The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1916-10-21

issued under the aforesaid Act No. 20 OF
1914, or under subsequent legislation, shall
not at any one time be outstanding in an
amount in excess Of Five Million Dollars
($5, 900, 000) in face value
Section 13. The total issue of bonds by
the City of New Orleans for all purposes
shall never exceed ten per centum of the
assessed valuation of the property in said
city; provided, however, that neither the
bonds issued for water. sewerage and
d drainage az purposes namely, the $1,000;
under said Act No. of 1899 and the
IS, 600, 900 New Public Improvement Bonds
issued under Act No. ~ of the General
Assembly Of the State of Louisiana for
the year 1906, and acts amendatory there
of and supplemental thereto, as well as
such bonds, hereby or hereafter author
any part thereof may be refunded), nor
the So, 000 900 Public Belt Railroad Bonds
authorized by Act No. 179 of the General
Assembly of the State of Louisiana for the
year 1908. nor any bonds hereafter au-
thorized for Public Belt Railroad pur-
poses. nor any bonds which may hereafter
be issued for water supply or for the
producing public utility, nor any paving
certificates primarily chargeable against
special assessments for street paving.
edness of said City of New Orleans under
this limitation; and provided further, that
emergency bonds may be issued as au-
even though said limitation shall have
been reached; provided that the Nine Mil
lion Dollars of bonds authorized by Sec
ton 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, Notwithstanding the fact
that all of said Nine Million Dollars of
bonds shall not have been actually issued,
and such amount of emergency bonds as
may be then outstanding.
Section IA. The Board of Liquidation,
City Debt, as now organized and created
and with the powers. duties and functions
prescribed by existing laws and by this
amendment, shall be continued while any
bonds authorized by this amendment are
which may be levied for the payment OF
said bonds shall. day by day as collected,
be paid ever 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 exercise
all the rights and enforce the performance
of all the obligations, the same as it is
authorized to do under laws existing at
the time of the adoption of this amend
ment with respect to any of the presently
outstanding bonds of said City of New
Orleans. All funds, property and things
of value held by the Board of Liquidation,
CITY Debt. for bonded debt purposes other
lIldu ltAtS now OF hereafter levied, ana
particularly all funds. property and things
of value now or hereafter held by said
Board under Act No. 1873 OF the General
Assembly Of the State of Louisiana for
the year 1880 and all amendments there
to-, shall when released from contract
obligations or dedications imposed by laws
existing at the time of the adoption of this
amendment be used and employed in the
discretion of said Board in payment and
retirement of any bonds of the City of
New Orleans then outstanding.
Section 10. For general municipal pur-
poses, exclusive of the support and MAIN
tenance of the public schools and the pay
ment of the bonded debt of the City of
New Orleans, said city may in each year
city tax not exceeding six and one-half
mills on the dollar of the assessed valua-
ton thereof; provided, however, that when
the one per cent debt tax authorized by
said Act No. ITO of 1890 and the two-miil
water and sewer tax authorized by said
Act No. of 1899 shall both have ceased
to be levied. and if thereafter the taxes
levied by the, City of New Orleans in any
one year for bonded debt purposes be less
than ten mills. said city may in such
events levy for its general purposes such
tax of six and one-half mills hereby
authorized and the taxes levied for the
payment of the principal and interest of
Its bonds as they severally mature, shall
not exceed IN the aggregate sixteen and
one-half mills.
Section 16. Inc reservation of twenty
per cent Of the revenues of the City of
New Orleans shall not hereafter be made
as directed by Section 40 of Act No. 1859 of
the General Assembly of the State OF
Louisiana for the year 1912, except inso-
far as the fund so directed to be reserved
shall have been appropriated or dedicated
before this amendment takes effect to the
payment of any obligation of the City of
New Orleans, and said reserve fund OF
each year, when released from the obIi-
cations charged against it by law and
because OF contracts, existing at the time
OF the adoption of this amendment, shall
be used for general municipal purposes.
Section IL. For the support. mainte-
nance, construction and repair of the
public schools in the City of New Orleans,
Schools. Parish of Orleans, or its legal
successor, shall levy annually such tax,
not exceeding three and one-half mills, as
said Board shall deem necessary, which
levy shall be certified by said Board to
the Commission Council or other future
governing body OF the City of New Or
leans, which shah cause the tax to be
entered upon the tax rolls of said city
according to law against all taxable
property in said city as assessed and
valued for city taxation purposes: and
paid over to said Boarl of Directors of the
Public Schools. Parish of Orleans. day by
day as collected.
Said tax shall be in lieu of all taxes,
appropriations and funds now authorized
or directed to be levied or contributed by
the City Of New Orleans for public school
purposes, either by said Act No. no of
1880 or other provisions of the Constitu-
ton of this State. All constitutional pro-
visions to the contrary, as well as Act
No. 262 of the General Assembly of the
State of Louisiana for the year 1914,
ratified as an amendment to the Consti-
tuition OF this State, are hereby abrogated
and repealed; and the City of New Orleans
shall have no power or authority to use
or employ any of its taxes or funds for
the establishment, support or maintenance
OF the public schools, directly or Indirect
ly. except as herein authorized; provided,
however. that the City of New Orleans
shall administer, use and employ all the
funds property or things of value now or
hereafter held by ii under any special
legacy. bequest or donation made or to
be made directly to it for school purposes,
and shall carry out and execute the con-
ditions of all such special legacies, be-
quests or donations that have been here
tofore made to and accepted by said City
of New Orleans and all such as may here
after be made to and accepted by said city.
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