Tensas gazette., 1916-11-10
PROPOSED
AMENDMENTS
TO THE.
CONSTITUTION OF LOUIS
lana
Adopted at the Session of the
Legislature of 1916.
To Be Voted On at the Congress
SiOnai Election.
Act No. 4

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 Pub
lie Schools. Parish or Orleans. re-
spsctively 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 OF the
Board OF Liquidation. City Debt. with
reference thereto; and the levying by
che City OF New Orleans and the
Board OF Schoo, 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 cleo
tors OF the State for their approval
or rejection.
Be II enacted by the General Assem-
bly, Of the State OF Louisiana, two-thfrds
eoncvrring. that subject to the ratifica-
ton and approval of the electors OF
the State. the Constitution of the State
he amended by Incorporating therein
the following provisions. to-wit:
Section !. The City OF New Orleans.
by q 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 vote OF two-thirds Of all
the members of said council or govern
ing body. shall have power and is here
by authorized to issue Nine Million Dol
lars 0s.ooo.o0O Of bonds. to be styled
city OF New Orleans Serial Gold
Bonds" and to bear such rate OF inter-
est a. the Board OF Liquidation. City
Debt. may fx from time to time as each
installment OF said bonds Is offered for
sale ~ hereinafter provided.
Section 2. Three Million Dollars (S3.-
ooo.eoo). 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-
the following order:
(a) The payment OF the outstanding
and unpaid school Teachers Salary
Bonds OIL the City of New Orleans" is
sued under Act No of the General AS
ssmbly OF the State of Louisiana ror
the year 1906. which bonds shall be
called for payment and paid as soon as
(b) The payment of the principal of
Board ssr5 "a DredtSrs OF the Of
lie Schools. Parish of orleans.
evidenced by note or notes out
standing at the time Of the adoption
Of this amendment to an amount nc
sand Dollars (s650.Ooo); provided that
IN the event that said Indebtedness OF
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
70 exceed S650.000. however). shall be
paid over In cash to said Board to be
used by II for school purposes. as pro-
(c) The payment of the sum of Five
hundred Thousand Dollars (S5o0.0oo)
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
nthaP endeht Qdnala dnA hv fha Citv 0f
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
ing In principal and interest the sum
of One Million Three Hundred and Fiji
~ Thousand Dollars El.35o, ,Ooo); and
fel The balance OF said proceeds
Board Of Liquidation. City Debt. for the
payment of Public Improvement Certifi-
Gates of the City Of New Orleans, as set
forth in Section Of this amendment.
Section 3. Inc remuindef OF the
bonds authorized by Section I OF this
he necessary, shall be sold. from time 10
time in such amounts as the Board of
Liquidation, City Debt. may determine,
and the proceeds OF the sale thereof
payment of Public Improvement Certifi-
Gates authorized by Act No. 56 of the
General Assembly Of the State OF Louis
lana for the year 1908. and acts amenda-
or issued at any time in payment OF
any contract made before this amend
mont takes effect. at their respective
maturities or when said 'maturities can
% anticipated upon terms satisfactory
Said Act No. 5s of 1908 and all
amendments thereof. as well as all stat
1tes upon the same subject. and so
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
So OF 1905. and amendments thereof. In
payment or any contract made before
this amendment takes effect
Section I. The City of New Orleans
nay also issue and negotiate Its bonds
when authorized by a vote of q majority
In number and amount OF the property
taxpayers. who shall have been assessed
for property In said city as shown nv
the last assessment made prior to the
submission 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 vote OF two-thirds of ali
n
ell. or its successor as the governing
body OF said City of New Orleans and
which ordinance before any such elec-
tion Is ordered shall be also adopted by
= vote OF three-fourths of all the m-m-
osrs or the Board of Liquidation, CITY
Debt. Due notice OF said election shall
De published for thirty days I'm the on
siel Journal OF said city Uour weekly
publication for thirty Gays PROVIDED
thirty days intervene between the date
OF the first insertion and the date OF
said elecuon).
No bonds shall be issued under TIM.
section for any other purpose or FOR
any greater amount than that stated IN
the submission of the proposition to
eaid taxpayers.
Section S. In case OF fire. f,ooo n..-
thence. storm OF other public calamity.
the City or New Orleans shall have
power. by two-thirds vote of all the
memoer OF the Commission Council. or
Its successor as the governing bodv OF
said city. concurred in by a three
'fourths vote of all the members OF the
Board OF Liquidation. City Debt. to
borrow money and issue and nerotiate
bonds In such sum. not exceeding Five
Hundred Thousand Dollars (S50O. 900,
a. shall be necessary In any one such
Section s. For the purpose or re-
funding 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 adop-
tion Of this amendment shall become
cailabie according to their terms or the
statutes under which they are respec-
lively issued. or when the consent OF
all the holders OF any such issue or
bonds can be secured. the Board of Ii
Qufdation. City Debt shall nave the
light In its discretion to call and pay
any one or moro Of said issues of bonds,
s end :n:ii n.n. 3 :sthorizsd ~ ,or Sy resolution
hoaAs 70 provide ths funds necessary
fer tat purpose: provided. however.
thAs h - event shall the par value OF
De bo01s - sold and negotiated ex.
InoDA Ahn 0nS wnlnn AZ ShA tsnuAoA -