Tensas gazette., 1916-09-22
PROPOSED
AMENDMENTS
TO THE
CONSTITUTION OF LOUIS
lana
Adopted at the Session of the
Legislature of 1916.
To Be Voted On at the Congress
sional Election.
Act No. 4

viding for: The funding of certain
debts Of the City of New Orleans and
Of the Board of Directors of the Pub
lilo Schools. Parish of Orleans. re-
spscttvely 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
the City OF New Orleans and the
Board OF School 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 elec-
tors OF the State for their approval
or rejection.
Be Il enacted by the General Assem-
bly, Of the State Of Louisiana. two-thirds
Of all the members elected to each house
0ncurring. that subject to the ratifica-
non and approval of the electors or
the State. the Constitution of the State
be 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 (&s.000,000) of bonds. to be STYLED
Olty OF New orleans Ser1dl 6Oiu
Bonds" and to bear such rate Of inter-
est ~ 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.-
900 .o0o), in par value. of the bonds au-
thortzed by Section of this amendment
shall forthwith be sold.
The proceeds of said three million
dollars Of bonds shall be applied exclu-
.1 A. - l>lI axx1 fxz
the following order:
CAY 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
sembly Of the State of Louisiana ror
the year 1906. which bonds shall be
called for payment and paid as soon as
practicable:
(b) The payment of the principal OF
the floating indebtedness of the
evidenced by note or notes out
standing at the time of the adoption
OF this amendment to an amount nc
exceeding Six Hundred and Fifty Thou
sand Dollars ($650.000); provided that
in the event that said Indebtedness or
any part thereof shall have been paid
BY said Board out of % its current reve-
amendment. the amount thus paid (not
20 exceed S650,000. however,. shall be
paid over in cash to said Board to be
used by Il for school purposes. as pro-
(cl The payment Of the sum OF Five
Hundred Thousand Dollars $500, ,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
other indebtedness due by the City of
New Orleans to its fiscal agents or other
made by them to said t city. " other SeAdnen than
those referred to in paragraph (c) or
this section. to an amount not exceed
ing in principal and interest the sum
OF One Million Three Hundred and FIJI
~ Thousand Dollars G1.350.0 .000); and
te) The balance of said proceeds
shall be used and employed by the
Board of Liquidation. City Debt. for the
payment of Public Improvement Certif-
Gates of the City Of New Orlsans. as set
forth In Section 3 of this amendment.
Section 3. the remainder OF the
bonds authorized by Section I OF this
amendment. or SO much thereof as may
be 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
shall be applied by said Board to the
Gates authorized by Acs No 56 of the
General Assembly OF the State of LOUIS
lana for the year 1908. and acts amenda-
tory thereof. and presently outstanding
any contract made before this amend
ment takes effect. at their respective
maturities or when said maturities can
be anticipated upon terms satisfactory
Said Act No. 5s of 1908 and all
amendments thereof. as we'll as all stat
utes upon the same subject. and so
much OF Acts No. 1873 and No. 27o of
the General Assembly 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 and the same are
hereby repealed; nevertheless Public
Improvement Certificates may be issued
In the manner provided by said Act No.
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
for property In said city as shown by
the last assessment made prior to the
submission OF the proposition to the
eaid property taxpayers and who are
otherwise qualified to vote under the
Constitution and laws or this State.
voting at an election called by ordinance
adopted by a vote OF two-thirds OF ali
the members of the Commission Coun-
ell. or its successor as the governing
body OF said City of New Orleans. and
which ordinance before any such elec-
zion IL ordered shall be also adopted by
q vote OF three-fourths OF all the MEM
bsrs Of the Board of Liquidation. City
Debt Due notice OF said election shall
be published for thirty days in the offi-
cial journal of said city Cfour weekly
insertions OF said notice constituting a
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 this
section for any other purpose or for
t~~ tnt tkxav
the submission OF the proposition to
said taxpayers.
Section S. In case of fire, flood. pes
tilenes; storm or other public calamity,
power. by a two-thirds vote of all the
members of the Commission Council. or
its successor as the governing body 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 negotiate
bonds In such sum, not exceeding Five
Hundred thousand Dollars ($500. .000)
as shall be necessary in any one such
Section 8. 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 tfms
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
callable 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 OF
bonds can be secured. the Board OF Ii
quidation. City Debt shall have tne
any one or more of said issues OF bonds
and shall be authorized by resolution
duly adopted to issue and negotiate
bonds to provide the funds necessary
for that purpose: provided. however
that In no event shall the par value OF
the bonds 90 sold and negotiated ex-
eood the par value Of the bonded In.
1obtednes6 thereby to be refunded.