The Natchitoches enterprise., 1916-11-02
Act 20. ITO

Senate Bill No. 96 Rv leon X. Smith
A JOINT RESOLUTION
I Proposing an amendments to the Con-
stitution Of the State-.of Louisiana,
| providing for the funding OF certain
debts Of the Cit 81 Shreveport. and
| judgments aEairTt the:said city, the
issuance OF serial bonds hv said city,
providing the pIrposc. for and the
manner in which sar.5 may be is
sued. and the d'-ioe 81 the City
Council of the Cftv II Shreveport
with reference =: ."cto--and the levy
ing by the Cit RI" "-sil of Shreve-
port of cerfn n TO retire the
bonds as iseu i~: hv said city;
and proVfdin" IN" tssion Of
said amen1ncr ctors of
the state for tt'r II oval or re-
lection.
Be Il enacted by The GENERAL Assem-
bly, of the State of Louisiana, two
thirds Of the mentors et.cted to each
branch thereof coaourr!a15. that, sub
ject to the ratifca ION ana approval of
the electors Of this Stats. the Consti-
corporatinc therein the following pro-
visions. to-wit:
Section 1. The City cSf Shreveport,
by a four-ffths vote of :a1l the mem
bers of the City Council shereof. shall
to issue $500 oo0 Of bondy. or 80 or much ch
thereof as may be necessary, to be
styled City of Shreveport Serial Gold
Bonds, and to bear such rate of inter-
est as the city Council may AK from
time to time. as each isstallment Of
the said bonds is offered for sale, as
hereafter provided; said rate of inter-
est at no time to exceed per cent
per annum, payable seml-annually.
Section .. The proceeds of said
bonds shall be applied 10 the pay
ment and retirement of all certificates
Of Indebtedness issued by the City of
Shreveport prior 10 NAV 1. 1915, and
to the payment of all Judgments rem
dered against said city cDrtor to May
1. 1915 :.
Section 5. All bonds ISSUED under
this Amendment shn1 he In such form.
terms and donomiua ions. and payable
at such times and o'acess: within a pc
Rod Of not exceedIna fortv wears from
the date thereof. as the C1ty Council of
Shreveport shan detcFtnine Said
bonds shall be ! I'd d. serial form
and shall be pa lie III annual in
stalln1ents. con1m"t ing bot more than
one year from ~ T. roe1Soctive dates,
and the tnstalin paEa BE in each
year shall he so q sat when the
annual Interest + - Z: hereto. the
several annro' fnt ~ OF prin-
cipal and intrr"-' ~ shall be
as nearly eGua HE
Said bonds = led by the
Mayor and the r-s.s~ -sT'reasurer OF
the City OF Shrc nd counter
signed ny the @ -;rers of Ac-
counts and Fina>~ " he coupons
shall have the fac-tf- SIGNATURES
OF the Mayor and Sncr"'=s-p Treasurer.
In case any such Officer -:"hose sigma
ture or counter Si~uaturS who an
pears on such bond or coupon. shall
cease to be such officer -@AfOra deIiv- i
erv OF said bond or coun5i1 TO the DUR !
chaser. such signature ~: oounter-sig-
nature shall neverth"lr IS ne valid for ?
ar purposes.
Section 4 The DrirrTv9aI and Inter
est OF all bonds authorized by this
amendment shall be pa fable in gold /
coin of the United States of America |
or its equivalent of the standard |
weight and fneness AZ tlre time of the
ISSUANCE thereof and 81 al he exempt /
from all forms OF taxation.
Section s. The full faith and credit
OF The City OF Shreveport are pledged
for the payment OF principal and in
terest Of all bonds issued under this
est Of all bonds authorized and to be
Issued under this amendment shall be
paid out Of tax which shall be levied
annually by the City Council of
shreveport upon all taxable property
In said city. sufficient to provide for
the payment of the principal and in
terest OF said bonds as they respective
~ become due. The tax So levied is to
be In excess of the general and special
taxes provided for elsewhere in this
Constitution. and is not 70 be affected
BY nor to affect the limitations else
where contained In the Constitution
- to the Issuance OF bonds. and the
evyiRg OF taxes by municipalities.
Section 8. The provisions hereof
ire self-operative, and the City Coun-
I'll Of Shreveport may by ordinance
larry them into effect.
Be II further enacted, etc, That the
I'm endment proposed By this Act
hall be submitted to the electors of
he State for their approval or retec-
Ion at the Congressional election to
10 held on the first Tuesday after the
lrst Monday in the month OF Noyem-
Der, 1916; and there shall be printed
n the oficial ballot to be used in laid
lection the words. For the proposed
.mendrncnt to the Constitution or the
Dtate Of Louisiana providing for the