New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1916-09-09

Z tificates shall be secured as herein ar
: as otherwise provided for by said act
q subsequent legislative authority not
conflict herewith provided, howeve
It that paving certificates, for which IL
: faith and credit of the City of New O,
II leans shall be pledged. whether issue
S under the aforesaid Act No. % of 49,
t or under subsequent legislation. shall nc
at any time be outstanding in an amour
in excess of Five Million Dollar
l tS5,OOO,OOO) in face value.
r Section 13. The total issue of bond
by the City of New Orleans for all puv
poses shall never exceed ten per centur
+ of the assessed valuation of the prop
+ erty in said city; provided, however, tina
neither the bonds issued for water, sew
erage and drainage purposes namely
: the $12OOOOO0 Public improvement
Bonds issued under said Act No 6 o
1899 and the $8,0OO,OOO New Public I'm
provement Bonds issued under Act No
19 of the General Assembly of the Stat,
OF Louisiana for the year 1906, and act.
amendatory thereof and supplement, a
thereto, as well as such bonds, hereby o.
hereafter authorized, into which tn,
aforesaid bonds or any part thereof may
be refunded). nor the $2OO0OOO Public
Belt Railroad Bonds authorized by Ac'
No. 179 of the General Assembly of the
State of Louisiana for the year 1908, MOI
any bonds hereafter authorized for PUB
lie Belt Railroad purposes, nor any
bonds which may hereafter be issued for
water supply or for the acquisition OF
construction Of any revenue producing
public utility, nor any paving certificates
primarily chargeable against special as
sessments for street paving, shall be in
| cluded in computing the Indebtedness of
| said City of New Orleans under this lin
itation; and provided further, that emery
in Section of this amendment 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 an other bonds that may
be issued hereafter under this amend
ment there shall be included in the COM
putation said Nine Million Dollars of
bonds, Notwithstanding the fact that ell
of said Nine Million Dollars of bonds
shall not have been actually issued, and
such amount of emergency bonds as
may De then outsta nding.
Section IA. The Board of Liquida-
ton, City Debt, as now organized and
created and with the powers, duties and
functions prescribed by existing lxws
and by this amendment, shall be con-
tinued while any bonds authorized by
this amendment are outstanding and
unpaid; and all taxes which may be
levied for the payment of said bonds
shall, day by day as collected, b paid
over to said Board, and shall by it 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 ex-
ercise all the rights and enforce the per
Torrance Of all the Obligations, the
same ~ it is authorized to do under laws
existing at the time of the adoption Of
this amendment with respect to any of
the presently outstanding bonds of said |
City of New Orleans. All funds, prop
erty and things of value held by the
Board of 'Liquidation, City Debt, for
bonded debt purposes other than taxes |
now or hereafter levied, and particularly
al funds, property and things of value
now or hereafter held by said Board un-
der Act No. 1873 Of the General Assembly
Of the State of Louisiana for the year
1880 and all amendments thereto, shall
when released from contract obligations
or dedications imposed by laws existing
It the time of the adoption Of this
be used and employed in
The discretion of said Board in payment
Ind retirement of any bonds of
he City Of New Orleans then outstand-
ng. 1,
Seo1ion IS. For general municipali ,
purposes, exclusive Of the support and
maintenance Of the public schools and
he payment of the bonded debt of the
,ity of New Orleans, said city may in!
ach year levy upon all taxable property! :
vithin said city a tax not exceeding six {
nd one-half mills on the dollar Of the t
ssessedvaluation thereof; provided, I
owever, that when the one per cent debt o
X authorized by said Act No. 10 of =
800 and the two mill water and sewer +
TX authorized by said Act No. of 1899 $
hall both have ceased to be levied, and b
thereafter the taxes levied by the City G.
New Orleans in any one year for
onded debt purposes be less than ten I;
ills, said city may in such events levy C
Y its general purposes such additional cl
X which, when added to the tax of six o,
ID one-half mills hereby authorized m
ID the taxes levied for the payment h.
the principal and interest of its bonds 81
they severally mature, shall not ex- SC
ed in the aggregate sixteen and one I'll
If mills. n,
Section Is The reservation of twenty "a
r cent of the revenues of the City of &c
w Orleans shall not hereafter be made d
directed by Section 40 of the Act No. of
of the General Assembly of the
ate of Louisiana for the year 1912, ex- ia
ot insofar as the fund 50 directed to le;
reserved shall have been appropriated P,
dedicated before this amendment cit
res effect to the payment of any OBJ tic
alton of the City of New Orleans, and tn