New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1916-11-04
Adopted at the SESSION. OF the Legislature of 1916
d on At the Congressional Election.

uduCe Oe1O1e any SUCN e1eCtlCN is OlOeIe(
shall be also adopted by vote of three
fourths Of all the members of the Boart
| Of Liquidation, City Debt. Due notic
| Of said election shall be published TO-
thirty days in the official journal of sai(
| city -four weekly insertions of said no
| tice constituting a publication for thirty
days, provided thirty days intervene be
tween the date of the first insertion ana
i the date of said election.)
No bonds shall be issued under thi.
section for any other purpose OF for an,
greater amount than that stated in tn;
submission Of the proposition to saic
taxpayers.
Section S. In case of fire, flood
pestilence, storm or other public calam
ity, the City of New Orleans shall have
power, by q two-thirds vote of all the
members Of the Commission Council, o,
its successor as the governing body o.
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 in any one suct
emergency.
Section 6. For the purpose of re-
funding all OF any part of the bonded
indebtedness of the City of New Orleans
existing at the time of the adoption O..
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 me adop-
ton of this amendmeaobohall become cal
liable according to their terms OF the
statutes under which they are respec-
lively issued, or when the consent o: al
the holders Of any such issue of bonds
can be secured, the Board Of Liquida-
ton, City Debt, shall have the right in
its discretion to call and pay any one
or more of said issues of bonds. and
shall be authorized by resola Ion duly
adopted to issue and negotiate bonds TO
provide the funds necessary for hat pur-
pose; provided, however, that in no
event shall the par value of the bonas so
sold and negotiated exceed the par value
If the bonds so sold and negotiated ex-
coed the par value of the bondei indeb:-
edness thereby to be refunded.
Section Z. The full faith and cre1it of
the City of New Orleans are pledged ic-
the payment of the principal aai inter-
est of all bonds issued under this amend
ment.
The principal and interest Of all ponds
authorized by and to be issued under
this amendment shall be paid primarily
out Of a. 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 and
authorized by Act No. ITO Of the Cen
eral Assembly Of the State Of Louisiana
for the year 1890, and subsequently
made part of the Constitution of this
State, and (2), after January l, 1928,
that portion Of the one per cent debt
tax, authorized and levied under Act No.
ITO aforesaid, and the two-mill tax au-
thorized by and levied under Act No. s
of the General Assembly of the State of
Louisiana for the year 1899 which shall
have been released and freed from ded
ication either by the calling and re-
funding or the payment in due course
Of all or any part Of the bonds existing
At the time Of the adoption Of this
provided that, if the funds
derived from the sources aforesaid shall
be insufficient in any one year to pay
the principal and interest of the bonds
issued under this amendment and then
and unpaid, or if for any
cause there shall not be funds approp-
rated to or available for such purpose,
the City of New Orleans shall levy tax
upon all taxable property in said city
to provide fof any such de-
Eciency; and provided further that, |
when the aforesaid one per cent debt tax
md two mill water and sewer tax shall !
ease to be levied, the City of New Or
cans shall levy = tax upon all taxable
in said city sufficient to pay
he principal and interest of said bonds |
Is they respectively become due.
Section 8. It is hereby intended that
IL existing dedications and appropria
ions of said one per cent debt tax au-
horized by said Act No. ITO Of 1890 Tex
;ept with respect to the said one-half of
he surplus Of the one per cent debt tax
herein dedicated to public schools, and
# said two-mill water and sewer tax,
'uIoo1Azeo Oy SAlo ACT NO. OF Ao9S,
hall Be respected and performed accord
ng to the priorities by said statutes es
ablished; that ali of that portion Of
he funds resulting from the levy Of said
axes which shall be released from said
appropriations and dedieations by the
'syment, satisfaction or refunding of
ny of the bonded debt obligations now
harged thereon and there-against shall,
ogether with the one-half of the surplus
f the one per cent debt tax heretofore
edicated to public school purposes, be
sed and applied to the payment of the
rincipal and interest of all bonds is
ued under this amendment; that any
esidue thereof remaining after the pay
,ent Of the principal and interest in
ny one year Of bonds authorized byi
his amendment shall be turned over to
be City Of New Orleans to be used by
. for general municipal purposes; but
'hen, and to the extent that, the obi
atoms now charged on said taxes shall
z paid, satisfied or refunded, said taxes.
hall be released from said obligations,
nd. ultimately, when entirely released
nd discharged, shall cease to be levied;
"A that <hAv>~ f%av a1v aoA al hruNe