St. Landry clarion. (Opelousas, La.) 1890-1921, 1916-10-07

| for the payment of the principal and IN
terest of all bonds issued under enis
amendment
The principal interest of all bonds
authorized by and to be issued unaer
this amendment shall be paid primarily
out of "a that one.half of the surplus
tofore has been dedicated for the sup
port and maintenance of n puolic
schools of said city. as levied under anu
authorized ny Act No. 10 OF the Cen
eraI Assembly of the State of Louisiana
| for the year 1880, and subsequent
made part Of the Constitution OF 6nts
State, and t2). after L. i ~:
tax. authorized and levied under ACT NO.
10 aforesaid, and the two-mili tax aus
| thortzed by and levied unde Act NO. .
of the General Assembly of the state
IF Louisiana for the year 1899 wnlcn
| shall have been released and freed from
| dedication either by the calling ana re-
funding or the payment In u course
! of all or any part of the bonds ex1sting
at the time of the adoption or TINS
| amendment; provided that, II the funds
| derived from the sources aforesaid snai.
be insufficient In any n year u pay
issued under this amendment men
| outstanding and unpaid. or II Tor any
cause there shall not be appro-
priated to or available for such purpose.
the CITY of New Orleans shal levy a
tax upon all taxable property IN salo
city sufficient to provide Tor any sucn
deficiency, and provided further tnaa;
| when the aforesaid n per cent dept
FAX and two mill water ana sewer tax
shall cease to be levied, the City OF
New Orleans shall levy a tax upon All
taxable property In said CITY snIneiens
to pay the principal and interest OF
said bonds as they respectively become
due.
AL existing dedication and a~ppropria-
| tons of said one per cent debt tax au.
thorized by said Act No ITO OF 1880 tex
cept with respect to the salo oHe-naI.
| of the surplus of the one per cent dept
tax therein dedicated to public scnooisJs
and of said two-mill water and eve
tax, authorized by aid Act No. 3 OF
1899. shall be respected and perLormeu
according to the prtorities by SAID stat
| utes established; that all of that portion
| of the funds resulting from the levy OF
| said taxes which shall be released from
said appropriations and dedleatinns oy
| the payment. satisfaction or refunding
of any of the bonded debt obligations
| now charged thereon and ~here-asains
shall, together with the one-half or the
! surrlus of the one per cent debt tax
heretofore dedicated to public school
PURPOSES. be used and applied to the
| paymen of the principal and interest OF
all bonds issued under this amendment
that any residue thereon remaining arteF
the payment of the principal and inter-
est IN any one year of bonds authorized
| by this amendment shall be turned over
to the city of New Orleans, to be used by
II for general municipal purposes; but
when and to the extent that, the obliga-
| tons now charged on laid taxes shall be
paid. satisfied or refunded. said taxes
| shall be released from said Obligations
| and. ultimately. when entirely released
and discharged, shall cease to be leViel.
and. that, thereafter. my and all bonds
issued under this amendment shall be
provided for by a tax upon all taxaple
property in the City of New Orleans
| sutilcient to pay the principal AMI IN
| terest of aid bonds as they respectively
| become due; provided. however. that. in
| the event the funds ~hereinabove special
ly dedicated for the payment Of the
| sued under this amendment should prove
| insufficient. the City of New Orleans
| shall, and it is hereby required to. levy
taxable property in the City of New Or
| leans necessary to pay the principal
and interest of said bonds.
Section 9. The principal n interest
| of all bonds authorized by this amend-
ment shall be payable in gold coin OF
| the United States of America, or It's
| equivalent. of the standard of weight
and fneness at the time of the issuance
of each installment of said bonds.
Said bonds shall be exempt from all
taxation for State. parish, municipal or
other local purposes.
Savings banks. tutors Of minors. cura-
tors OF interdiets. trustees and 9tner
| hand in said bonds
Said bonds may b. used for deposit
with any officer, board. municipality. or
| other political subdivision of the State
of Louisiana in any case where by pres
ent or future laws deposit or security 10
| required.
Said bonds may be registered and re-
leased from registry under such rules
as the Board of Liquidation, City Debt,
may prescribe.
Section 10. All bonds issued under
this amendment shall bear such rate or
L 500 1n~ FrrpoE firm - TN fipna diff rant
rates of interest. and shall except as
herein otherwise specially provided. be
In such form, terms and denominations,
and payable at such times and places.
years from the date thereof, as the
Board of Liquidation. City Debt. SHAH
determine. Said bonds shall be issued
in serial form n shall be payable In
annual installments. commencing not
more than two years from their respec-
tive dates, and the tnstalfment payable
In each year shall be so fixed tnat. when
the annual interest is added thereto. the
| several annual total amounts of prin-
J cipal and interest to be paid shall De
as nearly equal as practicable: provided,
! said instaflments may be liked at nve
thousand dollars or the nearest multi
| pie thereof.
laid bonds shat be signed by the
Mayor and the Commiss .oner of Public
Finance of the City OF New Orleans. or
officers exercising similar functions. and
countersigned by the President or Vice
President and the Secretary or Assist
ant Secretary of the Board of Liquida-
ton, CITY Debt, and the coupons at
tached to said bonds shall bear the
fac-simile Signatures of said Comm's
sioner of Public Finance and said Sec
rotary or Assistant Secretary. In case
any such officer whose signature
or counter-signature appears upon
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 De
valid for all purposes. The cost and ex-
pense of preparing n selling said
bonds shall be paid for by the Board or
Liquidation. City Debt.
Section Ii. AIS bonds issued under
this amendment shall be sold by the
Board of Liquidation, City Debt. to the
highest bidder or bidders by sealed pro-
posals after due advertisement OF not
journal of the City OF New Orleans tire
first insertion to be at least fifteen days
Erior to the date of the salel. and suer
other advertisement, In said city or
elsewhere. as said Board of Liquidation
may In its discretion direct; proylued,
said Board of Liquidation may reJeci
any and all bids
yided in this amendment. the city OF
New Orleans shall not. borrow money
issue bonds, notes or other evidences Of
indebtedness or pledge its credit or an.
ticipate the collection of any OF its
taxes.
No money shall be drawn from tne
treasury of said city without SPECIFIC
appropriation therefor previously made
mo- shall said city make any contrac,
i or incur any debt OF obligation for any
purpose whatsoever unless sufficient
funds, not otherwise appropriated. te
pay and discharge same are actually IL
| making the contract or mourning tins
debt or obligation end are specifically
set aside and dedicated to said purpose
unless herein otherwise provided The
FOREGOING limitation n Restriction
shall not apply or Re held to apply te
contracts or obiigatio incurred with
respect to the furnishing to said city oil
| light. heat or power, water. telephone
say.,sca or oarhae e removal or destrue.