The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1916-09-30

Ht 8FI fiiH Aiit'h8ftthf anu ft'tia VIZ
standing Hu4 unpBsd, aT If for ans cause
tbrf. shall not 30 iauds appropriated tg
ug available fgr AYth purpose, The city ~
s*W Orleans shall levy a tax gppn All
taxable pfupefi5 n sti8 cJtF sufficient 70
.rfay plr f8r 8nE sHth deficiency and pro-
sGrH further tbat when The aforesaid one
g.g .,Hg debt tax iud two mltl water and
kFarf tax shall cease to be- levied, the
t4b ~ ArR Orleans shall levy a TAX upon
Nl ltABFl' property "a Stid Clll aulbrtNHl
g. pas ths principal Hnd interest OF SAID
hnmsts 40 theg respectively become due,
Section (, Il ia hereby Intended that all
existing declarations ard appropriations Ut
said one isgT cent debt tax authorized hy
said Act No ITO Il 1880 except with Eea
sllg,t te tbe sll3 one half of the surplus
a. the uut per reut deb, tax herein dcdi
.tted 60 public SsHussf. and Of said tive
uHH water tHd sewer tas, authorized by
said Arf No % ist1 shall be respected
aHI performed according 60 the pfipfttleA
b. said statutes established. that All of
t4af portion II the funds resulting from
the IrNy d stld taxes which shall be
released from said appropriations aud
trsileatIuhs bJ the pas WeHt satisfaction
uf rpfauduE % ans 81 tbs bonded debt
obligations nos charged thereon and
there against shall together eth the one
half uf the surplus 81 the uug per cent debt
tax heretul1r, dedicated 60 public school
purposes, be used and applied C. the pay
WrHt IS the principal and iUtefeat Of All
tuHtEs issurd under this amendment tlgt
HF residue thereof remaining after tha
smA WeHt ST ths principal and interest 10
agy one year Ut bonds authorized by this
amendment shall be- turned over ta the
cts uf Arw Orleans Is he used h5 II Tor
general municipal purposes, bat when.
and t9 the extent that, the obligations
HuA charged on said taxes SHALL be- paid
released from saGd obligations, and, ulti
nately, when entirely released aui dis
charged, shall cease 10 be levied. and,
thHt. thereafter any and all bonds issued
4HdrF this amendment shall Ice provided
For BY q tax upon ali taxable property In
be Ctiy ~ New orleans sufficient 81 pas
he principal nHd interest at said bonds as
hes respectively become due provided.
Iawe ever, that ia the event tho funds
grfvlHHbUyp HpSftaib dedicated FOR the
pa UrHt II the PRINCIPAL and interest 81
Vie bends ISSUED under this amendment
should prove Insufficient fhe t'tty of New
Orleans shall and II Is hereby required 60
l@FA ~ every such Instance a tax upon all
taxable property In the city II New
tHiyIun necessary tu Pas the principal
and interest ~ said bonds
@estfuH Inc principal and interest VI
al. bombs authorized hY this amendment
shall be payable ~ gold coin a. the
limited states % America. OF It's a1ugVa-
t,Ht vt the standard II weight and dHe
goss o. the tltue II the issuance II each
lHgtallmeat Of said bonds
ssti hends shall be- exempt from ali
ttEstbgu for state parish municipal or
other local purposes
fHEiHkt banks. tutors OF minors guFa
iufa 81 iultrHirt# trustees and other
IHgltariea ma inv 20 the funds lH their
hands lH said isuHvs
said bombs ata, be- usel for deposit with
AHk officer bt#rd muul, pahty or other
political subdivision II the state II lou
.sl5Ha IH au5 rase where hy present of
f8taFr lHRs deposit on security IN required
said EaIas fua} be- registered and re,
i,1fed trtta registry under such rules as
he Hoard ~ liquidation, ,Ity Debt, may
prescribe
Section b. An bonds issued under this
amendment shall bear such rate af in
tcfest or, from time "a time different rates
~ interest, and shalt except as herein
otherwise specials provided. he ia such
form, terms and denominations, ana pay
stie AZ Aueh times and places, within a
p.rlei of not exceeding nifty Years from
Use date thereof "a the Heard ~ idguda
tom tlty Debt. shall determine Said
5nuis shall Dc issued In serial form ara
hail he pas able ia annual lRRtalmgntR
from their respective dates, and the Ia
st3liUEBiR payable III each year shall bs
so uAst that. Hhea the annual Interest Is
added thereto, the several annual total
amounts ~ principal and interest 30 be
paid shall he as Heariy equal as pFactl-
cattle provided, sald insiallmenis may be
hsed al h4e thousand dollars or The near,
est multiple thereof
jSaia buuds shall hs signed by the Mayor
4ui the Commissioner n Public finance
~ the city at New Orleans, or officers
exercising similar functions, and counter
signed ~ thp President &c Vice President
aud tho Secretary or Assistant Secretary
II the Hoard ~ Liquidation, Ctty Debt
apf the coupons attached 60 said bonds
shall hessF tbe facsimile signatures II said
Commissioners ~ Pubic Finance and said
Secretary N Assistant Secretary la ease
ans such officer whose signature or coun-
Ger signature appears Upon such bond
8f pouttnU shall cease To bs such officer
before delivery 81 said bond OF coupon 90
ihe purchaser, such signature o. counter
signature shall nevertheless bee valid for
all purposes The cost and expense ~
preparing ard selling said bonds shall be
paid for bs the Hard 81 Liquidation.
Ills bebt
SECTION II Al bonas issued under this
amendment shalt be sold by the Board Of
Liquidation. city Debt, 70 the highest
bidder coz bidders hy sealed proposals after
due advertisement of not Iehs than Ave
Insertions in the official Journal Of the
itv ut New Orleans tthe first insertion 60
be AZ least titieeT lays prteF 10 tie date
Hf the sBlol. and such other adyeEtiss-
mtui, ~ said cts or elsewhere. aa rald
Hoard gt Liquidation may ia lts discretion
direct provided said Hoard OF Liquidation
Section IL Except as otherwise pro
slded in this amendment. The city 81 New
Orleans shall not borrow fnnHey. issue
bonds notes or other evidences of tn.
| tebtedness or pledge tts credit or an
ticipate The collection ai any a. lte taxes.
No mohey shall be drawn tFen the
treasury ~ sald city without specific
| appropriation therefor previously made,
TOR shall aald cts make any contract or
incur any debt or obligation for ans par.
pose Whatsoever unless sufficient funds,
not otherwise appropriated 10 pay and
| discharge saHg are actually In the treas,
ury ~ said city AZ the time Of making the
| contract ct iEeuffing the debt or olsliga
| tlah and are specifically Bet aside and
dedicated to said purpose unless herein
otherwise provided TIE foregoing limi-
| tgtinH VHI restriction shall net APPLY or
| be held tp appy 10 contracts or obligation
| incurred Nth respect e. the furnishing a.
said city II light hsat ur power. water,
| itirphnhe service nr garbage removal or
| destruction
The sata city may ln ans calendar year
| IN anticipation 1T che collection 81 the
| taxes q such calendar year. and fer the
purposes for which such taxes are levied,
| borrow such sums as shall not be In
| excess az the amount u ltR aueulycted
| taxes OF such Esaf and fuaS issue its
notes nf other evidences Gf indebtedness
| Therefor and sIFH sum, notes gr other
| evidences u Indebtedness shall be pay
| able HHlA cat ~ the taxes Gf TIE calendar
| year ia which said loan or leans are FIRST
made and fpr which indebtedness said
| revenues shall hg pledged and Eaid In,
| 8ehfeduess shall rot be payable out ot
| aH} other funds or moneys whatsoever