The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1916-09-28
ACT NO. ITO.

Senate Bill No. SO by Leon H. ofnilh.
JOINT RESOLUTION
Proposing an amendment to the Constitu-
ton of the State of Louisiana, provid-
ing for the funding of certain debts OF
the City of Shreveport, and judgments
against the said city, the issuance of
serial bonds by said city, providing
the purpose for and the manner IN
which same may be issued, and the
duties of the City Council of the City
of Shreveport, with reference thereto;
and the levying by the City Council of
Shreveport of certain taxes to retire
the bonds as issued herein, by said
city. And providing for the submits
sion of said amendment to the electors
of the State for their approval or
rejection.
Be it enacted by the General Assembly
of the State of Louisiana. two-thirds of all
the members elected to each branch
thereof concurring, that subject to the
ratification and approval of the electors
of this State, the Constitution of the State
be amended by incorporating therein, the
following provisions, to-wit:
Section l. The City of Shreveport by a
four ifths vote of all the members of the
City Council thereof, shall have power
and is hereby authorized to issue $780, 900
of bonds, or so much thereof as may be
necessary to be styled City of Shreveport
Serial Gold Bonds, and to bear such rate
of interest as the City Council may fix
from time to time, as each installment of
the said bonds is offered for sale, as here
after provided; said rate of interest at no
time to exceed 5 per cent per annum
payable semi -annually.
Section 2. The proceeds of said bonds
shall be applied to the payment and retire
ment of all certificates of Indebtedness
issued by the City of Shreveport prior tc
May l. 1916, and to the payment of al
judgments rendered against said city prior
to May l, 1916.
Section 3. All bonds issued under this
amendment shall be in such form, terms
and denominations. and payable at such
times and places, within period of not
exceeding forty years from the date there
Of as the City Council of Shreveport shall
determine. Said bonds shall be issued iT
serial form and shall be payable in annua
: installments, commencing not more thar
one year from their respective dates, an(
the installment payable in each year shall
be SO fixed, that when the annual interes
is added thereto, the several annual tota
amounts of principal and interest to b.
paid shall be as nearly equal as practi
cable
Said bonds shall be signed by the Mayo
and the Secretary Treasurer of the Cit.
of Shreveport and countersigned by tn
Commissioner of Accounts and Finances
and the coupons shall have the facsimil
signatures of the Mayor and Secretary
Treasurer. In case any such officer who's
signature or counter signature, who ap
pears on such a bond or coupon, shal
cease to be such officer before delivery o
said bond or coupon to the purchaser
such signature or counter signature shaI
nevertheless be valid for all purposes.
Section 4. The principal and interest O
all bonds authorized by this amendmen
shall be payable in gold coin of the Unite
States of America or it's equivalent, of tn
standard weight and fineness at the tim
of the issuance thereof, and shall be ex
empt from all forms of taxation.
Section 5. The full faith and credit G
the City of Shreveport are pledged for tn
payment of principal and interest Of a
bonds issued under this amendment. TIL
principal and interest of all bonds au
thorized and to be issued under thi
amendment, shall be paid out of tax whic
shall be levied annually by the City Coun
tii VI 'ohieNepot'' opoii OH 's'Aapie piop
erty in said city, sufficient to provide fo
the payment of the principal and interes
of said bonds as they respectively becom
due. The tax so levied is to be in exces
of the general and special taxes provide
for elsewhere in this constitution and
not to be affected by nor to affect Il,
limitations elsewhere contained in tn
Constitution as to the issuance of bond
and the levying of taxes by municipalitie
Section 6. The provisions hereof al
self-operative and the City Council
Shreveport may by ordinance carry thel
into effect.
Be it further enacted, etc, That til
amendment proposed by this act shall /
submitted to the electors of the State fl
their approval or rejection at the Cor
gressional election to be held on the fir,