The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1916-09-16
CONSTITUTIONAL AMENDMENTS.
ACT NO. 4.

iroposing an amendment to the Consu-
yiding for: The funding Of certain
debts OF the City OF New Orleans and
OF the Board Of Directors Of the Public
schools, Parish OF Orleans, respective
ly; the issuance OF serial bonds by said
city. the purpose for and the manner
in which same may be issued and the
duties and functions of the Board of
Liquidation, City Debt, with reference
thereto; and the levying by the City
OF New Orleans and the Board Of
school Directors, Parish of Orleans,
respectively, OF certain taxes for gen.
erai municipal and school purposes
SAID amendmsnt o 70 tbe s scs os tb 0
state for their approval or rejection.
BE II enacted by the General Assembly
Of the state of Louisiana, two thirds Of
all the members elected to each House
yoncurring, that subject to the ratifica-
Aon and approval OF the electors of the
state, the Constitution of the State be
amended by Incorporating therein the fol-
lowing provisions. to wit:
Section /. The City of New Orleans, by
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
>ody OF said municipality, adopted by a
cote OF two thirds OF all members of said
council or governing body, shall have
power and is hereby authorized to issue
Nine Million Dollars (S9.000.000) of bonds,
20 be styled city of New Orleans Serial
Gold Bonds, and to bear such rate OF
interest as the Board OF Liquidation, City
instnilment of said bonds is offered for
sale as hereinafter provided
Section 2. Three Million Dollars (s3,-
voOOOO), IN par value, OF the bonds au-
thorized by section l OF this amendment
shall forthwith be sold.
The proceeds-of said three million
dollars OF bonds shall be applied exclu-
sIvely to the following purposes and in
The following order:
ta). The payment of the outstanding and
unpaid school Teachers Salary Bonds of
the City OF New Orleans issued under
Act No. OF the General Assembly of the
state OF louisiana for the year 1906. which
bonds shall be called for payment and
paid as soon as practicable;
OBJ The payment of the principal Of the
floating indebtedness OF the Board of Di-
rectors OF the Public Schools Parish of
Orleans, evidenced by note or notes out
standing at the time of the adoption of
nus amendment TO an amount not ex,
ceedIng Six Hundred and Fifty Thousand
Dollars $3.50, 000); provided that, in the
event that said Indebtedness or any part
thereof shall have been paid by said
Board out of its current revenues pre-
vlous to the adoption of this amendment,
The amount thus paid mot to exceed $780,
900. however,. shall be paid over in cash
purposes, as provided by law;
(c) The payment of the sum of Five
interest thereon, borrowed by the City of
New Orleans for storm emergency pur-
poses in the year 1915;
(d) The payment of the overdraft or
other Indebtedness due by the City of New
Orleans TO its fiscal agents or other banks |
representing loans or advances made by |
ierred to in paragraph (c) of this section, |
10 an amount not exceeding in principal /
and interest the sum of One Million Three |
hundred and Fifty Thousand Dollars 4
sl,350.00O); and
te) The balance of saio proceeds shall |
be used ana employed by the Board of /
LIquiqation. City Debt, for the payment |
of Public Improvement Certificates of the
city OF New Orleans as set forth in
Section 3 OF this amendment.
section g. The remainder Of the bonds /
ment, of-s SO much thereof as may be
necessary, sha& be sold, from time to
time. in such amounts as the Board of
anu the proceeds of the sale thereof shall
be applied by said Board to the payment
of Public Improvement Certificates au.
Assembly OF the State of Louisiana for
the year 1908, and acts amendatory there
of, and presently outstanding or issued
maze before this amendment takes effect,
at their respective maturities or when
said maturities can be anticipated upon
said e Act No. s. Of Of i isNS and ali amend
ments thereto as well as all statutes upon
the same subject, and so much Of Acts
sembly of the State of Louisiana for the
year 1910 and other statutes on the same
subject matter. as may affect, apply or
and the same are hereby repealed: never
iheless Public Improvement Certificates
may be issued in the manner provided by
said Act No. So of 1908. and amendments
thereof, in payment of any contract made
before this amendment takes effect.
Section 4. The City of New Orleans
when authorized by vote Of a majority
in number and amount of the property
taxpayers. who shall have been assessed
for property in said city as shown by the
last assessment made prior to the submits
sion of the proposition to the said property
taxpayers and who are otherwise qualified
to vote under the Constitution and laws
of this State, voting at an election called
by ordinance adopted by a vote of two
thirds of all The members OF the Commits
sion Council, or its successor as the gov
erning body of said City of New Orleans,
and which ordinance before any such
election is ordered shall be also adopted
by a vote OF three fourths of all the men,
bers of the Board OF Liquidation. City
Debt. Due notice OF said election shall be
journal OF said city -four weekly insertions
Of said notice constituting publication
for thirty days. providing thirty days in
Insertion and the date of said electIon1.
No bonds shall be issued under this
section for any other purpose or for any
mission of the proposition to said tax
payers. II
Section 5. In case Of fire, flood, pesti- I
enee. storm or other PUBLIC calamity. the
city of New Orleans shall have power.
by a two thirds vote of all the members
Of the Commission Council. or its sue
lessor as the governing body of said city. |
in by a three-fourths vote Of
al the members of the Board of Liquida-
lion, City Debt, to borrow money and /
ssue and negotiate bonds in such sum,
not exceeding Five Hundred Thousand {
Dollars ($500.00 as shall be necessary Q
N any one such emergency. Is
Section 6. For the purpose OF refunding 7
III or any part of the bonded Indebtedness 7
II the City OF New Orleans existing at the {
ime of the adoption of this amendment | 2
bonds may from time to time be issued !
md negotiated. When any Of the issues c
II the bonds of said city outstanding at +
he time of the adoption of this amend /
nent shall become callable according to r
heir terms or the statutes under which 5
hey are respectively issued. or when the =
consent OF all the holders of any such c