New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1916-10-14
SUPPLEMENT TO THE NEW IBERIA ENTERPRISE
SATURDAY. OCT "a. 1916.
AMENDMENTS
TO THE
Constitution of Louisiana
Adopted at the Session of the Legislature of 1916.
To- be voted q n a the ON Klecfinn

ACT NO 4.

A JOINT RESOLUTION
Proposing an amendment to the Consti
tuition of the State of Louisiana pro
viding for: The funding of certain
debts of the City of New Orleans anu
OF the Board of Directors OF the Pub
lie Schools, Parish of Orleans, re
spectively; the issuance of seria.
bonds by said city, the purpose for ant
the manner in which same may be is
sued and the duties and functions
the Board of Liquidation, City Deb,
with reference thereto; and the levy
ing by the CITY of New Orleans ana
the Board of School Directors, Parish
of Orleans, respectively, of certain
taxes for general municipal and schoo.
purposes and providing for the sub
mission 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 o.
all the members elected to each house
concurring, that subject to the ratification
and approval Of the electors of the State,
the Constitution of the State be amend
ed by incorporating therein the following
provisions, to-wit:
Section /. The City of New Orleans,
by a vote of three fourths of all the
members of the Board Of Liquidation
City Debt, approved by resolution of the
Commission Council, or its successor as
the governing body of said municipality,
adopted by a vote of two-thirds OF all
sc n
ing body, shall have power and is hereby
authorized to issue Nine Million Dollars
($9OOOOOO) of bonds, to be styled CITY
of New Orleans Serial Gold Bonds and
to bear such rate of interest as the
Board of Liquidation, City Debt may
fix from time to time as each installment
of said bonds is offered tor sale as mere
matter provided.
Section z Three Million Dollars
($3,OOO,OOO) in par value, of the bonds
authorized by Section of this amendment
shall forthwith be sold.
The proceeds of said three million dol
lars of bonds shall be applied exclusive
" to the following purposes and In the
following order:
(a) The payment of the outstanding
and unpaid school Teachers Salary
Bonds of the City of New Orleans" is
sued under Act No. 2 of the General As
sembly of the State of Louisiana Tor the
wear 1906, which bonds shall be called
for payment and paid as soon as prac-
ticable;
ID The payment of the principal OF
the floating indebtedness OF the Board
of Directors of the Public Schools, Far
ish of Orleans, evidenced by note OF
notes outstanding at the time OF the
adoption Of this amendment to an amount
not exceeding Six Hundred and FIFTY
Thousand Dollars ($650,OOO); provided
that. in the event that said indebtedness
or .ny part thereof shall have been PAID
bv said Board out of its current revenues
previous to the adoption OF this amend
ment. the amount thus paid mot to ex-
ceed s6sO,OOO, however), shall be pad
over in cash to said Board to be used
by il for school purposes, ~ prov'oeo
by law;
(c) The payment Of the sum OF Five
Hundred Thousand Dollars ($ooo'ooo)'I
With interest thereon, borrowed by the
citv of New Orleans for storm emery
.ncv purposes in the year 1915;
(d) The payment of the overdIaft OF
other indebtedness due by the City OF
New Orleans to it, fiscal agents or other
hanks representing loans or advances
made by them to said city, other than
those referred to in paragraph (c) OF
th;. section, to an amount not exceed
=. = nr;ncipal and interest the sum OF
0ne Million Three Hundred and FIFTY
thousand Dollars ($l,3s0,000; and
(el The balance Of said proceeds
hail be used and employed by the
Board Of Liquidation, City Debt, tor the
,syment of Public improvement Seft'
Gates Of the City of New Orleans, ss
,et forth in Section 2 of this amendment
Section 3. The remainder of the bonds
authorized by Section of this amend
r.r+. ar 40 much thereof ~ may be
,.ce.s.rv. shall be sold, from time to
;me. in such amounts - the Board OF
City Debt, may determine,
nj The proceeds Of the sale thereof shall
:. .nnl;ed " said Board to the payment
{ Public Improvement Certificates au-
horised by Act No. Sc Of the General
I..embly Of the State Of LOUISIANA io'
he wear 1908, and acts amendatory
hereof. and presently outstanding or Is
ued At any time in payment OF any
ontr.ct made before this amendment
~. effect, At their respective matur'
q. or when said maturities can be an
cip.ted upon terms satisfactory to said
oard.
S.id Act No. S. of 1908 and all amend
,ents thereof, ~ well ~ all statutes
non the same subject, and 80 much Q.
"a. No. 12S and No. 270 Of the General
esembly Of the State Of Louisiana io'
,e wear 1910, and other statutes on the
,me subject matter, - may AFFECT sp
h or pertain to the City of New Or
ans. be and the same are hereby re-
.aled: ueverthsless Public Improve
ent Certificates may be issued in the
amer provided by said Act No 50 OF
,0s. and amendments thereof, in pay
ent Of any contract made before this
neudment takes effect. IL
Section 4. The City Of New Orleans
Az also issue and negotiate it, bonds
hen authorised BY vote of . majority
Il L. !