The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1916-11-04

AMENDMENTS
TO THE
CONSTITUTION OF LOUIS
lana
Adopted at the Session of the
Legislature of 1916.
To Be Voted On at the Congress
siOnai Election.
Act No. 4

epsctlvely the issuance OF serial bonds
by said city. tie purpose TOR ana me
nsnuer In which sam" may be issued
and the duties and functions ~ the
board Of Liquidation, CITY Debt "ItH
reference thereto, and the leEylug hF
che City Or New orleans and ne
board OF SchOo, directors. Parish "t
Orleans respectively. Of certain taxes
for general municipal and school i'HF-
poses; and providing for the SNo'u.S-
sion OF said amendment TO the cleo
tors OF the State Tor their approval
or rejection.
Be Il enacted by the Geuer"! Assem-
bly, Of the State OF Louisiana, two-thlrds
Of all the members elected 10 ",i'h mousse
eonourring. that subject to tie rdtlHca-
ton and approval or the electors OF
tho State the CoustItutipn OF III" state
be smsndei by incorporating therein
the following provisions. tp-"it:
Section ! The city OF New orleans,
by vote OF thres-rouTths Of all the
members OF the Board or Liquidation
City Debt. approve by resolution ~ ITO
Commission Council. or It's successor as
the governing body Of said muEic pdIity,
adopted by a vote OF two-thiTIs Of AL
the members of said council or govern
ing body. shall have power ami lS here
by authorized TO issue Nine hli!Iun boI.
lars (Ss,0OU. OO0J OF bonds. 60 be STYLED
city OF New orleans Serial GoId
Bonds" and TO bear such rat" ~ inter
est as the Board or Liquidation, ''ty
Debt may FIX from tim" 10 time as ed'h
installment Of said bonds IS offered tor
sale as hersInaftcr provided
Section ?. Three Million Dollars H7.-
0O0. 000). In par value OF tie bonds hN-
thoriZed by Section OF THIS amendment
shall forthwith be sold.
The proceeds of said three million
dollars OF bonds shall be applied eNclu-
slvely TO the following purposes and in
the following order:
Ca) The payment OF the outstanding
and unpaid school Teachers Salary
Bonds OF the city Of New Orleans, is
sued under Act No , of the General As
sembly OF the state of Louisiana rDr
the year 1906. which bonds shall be
called for payment and paid as soon as
(bJ The payment Of the principal OF
the floating indeetedpess Of the
lie Schools. Parish OF Orleans.
evidenced by note or notes out
standing at the time OF the adoption
OF this amendment to an amount nc
exceeding Six hundred and Fifty Thou
sand Dollars G650.000): provided that
in the event that said Indebtedness "r
any part thereof shall have been paid
by said Board out OF its current reve-
nues previous to the adoption OF this
amendment. the amount thus paid mot
10 exceed S65O.0OO, however,, shall be
paid over In cash to said Board TO ne
used by II for school purposes. as pro-
(c) The payment Of the sum OF Five
Hundred Thousand Dollars H5OO.0Oo).
with interest thereon, borrowed bN the
City OF New Orleans for storm emergen-
cy purposes in the year 1918;
(dD The payment OF the overdraft or
other Indebtedness due by the City OF
New orleans TO us nscaI agents or other
banks representing loans or advances
made by them to said city. other than
those referred TO in paragraph Co OF
this section. TO an amount not exceed
ing IN principal and interest the sum
of One Million Three Hundred and FIJI
~ Thousand Dollars Sl,350.O0O): and
Cel The balance OF said proceeds
shall be used and employed by the
Board OF Liquidation. City Debt. for the
payment Of Public Improvement CertrH-
Gates OF the city Of New Orleans. as SET
forth in Section OF this amendment
Section ; the remainder OF the
bonds authorized by Section ] OF this
amendment. or so much thereof a. may
he necessary, shall be sold. from time "a
time. In such amounts as the Board OF
Liquidation. city Debt NAV determine
and the proceeds OF the sale thereof
shall be applied by said Board TO the
payment OF Public Improvement CertIn.
Gates authorized by Act No Sc OF the
General Assembly OF the State OF Louis.
lana for the year 1903. and acts amcnda
tory thereof. and presently outstanding
or issued at any time in payment OF
n any contract made before this amend.
Y msnt takes effect at their RESPECTIVE,
n maturities or when said matur'ties car
be anticipated upon terms satisfaCtor,
TO said Board.
Said Act No 90 OF 1908 and nj
amendments thereof as we'll as ali stat
ntes upon the same subject and 50
much OF Acts No. l2S and No. 30 %
the General Assembly OF the state q
Louisiana for the year 1910, and Othe
statutes on the same subject matter "a!
may ahect apply or pertain to the CITY
or New Orleans, be and tho same ar,
hereby repealed: nevertheless Publt
Improvement Certificates NAV no issue,
In the manner provided by said Act No
S. OF 1908. ana amendments thereof I,
DAYmRnt 80
this amendment takes effect.
Section I. Tho city Of New Orloan,
may also issue and negotiate It's bond.
when authoriZediby a vote of maiprfr,
in number and smOunt OF the urope~r,
taxpayers who Shall have been assrssa,
for property In said city as shown D.,
the last assessment made prior to IN,
submission OF the proposition to m,
said property taxpayers and who ar
otherwise qualified to vote under m,
Constitution and laws or this state
voting at An election called by o-diu4uc,
adopted by n vote Of two thirds of al
the m>TEnrs OF the Commission Coun
ell. or its successor as the Covcrnin,
body OF said CITY OF New orleans an,
ton IL ordered shall be also adopted p,
vote OF three-fourths Of all the NOW
bsrs OF the Board OF Liquidation. ct,
Debt Due notice Of said election shat
be published for thirty DAYS In the on
oial Journal OF said city t:our weeSIr
insertions or said notice constituting
thirty days intervene between the DAT,
" the first insertion and the date o.
said elecuOn).
No bonds shall he issued under TN,
section for any other purpose or fol
any greater amount than that stated -
the submission OF the proposition I,
said taxpayers.
Section s. In case OF FIRE. roo- PES
thence. storm or other public calamity
the CITY OF New Orleans shall hav,
power. by a two-tHiriS vote OF all IN.
members of the Commission Council. OF
its successor as the governing BODY ot
said city, concurred I'm by a three,
fourths vote OF all the members Of tn,
BOARD OF Liquidation, city Debt. tC
borrow money and issue and negotiat,
bonds in such sum. not exceeding Fiv,
Hundred Thousand Dollars (S5OO. OOOD
as shall be necessary in any one such
emergency.
Section 8. For the purpose or re.
funding all or any part Of the bonded
Indebtedness OF the CITY OF New Orleans
existing al the time OF tn. adoption OF
this amendment. bonds may from time
TO time be issued and negotiated. When
any OF the issues of tho bonds OF said
city outstanding at the time OF the adop-
tion OF this amendment shall become
callable according TO their terms or the
statutes under which they are respec-
lively issued. or when IN. consent OF
all the holders OF any such issue of
bonds can be secured. the Board OF Lii
quotation. City Debt. shall have the
any one or more OF said issues OF bonds,
and shall be authorized by resolution
duly adopted to issue and negotiate
bonds to provide the funds necessary
for that purposes: provided. however.
Chat in no event shall the par value OF
esod the par velue of the bonded In
l6bfOdnsss thereby to be refunded.