The Natchitoches enterprise. (Natchitoches, La.) 1888-1965, 1916-09-14

funding all OF any parb of the BONDED
Indebtedness OF the City or New '2rleanES
existing at the time of the Adoption oL
this amendment, bonds may from l,.n7
to time be issued and negotiated i" neh
any of the issues of the BONDS 81 SSl'H
city outstanding at the 1ine oL Iis .o'so a.,oP
tion of this amendment shail Deco-He
cal}able according to their terms or t'te
statutes under which they are }espcSr
lively issued or when tie consent =.
ali the holders Of any SIch iSSle -
bonds can be secured. the Board CI Ii
uufdation City Debt, shal maze W
right in it's discretion to call a'li PaS
any one or more OF said Issues VI = :. - -
and shall be authorized by resolution
duly adopted to issue and negotiatt
bonds to provide the funds necebsa.
for that purpose; provided. h2WeFti.
that In no event shall the par value =
the bonds so sold and negotiated ea-
cee1 the par value of the borHed -
debtedress thereby to be refunds
Section 7. The full faith an ana /, creI.i 1se
for the payment of the principal ana Ill
terest Of all bonds issued under this
amendment. ,,o,,as
authorized by and to be issued unIeI
this amendment shall be paid pFl;naIIt
out of Q) that one-half of the SURPLUS
of the one per cent debt tax whlch mere
tofore has been dedicated TOT tne SUI
port and maintenance of the pu h..
schools CT said city, as Levied ui1.ie' 80, 49,
authorized ny Act No. 10 Of the Cen
eral Assembly of the state OF Lo.,e,s,iS, Lou!sIa,Iin
made part of the Constitution OF 6nts 6S
State. and 90. ter January |, l9zo,
that portion of the ore per cent uSo'
tax, authorized ana levied undeT Act t ~ ~
10 aforesaid and the two-mill tax au
thorized by an1 levied under Act 10.
of the General Assembly OF the state
of Louisiana for the year 1899 WIl1en .
shall have been released ana 1reel IRON
dedication either by the calling ana re-
funding or the payment IN que ~ &c
of all or any part OF the Donds s4istini tii
at the time OF the adoptIon u 80
amendment; pTeSided that, II the TUE
derived from tins sources aforesaid sndli
be insufficient In any enc year 70 Pay
the principal and interest OF ths H9t =
Issued under this amendment ana tlinI
outstanding and unpaid, or II Tor any
cause there shall not be FUNDS appto-
priated to or available FOR sucn PURPOSE
the City of New Orleans shall leVy =
tag upon all taxable property in sap
city euffieient to provide tor any suen
deficiency; and provided further tnst; may
when the afoi sssid ene per cent cent oe2t esx
tax and two mill water aRa ss~sr @ft,, Of of
New Orleans shall levy tax upon att
taxable property in said city slfllcleIls
to pay the principal and interest OF
said bonds as they respectively oeco-he
Section 5. Il is hereby i1tenasd anaTdnria. tnat
tions of said one per cent ae5t Lax an
thorized by said Act No 40 Of 1889 EeS-
cent with respect to the said eRe-na1t
Of the surplus of the one per cent deot
tag therein dedicated to public schoolslt
and of said two-miH water anl se"ef
tax. authorized by said Act No. OF
1898, shall be respected and pefforiael
according to the prioritjss BY SAID stat
utes established thst ell of that portion
Of the funds resulting from tne 5 lsVg 49,, ~
said appropriations and dedicat3ons ny
the payment, satisfaction or reIunqIhg
of any of the bonded debt obl}gatlohs
now charged thereon and there against
shall. together with the one-halt of the
surpIus of the one per cent DEBT tax
heretofore dedicated to pubic scnool
purposes. be used aRd appiled 20 ne
nayment of the Pfircigal end interest OF
All bonds issued under this amendment
that any residue thereof remaining aTter
the payment Of the principal ani inter,
est IN any ore year OF Don is auEn9rIze !
bv this amendraent shall be turned over
"a tlae IL IL n1ty,r 0xlea 70 lie used ~
AZ k s sslaale go ls@ -
when, and 70 tDe s.se w.
tiors now charged on said taxes snaA be
paid. satisfied or refunded. SAID taxes
shall be released from said obllgatlons,
and. ultimately, when entirely released
and discharged, shan ecass l9 Dg , ifrsot 5o,ss
asued under this amendment snan pe
provided for by tax upon ali taAdDie
property In the City Of New Orleans
H1I4fiplenI
terest of said bonds as they respectively
become due; provided. however, that, IN
the event the funds heretBa2ove speclal-
ly dedicated for the rayment OF tae
principal and interest of the bends IS
sued under this Amendment shorAI prove
ing1If1cfent the City Of New Orleans
shall, and it is HEREBY required 70. ieYys
in every such instance q tax az gpon Ie,, fsrl ~
leans necessary 70 pay the prlhefpai
and interest of said bon 9s
Section g. The princiral ana interest
of ali bonds authorized by this auen1-
ment shall be payable in gold coin Of
tfe HE tinted States Of America. CT its
anuivaient Of the standard OF Welghl
and fineness at the time of the issuance
OF each inetallment CT said bones.
Said bonds shall be exempt Irom ail
tagat.on for State parish, municipal or
other local purposes.
Savings banks. tutors of minors cura-
tors Of interaicts. trust es AM other
| fduciaries raay invest the funds In their
hand IN said bonds.
Said boHds may be usel for deposit
| with anv officer board. municipality or
| other political subdivision of the State
i of Louisiana IN any case where oy pres
/ ent or future laws deposit or security ls
i required.
/ leage1 from re istry unsa- such ruies
/ as the Boar Of Liquidation, City Dept
Section 10. All bonds Issued under
4
| Interest or. from time to time, different
| rates of interest, and shall, except us
| herein otherwise specially proSlded, pc
l In such form, terms and GenomlnaIio
/ and payable ct such times and places
| within a period of not exceeding atty
| years from the date thereof, az the
| Boerd of Liquidation, City Debt shall
| determine. Said bonds shall be issue
! in serial form and shall be payable IN
| annual installmentsl commencing nor
| more than two years from their rsspec-
tive dates. and the installment payable
lB each year shall be so flxed tnat, when
| the annual interest is added thereto, the
ecveral annual total amounts Of prin-
| clral and interest tn be paid shall ce
| Al reariy elu8i as practicable; Erovi1ea,
said installments may he hxe1 at ilys
thousand dollars or the neaFest multi
aid ia bSnss shall be signed by the
| Navor and the CommiEs .oner OF FuoiiF
finance of the City of New Orleans o.
9Ascers exercising s nit ar functions. ano
ses,s tersignei by tie President or Vice
rrexi7ent ana the Secretary or Assist
ant Secretary OF the Board of Li1uida-
ton, City Deot. and tho coupons at
saehed to said bonds shall bear the
fac-simile signatures of said 1ommFs-
rfpner of Public Finance and said Sec
retGry or Assistant Secretary. In cass
eny such officer whose signature
such bond or coupoa shall
lease to be such Cslcer befors
,.Iigerv bf said bond or coupon
IS The purchaser, such signature OF
c9urter signature shall nevertheless De
| valid for al purposes. The cost and ex.
Iense Of preparing and selling saie
honaa shall be paid for by the Board ol
liquidation, City Eeat.
Section IL All bonds issued under
us amendment s.lail be sold by TIT
ls1ard Of Lsluidat0ns CITY Debt 70 th'
a4-hsst bidder or bidders by sealed p2V
! LAS after due advertisement of noi
sa than five insertions in the ofEicia
| ;nurnal Of the City 81 New OEaeaas TN
rfnr II the date Of the salel, and sucs
efaer advert scmert in said city ol
elsewhere. as said Board of Liquidation
may in it's discretion direct; DFoyideu
eaid Board of Liquidation may reJec
any and all bids
Section ~. Except as otherntse pro
vIded in this amendment, the City O
New Orleans shall not borrow money