Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1916-10-13


terest Of all bonds issued under this
The principal and interest of ali bonds
authorized by and to Dc iesuea u .r,,x
out of CD that one-half OF the surplus
OF the one per cent debt tax which here
tofore has been dedicated for the sup
Schools ano Of said eity as evie under and
authorized by Act No. ITO OF the GEN
eral Assembly of the State of Louisiana
for the year 1880. and subsequently
State. and (2). after January l.. 1928.
that portion of the one per cent oept
tax. authorized and levied under ACT NO.
10 aforesaid. and the two-mili tax au
thorized by and levied under Act no.
of the General Assembly of the state
of Louisiana for the year 1893 when
shall have been released and freed from
dedication either by the calling ana re-
of all or any part Of the bonds existing
at the time OF the adoption OF this
amendment; provided that. II the FUNDS
be insufficient in any one year to pay
the principal and interest OF the bonds
issued under this amendment and then
outstanding and unpaid. or II Tor any
priated to or available for such purpose,
the City of New Orleans shall levy
tax upon all taxable property IN sala
city sufficient to provide for any sucn
when the aforesaid one per cent debt
tax and two mill water ana sewer tax
shall cease to be levied, the City OF
New Orleans shall levy tax upon All
to pay the principal and interest OF
said bonds as they respectively become
due.
Section 8. 1t is hereby intended that
ali existing dedication and appropria-
lions of said one per cent debt tax au-
thorized by said Act No 10 of 1890 lex
cept with respect to the said one-naii
OF the surplus of the one per cent oept
tax therein dedicated to public schools).
and of said two-mill water and sewer
tax. authorized by said Act NO: OF
1899. shall be respected and performed
utes established: that all of that portion
of the funds resulting from the levy OF
said taxes which shall be released from
said appropriations and dedications py
the payment. satisfaction or refunding
of any of the bonded debt obligations
now charged thereon and there-against
shall. together with the one-half OF the
heretofore dedicated to public school
purposes, be used and applied to the
payment of the principal and interest OF
all bonds issued under this amendment;
that any residue thereof remaining after
the payment of the principal and inter.
est in any one year of bonds authorized
by this amendment shall be turned over
to the city Of New Orleans. to be used by
when, and to the extent that. the obliga-
tions now charged on said taxes shall be
/ paid, satisfied or refunded. said taxes
shall be released from said obiigations:
and, ultimately, when entirely released
| and discharged, shall cease to be levied:
| and. that, thereafter. any and all bonds
| issued under this amendment shall be
provided for by q tax upon all taxable
| sufficient to pay the principal and in
| terest Of said bonds as they respectively
! become due; provided. however, that. In
iy dedicated for the payment Of the
| principal and interest OF the bonds is
sued under this amendment should prove
| insufficient. the City Of New Orleans
shall, and it 10 hereby required to. levy
| in every such instance a tax upon all
| taxable property in the City Of New Or
| leans necessary to pay the principai
| and interest of said bonds.
| Section 9. The principal and interest
| Of all bonds authorized by this amend
ment shall be payable in gold coin of
the United States Of America, or its
equivalent, of the standard Of weight
Of each instaliment OF said bonds
| Said bonds shall be exempt from all
taxation for State. parish. municipal or
| other local purposesl
| Savings banks. tutors OF minors. cura-
tors of interdicts. trustees and other
| fiduciaries may invest the funds in their
| hand in said bonds.
| Said DOnQS may De USED lot OepOSIt
| with any officer. board. municipality or
other political subdivision of the State
| OF Louisiana in any case where by pres
| ent or future laws deposit or security 10
| required.
Said bonds may be registered and re-
| leased from registry under such rules
as the Board of Liquidation. City Debt
may prescribe.
this amendment shall bear such rate OF
interest or, from time to time. different
| rates OF interest, and shall. except as
herein otherwise specially provided. be
| and payable at such times and places,
| within a period of not exceeding hfty
years from the date thereof. as the
Board Of Liquidation: City Debt shall
| in serial form and shall be payable in
annual installments. commencing not
| more than two years from their respec-
| tive dates. and the installment payable
| the annual interest 10 added thereto. the
several annual total amounts Of prin.
| cipal and interest to be paid shall Dc
as nearly equal az practicable; provided
thousand dollars or the nearest multi.
pie thereof.
said bonds shall be signed by the
anS ctW of Ne%
officers exercising similar functions and
countersigned by the President or Vice
President and the Secretary or Assist
ant Secretary of the Board of LiQuida'
ton, City Debt, and the coupons at
tached to said bonds shall bear the
fac-simile signatures Of said Commits
sioner Of Public Finance and said Sec
Rotary or Assistant Secretary. In cas-
any such officer whose signature
or counter-signature appears upoI
cease es to DO ,uch officer befor,
delivery Of said bond or coupon
counter-signature shall nevertheless o.
valid for all purposes. The cost and ex
pense of preparing and selling sait
bonds shall be paid for by the Board O.
Section IL. ALI ponds issued unde
this amendment shall be sold by tn
Board of Liquidation, City Debt. to tn
highest bidder or bidders by sealed pro
posals after due advertisement Of no
less than five insertions in the oficia
journal Of the City of New Orleans TIN
first insertion to be at least fifteen day
other advertisement. in said city o
elsewhere, as said Board OF Liquidation
may in its discretion direct; provided
said Board Of Liquidation may re,ec
Section IL. Except as otherwise pro
, vided in this amendment. the City o
New Orleans shall not borrow money
issue bonds. notes or other evidences Q
Indebtedness or pledge its credit or an
. ticipate the collection of any OF 1t
taxes.
No money shall be drawn from tn
! treasury of said city without specifi
appropriation therefor previously mad'
| nor shall said city make any contrac
: or incur any debt or obligation for an
| purpose whatsoever unless sufficien
: | funds, not otherwise appropriated,
| pay and discharge same are actually !
the treasury OF said city at the time Q
= | making the contract or mourning tn
l debt or obligation and are specifcall
I | set aside and dedicated to said purpos
9 | unless herein Otherwise provided. Tn
I foregoing Limitation and rsstrictio
3 contracts or obligation incurred wit
r respect to the furnishing to said city {
q | liuhf heat nQWer. WatAr. teleDhOI