The Caldwell watchman. (Columbia, La.) 1885-1946, 1916-10-13

pay and discharge same are aS'ual'y ia
the treasury OF said city at t"e Time Oh
making the contract or mourning the
debt or obligation and are speriLoaiIy
set aside and deiiCated TO said purpose,
unless herein otherwise provided. me
foregoing limitation and restriction
shall not apply or ha held to apply 10
contracts or obligation incurred with
respect to the furnishing to said city OF
lIxht. heat or power, water, telephone
s~erviCs or garbage remove or deslruc'
ton.
The said city may In any calenGar
wear in anticipation OF the collection OF
the taxes Of such calendar year, anu tor
the purposes Tor which such taxes arc
levied. borrow such sums as snail not
ne in excess Of the amount or us un-
collected taxes of such year. and may
ISSUE It's notes or olher evidences or
Indebtedness therefor. and sueh SUM,
notes or other evidences Of indebted
ness shall be payable only out OF the
taxes of the calendar year In which said
| loan or loans are FIRST made. and tor
which Indebtedness said shall
be pledged, and said Indebtedness Stlil
not he payable out Of any other funds
or moneys whatsoever No money Snail
br borrowed by the said city except Ior
current municipal purposes, anu IN no
event shah any money be borrowed by
said city to make or TO pay Tor WoTks
| OF pubt:r Improvement Said city may
issue for street paving purposes CeTtlii~
Gates on IT'D taiul and credit pursuant 70
| legislative authority, to an amount not
IN excess Of any special assessments
which have been or shall be made for
Slcu purposes. Such paving certificates
| hereafter issued shall be ~Chargeahle
| primarily against the special HSSeSs-
mcntS IN respect OF which thew are ls-
sued, and ~s"condarily against the revr-
! nles OF the city Of New Orleans derived
from taxation for general municipal
| purpuSaS and from sources other than
the taxes for the payment &C the princl-
pai and interest OF the bonds now out
standing or hereafter to be issued Nv
! der this paving certificates only in The
event and 10 the extent that Sucn
amendment, which revuues shall he ap-
piled in payment of such special assess
meuts shall be insufficient for such pay
mert. and reimbursement shall be made
to the general funds of the City OF New
Orleans when the assessments are col
| leCted 10 the extent or the amount that
the said general funds shall have con-
tributed to the payment aforesaid. So
much of Act No. % Of the General AS
semhly Of the State Of Louisiana for the
year 1914 as may he inconsistent here
with is hereby repealed, and hereafter
no paving certificates shall be issued
upon the pledge Of the reserve fund OF
] 1ne lily hI Ne" dreams, but SNtl tSl-
tiiCatcs shall be secured as herein and
otherwise provided for by said act or
subsequent legislative authority nUI III
| connect herewith; provided. however,
that paving certificates, for which the
faith and credit Of the City Of New Or
leans shai! he pledged. whether issued
under the aforesaid Act No. 23 OF 1914,
or under subsequent legislation, shall
not at any one time be outstanding in
an amount in excess OF Five Million
Dollars ($6. 900, 0OO) in face value.
Section Is. The total issue OF bonds
by the City of New Orleans for all pur-
poses shall never exceed ten per centum
of the assessed valuation of the proper
~ IN said city provided. however, that
neither the bonds issued for water.
sewerage and draina>e purposes tname-
bonds issued under said Act No. s Of
1899 and the $4,000. 600 New Pub
lie Improvement Bonds issued un-
I der Act No. 19 OF the General
Assembly OF the State of Louisiana
for the year 1906, and acts
a~mendatory thereof and supplemental
thereto. as we'll as such bonds, HEREBY
or hereafter authorized, into which the
aforesaid bones or any par Thereof may
be ~retundedD, nor the $4,000, 600 Pubic
| Belt Railroad Bonds authorized by Act
No. l19 of the General Assembly of the
State of Louisiana for the ear 1908.
nor any bonds hereafter authorized for
Public Belt Railroad purposes, nor any
bonds which may hereafter be issued
for water supply or for the acquisition
or construction Of any revenue produc-
ing public utility, nor n paving certih-
Gates primarily chargeabie against Spe-
cial assessments for street pavips. sshoeSS@
be included in computing the sndetfas-
ness of said City Of New Orleans under
this limitation; and provided further.
that emergency bonds may be issued as
authorized in Section 5 of this amend
ment even though said limitation shall
have been reached provided that the
Nine Million Dollars Of bonds authorized
by Section l Of this amendment shall
rot be subject to the limitation herein
fixed at the time or times that same
shall be issued; but, with respect to
| any other bonds that may be Issued
hereafter under this amendment there
shall be included in the computation
said Nine Million Dollars of bonds. nov
withstanding the fact that all Of said
Nine Million Dollars Of bonds shall not
nave been actually issued, and sucn
amount of emergency bonds as may be
then outstanding.
Section IA. The Board Of LiQuida-
ton. City Debt. as now organized and
created with the powers. duties ana
functions prescribed by existing laws
and by this amendment. shall be con-
tinued while any bonds authorized by
this amendment are outstanding and I'M
paid; and all taxes which may be levied
for the payment OF said bonds shall, day
by day as collected, be paid over to said
Board. and shall by it be applied in pay
ment Of the principal and interest OF
said bonds; and SAID board shall with
respect to all bonds authorized by this
amendment be entitled to exercise ali
the rights and enforce the performance
of all the obligations, the same AZ it is
authorized to do under laws existing at
the time Of the adoption Of his amend
ment with respect to any OF the present
~ outstanding bonds of said City or
New Orleans. All funds. property and
things of value held by the Board of LII
quotation. City Debt. for bonded dent
purposes other than taxes now or here
after levied. and particularly all funds.
property and things OF value now or
hereafter held by said Board under Act
No. 1873 Of the General ssembly of the
State OF Louisiana for the year 1880
and all amendments thereto. shall when
released from contract obligations or
dedications imposed by laws existing az
the time Of the adoption of this amend
ment be used and employed in the dis
creation of said Board in payment and
retirement of any bonds of the City or
New Orleans then outstanding.
Section IS. For general municipal
purposes, exclusive Of the support and
maintenance of the public schooIs ana
the payment of the bonded debt Of the
City OF New Orleans. said city may in
each year levy upon all taxable property
within said city a tax not exceeding
six and one-half mills on the dollar OF
the assessed valuation thereof; pro-
Nided, however, that when the one pei
cent debt tax authorized by said Act No
10 of 1890 and the two mill water anc
sewer tax authorized by said Act No. 4
Of 1892 shall both have ceased to be lev.
led. n II thereafter the taxes levied by
the City Of New Orleans In any one
wear for bOn1ed debt purnoSes be lecs