The Caldwell watchman. (Columbia, La.) 1885-1946, 1916-10-27

pay and discharge same are actually 1T
the treasury Of said city at the time OF
making the contract or mourning the
debt or obligation and are specifically
set aside and dedicated to said purpose
unless herein otherwise provided. The
foregoing limitation and restriction
shall not apply or he held to apply to
contracts or obligation incurred with
respect 10 the furnishing to said city OF
light. heat or power, water, telephone
service or garbage removal or destruc-
ton.
The said city may In any calendar
year in anticipation of the collection OF
the taxes OF such alenda year, and for
the purposes for which such taxes arc
levied, borrow such sums as shall not
he in excess of the amount OF its un-
collected taxes OF such year. and may
issue it's notes or other evidences or
Indebtedness therefor, and such sum.
ness shall be payable only out of the
taxes Of the calendar year In which said
loan or loans are first made, and for
which Indebtedness said revenues shall
be pledged, and said Indebtedness shall
not be payable out OF Il other funds
or money whatsoever NO money shall
be borrowed by the said city except 1or
current municipal purposes, and In no
event shall any money be borrowed by
said city TO make or 70 pay for works
Of public Improvement. Said city may
issue for street paving purposes certitl-
Gates on its fatlh and credit pursuant to
legislative authority. to an amount not
IN excess of any special assessments
which have been or shall be made for
such purposes. Such paving certificates
hereafter issued shall be chargeable
primarily against the special assess
ments IN respect OF which they are is
sued. and s~econdarily against the reve-
nues of the CITY Of New Orleans derived
from taxation for general municipal
purposes and from sources other than
the taxes for the payment OF the princl-
pal and interest OF the bonds now out
standing or hereafter to be issued uU-
der this paving certificates only IN the
event and TO the extent that such
amendment, which shall be ap-
piled in payment OF such special assess
ments shall be insufficient for such pay
ment, and reimbursement shall be made
to the general funds of the city Of New
Orleans when the assessments are col
lected to the extent Of the amOunt that
the said general funds shall have con-
tributed to the payment aforesaid. SO
much Of Act No. 20 of the General AS
sembly Of the State OF Louisiana for the
year 1914 as may be Inconsistent here
with rs hereby repealed, and hereafter
no paving certificates shall be issued
upon the pledge Of the reserve fund OF
the City Of New Orleans, but such GER
tifcates shall be secured as herein and
otherwise provided for by said act or
subsequent legislative authority not m
conlllct herewith; provided. however.
that paving certificates. for which the
faith and credit Of the City OF New Or
leans shall be pledged, whether issued
under the aforesaid Act No. % OF 1914,
or under subsequent legislation. sha
not at any one time be outstanding in
an amount In excess Of Five Million
Dollars $4,000. O0OJ in face value.
Section -. The total issue OF bonds
by the City Of New Orleans for all pur-
poses shall never exceed ten per centum
Of the assessed valuation of the proper
ty In said city provided, however. that
neither the bonds ISSUED for water.
sewerage and drainage purposes tname-
ly, the 81, 600, 900 Public Improvement
Bonds issued under said Act No. s Of
1899 and the $4,000, 900 New Pub
lie Improvement Bonds issued un-
der Act No. 1e Of the General
Assembly Of the State Of Louisiana
for the year 1906. and acts
thereto, as well as such bonds. hereby
or hereafter authorized. into which the
aforesaid bonus or any par therof may
be refunded), nor the So. 600, 900 Public
Belt Railroad Bonds authorized by Act
No. 179 Of the General Assembly of the
state OF Louisiana for the year 1905.
nor any bonds hereafter authorized for
Public Belt Railroad purposes, nor any
bonds which may hereafter be issued
for water supply or for The acquisition
or construction of any nassn91 uc-
Ing public utility. nasar3e fslng H1kcR
cial assessments for street paving. shall
be included in computing the indebted
ness of said City Of New Orleans under
this limitation; and provided further.
that emergency bonds may be issued as
authorized in Section S OF this ameno
ment even though said limitation shall
have been reached provided that the
Nine Million Dollars Of bonds authorized
by Section l 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
any other bonds that may be issued
hereafter under this amendment there
shall be included in the computation
said Nine Million Dollars of bonds, not-
w~ithstanding the fact that all Of said
Nine Million Dollars Of bonds shall not
have been actually issued. and sucn
amount of emergency bonds as may be
then outstanding.
Section Il. The Board Of L%iquida-
ton, City Debt. as now organized and
created with the powers. duties and
functions prescribed by existing laws
and by this amendment, shall be con-
inued while any bonds authorized by
this amendment are outstanding and un-
paid. and all taxes which may he levied
for the payment Of said bonds shall, day
by day as collected, be paid over to said
Board, and shall by it be applied in pay
ment of the principal and interest OF
said bonds; and SAID board shall with
respect to all bonds authorized by this
a ~, apIpnnp ha ArfStla1 20 a.o~.t-n 80,
the rights and enforce the performance
OF all the obligations. the same as 1t Is
authorized to do under laws existing at
the tim of the adoption of this amend
ment with respect to any Of the present
ly outstanding bonds of said City OF
New Orleans. All funds, property and
things Of value held by the Board Of LII
quotation, City Debt. for bonded depr
purposes other than taxes now or here
after levied, and particularly all funds,
property and things OF value now or
hereafter held by said Board under Act
No. 1873 Of the General ssembly of the
State Of Louisiana for the year 1880
and all amendments thereto, shall when
released from contract obligations or
dedicatiuns imposed by laws existing at
the time Of the adoption Of this amend
ment be used and employed in the dis
creation OF said Board In payment and
retirement OF any bonds of the City or
New Orleans then outstanding.
Section Is. For general municipal
purposes, exclusive of the support and
maintenance Of the public schools ana
the payment Of the bonded debt Of the
City OF New Orleans. said city may in
each year levy upon all taxable property
within said city a tax not exceeding
six and one-half mills on the dollar of
the assessed valuation thereof; pro-
vfded. however, that when the one per
cent debt tax authorized by said Act No.
10 Of 1890 and the two mill water ana
sewer tax authorized by said Act No. 6
OF 1899 shall both have ceased to be lev
led, and If thereafter the taxes levied by
the City OF New Orleans In any one