The Natchitoches enterprise. (Natchitoches, La.) 1888-1965, 1916-09-21

or incur any debt or obligation for any
purpose whatsoever unless sufficient
funds, not otherwise appropriated, TO
pay and discharge same are actually IN
the treasury OF said city at the time OF
making the contract or mourning the
debt or obligation ana are speclIcaIly
set aside and dedicated to said purpose,
unless herein otherwise provided. The
foregoing limitation and restriction
shall not apply or be held to apply to
contracts or obligation incurred with
respect to the furnishing to said city or
light heat or power, water, telephone
service or garbage removal or destruc-
tfon.
The said city may In any CALENDAR
year in anticipa tton of the collection of
the taxes of such calendar year. and for
the purposes for which such taxes arc
levied, borrow such sums as shall not
be- in excess of Che amount of its un-
collected taxes of such year, and may
issue its notes or other evidences of
Indebtedness therefor, and such sum,
notes or other evidences of indebted
ness shall be payable only out OF the
taxes of the calendar year in which said
lean or loans are first made. and for
which Indebtedness said revenues shall
be pledged, and said indebte mess shall
not be payable out of any other funds
or moneys whatsoever No money shall
be borrowed by the said city except Tor
cgrrent municipal purposes, and in no
event shall any money be borrowed by
said city to make or to pay for works
OF public Improvement. Said city may
Issue for street paving purposes certi1-
Gates on its failn and credit pursuant 10
legislative authority, to an amount not
In excess of any special assessments
which have been or shah be made for
such purposes. Such paving certificates
hereafter issued shall be ehargeabie
primarily against the special assess
mentS in respect of which they are is
sued, and secondarily against the reve-
rfIa nf he ~ nf 6pFiVpl
from taxation for general municipal
purposes and from sources other than
the taxes for the payment of the primer
pal and interest of the bonds now out
der this paving certificates only in the
event and to the extent that sucn
amendment, which reYnues shall be ap-
piled in payment of such special assess
ments shall be insufficient for such pay
ment, and reimbursement shall be made
to the general funds of the City of New
Orleans when the assessments are col
lected to the extent Of the amount that
the said general funds shall have CON
tributed to the payment aforesaid. Sc
much of Act No. 20 of the General AS
sembly of the State of Louisiana for the
year 1914 as may be inconsistent here
with is hereby repealed, and hereafter
no paving certificates shall be issued
upon the pledge of the reserve fund OF
the City of New Orleans but such GER
tiacates shall be secured as herein and
subsequent legislative authority not III
cenh1ct herewith; provided. however
that paving certificates, for which the
faith and credit of the City of New Or
under the aforesaid Act No 23 of 1914,
or under subsequent legislation, shall
net at any one time be outstanding in
an amount in excess of Five Million
Dollars (S5,000,0 000) in face value.
Section 13. The total issue of bonds
BIZ the City Of New Orleans for all pur-
poses shall never exceed ten per centum
of the assessed valuation Of the proper
ty in said city provided, however, that
neither the bonds ISSUED for water,
sewerage and drainage purposes tname-
ly, the $I2, 200, 900 Public Improvement
Bonds issued under said Act No Of
1899 and the 100000 New Pub
iic improvement Bonds issued nn1
OF the State OF Louisiana
for the year 1906. and acts
aEaendatory thereof sand supplemental
tReEstcs e Wsll az such bonas. hers2y
be refunded1, nor the x2, 2,000,000 Public
Bolt Railroad Bonds authorized by Act
No. 17s of the General Assembly of the
state or Louisiana for the year 1908.
ncr any bonds hereafter authorized for
Public Belt Railroad purposes, nor any
bends which may hereafter be issued
for water supply or for the acquisition
or construction OF any revenue produce
ing public utility, nor any paving certif-
Gates primarily chargeable against spe-
cial assessments for street paving, Shall
be included in computing the indebted
ness of said City of New Orleans under
this limitation; and provided further,
that emergency bonds may be issued as
authorized in Section of this ameno-
uaant even though said limitation shall
have been reached provided that the
Nine Million Dollars of bonds authorized
by Section ! OF this amendment shall
not be subject to the limitation herein
fixed at the time or times that same
shall be issued but, with respect to
any other bonds that may be issued
tereafter under this amendment there
STALL be included in the computation
said Nine Million Dollars of. bonds, not
wsthstanding the fact that all of said
Nine Million Dollars of bonds shall not
-hGve been actually issued, and sucn
amount of emergency bonds as may be
then outstanding.
Section IA The Board of LiquIda-
tion. City Debt. as now organized and
created with the powers, duties ana
functions prescribed by existing laws
ard by this amendment, shall be con-
ttslued while any bonds authorized by
this amendment are outstanding and un-
psid; and all taxes which may be levied
for the payment of said bonds shall day
by day as collected, be paid over to said
Bnard, and shall by 1t be applied in pay
nnant of the principal and interest OF
said bonds; and SAID board shall with
respect to all bonds authorized by this
amendment be entitled to exercise ali
the rights and enforce the performance
of all the obligations. the same as 1t is
authorized to do, under laws existing at
the time of the adoption Of this amend
mgnt with respect to any OF the present.
ly: outstanding bonds or said city OF
things of value held by the Board of LII
auidation City Debt. FOR bonded DEBT
purposes other than taxes now or here
after levied. and particularly all funds.
property AMI things of value now or
hereafter held by said Boar1 un Ter Act
No 133 of the General ssembly of the
State of Louisiana for the year 1850
ans5 all amendments thereto. shall when
released from contract obligations or
desIica tfons imposed by laws existing al
the time of the adoption of this amend
fnsnt be used and emptoye1 in the dis
creation OF sail Boari in payment ana
retirement of any bon4s Of the City or
New Orleans then outstanding.
Section is. For general municipal
PURPOSES. exclusive Of the support and
ma mt srareS 'ot the Yualtc snhoets ana
the pay4nert of the hen ed lpbt of the
each year ley u1 y o. tayable property
within sal: citv tax exec ing
siy and eee-hal Sis on the dol a. Of
the assessed valuation thereof; pro-
yicied, however, that when the one per
cent debt tax authorized by said Act No.
1f9 OF 1890 and the two mill water ana
sasve- tax autnar' p by sad Att No 6
oflSs9 shall both nave ceased to be lev
led. az 4 therea I tlle M leEted ~
year for bon led deLt purposes be less
than ten nils, said city may in such
events levy for it's general purposes
such additional tax which. when adiei
to- tie fav Of ST. ane-Nal NILS
,srs.., ! !, 5tl,nrsse she taxes levtAd
fos the raysiest e ri nrF al AMI
inter st - fs s thev Sc orally