The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1916-09-23

I'LL DE Ely pSTG pL kuG HU4lUS GAlSEtIH AT
the time Of the adoption of this amend |
rnent; provided that, if the funds derived
from the sources aforesaid shall be in
epai and interest s Of the Bonds issued
under this amendment and then out
! standing and unpaid, or if for any cause
/ or available for such purpose, the City of
| New Orleans shall levy tax upon all
taxable property in said city sufficient to
provide for any such deficiency; and pro-
vided further that, when the aforesaid one
per cent debt tax and tWo-min water and
sewer tax shall cease to be levied, the
| City OF New Orleans shall levy tax upon
all taxable property in said city sufficient
to pay the principal and interest of said
bonds as they respectively become due.
Section g.. 1t is hereby intended that all
existing dedications and appropriations of
said Act No 10 of 1890 except with re-
4 spect to the said one-half of the surplus
| of the one per cent debt tax herein dedi-
Gated to public schools. and of said two
Xe anS Of 1885, sha BE- e
and performed according to the priorities
by said statutes established; that all of
the levy of said taxes which shall be
released from said appropriations and
dedications by the payment, satisfaction
obligations now charged thereon and
there-against shall, together with the one
half of the surplus of the one per cent debt
purposes, be used and applied to the pay
ment of the principal and interest of all
bonds issued under this amendment; that
any residue thereof remaining after the
payment of the principal and interest in
any one year of bonds authorized by this
amendment shall be turned over to the
City of New Orleans to be used by it for
general municipal purposes, Cut when.
and to the extent that, the obligations
now charged on said taxes shall be paid,
satisfied or refunded, said taxes shall be
released from said obligations, and, ulti
mately, when entirely released and dis
, that, thereafter, any and all bonds issued
!. under this amendment shall be provided
for by tax upon all taxable property in
the City Of New. Orleans sufficient to pay
the principal and interest of said bonds as
they respectively become due; provided,
that N the event the fo funds ad
: | payment of the principal and interest of
, the bonds issued under this amendment
/ Orleans shall, and it is hereby required to,
+ levy in every such instance a tax upon all
: taxable property in the City OF New
) Orleans necessary to pay the principal
! and interest of said bonds.
i section 8 The principal and interest OF
United States of America, or it's equiva-
lent 81 the standard Of weight ana fine,
+ | installment of said bonds.
Said bonds shall be exempt from all
/ taxation for State, parish. municipal OF
Savings banks, tutors of minors, cura-
i tors OF interdicts, trustees and other
: hduciaries may invest the funds IN their
. Said bonds may be used for deposit with
h any officer. board, municipality or other
! political subdivision of the State of Lou
= isiana III any case where by present OF
a future laws deposit or security is required
h Said bonds may be registered and re-
a ir9m regs5y umdeT sucn e Taies as
prescribe.
!, Section TO- All bonds issued under this
!, amendment shall bear such rate of In
y y terest or, from time to time different rates
p = of interest, and shall, except as hereiT
: otherwise specially provided, be in such
, form, terms and denominations, and pay
i able sat such times and places, within 9
q period of not exceeding fifty years iron
9 the date thereof, as the Board OF Liquida:
2 ton, City Debt, shall determine. Sale
:, bonds shall be issued in serial form ane
l. shall be payable IN annual installmenfs
4 en- not more IMAM ta year II
e stalIments payable In each year shall bt
n so fixed that, when the annual interest j:
added thereto, the several annual tota
Is amounts of principal and interest to b.
I paid shall be as nearly equal as practi
e cable; provided, said installments may b
g fixed at five thousand dollars or the near
II est multiple thereof.
E. Said bonds shall be signed by the Mayo
Il and the Commissioner Of Public tfnane,
+ exercising similar functions, and counter
ii signed by the President or Vice-Presiden
) of the Board Of Liquidation, City Debt
ID and the coupons attached to said bond
It shall bear the facsimile signatures Of sal
t, Commissioner Of Public Finance and sail
N Secretary or Assistant Secretary. LII cas-
N any such officer whose signature or coun
ter-signature appears upon such BON
N before delivery of said bond or coupon t
is the purchaser, such signature or counter
$ Signature shall nevertheless be valid TO
re all purposes. The cost and expense o
lie preparing and selling said bonds shall 3
or paid for by the Board of Liqvadatior
,e City Debt.
IS amendment shall be sold by the Board 9
" Liquidation, City Debt. to the h1ghes
lie 9iuag adVertisement Of not less than nv
insertions i'm the official journal Of th
rs City Of New Orleans (the first insertion t
ty of the saIe), and such other advertise
ty ment, in said city or elsewhere, as sal
ID Board of Liquidation may IN it5 dlseTe tio
lie direct; provided, said Board OF L1quidatio
s. may reject any and all bids
tyi Section 10. Except as otherwise pro
ed yided in this amendment, the cry Oh NE; Ne,
ed bonds notes or other evidences OF ~
O. debtedness or pledge its credit or an
y Mo money shall be drawn from II
IS, treasury of said city without, specif1
eh appropriation therefor previously mad ma
n incur any debt or obligation for any. pul
ty nose whatsoever unless sufficient fund.-
not otherwise to pa pay fra an
as ury of said city at the time or making Tn
IN contract or mourning the debt or obHga
n Hon and are specifically set aside an
st dedicated to said purpose, unless heIei
otherwise provided. The foregoing nm
lis tation end restriction shall not apply {
M he held to Apply to contracts or obHgatlo
b. incurred with respect to the furnishing
& said city of light, heat or power, Wate
Telephone service or garbage remoVal
IL destruction 70.
ar in authorization of the collection OF U
rs taxes of such calendar year, and Tor III
O. purposes for which such taxes are ieVie
" borrow such sums as shall not pc
of excess of the amount OF It's unconecls
a. taxes of such year, and may \
nd notes or other evidences OF lndepleoII,es
m, therefor, and Sucls sum n9 ,., e. o M,
nv able only out of the taxes OF the calen ~ I
year in which said loan or loans are NJ III
ne made, and for which Indebtedness So
SIS revenues shall be pledged, and sa az
he debtedness shall not be payable OUT
=, =, any other funds or moneys whatsoeVe
a al No money shall be borrowed by the sa
% eifv except for current municipal pu
at | noses and in no event shall any mons
a. he borrowed by said city TO make OF
to nav for works of public 1mproVems 4.
oh Said city may issue for stfeeI paw
he purposes certificates on It's faltn a
lb | eerafit pursuant to legislative authorit
"a "a 70 an amount not in excess of any spsci
! | assessments which have been or shall
NJ | made for such purposes SucH PaSiI,
~. ~ | nartificates hereafter issued shall
Nv ehargeable primarily against the speci
~ 70 assessment in respect of which they "a a