The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1916-10-28

all o. ans part uf The bonds existing a.
the time Of tn. adoption ~ tbls amend
WeHt provided that II the funds derive
from the sources aforesaid snail De lu
sufficient Ih ans ube Eea TO pas TIE HtH
CiEal and Interest If the bonds issued
under this amendment aHi then gBt
standing aNI unpaid, 1T II Tor ans cause
there shall gal BE funds appropriated o.
~ available fat such purpose, the titg =
NvW Orleans shalt s"N} ttN upon aH
taxable property ta ssid li.y sufficient o.
provide for 4H5 such deficiency and pro
tHiFI t#FfHfF tb8f. WHsH the aforesaid eHs
GftI cent debt Las INi tHa fuIlI water and
seNrf TAX shaft ,s8sa - be levied, tHf
1lty Of NeH Orleans shall lrty "a ttN gpuu
Hll IaRtlty property iH said tilb HH53l, ttHi
lH pay tbs principal and interest ~ said
bonds as lhay respectively become due.
section II is hereby intended that aH
existing dpIigatluus and appropriations If
sBid one per cent debt TAX authorized t1
sata Act No. ito u lsHH 5skCppt with &C..
sEryt 10 tHy said one- hall Jf the surplus
~ the uH. Ter cent debt tax herein desti
rttri Ca putiI srhuutst sHH - said two
mill AHttr aNd sewer tss. authorized hf
said Act Sn q 81 1879, shall be- respected
and performed according o. the prigtities
~ said statutes sai4bl shad that al ~
that portion ~ tHe funds resulting from
the lrFN 81 said taxes which shall be
released fruFu said aGpt apgIati0Hs and
declarations hy the A{Wf8', satisfaction
~ rsfuNtluE Of aHy ui It's bonded debt
Obligations HoW charged thereon and
there against shall. together viii thg enc
half ut The surplus Of the ole per CUHt debt
iaS heretofore dedicated - public school
purposes. he used and applied To- the Vay .
WsNt ut ihe principal auj interest ~ Hli
bonds isalFa under this amendment. that
ans residue thereof remaining after The
pas Hebt Of the principal ana Interest iH
lh} cite ear ST tutds authorized D. uUE
amendment Nhail be turned over e. the
'#tS II Sew Orleans Co lee Used hA it Tot
general municipal purposes bal vbyH
and 81 the extent that, the Obligations
nos charged uu said taxes shall be- paid
satisfied 81 refunded. sai1 taxes shall br
released from said obligations. and ultl.
Inateiyt sheti suiireiE released and di+
charged, shalt cease o. ha levied. BH4.
That, thtreAftrgr any aud ali bonds issued
under this amendment shall he provided
toT ty a taA upon all taSable property lU
The t1ty II NeR Orleans sufficient g. pas
The principal and interest II said bonds as
hey respectively become due provided.
how Yrr, that. 30 the event the funds
hefoiuabuye specially dedicated tor The
payment Of the principal and interest II
he bonds ISSUED uuder THIS amendment
should prove Insufficient the cts IL New
orleans shall and II - hereby required TO
irtl M pFCr5 such Instance 4 tax upon all
taxable property lH the City II New
orleans tee esHbfy Go pa the principal
tni interest ot said bUuda
section e the principal auI interest OF
lH bonds Authorized bY this amendment
shall he payable IN gold coin ~ the
Httgi states II AH&eriga or is equiya.
lieut. ~ the standard II weight and tine
hess at the time Of the issuance II each
lHsiallmeht az said hUnda
sali bonds shall be exempt from all
taxation Tor state, parish municipal 81
other local purposes
wings hanks, tutors If minors. gura-
tors Il lHfeFdtgts, trustees ana other
HaagHrlsF mas invest the funds in their
hands ia sad hoHdg
Sati boHds na} ho used Tor deposit with
an5 officer board, muniv pahty or other
political subdivision II tn state ~ Lou
sistia Ia aI} case where by present or
future laws deepest, or security is required
said bones WBs be registered and re-
leased from registry under such rules as
the Hoard at liquidation tItt Debt may
prescribe
section o. All bonds Issued under this
amendment shall hear such rate II tn
tetest or. from time 10 time, different rates
~ interest Aud shall eNJept az herein
otherwise specially prov tded. he iu such
form terms aud denominations and ray
able al such ri5aeS and places within
period Ut Hut exceeding nifty years from
the tate thereof ~ the ftplrd ~ iiquffla
dion. city Debt shall determine said
bonds shall tte Issued iH serial suFH aHd
commencing net more than tWu years
from their respective dates, aud the IN
staiiiuents pas able ~ each yrhr shall he
so tiaed that, when the annual interest IL
added thereto, the several annual total
amounts At principal and interest tu he
PAID shall he as nearly equal as pfacti
cable pros led Haid installnenss may be
HAed at fNp thousand dollars OF the near
est multiple thereof
said tpuas shall be signed by the MAYOR
and the Commissioned Of Public Finance
IL the cats ~ NeR Orleans or officers
exercising Eiratk.r fuuy tioas, ana counter
stguei by the President or Vice President
aud the Secretary or Assistant Secretary
Of the Hoard ~ Liquidation, city Debt.
and the coupons attached 60 Haid bonds
shall hear tie facsimile signatures - said
Commissioner If Public Finance aud sAid
secretary CT Assistant Secretary In ease
any such officer whose signature or CouE.
ter signature appears uppu such a bond
90 coupon shat cease to he such officer
before delivery uf said bond ar soupuu 20
The Fure haser, such signature or counter
signature shali het erthelesr be valid for
all purposes The cost and expense of
preparing and selling said bonds shall be
paid for ~ the Picard ~ Liquidation,
tts t'sht
SECTION H. AT bonds issued under this
amendment s'tH3 be sold by che beard 81
Liquidation city Debt, 10 the highest
bidder or hddets hy sealed proposals after
iHs ads eftts.ueut ~ net less than i've
Insertions In the official journal ~ tht
city Il NeW Orleans ithe first Insertion 90
he "a least HfteUu DAYS pFigF 10 the date
ri the stlyt and such other advertise
trent, 81 said city or elsewhere, as said
iiasfd q Liquidation may IN is discretion
direct provided said Hoard II Liquidation
mas reject ans and ali bids
section l2 Except "a otherwise pro
3 istct tH this amendment the city Of SsN
Orleans shall not borrow money, issue
bonds. hotss rr other evidences %! In
1shtedness 80 pledge It's credit 81 an
ticlpate thC collection af aHy ~ It's taxes.
Ne money shall be drawn from tbs
treasury a said rltl without specific
therefor Preyiousty made,
nor shall s4tl st,y make any contract or
Incur aus debt az obligation fgf any par
pose shatEuetef Unless sufficient funds
mot otherwise appropriated. 20 pay and
Nry ~ said ritl 81 the time ~ making the
ten ard are specifically set aside ard
teGieated to said purpose. uflrsa herein
otherwise provided fhn foregoing lml.
tatioI aud ystFiltluH shah NOT apply AZ
b. held - 1ppy 10 contracts 81 obligation
Incurred Wtth respect 90 the furnishing e.
said city ~ light heat nr power, water.
telephone service or garbage removal of
destruction
The said e,ty msy IA aag calendar year
~ anticipation II the collection ~ the
taxes % such calendar year. and for the
fuf Wh}sh such taxes are levied,
borrow surh sum AZ shall nos Zee IN
excess u the amaHgt ~ is uucullerted
taxes II such year ard Way ISSUE It's