St. Landry clarion. (Opelousas, La.) 1890-1921, 1916-11-04
Act No. 10

senate Bill No. sG. BY Leon r. Smith
A JOINT RESOLUTION
Proposing an amendment to the Con-
~stitution of the State Of Louisiana.
rroyidjnr for the funding Of certain
debts OF the CITY of Shreveport. and
judgments against the said city. the
Issuance of serial n by said city.
providing the purpose for and the
sued. ana the duties of the City
Council Of the City of Shreveport,
with reference thereto; and the levy
ing by the City Council Of Shreve-
bonds as issued herein. by said city:
and providing for the submission OF
aaid amendment to the electors OF
the state fer their approval or re-
3ecticn.
BE It enacted by the General Assem-
Mfy Of the State of Louisiana. two
Nhirds OF the members elected to each
branch thereof coneurring. that. sab
S1ct to the ratification and approval Of
che electors Of this State. the C2nsff-
tuition Of the State be amended BY In
seerporating therein the following Pro-
visions. to-wit:
Section 1. The City OF Shreveport.
~ a four-ffths vote Of all the MEM
serss Of the City Council thereof, shall
aaye powsS s snS ~ nsrsSy su. - mseS
fAereof a. may be. necessary, to be
styled City 81 Shreveport Serial Gold
Bonds, and to bear such rate Of inter
est 90 the City Council may Az from
time TO time, as each instalament Of
1Ae said bends Is offered fer sale. az
hereafter provided; said rate Of inter-
est ct no time TO exeeed . per cent
Per annun1. payable sesni-annually.
section !; TAs psssssas q ss.a
sSk Indebtedness Issued by the City Of
Shreveport prior to May 1. 1915. a
TO the payment of ell judgments rem
Asrsd against said city prior to May
!. 1915.
Section 8. All bonds issued under
this amendment shall be I'm sue form.
terms and d~enominatfonn. and payable
ne such times m places. within q PEE
Rod Of not exceeding forty years from
he date thereof. e the City Council *
bonds shall be issued in serial form
and shall be payable In annual In
~stallments, commencing mot more than
enc year from their respective dates,
year shall be 80 liked that when the
annual Interest is added thereto, the
several annual total amounts OF prtn-
cipal and interest to be paid shall be
rs nearly equal as practicable.
Said bonds shall be signed by the
Mayor and the Secretary-Treasurer Of
the City Of Shreveport, and counter
signed by the Commissioners of Ac-
counts and Finances. and the coupons
shall have the fac-simile signatures
OF the Mayor and Secretary-Treasurer.
In case any such officer whose sigma
fure or counter-signature. who ap-
pears on such bond or coupon, shall
cease to be such officer before deliv-
chaser. such signature or counter-sig-
nature shall nevertheless be valid for
all purposes.
Section A.. The principal and inter-
est of all bonds authorized by this
amendment shall be payable In gold
coin of the United States of America
or its equivalent, of the standard
weight and oneness at the time OF the
issuance thereof, and shall be exempt
from all forms of taxation.
Section s.. The full faith and credit
Of the City of Shreveport are pledged
fer the payment of principal and in
terest Of all bonds. issued under this
amendment. The principal and inter-
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
tcrest 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 to be affected
by nor to affect the limitations else
where contained in the Constitution
as to the ISSUANCE of bonds, and the
leyying OF taxes by municipalities.
Section 6, The provisions hereof
are self-operative, and the City Coun-
Gil OF Shreveport may by ordinance
carry them into effect.
Be it further enacted, etc. That the
amendment proposed by this Act
shall be submitted to the electors of
the State for their approval or rejec-
zion at the Congressional election to
be held on the first Tuesday after the
FIRST Monday in the month of Novem-
Der. 1916: aud there shal be printed
On the Official ballot to be used In said
election the words. For the proposed
amendment to the Constitution Of ths
state of Louisiana providing fer the