St. Landry clarion. (Opelousas, La.) 1890-1921, 1916-09-16
Act No. 10

SENATE Bill No, SO. BY Leon Il. Smith
A JOINT RESOLUTION
Rronoaing an amendment to the Con-
sHfUfion OF the State of Louisiana.
SroyadinR for the funding OF certain
aeb{s OF the City of Shreveport, ana
judgments against the said city. the
issuance Of serial bonds by said city.
proyidins the purpose for and the
manner in which same may be Is
saed- and the duties Of the City
CounciI of the City of Shreveport.
with reference thereto; and the levy
inR by the City Council of shreve-
pnTt Of certain taxes to retire the
bonds as issued herein, by said city:
And providing for the submission Of
snid amendment to the electors OF
Me state for their approval or re-
lection.
Re II enacted by h General Assem-
Aiy Of the State of Louisiana. two
4Nirds OF the members elected to eaen
branch thereof concurrfng, that, SUP.
fsct to the ratification and approval OF
khe ELECTORS of this State, the C2nstf-
tuition of the State be amended by In
acrporating therein the following pro-
visions. to-wit:
Section i. The city Of Shreveport,
Nv . f%our-hfths vote of all h mem
bers OF the City Council thereof, shall
have power and Is hereby authorized
10 issue $500, 600 Of bonds, or SO much
thereof a. may be neossss sy,. 70 ao Gs
~ Il A0U I'll VA A
$onds. and to bear such rate of inter-
est az the City Council may fix from
time to time, as each instalImont or
fhe said bonds Is offered for sails. as
hereafter provided: said. rate OF inter-
est at no time to exceed . per cent
Der annum, payable semi-annually.
Section .. The proceeds Of said
bonAs shall be applied to the pey-
ment ana retirement of all eerti6cates
III Indebtedness Issued by the City Of
9%hraveport prior to May l. l9ie. and
10 the payment of all judgments rem
Asred against said city prior to May
!, 1915.
Section 3. All bonds issued under
this amendment shall be In such form.
terms and DENOMINATIONS end payable
at such times and places, within a Pc
ricd OF not exceeding forty years from
the date thereof, as the City Council Of
Shreveport shall determine. Said
bonds shall be issued In serial form
and shall be payable in annual In
staIlments, commencing not more than
one year from their respective dates,
md h installment payable In each
year shall be SO 1xed that when the
nnual interest Is added thereto, the
several annual total amounts of prin-
1ipal and interest to be paid shall be
rs nearly equal Is PRACTICABLE
Said bonds shall be signed by the
Mayor and the Seeretary-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
ture or counter signature, who ap-
pears on such bond or coupon, shall
cease to be such officer before deliv-
cry OF said bond or coupon to the pur-
chaser, such signature or counter-stg-
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
weight and hneness at the time of the
issuance thereof. and shall be exempt
from all forms of taxation.
Section 5. The full faith and credit
AZ the City of Shreveport are pledged
for the payment of principal and in
snnendment. The principal and inter-
9at OF all bonds authorized and to be
tsS1cd under this amendment shall be
pad 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
lhes payment of the principal and in
seThst of said bonds as they respective
" become u The tax so levied is to
pc In excess of the general and special
$3.50 rRtpfluSd foT EIseSAGIS III tuls
constitution. and is not to be affected
ny Tor to affect the limitations else
Where contained in the Constitution
IS TO the issuance Of bonds. and the
aeyying of axes by municipalities.
Section 6. The provisions hereof
4nes self-operative, and the City Coun-
cA OF Shreveport may by ordinance
carry them into effect.
~ u further enacted. ETC., That ths
amendment proposed by this Act
snail be submitted to the electors Of
Us State for their approval or rejec-
tien ct the Congressional election tc
g held on the first Tuesday after the
hrst Monday in the month of Novem.
yer 1916; and there shall be printed
20 the official ballot to be used in SAFE
ssectlon the words. Tor the propose
s.nendment to the Constitution of tn,
STATE OF Louisiana providing for thu