The Natchitoches enterprise., 1916-09-28

AMENDMENTS
TO THE
CONSTITUTION OF LOUIS
lana
Adopted at the Session of the
Legislature of 1916.
To Be Voted On at the Congress
Siolal Election.
Act no. 4

House Bill No. T. By Mr.. Byrne.
a JOINT RESOLUTION.
Proposing an amendment to the Consti-
tuition of the State of Louisiana pro-
viding for: The funding of certain
debts OF the City of New Orleans and
of the Board of Directors OF the Pub
lie Schools. Parish of Orleans. re-
spectlvely the issuance of serial bones
by said city. the purpose tor and the
N amer in which same may be issued
ana the duties and functions Of the
Board of Liquida ton, City Debt, with
reference thereto; and the levying by
the city of New Orleans and the
Board of School Directors, Parish of
Orleans, respectively. OF certain taxes
for general municipal and school pur-
poscs: and providing for the submis-
sion of sai1 amendment to the eiec-
tors Of tho State for their approval
or rejection.
De ii enacted by the General Assem-
bly, of the State of Louisiana, two-thirdS
Of all the me nbers elected t. each house
concurring. that subject to tLe ratlhca-
ton and approval of the electors OF
the State the Constitution of the State
be amended by Incorporating therein
the following provisions, to-w1t
Section l. The City OF New Orleans,
by q vote of three-fourths If all the
members of the Board of Liquidation
City ebt, approved by resolution OF the
Comm ssion Council or it's successor aH
the governing body of said mum eipality,
adorted by a vote Of two -thlIay Of ali
the members of said council or govern
ing body, shall have power and is here
by authorized to issue Nine Million Doll
lars (S9,000,000) of bonds, to be styled
city of New Orleans Serial Gold
Bonds" and to bear such rate of inter"
est rs the Board Of Liquidation, City
Debt may fix from time to time as each
installment of said bonds is offered for
sale az hereinafter provided.
Section q Three Million Dollars (ss.~
oO0,O00l, In par value, Of the bonds au-
thorizei by Section / of this amendment
shall forthwith be sold.
The proceeds of said three million
dollars OF bonds shall be applied exclu%
sively to the following purposes and in
the following order;
(a) The payment Of the outstanding
and unpaid school Teachers Salary
Bonds o. the City OF New Orleans, is-
f,iaad S.a3er Act No OF the General Az
s Qs $1,000 e z, s0r 7
cufieA FOR payment ana PAID "a E0un
p o. ei59 The payment of the principai OF
the foating Indebtedness Of the
Board soSdo,I oi Diref5oTs PSTisb Of he orleans
evidenced by note or notes OUT
Standinr at the time OF the adoption
of this amendment 10 an amount nc
exceeding Six hundred and b1fty Ihou-
sand Dollars ($65O,000) provided that
in the event that said Indebtedness or
anv mart thereof shall have been paid
Nv said Board out of its current reveA
nues previous to the adoptlon OF Ehls
amendment the amount thus paid lnot
70 exceed $3.50 90e, however,, shall be
paid over in cash to said Board 70 Re
sed by Y for school purposes. az pro-
Ce1 The payment OF the sum OF Five
Hundred Thousand Dollars ($500,000),
with interest thereon, borrowed by the
City of New Orleans for storm emergen-
H.
Cd1 The payment OF the overdraft or
other Indebtedness due by the City. OF
New Orleans to its fiscal agents or other
ta-ks ,reprrosenting loans or adv Sdvanees tSea,
those referred TO in paragraph (c) of
this section to an amount not exceed
ing in principal and interest the sum
ef One Million Three Hundred and t1I=
fy Thousand Dollars tsl,S5o. .000); and
Ger The balance of said proceeds
ahall be used and employed by the
Board Of Liquidation, city Dent LOT tae
payment OF Public Improvement Certln.
cates of the City OF New Orleans. az SET
forth in Section 8 Of this amendment
Section g. The remainder of the
bonds authorized by Section / OF this
Amendment or so much thereof as may
be necessary. sSail be sold, from time 70
time in such amounts as the Board OF
Liquidation, City Debt. may Determine:
shall be applied by said Board to the
payment of Public Improvement Certit1-
ePtes authorized by Act NO. So OF the
General Assembly Of the State OF Louis.
iara FOR the year 1908. and acts amenda-
tory thereof, and presently outstanding
or Issued at ANY time in payment 9f
Hrv contract made before this amenh-
nent takes effect of their respective
r~AtnrstiaR or when said matur't'es can
ts anticipated Upon terms satisfactory
W said Aet No. Sc of fg0S ana all
Amendments thereof, as we'll as all stat
IlteR ui9on the came subject, and 80
raueh OF Acts No i2S and no. 20 of
the rsarerai Assembly or taa state ef
Louisiana for the year 1910. an other
sfatjteg on tie same subject after. rs
FTay effect, apply or pertain to the City
Of New Orleans. be and the same a e
hereby rerea Ell; nevertheless fIDiIS
Improvement Certificates may be issued
Ii tie manner provide by said Act No
&c OF laos, aud amendments thereo1. IN
f1v-uent ofs any contract made before
Us arnhnhment takes effect
section i The City of New Orleans
nav also sEsile and negotiate its bonds
vyhen authorized by vote Of q majority
IN number ard amount or the property
taxrayers. who shall have been assessed
fnr p~onerty IN said city as shown by
tta last assessment made prior to the
s,anlisson OF the proposition TO the
s,si rrorertY taxgayers and who are
raheswfep qualified TO vote under the
Cost tetiOn End laws OF this state
~ ~ . AZ an election called by ordinanre
+ ted by a vote of two-thirds of all
fffn members OF ANE 1DuHflHbtoh 1(OAAt-
eli or It's successor as the governing
bnfiv ~ said City OF New Orleans, and
which ordinance before any such elec-
ftan ,s nr Tered shall be also adopted oy
vrte 81 three-fourths Of all the mem
he's ~ the Board OF Liquidation City
rht rne notice OF said election shall
- rthisRied for thirty days In the oih'
Gel spurral Of sail city (four weekly
irsartta, of said notice constituting q
plhl'eatRn for thirty days Rrovidec
thirt s,avH infervene between the date
cf the first insertion and the date OF
@nid elec.lon9
Nc bonds shall be Issued under TIM
SECTION for any other purpose or fol
e,,. greater amount than that stated II
fe s,'1nission of the proposition e
EsIS taxpayers.
tt'erce. storm or other public calamity
ff.e f7ftv OF New Orleans shall har'
.nSver bv a two-thirds vote OF all tn'
fnerbafs Of the Commission Council OF
its Successor as the governing, body o.
eaid city. concurred In by Q three
Srfrths vote Of all the members Of tn
Rrard of Liquidation. City Debt, z
brrrow money and issue and negotlat
honde in such sum, not exceeding ~
Hundred Thousand Dollars N50o,000l
es shall be necessary IN any one ssas'
emergency. -. ...n... - =.