The Natchitoches enterprise. (Natchitoches, La.) 1888-1965, 1916-09-21

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. Nheh
any the issues of the bonds or saIo
city outstanding at the time of the adop-
tion OF this amendment shall become
callabie according to their terms or tHe
statutes under which they are respec-
lively issued or when the consent OF
ali the holders of any such issue OF
! bonds can be secured, the Board OF IL
quidation. City Debt, shall rave tne
| right in its discretion to call ana pay
any one or more of said issues OF Don IS
and shall be authorized by resolution
duly adopted to issue and negotiate
bonds to provide the funds necessary
for that purpose; provided, hoWeFeis.
! that in no event shall the rar value o.
| the bonds so sold and negotiated ez-
| ceed the par value Of the bonded IN
dehtedness thereby to be refunded.
Section T. The full faith and cre1l1
| of the City of New Orleans are pledgeG
for the payment of the principal and IN
terest of all bonds issued under this
amendment.
authorized by and to be issued under
this amendment shall be paid primarily
| out of % that one-half of the surplus
! of the one per cent debt tax which here
tofore has been dedicated for the sup
port and maintenance of the public
schools of said city. as levied under ana
authorized py Act NO 10 OF the Cen
! eral Assembly Of the State CT Louisiapa
for the year 1890, and subsequently
made part of the Constitution of this
| State, and CD, alter January /, l9ZS
| that portion of the one per cent dept
tax, authorized and levied under Act NO
| 11o aforesaid. and the two-rnfll tax au-
| thorized by and levied under Act NO .
| of the General Assembly OF the state
of Louisiana for the year 1893 whlcn
| shall have been released and free1 from
dedication either by the calling ana re-
funding or the payment in due course
of all or any part or the Doads eSistims tiiiS
amendment; provided that. II the funis
derived from the sources aforesaid shalI
/ be insufficient in any one year 70 pay
the principal and interest OF the bones
issued under this amendment and then
outstanding and unpaid, or II Tor any
cause there shall not be funds appro-
priated' to or available for such purpose
the City of New Orleans shall levy
tax upon all taxable property in SAID
city sufficient to provide fer any such
deficiency: and provided further tnat,
when the aforesaid one pei cent oepI
tax and two mill water ana sewer tax
shall cease to be levied, the City OF
! New Orleans shall levy tax upon all
taxable property in said city sutticlenI
to pay the principal and interest OF
said bonds as they respectively become
due.
all existing dedication and appropria-
thorized by said Act No 110 Of 1890 Tex
cent with respect to the said one-hau
of the sunElus of the one per cent DEBT
tax therein dedicated to pubic schooIsl,
and of said two-miH water ana sewer
tax, authorized by said AcS No. or
1899, shall be respected and performer
according to the prioritfes by SAID stat
utes established; that all of that portion
of the funds resulting from the levy of
said taxes which shall be released from
said appropriations and dedications py
the payment, satisfaction or refunding
of any Of the bonded debt obligations
now charged thereon and there-againSt
shall, together with the one-nalf OF the
surplus of the one per cent debt tax
heretofore dedicated to public school
purposes be used and applied to the
payment of the principal and interest OF
all bonds Issued under this amendment
that any residue thereof remaining after
the payment of the principal and inter
est n any ore year of bonds authorized
1 n flife ar7a anen Shail he tlarned over
vefien a4ld to the extent that the 0blfea
tons now charged on said taxes shall be
paid satisfied or refunded, said taxes
shall be released from said obligations,
and ultimately. when entirely released
and discharged, shall cease to be levied;
and that, thereafter, any ana all bonds
Gsued under this amendment shall be
provided for by tax upon all taxable
property in the City. of New Orleans
sufficient to pay the principal ana In
terest of said bonds as they respectively
become due. provided, however, that IN
the event the funds herelnanoye speEoiai "a
" dedicated for tile payment OF the
principal and interest of the bonds is
sued under this amendment sholRd prove
insufficient the City Of New Orleans
In every such instance tax upon ali
taxable property in the City Of New Or
leans necessary to pay the prIncfpai
and interest of said bonds.
n raIaa aVIlu Ell nn NJ
Of all bonds authorized by this amend
ment shall be payable in gold coin OF
the United States Of America, GT III
equivalent, Of the standard Of weight
and fnefaess at the time of the issuance
of each installnent of said bonds.
Said bonds shall be exempt from all
taxation for State. parish, nJunicipal or
other local purposes.
/ tors OF interdicts, trustees ana other
fduciaries may invest the funds in their
hand In said bonds.
Said bonds may be used Tor deposit
with any officer, board municipality ~
other political subdivision OF the state
of Louis siana In any case where by pres
ent or future laws deposit or security is
Said bonds may be registered and re-
leased from registry under such rules
es the Board OF Liquidation, City Debt
may prescribe.
Section 10. All bonds Issued under
this amendment shall bear sach rate OF
interest or, from time to time, different
rates Of interest, and SHALL except as
! herein otherwise specially provided, be
in such form terms and denominations
and payable at such times and, places
/ within period Of not exceeding nfty
years from the date thereof. as the
tsf3ogrt15 of Liquidation, City Debt Sha'!
determine Said bonds shall be issued
| IN serial form and shall be PAYABLE in
annual installments, commencing not
more-than two years from tEeir respec-
fwm taff emf srsat,f H.
4 In each year shall he 50 tixe9 tnat when
the annual irtefeSt adae thereto. the
several annual total amounts of prin
: cipal ands-interest " be paid Shall te
as nearly eaual as practicable: provided.
said installments nav be fixed at I'VE
thousand dollars or the nearest multi
ples thereof
aid bonls shall be signhd by the
Mayor and the Comniss .oner OF Public
! nance Of the CITY Of New Orleans or
officers exercisin~ fnliiar un5't ana
Z esaif te sgne hy the Pres lent o. Wee
r @xsaeztzsss!s-i : ~, tfsry, ss~r IS St
al Secretary os tie Board ef Ii ui a.
F OEy a. n the caaa q
IL shan hear the
Smile att es ~ sal =
+ ssoner Of Public Finance and said Sec
any such officer whose signature
or counter-signature appears upon
such a bond or coupon shall
ease to be such Gdlcer before
t3 the pure c4as.f such signature or
4 counter Isl si2rature shall nevertheless he
i valid for e.. ] purposes. The cost ana ex
l perse q preparing ana So se5iiPg 3 sa1a 10
asaeps sal e ~ tie
af 81 iat.on. T. la t. tie
81 gtser Or bite S ~ aeaict p~
tef ise e tsSenac =
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