The Era-leader. [volume] (Franklinton, La.) 1910-current, 1916-09-28

issued under the aforesaid Act No. 20 O
1914, or under subsequent legislation, shall
not at any one time be outstanding in 81
amount in excess Of Five Million Dollars
50, 600, 0oO) in face value.
Section 13. The total issue Of bonds by
the City Of New Orleans for all purposes
shall never exceed ten per ccntum OF tho
assessed valuation of the property in salt
city; provided. however. that neither Tho
drall'ase purposes (namcly, the $4,000,
Q0o Public Improvement Bopds ISSUED
under said Act No. Of 1899 and the
IS, coo, GOO New Public Improvement Bonds
issued under Act No - OF the Genera
Assembly OF the State Of Louisiana fol
the Year 1906, and acts ;,mun(latOry there
OF and supplemental thereto, as well as
such bonds, hereby or hereafter author
lied, into which the aforesaid bonds OF
amy part thereof may be refundc(U, non
me $2,ooo,pou PUBLIC Belt Railroad Bonds
authorized by Act No. 179 of the General
Assembly OF the State OF Louisiana for tbs
Year 1908, nor any bonds hereafter :u-
thorizcd for Public Belt Railroad pur-
poses. nor any bonds which may hereafter
be issued for water supply or for the
acquisition or construction Of any revenue
producing public utility. nor any paving
special assessments for street paving,
Shall be included in computing the .ndebt :
cullesS of said City OF New Orleans unde,
this limitation: and provided further, that
emergency bonds may be issued rs au
even though said limitation shall have
been reached; provided that the Nine Mil
non Dollars OF bonds authorized by Sec
ton OF This amendment Shall not be
subject to the limitation herein fixed 1T
the TIME or Tunes that same shall be
issued; but, with respect to any other
bonds that may be issued hereafter under
this amendment there shah be included
in the computation said Nine Million
Dollars OF bonds, notwithstanding the fact
that all OF said Nine Million Dollars Of
bonds shall not have been actually issued,
and such amount of emergency bonds as
may be then outstanding.
Section II. The Board OF Liquidation,
CITY Dept, as now organized and created
and with the powers, duties and functions
prescribed by existing laws and by this
bonds authorized by this amendment are
outstanding and unpaid; and I'LL taxes
which may be levied for the payment OF
said bonds shah, day by day as collected
be paid over to said Board, and Shall BY
IT t'c applied in payment OF the principal
ana interest OF said bonds; and said board
shall with respect to all bonds authorized
BY this amendment be entitled to exercise
all the rights and enforce the performance
OF all the obligations, the same as it is
authorized to do under laws existing at
the time Of the adoption Of this amend
outstanding bonds of said CITY of Ncw
Orleans All funds, property and things
of value held by the Board of Liquidation,
City Debt, for bonded debt purposes other
than taxes now or hereafter levied, and
all funds nronertv and thinps
Of yauc now nr hero,ftnr holrl h,, saiI
Board under Act No. 1873 Of the General
Assembly OF the State of Louisiana for
the YEAR 1880 and ali Hmnnime,,ts ther 70.
to, Shall when released from contract
existing at the time Of The ndontion If ' ne
lneud,neut 10 ." AMI Ny ~ ~, t 1'
discretion of said 3oarI in noymont and
retirement of any bonds Of tEn Wv ''' nf
New Orleans then o,,Ist"nG;nc o NV ~
Section Is. For general m,11m;c;na1 MR.
IerIancc of the public schools and the nav
nent OF the bonded debt of The I,itV Of
New Orleans, said city nav in nach yoor
levy upon all taxable property within, said
:ity Il tax not exceeding six and one-half
mills on the dollar of the assessed yalua-
The one per cent debt tax authorizcGd Nv
said Act No. 10 of 1890 and the two0miil
water and sewer tax authorized by said
Act No. Of 1899 shall both have ceased
% he levied. and if thereafter the taxes
evcd by the City Of New Orleans in any
'l1C 1Oi boilucu OcDC PURPOSES be less
han ten mills, said city may in such
vents levy for it's general purposes such
additional tax which, when added to the
ak of six and onc-half mills hereby
authorized and the taxes levied for the
,ayment Of the principal and interest of
is bonds as they scverally mature, shall
lot exceed in the aggregate sixteen and
'ne-half mills.
Section IL. The reservation of twenty
'er cent of the revenues Of the city Of
>cw orleans snail not hereafter be made
;, directed by Section 40 of Act No. 159 Of
ousans for the yeay 1S 'e eSce S5aie nso OF
ar a as me iund so directed to be reserved
nan nave been appropriated or dedicated
elore tnls amendment takes effect to the
ayment OF any obligation of the City of
.e nS orleans; ana SAID reserve fund of
'ations charged against it by law and
ecause Of contracts. existing at the time
I the adoption Of this amendment, shall
e used for general municipal purposes.
Section II. For the support, mainte-
ance, construction and repair of the
he Board of Directors of the Public
chools, Parish Of Orleans, or it's legal
uccessor, shall levy annually such tax,
ot exceeding three and one-half mills as
aid Board shall deem necessary, which
;vy shall be certified by said Board to
overning body OF the City of New Or
cans, which shall cause the tax to be
nlereh upon the tax rolls of said city
ccording to law against all taxable |
ropcrty in said city as assessed and
a a! for city taxation, purposes; and
'ai 40, LAX sna'l pc collected BY said city and
'ubllc Schools, Parish Of Orleans, day by
az as collected
Sala TAX shall De in lieu of all taxes,
npIopr,auons ana funds now authorized
J. o I,.. % DC levied or contributed by
a , 10y OF new orleans for public schoo!
s9o or other provisions of the .Constitu-
ION OF ms state. All constitutional pro.
IS go 70 me contrary, as well as act