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

OF tne state Oh IOulSldud pro-
yiding for: The funding of certain
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
in which same may be issued and the
duties and functions of the Board OF
Liquidation, City Debt, with reference
thereto; and the leyying by the City
o. St,, Mew Gieans ana ine 81 D SrIean 81
respectively, of certain taxes for gem
eral municipal and school purposes;
and providing for the submission OF
said amendment to the electors of the
State for their approval or re1ection.
BE IL enacted by the General Assembly
all the members elected to each House
yoncurring, that subject to the ratihca-
don and approval of the electors OF the
state, the Constitution OF the state De
amended by Incorporating therein the fol-
lowing provisions, to wit:
section l. The City of New Orleans, by
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
,ody OF said municipality. adopted by a
sote of two-thirds OF all members OF SAID
council or governing body, shall nave
Nine Million Dollars (s9.000.0O0) OF bonds,
% be styled CITY of New Orleans Serial
Colo Bonds' and TO bear such rate OF
interest as the Board of Liquidation, City
Debt may fix from time to time as each
installment OF said bonds is offered for
sale as pTONlucu-
section z Three Million Dollars 49,,
voO.000), in par value. of the bonds au-
thorIzeu by section OF this amendment
shall forthwith be sold.
The proceeds of said three million
dollars of bonds shall be applied exclu-
siveiy to the following purposes and in
(aJ The payment of the outstanding and
unpaid school Teachers Salary Bonds OF
Act No. of the General Assembly of the
state OF Louisiana for the year 1906. which
bonds shall be called for payment and
paid as soon practicable;
(b) The payment of the principal of the
floating indebtedness Of the Board OF Di-
rectors OF the Public Schools, Parish of
Orleans, evidenced by note or notes out
standing at the time of the adoption OF
this amendment TO an amount not ex-
Dollars 1Ss5o, 0o0S; 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 1t for school
purposes as provided by law;
(c) The payment of the sum OF Five
Hundred Thousand Dollars ls5oo. 0ool, with
New Orleans for storm emergency pur-
poses in the year 1915,
(u) 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
tAtlu " SetiQ CITY OtlCA Iihii tHOoC iC-
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
tS1.350000; and
te) The balance of saio proceeds shall
be used and employed by the Board OF
Of Pubic improyemen T certi scs Of the
City of New Orleans. as set forth in
!. section Of this amendment.
~-~sSection g.. The remainder OF the bonds
Mrs. E. 1y ssss0p ahere % as n asn Be
ia, came up Fr sSSanss As tSe Boar e Of
Liquidation. CITY Debt, may determine
ana the proceeds of the sale thereof shall
he applied by said Board to the payment
thorized by Act No. 46 of the General
Assembly OF the State OF Louisiana for
sea d p pScs ahy Or issued
lat any time in payment Of any contract
mace before this amendment takes effect.
said maturities can be anticipated upon
terms satisfactory to said Board,
said Act No. sc of 1908 and all amend
ments thereto, as well as all statutes upon
the same subject and SO much of Acts
No. 12S and No. go of the General As
sembly of the state of 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
iheie sae Pubic Ar Improvement certicates
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 a vote of a majority
in number and amount of the property
taxpayers, who shall have been assessed
fol. property in said city as shown by the
last assessment made prior to the submis-
sion of the proposition to the said property
taxpayers and who are otherwise qualified
to vote under the Constitution and laws
nf This state voting at election called
by ordinance adopted by vote of two
thirds OF all the members of the Commits
sion Council, or its successor az 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 men,
beers of the Board of Liquidation, City
Debt. Due notice of said election shall be
published for thirty DAYS IN the oclal
of said notice constituting publication
for thirty days. providing thirty days in
tervene between the date of the first
Insertion and the date OF said electon).
No bonds shall be issued under this
section for any other purpose or for any
greater amount than stated In the sub
Section S. In case of fire. flood. pesti-
lence storm or other public calamity, the
CITY of New Orleans shall have power.
by a two-t thirds vote of all the members
Of the Commission Council. or its sue
cessor as the governing body of said city.
J, concurred in by a three-fourths vote of
all the members OF the Board of Liquida-
ton, City Debt. to borrow money and
not exceeding Five Hundred Thousand
Dollars (s500,O00). as shall be necessary
in any one such emergency.
Section s. 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
n1ent shall become callable according to
their terms or the statutes under which
they are respectively issued. or when the
consent OF all the holders OF any such