The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1916-10-28
CONSTITUTIONAL AMENDMENTS.
House Bill No; nBy y1l M; Bsrhe.
AcT NO. 4.

aehts of t1 the city of New Orleans and
of the Board of Directors OF the ru isla
schools, Parish OF orleans, respeetls sg !
": the issuance of serial bonds by SAID
city. the purpose for and the manner
in which same may be issued ana tns s
duties and functions Of the Board OF
Laulaato ena I rhs Ievying BY the City
OF New Orleans and me b 3s.Iaa &c, o.
school Directors, Parish of Orleans
respectively OF certain LIKES lur 81.
and providing for the submission OF
said amendment to the electors OF me
State for their approval or reJectlon.
Be il enacted by the General Assemply
OF The state of Louisiana, two thirds OF
all the members elected to each aouse
eoncurring that subject to the ratlnca-
lion and approval OF nhe el tbe sts ~ he
amended by incorporating therein the lo'-
lowing provisions, to wit:
Section l. The City OF New orleans, py
g vote of three fourthS of all the members
OF the Board of Liquidation. City Dept,
approved by resolution or the Conanllssioll
COUNCIL or its successor as the Sosetnlhs
,ody OF said munlelpalty, adopsea If p said
council or governing body, shaH NAYS
bower ana is hereby authorized 70 issue
Nine Million Dollars tS9,0Oo, 9oo1 OF p Ss;sI
% be styled CITY OF New Orleans serla
Gold Bonds" and to bear such rate OF
interest as The Board of Liquidation, Guy
Debt, may fix from time to time as eac s
lnSfaIif16nt OF Sclld pol1uo 40 oAAStSee ~"
sale as hereinafter proYlded. 20.
Section O. Three Million Dollars 49,
40 O00). in par value, of the bonds au-
thorlzed BY section OF this anehdiheh'
The proceeds of said three million
dollars OF bonds shall be applied eAclu-
siYelF to the following purposes anu Al
lhe following order.
unpaid school Teachers Salary Bonds, o.
the City Of New Orleans issued una es
Act No: of the General Assem aads ot ,, int
bonds shall be called for payment ahe
paid as soon as practlcabie; az
~ The payment of the prlncipaI OF "a Ine
floating Indebtedness of the Board OF III
rectors OF the Public Schools, Parish o.
Orleans evidenced by note or notes OUT
standing at the time OF the adoptlofl o.
this amendment to an am f3t11 Th not en
Dollars ($650.000); provided that, IN lnst
event that said Indebtedness or any par
thereof shall have been paid by sale
Board out of its current revenues pre-
vious to the adoption of this amendment
the amount thus paid (not to exceed $boo,.
900, however), shall be paid over IN casf
to said Board to be used by II Tor schoo
purposes, as provided by law;
(c) The payment of the sum OF F!Ve
Hundred thousand Dollars (soo9, oo9l, VIII u
interest thereon, borrowed by the CITY 9!
New Orleans for storm emergency pui
poses in the year 1915; :,
td) The payment of the oyerdraft o.
other indebtedness due by the CITY or New
Orleans TO it's fiscal agents or other banks
representing loans or advances made BY
them to said city, other than those re
ferred to in paragraph Co OF this secaon
to an amount not exceeding "a prlmIrgi la
and inter est the sum of One Million Ihret
Hundred and Fifty Thousand Doiiars
Isl. 35D,000); and
(e) The balance of sain proceeds shal
be used and employed by the Board g
Liquidation. City Debt, for the payIeneeah en-
r,f liz Jrl1nr annAnt C6rtlUCaI6S OF LIt
city of New Orleans, as set forth II
Section of this amendment.
Section 8. The remainder q the ,, l pend
ment, or SO much thereof as may
necessary shall he sold. from TIME Z
time, in such amounts as the Bo as.,..t -
Humiliation, City Debt, may determine
and the proceeds of the sale Thereon sna
be applied by said Board to the paymen
of Public Improvement Certihcates au
thorized by Act No. 46 OF the Genera
Assembly of the state OF Louisiana 70
the year 1908, and acts amendatory there
of, and presently outstanding or issue
at any time In paymenI OF any a1,e eon affec
at their respective maturittes or VINE
said naturitles can be anticipated Iapa upo
terms satisfactory to sad6 Board S a; ana
ments thereto, as well as all statutes upo
the same subject, and SO much OF Act
No. 1913 and No. 270 of the General As
sembly Of the state of Louisiana for tn
year 1910 and other statutes on the sam
subject matter, as may affect, apply {
pertain to the City of New Orleans, 3
and the same are hereby repealed led never
may be issued in the manner provided .
said Act No Sc of 1908, and amendfn ent
thereof, In payment Of any CONTRACT mao
before this amendment takes effect
Section 4. The City of New Orlean
may also issue and negotiate it's bono
when authorized by a vote of major1t
in number and amount OF the propers
for property in said city as shown by IN
last assessment made prior to the submls
sion OF the proposition to the said proper
taxpayers and who are otherwise quahhe
to vote under the Constitution and law
of this State, voting at an election Gale
by ordinance adopted by vote OF two
sion Council. or its successor as the gov
erning body of said City of New Orleans
and which ordinance before, any sue
election is ordered shall be also adopte
by vote of three-fourths of all the mem
bers of the Board of Liquidation, ClI
Debt Due notice of said election shall b
published for thirty days in the offic1t
journal of said city Qour weekly insertion
Of said notice constituting a publicatio
for thirty days, providing thirty days IN
tervene between the date of the hrs
insertion and the date of said eiecuon1.
No bonds shall be issued under thi
section for any other purpose or for an
greater amount than stated in the sub
mission of the proposition to said tax
payers
Section 5. In case of fire, flood, pest
lsnce, storm or other public calamity, tn
City of New Orleans shall have power
by two thirds vote of all the member
Of the Commission Council, or its sue
cessor as the governing body of said city
concnrred in by a three-fourths vote {
all the members of the Board of Liquida
ton City Debt, to borrow money an
issue and negotiate bonds in such sun
not exceeding Five Hundred Thousan
Dollars (s5O0,0oo) as shall be necessar
in any one such emergency.
Section 8. For the purpose of refundin
all or any part of the bonded indebtedness
of the City of New Orleans existing at tn
time of the adoption of this amendment
bonds may from time to time be issue
of the bonds of said city outstanding 8
the time of the adoption of this amend
ment shall become callable according
their terms or the. statutes under whic
they are respectively issued, or when til
consent of all the holders Of any sue
issue Of bonds can be secured, the Boar
of Liquidation. City Debt, shall have til
right in its discretion to call and pay an
one or more of said issues of bonds, an
shall be authorized by resolution dul
adopted to issue and negotiate bonds
provide the funds necessary for ths
purpose; providing, however, that in
event shall the par value of the bonds S
sold and negotiated exceed the par valu
Of the bonded indebtedness thereby to
refunded
Section 7. The full faith and credit
the City of New Orleans are pledged fl
the payment of the principal and interes
of all bonds issued under this amendment
The principal and interest of all bono
authorized and to be issued under tn
amendment shall be paid primarily out {
per cent debt tax which heretofore ha
been dedicated for the support and malr