The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1916-09-02
ACT NO. 11C.

Senate Bill No. 90 = BY Leon X. Smith
JOINT RESOLUTION
Proposing an amendment to the Constitu-
ton of the State of Louisiana, provid-
ing for the funding of certain debts OF
the City of Shreveport. and judgments
against the said city, the issuance OF
serial bonds by said city. providing
the purpose for and the manner in
which same may be issued. and the
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 il enacted by the General Assembly
of the State of Louisiana, two-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
he amended by Incorporating therein, the
following provisions. to-wit:
Section 1. The City of Shreveport by
four-fifths vote of all the members OF the
City Council thereof. shall have power
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 8 per cent per annum
payable semi-annually.
!. Section .. The proceeds of said bonds
s5ssll be applied to the payment and retire.
ment of-au certificates of indebtedness
issued by the Cffty>of Shreveport prior to
May 1, 1916. and TO the-nayment Of all
judgments rendered against said city prior
to May /. 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 a 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
ins.allments. 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 fac-simile
signatures OF the Mayor and Secretary
Treasurer. In case any such officer whose
signature or counter-signature, who ap-
pears on such bond or coupon. shal
cease to be such officer before delivery o.
said bond or coupon to the purchaser
such signature or counter signature shall
nevertheless be valid for all purposes.
Section l. The principal and interest o
all bonds authorized by this amendment
shall be payable in gold coin Of the Unite'
States of America or its equivalent, Of TIL
standard weight and fineness at the tim
of the issuance thereof. and shall be ex
empt from all forms Of taxation.
Section 5. The full faith and credit o
the City of Shreveport are pledged for tn
payment OF principal and interest OF al
bonds issued under this amendment. Tn
principal and interest of all bonds au
thorized and to be issued under thi
amendment. shall be paid out of tax whicl
shall be levied annually by the City Coun
ell of Shreveport, upon all taxable prop
erty in said city. sufficient to provide 70
the payment Of the principal and interes
of said bonds as they respectively becom
due. The tax so levied is TO be in exces
Of the general and special taxes provide
for elsewhere in this constitution and
not to be affected by nor to affect tn
limitations elsewhere contained in tn
Constitution as to the issuance Of bond:
and the levying Of taxes by municipalitie:
Section 6. The provisions hereof ar
seif-cperative and the City Council {
Shreveport may by ordinance carry ther
into effect.
Be IL further enacted. etc. That I'll
amendment proposed by this act shall b
submitted to the electors OF the State fc
eressionaI election to be held on the fir.
Tuesday after the first Monday In n
month Of November. 1916: and there sha
be printed on the offician ballot to be use
in said election. the words.
.For the proposed amendment to III
Constitution of the State of Louisian
providing for the funding OF certain deb
OF the City of Shreveport;
"Asainst the proposed amendment
the Constitution OF the State of Louisian
providing for the funding Of certain deb
OF and md each elector shah indicate on II
ballot cast by him whether he votes Il
or against the proposed amendment
49,, Gov a rEK P-as;d.n Mo Of he senat
~ HEWITT BOUANCHAUD.
Sneaker Of the House of Representative
Approved: July 5. 1916,
R G. PLEASANT.
Governor of the State Of Louisian
A JAMES fsss SsI 8. BAILEY.