The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1916-09-30
CONSTITUTIONAL AMENDMENTS.
ACT NO. 4

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
al which same may be issued and the
duties and functions of 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 gen.
erai municipal and school purposes:
ana providing for the submission OF
said amendment to the electors of the
state for their approval or rejection.
BE il enacted by the General Assembly
vi the state of Louisiana, two-thirds OF
ali the members elected to each House
soncurring, that subject to the ratifica-
non ana approval OF the electors OF the
state, the Constitution of the State be
amended by Incorporating therein the fol-
lowing provisions. to wit:
section /. The City of New Orleans, by
a vote 1f 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
lody OF said municipality, adopted by
.ote OF two-th thirds OF all members OF said
council or governing body, shall nave
power anu is hereby authorized to issue
Nine Million Dollars (sy,VOO,0O0) or bonds,
% DE STYLED City of New Orleans Serial
Gold Bonus" and 10 bear such rate of
interest as the Board OF Liquidation. City
DeDt, may Xix from time to time as each
lnsIailment OF said bonds is offered for
safe as hereinafter provided
section Z. Three Million Dollars C3,-
v0UOO0), in par value. OF the bonds au.
IhorIzed by section l of this amendment
shall forthwith be sold
The prOceeds of said three million
dollars OF bonds shall be applied exclu-
siyely 10 the following purposes and in
the following order:
ja) The payment of the outstanding and
unpaid school Teachers Salary Bonds of
The CRY OF New Orleans" issued under
Act No. 2 OF the General Assembly of the
state OF louisiana for the year 1906, which
bonds shall be called for payment and
palu as soon as practicable;
tb) The payment of the principal of the
floating indebtedness of the Board OF Di-
reciors OF The Public Schools. Parish OF
standing at the time of the adoption OF
this amendment to an amount not ex-
ceeding six Hundred and Fifty Thousand
Dollars (s650,00O); 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-
Vious to the adoption of this amendment,
the amount thus paid mot TO exceed $780,
900, however), shall be paid over in cash
10 said Board to be used by il for school
purposes. as provided by law;
(c) The payment of the sum of Five
Hundred Thousand Dollars lS5O0. OO0), 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 TO Its fiscal agents or other banks
representing loans or advances made by
Them 10 SAID city, other than those re-
ferred to in paragraph (c) of this section,
TO an amount not exceeding in principal
and interest the sum OF One Million Three
hundred and Fifty Thousand Dollars
tSl,S5O, 000), and
te) The balance of saio proceeds shall
be used and 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
-sassion of this amendment.
sectfon~S. The remainder Of the bonds
authorized by~Section i Of this amend
ment. or so mucfr--thereof as may De
tme, in such amounts as the Board OF
Liquidation, City Debt, may determine,
ana the proceeds of the sale Thereon shail
be applied by said Board 10 the payment
of Public Improvement Certificates au.
thorized by Act No. 46 of the General
Assembly of the State of Louisiana for
the year 1908, and acts amendatory there
OF. and presently outstanding or issued
AT any time in payment Of any contract
mace before this amendment takes enect,
at their respective maturities or, when
said maturities can be anticipated upon
terms satisfactory to said Board.
said Act No. SO OF 1905 and all amend
ments thereto, as well as all statutes upon
the same subject, and so much of Acts
No. LIS and No. go of the General AS
sembly OF the state OF louisiana for the
subject matter. as may affect, apply or
pertain TO the City of New Orleans, be
ana the same are hereby repealed; never
may be issued in the manner provided by
said Act No. Sc of 1908, and amendments
thereof. in payment of any contract made
before this amendment takes effect.
Section 4. The City of New Orleans
may also issue and negotiate its bonds
when authorized by vote OF 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 submis-
sion of the proposition TO the said property
taxpayers ana who are otherwise qualined
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 Commas
sion Council. or its successor as the gov
erning body of said City Of New Orleans,
and which ordinance before any such
election is ordered shall be also adopted
by a 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 flour weekly insertions
of said notice constituting publication
Tor thirty days, providing thirty days IN
tervene between the date of the first
insertion and the date of said ,elecuon).
No bonds shall be issued under this
greater amount than stated in the sub
mission of the proposition to said tax
payers.
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. OF us sue
csssor as the governing body of said city.
concurred in by a three-fourths 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 $500. 0O0), as shall be necessary
in any one such emergency.
Section 6. For the purpose OF refunding
all 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
consent of all the holders of any such
issue 90 bonds can be secured. the Board
-, hall