 1t for school purposes. as pro-
(c5 The payment Of the sum of Five
Hundred Thousand Dollars S500,000D.
with interest thereon. borrowed by the
City Of New Orleans for storm emergen-
cy purposes in the year 1915;
(d The payment of the Overdraft or
other Indebtedness due by the City of
New Orleans to its fiscal agents or other
banks representing loans or advances
made by them to said city. other than
those referred to in paragraph (c) or
this section. to an amount not exceed
swe2
Of One Million Three Hundred and FIJI
ty Thousand Dollars G1.35o.o0o); and
(e) The balance of said proceeds
shall be used and employed by the
Board Of Liquidation. City Debt: for the
Gates Of the City Of New Orleans. as set
forth in Section Of this amendment.
Section 8. Inc remainder of the
bonds authorized by Section l Of this
amendment. or so much thereof as may
be necessary, shall be sold from time 10
time in such amounts as the Board or
Liquidation. City Debt, may determine.
shall be applied by said Board to the
payment of Public Improvement Certifi-
Gates authorized by Act No. Sc of the
General Assembly of the State OF Louis
lana for the year 1908. and acts amenda-
tory thereof. and presently outstanding
or issued at any time in payment or
any contract made before this amend
ment takes effect. at their respective
maturities or when said maturities can
be anticipated upon terms satisfactory
to said Board.
amendments thereof. as well as all stat
utes upon the same subject. and so
much Of Acts No. 12S and No. 270 of
the General Assembly of the State or
Louisiana for the year 1910. and other
statutes on the same subject matter. as
may AFFECT, apply or pertain to the City
of New Orleans be and the same are
hereby repealed; nevertheless Public
Improvement Certificates may be issued
in the manner provided by said Act No.
66 Of 1908. and amendments thereof. in
payment OF any contract made before
Section 4. The City of New Orleans
may also issue and negotiate its bonds
when authorized by a 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
said property taxpayers and who are
otherwise qualified to vote under the
Constitution and laws OF this State
adopted by vote Of two-thirds of all
the members of the Commission Coun-
ell. or Its successor as the governing
body OF said City Of New Orleans. and
tion is ordered shall be also adopted by
a,vote OF three-fourths of all the MEM
bsrs OF the Board of Liquidation. City
, Debt. Due notice OF said election shall
be published for thirty days in the OFF,
cial Journal of said city flour weekly
insertions of said notice constituting a
publication for thirty days. provided
thirty days intervene between the date
of the first Insertion and the date of
Z said elecIon).
No bonds shall be issued under this
section for any other purpose or for
any greater amount than that stated IN
the submission of the proposition to
said taxpayers.
Section g. In case of fire. f,ooo. p..-
thence. 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
fts successor as the governing BODY or
said city. concurred In by q three
fourths vote OF all the members of the
borrow money and issue and negotiate
bonds in such sum. not exceeding Five
Hundred Thousand Dollars Cs50o. .o00).
a. shall be necessary In any one such
Section s. For the purpose OF re-
indsbt.dness n Of the city Of New Orleans
existing at the time Of the adoption of
this amendment. bonds may from time
60 time be issued and negotiated. When
city outstanding at the time Of the adop-
tion OF this amendment. shall become
oallable according to their terms or the
statutes under which they are respec.
lively issued. or when the consent of
Sonds can be secured. the Board of Ii
Quidation. City Debt, shall have the
right In its discretion to call and pay
any one or moro OF said issues OF bonds,
and shall Be- authorised by resolution
bonds to provide the funds necessary
Tor that purpose: provided. however,
that In no event shall the par value OF
ths bonds % sold and negotiated ex-