The Natchitoches enterprise. (Natchitoches, La.) 1888-1965, 1916-09-21
Act No. ITO

| Senate Bill No. 96 BY Leon R Smith
A JOINT RESOLUTION
| Proposing an amendment to the Con-
| stitutior of the State of Louisiana,
providing for the funding of certain
debts of the City of Shreveport, and
| Judgments against the said city, the
issuance of serial bonds by said city,
providing the purpose for and the
sued, ard the duties of the City
Council of the City of Shreveport.
with reference thereto; and the levy
Ing by the city Council of Shreve-
port Of certEin taxes to retire the
bonds as issued herein, by said city;
and providing for the submission of
said amendment to TIE electors of
the State for their approval or re-
lection.
Be It enc cted by the General Assem-
bly, of the State of Louisiana, two
thirds of the members elected to each
bra ach thereof corcUrrifg, that, sub
ject to the ratification and approval of
me electors Of this State, the Consti-
tuition of tfe State be amended by in
corpnratin. herein The following pro-
visi-rz, to-wit:
Section j. The City Of Shreveport,
by d four%hfths vote of all the MEM
bers OF the City Council thereof, shall
have power and is hereby authorized
to issue 100000 of BONDS. or so much
thereof az may be necessary, to be
Bonds. and to bear such rate of inter-
est as the City Council may fix from
time to time, as each inStal1ment Of
the said bonds is offered for sale. as
hereafter provided; said rate of inter
est at no time to exceed 5 per cent
per annums payable semi-annually.
Section g. The proceeds of said
bonds shall be applied to the pay
ment and retirement of all certificates
Of Indebtedness issued by the City of
Ri
to the payment of all judgments rem
dered against said city prior to May
1, 1916.
Section 8. All bonds issued under
this amendment shall be in such form,
terms and denominations, and payable
al such times and places. within a Pc.
ricd oF not exceeding forty years from
the date thereof, as the City Council Of
Shreveport shall determine. Said
bonds sfap he i@susd in serial form
and shall be parable in annual in
stalllnents or1I1"ncing not more than
one year from their respective dates,
and the irstaliment payable In each
year shall be so fixed that when the
annual interest IL added hereto, the
several annual total amounts of pTin-
cipal ard interest to be pn id shall be
az nearly equal as practicable.
Said bonds shall Re st~ned by the
Maycr and tho Secretary Treasurer OF
the City OF Shrevenort and counter
signed bv fhc Crr1mi~ sinners of Ac-
counts end Finaaccs, and the coupons
shall have the fac-simile signatures
II the Mayor and secretary Treasurer.
in case any srcth officer whose sigma
ture or counter-signature. who ap-
pears on such bond or coupon, shall
cease to he such officer befo e deliv-
erv Of said bond or coupon to the pur-
chaser such signature or counter-sig
nature shall nevertheless be valid for
ell purposes.
Section q The PRINCIPAL and inter-
est OF All bonds authorized by this
coin of the United States of America
or its equivalent, of the standard
weight and fneness at the time of the
issuance thereof. and shall be exempt
from sl forms of taxation.
Sec don S. The full faith and credit
Of the city Of Shreveport are pledged
for the payment of principal and In
terest of all bonds issued under this
amendment. The principal and inter.
est of all bonds authorized and to be
issued under this amendment shall be
paid out of tax which shall be levied
Shreveport, upon all taxable property
In said city. sufficient to provide for
the payment Of the principal and in
forest Of said bonds as they respective
II become due. The tax SO levied is to
be In excess of the general and special
taxes provided for elsewhere in this
Constitution and is not to be affected
by nor to affect the limitations else
where contained in the Constitution
as to the Issuance OF bonds, and the
levytng OF taxes by municipalities.
Section 6. The provisions hereof
are seb-operative. err
ell Of Shr Svcgar. ti. j. I.,i;,l.ce
carr 'tctts i.tfo erect
l;e Il further enacted. etc, That the
amendment proposed by this Act
~N1H y" ruN.7fftr1 n - rfttrn-s ~
@at A ec-
az te
3r "a asi sft afe the
Aottta ~ NoSPm-
=. '?ib i y printed
j ! a
1aA
n 81 t.a