New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1916-10-21

subsequent legislative authority mt i,
conflict he euith, p45.4iel, h5aeje-
/ that paving certificates. for which thu
faith and ,redit of the City Of New o.
leans shall be pledged whe mr. issu.
under the afcresaij Act No. D. Of 10
or under subsequent legislation. shall no,
at anv time be outstanding in an amount
in escess Of Five Million Dclla,s
tS5,o00.o00 in face value.
Section - The total issue Of bond.
by the City of New Orleans FOR all put
poses shall never exceed ten pe, cen,u -
of the assessed valuation of the prop
erty in said city; provided. however. that
neithe, the bonds issued for water. sew
erage and drainage purposes namely.
the S12000000 Public Improvement
Bonds issued under said Act No of
1900 aud the s9,OOO.OOO New Public I'm
provement Bonds issued under Act No,
1o of the General Assembly of the State
of Louisiana for the year 1906, and acts
amendatoty thereof and supplement, al,
thereto az well az such bonds. hereby or
hereafter authorized into which the
aforesaid bonds or any part thereof may
be refunded,, nor the $2O00O0O Public
| Belt Railroad Bonds authorized by Act
| No. 17o of the General Assembly of the
State Of Louisiana for the year 1908. nor
| any bonds hereafter authorized for Pun
lie Belt Railroad purposes, nor any
bonds which may hereafter be issued for
| water supply or for the acquisition or
| construction Of any revenue producing
public utility. nor any paving certificates
primarily chatgeable against special as
sessments for street paving. shall be in
cluded in computing the indebtedness of
said City Of New Orleans under this lin
itation; and provided further. that emery
ency bonds may be issued as authorized
in Section 5 of this amendment eve,
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 an other bonds that may
be issued hereafter under this amend
ment there shall be included in the com
putation said Nine Million Dollars of
bonds, Notwithstanding the fact that oil
of said Nine Million Dollars of bonds
shall not have been actually issued, and
such amount of emergency bonds az
may ne then outstanding.
Section ID. The Board of Liquida- |
ton, City Debt, as now organized and |
created and with the powers, duties and
functions prescribed by existing ,sws
and by this amendment, shall be con
tinued while any bonds authorized by |
this amendment are outstanding and
unpaid; and all taxes which may be
levied for the payment of said bonds
shall, day by day as collected, be paid
over to said Board, and shall by il be
applied in payment Of the principal and
interest of said bonds; and said board
shall with respect to all bonds authorized
by this amendment be entitled to ex-
ercise all the rights and enforce the per
formsnce of all the obligations, the
same as it is authorized to do under laws
existing at the time of the adoption Of
this amendment with respect to any Of
the presently outstanding bonds of said
City of New Orleans. All funds, prop
efty and things of value held by the
Board of Liquidation, City Debt, for
bonded debt purposes other than taxes
now or hereafter levied, and particularly
Ill funds, property and things Of value
now or hereafter held by said Board un-
Ter Act No. 1873 of the General Assembly
Of the State Of Louisiana for the year
1880 and all amendments thereto, shall
when released from contract obligations
u dedications imposed by laws existing
It the time of the adoption of this
be used and employed in ,
he discretion of said Board in payment
Ind retirement of any bonds of /,
he City of New Orleans then outstand- ,
ng.
Section IS. For general municipal {
purposes, exclusive of the support and !
maintenance of the public schools and
he payment of the bonded debt of the I
sity of New Orleans, said city may in I
ach year levy upon all taxable property =
within said city tax not exceeding six c
nd one-half mills on the dollar of the I
thereof; provided, /
owever, that when the one per cent debt 9
AK authorized by said Act No. ITO of .
800 and the two mill water and sewer {
Az authorized by said Act No. of 1899 8
hall both have ceased TO be levied, and b
{ thereafter the taxes levied by the City c
New Orleans in any one year for
cnded debt purposes be less than ten t,
nils, said city may in such events levy c
or it's general purposes such additional G.
N which, when added to the tax Of six o
nd one-half mills hereby authorized n
nd the taxes levied for the payment b
( the principal and interest of its bonds q
) they severally mature, shall not ex- 81
sed in the aggregate sixteen and one Il
alf mills. p
Section Is The reservation of twenty !,
er cent of the revenues Of the City Of e.
lew Orleans shall not hereafter be made Z
, directed by Section 40 of the Act No. Of
59 Of the General Assembly of the
tate Of Louisiana for the year 1912, ex- II
spt insofar ~ the fund 30 directed to l.
. reserved shall have been appropriated r
/ dedicated before this amendment 81
lkes effect TO the payment of any OBJ ii
Cation Of the City Of New Orleans. and Il
lid reserve fund Of each year, when re- =,
ased from the obligations charged b.
yainst Il BY law and because Of con- b,
acts eristiuu NJ the time of the adop- m