New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1916-10-28
Adopted at the Session O! the Legislature OF 1911


nance before any such election is orders
shall be also adopted by vote of thre
fourths Of all the members of the Boa
of Liquidation, City Debt. Due noti
l of said election shall be published f,
thirty days in the official journal of sa
city flour weekly insertions of said NJ
tice constituting a publication for thir,
days, provided thirty days intervene b.
tween the date of the first insertion an
the date of said election.)
No bonds shall be issued under tn
section for any other purpose or for an
greater amount than that stated in Ii
submission of the proposition to sal
taxpayers.
Section S. In case of fire, hoo,
pesti.ence, storm or other public calam
ity, the City of New Orleans shall hav
power, by . two-thirds vote of all tn
members of the Commission Council, Q
its successor ~ the governing body O
said city, concu11ed in by a three fourth
vote of all the members of the Board o
Liquidation, City Debt, to borrow none
and issue and negotiate bonds in sue
sum, not exceeding in any one sue
emergency.
Section 6. For the purpose of re
funding all or any part of the bonde
Indebtedness of the City of New Orleans
existing ut the time of the adoption O
this amendment, bonds may from tim
to time be issued and negotia., i. Wher
any Of the issues of the bond, of sait
city outstanding at the time Of tine adop
ton Of this amendment shall become cal.
liable according to their terms or tn,
statutes under which they a:e respec.
lively issued, or when the consent o: al
the holders of any such issue of bonds
, can be secured, the Board Of Liquida
ton, City Debt, shall have tn right in
its discretion to call and pay any ON.
or more of said issues of bonds. and
shall be authorized by resoll ion duly
adopted to issue and negotiate bonds 10
provide the funds necessary for hat pur-
pose; provided, however, that IN no
event shall the par value of the bonds SO
sold and negotiated exceed the par value
If the bonds 50 sold and negotiated ex-
coed the par value Of the bondei indeb.-
edness thereby to be refunded.
Section 7. The full faith and credit of
the City Of New Orleans are pledged ic-
the payment of the principal ana inter-
est of all bonds issued under this amend
ment.
The principal and interest Of all ponds
authorized by and to be issued under
this amendment shall be paid primsyilv
out Of a. that one-half Of the eurplus
of the one per cent debt tax which here
tofore has been dedicated for the sup
port and maintenance of the public
schools Of said city, - levied under and
authorized by Act No. ITO of the Cen
eral Assembly Of the State of Louisiana
for the year 1890, and subsequently
made part of the Constitution Of this
State, and (2), after January l, 1928,
that portion of the one per cent debt
tax, authorized and levied under Act No.
ITO aforesaid, and the two-mill tax au-
thorized by and levied under Act No. 81
Of the General Assembly of the State of
Louisiana for the year 1899 which shall
have been released and freed from ded-
ication either by the calling and re-
funding or the payment in due course
Of al or any part of the bonds existing
It the time of the adoption of this |
provided that, if the funds |
derived from the sources Aforesaid shall |
Do insufficient in any one year to pay
The principal and interest of the bonds |
issued under this amendment and then |
and unpaid, or if for any
:ause there shall not be funds approp-
lated to or available for such purpose,
he City of New Orleans shall levy tax
,pon all taxable property in said city
efficient to provide for any such de-
iciency; and provided further that,
When the aforesaid one per cent debt tax
md two mill water and sewer tax shall
ease to be levied, the City of New Or
cans shall levy q tax upon all taxable
'orperty in said city sufficient to pay
he principal and interest of said bonds
3 they respectively become due.
Section 8. It is hereby intended that
II existing dedications and appropria-
ions Of said one per cent debt tax au-
horized by said Act No. ITO of 1890 lex
ept with respect to the said one-half Of
he surplus Of the one per cent debt tax
herein dedicated to public schools, and
+ said two-mill water and sewer tax,
uthorized by said Act No. of 1899,
hall be respected and performed accord
,g to the priorities by said statutes e.
,blished; that all of that portion Of
ae funds resulting from the levy of said
lxes which shall be released from said
and dedications by the
ayment, satisfaction or refunding Of i
ny of the bonded debt obligations now
aarged thereon and there-against shall,
'gether with the one-half Of the surplus i
the one per cent debt tax heretofore
sdicated to public school purposes, Be
led and spilled to the payment Of the
rincipal and interest Of all bonds is-
led under this amendment; that any Z
sidue thereof remaining after the pay {
emit Of the principal and interest in K
y one year Of bonds authorised byi
10 amendment shall Be turned over to .
% City Of New Orleans to be used by {
for general municipal purposes; but .
hen, and to the extent that, the obi Q
Itions now charged on sid taxes shall
paid, satisfied q refunded, said taxes :
all b released from said obligations, q
d. ultimately, when entirely released i
d discharged, shall eesss to Be levied; .
a, that, thereafter, any and al bonds .
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