St. Landry clarion. (Opelousas, La.) 1890-1921, 1916-10-28
Act No. 10

.asrate Bill No. So. BY Leon r. Smith
A JOINT RESOLUTION
proposing an amendment to the Con-
~stitution of the State OF Louisiana.
debts Of the city of Shreveport. and
4udgnaents against the said city, the
Issuance Of serial bonds by said city,
providing the purpose for and the
manner in which same may De IS
EornciI of the City OF Shreveport.
wifi reference thereto; and the levy
ing by the City Council OF Shreve-
port or certain x to retire the
bonds as issued herein, by said city:
and providing for the submission OF
said amendment to the electors of
the state for their approval or re-
lection.
Re II enacted by the General Assem-
NV OF the State of Louisiana. two
thirds of the members elected to each
branch thereof concurring, that. Sud-
feet to the ratification and approval OF
ma eletcors of this State, the CQnsti-
tuition Of thu State be amended BY In
cooperating therein the following pro-
visions. to-wit:
Section /. The City Of Shreveport.
Ny o four-nfths vote Of All the mem,
hers Of the City Council thereof. shall
nave power and is hereby authorized
To issue $500. 600 OF bonds. or 50 much
thereof as. may be necessary, to be
styled CITY Of Shreveport Serial Gold
Bonds, and to bear such rate Of intsr-
sst as the City Council may fin from
tine 10 time, 90 each instaliment Of
tie said bonds is offered for sale. as
hereafter provided: sai rate Of inter-
ct 1t no time to exceed s . cent
ger annum, payable semi-annualiy.
Section z This proceeds Of said
honda shall be applied TO the pay
psnt and retirement Of all certificates
I'll Indebtedness issued by the City OF
&hrevsport prior to May /. 1915. and
% the payment OF all judgments rem
Asred against said city prior to May
], 1919.
Section 8. All bonds issued under
this amendment shall be In such form,
terms ana denominations and payable
at such times nj places, within q Pc
ricd Of not exceeding forty years from
the date thereof, as the City Council Of
Shreveport shall determine: Said
Aad saail be payable in annual In
stallments, commencing not more than
one year from their respective dates.
and the insta1lment payable In each
year shall be so flxed that when the
annual interest Is added thereto, the
several annual total amounts Of prin-
@ipal and interest to be paid shall be
rs nearly equal as practicable.
Said bonds shall be signed by the
Mayor ard the Secretary-Treasurer OF
the City OF Shreveport, and counter
signed by the Commissioners OF Ac-
counts and Finances. and the coupons
she'll ave the fac-simile signatures
Of the Mayor and Secretary-Treasurer.
In case any such officer whose sigma
ture or counter-signature, who ap-
pears on such bono or coupon. shall
cease to be such officer before deliv-
cry of said bond or coupon to the pur-
chaser, such signature or counter-sig-
nature shall nevertheless be valid for
all purposes.
Section 4. The principal and inter-
est of all bonds authorized by this
amendment shall be payable in gold
coin Of the United States of America
or its equivalent. of the standard
weight and oneness at the time of the
Issuance thereof. and hall be exempt
from all forms of taxation.
Section 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
snnendment. The principal and inter-
est of all bonds authorized and to be
isrlied under this amendment shal be
paid out OF tax which shall be levied
annually by the City Council OF
shreveport, upon all taxable property
IN said city, sufficient to provide for
NE payment of the principal and in
terest Of said bonds as they respective
~ become due. The tax so levied is to
pc IN excess of the general and special
lakes provided for elsewhere in this
constitution, and is not to be affected
py nor to affect the limitations else
Where contained in the Constitution
rs TO the issuance of bonds, and the
levying of taxes by municipalities.
Section 6. The provisions hereof
Us self-operatiye,. and the City Coun-
gil Of Shreveport may by ordinance
carry them Into effect.
Be it further enacted, ETC., That thu
amendment proposed by this Act
snail be submitted to the electors Of
me State for their approval or rejec-
Sion at the Congressional election tt
Se held on the first Tuesday after thu
pfst Monday in the month of Novem'
Der 1916; and there shall be printed
! me official ballot to be used in sale
slection the words. For the proposed
amendment to the Constitution Of tn,
state of Louisiana providing for tn,