The Caldwell watchman. (Columbia, La.) 1885-1946, 1916-09-15
Act No. ITO

Senate Bill No. %. BY Leon r. Smith
A JOINT RESOLUTION
Proposing an amendment TO the Con-
stitution of the State of Louisiana,
providing 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 is
sued. and the duties Of the City
Council of the City OF Shreveport.
with reference thereto; and the levy
ing by the City Council of ShreVe-
port Of certain taxes to retire the
bonds as issued herein, by said city;
and providing for the submission Of
said amendment to the electors OF
the State for their approval or re-
lection.
Be it enacted by the General Assem-
bly, Of the State Of Louisiana, two
thirds Of the members elected to each
branch thereof COncurring, that, sub
iect to the ratification and approval of
the electors Of this State, the Consti-
tuition of the State be amended by in
cooperating therein the following pro-
visions to-Wit:
Section /. The City OF Shreveport,
by a tour-fifths vote of all the mem
hers of the City Council thereof, shall
have power and is hereby authorized
to issue $500 900 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 inter-
est as the City Council may fix from
time to time, as each installment Of
the said bonds is offered for sale, as
hereafter provided: said rate of inter
est at no time to exceed per cent
per annum, payable semi annually
"a dc Of a
bonds shall be applied to the pay
ment and retirement of all certificates
of Indebtedness issued by the City Of
Shreveport prior to May /, 1916, and
to the payment Of all judgments rem
dered against said city prior to May
/, 1915.
Section g. All bonds issued under
this amendment shall be in such form,
terms and denominations, and payable
at such times and places, within a pc
Rod Of not exceeding forty years from
the date thereof as the City Council Of
Shreveport shall determine. Said
bonds shah be issued in serial form
and shall he payable in annual in
Staifments, commencing not more than
one year from their respective dates,
and the instafIment payable in each
year shall be so fixed that when the
annual interest is added thereto, the
HtleIal annual l"E' a'nouhlS OF prln-
CIPa' 'nu i"l.I',>l !" DE hal4 small be
az nearly equal as PFacJlCapie.
Said bonds shall be signed hv the
Mayor and the Socrctary- Trnaauror Of
the City Of Shreveport. and counter
si~n"d by the Commissioners Of Ac-
counts and Finances, and the coupons
shall have the fac-simile signatures
Of the Mayor and SnCFetarr-T Treasurer,
In case any such officer whose sigma
turc or Counter-signature, who an
pears on such bond or coupon. shall
cease to he such officer before dptiv-
cry OF said bond or coupon to the pur-
chaser, such signature or countor-sig-
nature shall nevertheless be valid for
all purposes.
Section f. The principal and inter
est OF all bonds authorized by this
amendment shall be payable in gold
ccin of the United States Of America
OF its equivalent, of the standard
weight and f1neNcss at the time of the
issuance thereof, and shall be EXEMPT
from all forms Of taxation.
coctior : Tho fun fo%,, o.s .,,.
NJ tba CtjtW of chrevenn ,'n ,r t,'u , otcui3
tor the navrnent Of nrincinai and ~ nu
terest OF ali bonds issued Under III,