The Caldwell watchman. (Columbia, La.) 1885-1946, 1916-10-27
PROPOSED
AMENDMENTS
TO THE
CONSTITUTION OF LOUIS
lana
Adopted at the Session of the
Legislature of 1916.
To Be Voted On at the Congress
sionai Election.
Act No. 4

kioute BIN NO T. by MI btiHe
A JOINT RESOLUTION.
Proposing an amendment to the COnsti
tuition of the State Of Louisiana pro
ytding for: The funding of certain
Debts of the City of New Orleans an
OF the Board Of Directors OF the Pun
lc Schools, Parish OF Orleans. re
epectiyely the issuance Of serial BOND
by said city. the purpose for ana III
manner in which same may be ISSUED
and the duties and functions of tn
Board Of Liquidation. city Debt, VIII
reference thereto; and the levying by
the City of New Orleans ana TN
Board OF School Directors, Parish OF
Orleans, respectively. Of certain taHet
for general municipal and school pur
poses; and providing for the submls
sion Of said amendment to the cleo
tors Of the State for their approVa
or rejection.
BE It enacted by the Genera! Assem-
bly, Of the State OF Louisiana. two-thlrds
Of all the members elected to each mouse
concurring. hat subject to the ratiFch,
sion and approval Of the electors OF
the State. the Constitution OF the State
Be amended by Incorporating therein
the following provisions, to-wlt:
Section !. The City Of New Orleans
by a vote of three-fourths of all the
members Of the Board Of Liquidation
City Debt, approved by resolution Of the
Commission Council, or it's successor as
che governing body OF said municipality,
adopted by a 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 $50 @ ,t06t of bonds, to be styled
CITY of New Orleans Serial Gold
Bonds" and to bear such rate of inter
est as the Board of Liquidation. City
Debt, may fix from time to time as each
in~stallment of said bonds is offered for
sale as hereinafter provided.
Section 2. Three Million Dollars S3,-
600. 000). in par value, Of the bonds au-
thorized by Section ! Of this amendment
shall forthwith be sold.
The proceeds of said three million
dollars of bonds shall be applied exclu-
eively to the following purposes and In
the following order:
and unpaid School Teachers Salary
Bonds OF the City Of New Orleans" is
sued under Act No 2 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 or
the floating Indebtedness Of the
Board of Directors Of the Pub
lie Schools, Parish of Orleans,
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 9660.O 00); provided that
in the event that said indebtedness or
any part thereof shall a been paid
by said Board out Of its current reve-
nues previous to the adoption Of this
amendment, the amount thus paid (nol
to exceed $3.50, 900, however,, shall hf
paid over in cash to said Board to ne
used by it for school purposes, as pro-
vided by law;
(c) The payment Of the sum Of Five
hundred Thousand Dollars $500. 0)d1
with interest thereon, borrowed by ~.
City OF New Orleans for storm emer gen,
cy purposes in the year 1915:
(d) The payment of the overdraft OF
other Indebtedness due by the City o!
New Orleans to it's fiscal agents or Other
banks representing loans or advances
made by them to said city. other thar
those referred to In paragraph (c) OF
his section, to an amount not exceed
ing in principal and interest the sum
OF One Million Three Hundred and FIT
ty Thousand Dollars G1.35O,0 00); and
te) The balance of said proceeds
shall be used and employed by the
payment Of Public improvement Certih-
Gates Of the City OF New Orleans. as set
forth in Section 8 Of this amendment.
Section 3. The remainder of the
bonds authorized by Section ! Of this
amendment. or so much thereof as nay
be necessary, shall be sold. from time 10
time. in such amounts as the Board CT
Liquidation, City Debt. may determine,
and the proceeds OF the sale thereof
shall be applied by said Board to the
payment of Public Improvement Certif,
Gates authorized by Act No. Sc OF the
General Assembly Of the State Of Louis.
lana for the year 1908. and acts amenda.
tory thereof, and presently outstanding
or issued at any time in payment Of
any contract made before this amend
ment takes effect. at their respectlv,
maturittes or when said maturities car
be anticipated upon terms satisfactory
to said Board.
Said Act No. Sc OF 1908 and al
amendments thereof. as we'll as all stat
much Of Acts No. 1928 and No. 270 O,
the General Assembly Of the State O,
Louisiana for the year 1910, and Other
statutes on the same subject matter, az
may affect. apply or pertain to the Cit,
of New Orleans. be and the same arr
hereby repealed; nevertheless Public
Improvement Certificates may be ISSUED
In the manner provided by said Act No
IS of 1908. and amendments thereof. II
payment Of any contract made befor,
this amendment takes effect.
Section 4. The City of New Orleans
may also issue and negotiate it's bond,
when authorized by a vote of a majorlt,
In number and amount Of the propert,
taxpayers. who shall have been assessed
for property in said city as shown b,
the last assessment made prior 10 tn,
submission of the proposition to tn,
said property taxpayers and who ar,
otherwise qualified to vote under tn,
Constitution and laws OF this State
voting at an election called by ordinanc,
adopted by a vote of two-thirds Of al
the members OF the Commission Coun
oil. or its successor as the governin,
body Of said City of New Orleans. AM
which ordinance before any such cleo
ton Is ordered shall be also adopted b,
q vote Of three-fourths of all the mem
bsrs Of the Board of Liquidation, Cit,
Debt. Due notice of said election shat
be published for thirty days in the otn
cial journal of said city -four week.,
insertions Of said notice constituting
publication for thirty days. provide,
thirty days intervene between the dat,
of the first insertion and the date o
said election}.
No bonds shall be issued under Thu
section for, any other purpose or 10
any greater amount than that stated u
the submission of the proposition Z
said taxpayers.
Section s.. In case of fire, food. pes
thence, storm or other public calamity
the City Of New Orleans shall hav
power, by a two-thirds vote of all IN
members Of the Commission Council, O
it's successor as the governing BODY q
said city. ooncurred in by a three
fourths vote Of all the members Of tn
Board Of Liquidation. City Debt. t
borrow money and issue and negotiat
bonds In such sum-. not exceeding Fiv