The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1916-09-02
ACT NO. No..

Il ACT NO. 11c..
= + F3ill No. 96 - BY Leon r. Smith.
@ JOINT RESOLUTION
ss&Sng an amendment to the Constitu-
&$a IN Of the State of Louisiana, provid-
No for the funding of certain debts of
&c City of Shreveport, and judgments
sagainst the said city, the issuance of
H serial bonds by said city, providing
A the purpose for and the manner in
which same may be issued, and the
ILL., duties of the City Council of the City
- of Shreveport, with reference thereto;
and the levying by the City Council of
Shreveport of certain taxes to retire
the bonds as issued herein, by said
city. And providing for the submis-
sion of said amendment to the electors
of the State for their approval or
rejection.
BE it enacted by the General Assembly
of the State of Louisiana, thirds of all
the members elected to each branch
thereof concurring, that subject to the
ratification and approval Of the electors
of this State, the Constitution of the State
be amended by Incorporating therein. the
following provisions, to-wit:
Section l. The City of Shreveport by a
four fifths vote of all the members of the
lily SOuIlclt tuGEGOl, SLcll have pOWGI
and is hereby authorized to issue 100000
of bonds, or SO much thereof as may be
necessary, to be styled City of Shreveport
Serial Gold Bonds, and to bear such rate
of interest as the City Council may fix
from time to time as each installment Of
the said bonds is offered for SALE as here
after provided; said rate of interest at no
time to exceed S per cent per annum
payable semi annually.
Section 2. The proceeds of said bonds
shall be applied to the payment and retire
ment of all certificates of Indebtedness
issued by the City of Shreveport prior to
May /, 1916, and to the payment of all
judgments rendered against said cityHhrior
to May 1, 1916.
Section g. All bonds issued under this
amendment shall be in such form, terms
and denominations. and payable at such
times and places, within q period of not
exceeding forty years from the date there
of, as the City Council Of Shreveport shall
determine. Said bonds shall be issued in
serial form and shall be payable in annual
instaIlments, commencing not more than
one year from their respective dates, and
the installment payable In each year shall
be SO fixed that when the annual interest
is added thereto, the several annual total
amounts of principal and interest to be
paid shall be as nearly equal as practi-
cable.
Said bonds shall be signed by the Mayor
and the Secretary Treasurer of the City
of Shreveport, and countersigned by the
Commissioner of Accounts and Finances,
and the coupons shall have the facsimile
signatures OF the Mayor and Secretary
Treasurer. In case any such officer whose
CT sY1n SIGNATURE who n
pears on such a bond or coupon, shall
cease to be such officer before delivery of
said bond or coupon to the purchaser,
such signature or counter signature shall
nevertheless be valid for all purposes.
Section 4. The principal and interest of
all bonds authorized by this amendment
shall be payable in gold coin of the United
hpf America or its equivalent, of the
8S weight and fineness at the time
ISSUANCE thereof, and shall be ex-
Il 81 pm all forms of taxation
+ z3 S. The full faith and credit of
- A Shreveport are pledged for the
# Il principal and interest of all
= s. under this amendment The
a interest of all bonds au-
dS 81 ~ ITO be issued under this
! S lll be paid out of tax which
ANNUALLY by the City Coun-
# 4s B Tort, upon all taxable prop
1ss&|s7 Ycity, sufficient to provide for
ht of the principal and interest
4 nds as they respectively become
8 8 tax so levied Is to be in excess
n y k heIal and special taxes provided
Il s. a. here in this constitution and is
d affected by nor to affect the
AAsewhere contained in the
Y ill.,! f2l Ms to the issuance of bonds,
nf fayeS w
=. Section 6. The provisions hereof are
half operative and the City Council of
aseveport may by ordinance carry them
effect.
> it further enacted, etc, That the
Endment proposed by this act shall be
fhitted to the electors of the State for
Weir approval or rejection at the Con-
gressfonal election to be held on the first
Tuesday after the first Monday in the
month of November. 1916: and there shall
be printed on the official ballot to be used
in said election, the words
For the proposed amendment to the
Constitution of the State of louisiana
providing for the funding Of certain debts
of the City of Shreveport"
the Constitution Of the State Of Louisiana
providing for the funding of certain debts
Of the City of Shreveport"
And each elector shall indicate on the
ballot cast by him whether he votes for
or against the FERR rHSpaoNseno a MonToN.
HEWITT BOUANCHAUD.
Speaker of the House Of Representatives.
Approved: : 5ul Z : pfI lilSs.s
Governor of the State of Louisiana
: JAMES I'M sSggs = BAILEY.
Secretary of state