The Caldwell watchman. (Columbia, La.) 1885-1946, 1916-09-29
Act No. ITO

-
A JOINT RESOLUTION
Proposing an amendment to the Con-
stitution Of the State of Louisiana,
providing for the funding of certain
debts of the City Of Shreveport, and
judgments against the said city, the
issuance of serial bonds by said city,
providing the purpose for and the
manner in which same may be Is
sued, and the duties Of the City
Council of the City Of Shreveport.
with reference thereto; and the levy
ing by the City Council of Shreve-
port of certain taxes to retire the
bands AS issged herein, by. said city:
said amsndment to the electors of
the State for their approval or re-
lection.
Be it enacted by the General Assem-
bly, Of the State Of Louisiana, two
thirds Of the members elected TO each
branch thereof concurring, that SUB
iect to the ratification and approval of
the ELECTORS Of this State, the Consti-
tuition of the State be amended by in
cornorating therein the following pro-
visions, to-wit:
Section /. The City Of Shreveport,
NV a tour-fifths vote Of all the men,
hers of the City Council thereof, shall
have power and Is hereby authorized
tn issue 100000 Of bonds. or so much
thereof as may be necessary, to be
STYLED City Of Shreveport Serial Gold
Bonds. and to bear such rate of inter-
est as the City Council may fax from
time 70 time. as each installment of
the said bonds is offered for sale, as
hereafter provided; said rate Of inter
est at no time to exceed per cent
per annum, payable semi-annually.
! Section .. The proceeds Of said
/ bonds shall be applied to the pay
! ment and retirement Of all certificates
! Of Indebtedness issued by the City Of
| Shreveport prior to May l. 1916, and
to the payment Of all judgments rem
dered against said city prior to May
/, 1916.
Section 8. All bonds issued under
this amendment shall be in such form,
terms and denominations, and payable
at such times and places, within pc
riod of not exceeding forty years from
the date thereof, as the City Council OF
Shreveport shall determine. Said
bonds shall be issued in serial form
and shall be payable in annual in
stallments, commencing not more than
one year from their respective dates
and the installment payable in each
year shall be so fixed that when the
annual interest is added thereto, the
several annual total amounts OF prln-
as nearly equal as practicable.
Said bonds shall be signed by the
Mayor and the Treasurer or
the City Of Shreveport, and counter
signed by the Commissioners OF Ac-
counts and Finances, and the coupons
shall have the fac-simile signatures
! OF the Mayor and Secretary Treasurer.
In case any such officer whose sigma
ture or counter-signature, VINO APP
pears on such bond or coupon, shall
| cease to be such officer before deliv-
ery Of said bond or coupon to the pur-
chaser, such signature or counter-slg"
nature shall nevertheless be valid for
all purposes.
Section 4. The principal and inter
est OF all bonds authorized by this
amendment shall be payable In golc
csin Of the United States OF America
o, its equivalent, of the standare
weight and finepess at the time or tht
issuance thereof. and shall be eXehlp
from all forms Of taxation.
Section s. The full faith and credi
NJ tho CITY of Shreveport are pledged
for the payment of principal and IN
terest Of all bonds issued under TINS
amendment. The principal and inter
est of all bonds authorized and TO ~ o.
tssued under this amendment shall "
paid out of tax which shall be le ., g.
annually by the CITY CouHCIt
Shreve port, upon all taxable pr9peff 70,
in said city, sufficient to provide i iu'
the payment of the principal anu tiv ,a
terest Of said bonds as they resps a is +,
lv become due The tax so leVieu ,e eS isI
he in excess of the general ana , sp' tbj.
taxes provided for elsewhere ~
Constitution, and is not to pe a,lt ajse
bv nor to affect the limitations nti Sv
where contained in the Gohs and It tSa
as to the issuance of bonas ,1i itiia Ae
ieyying of taxes by munlcclp pa baroo,
Section 6. The PROVISIONS v r rnns
are self-operative, and the re-, el nrd; noun-
81, Of Shreveport may oy 0l"nanee
carry them into effect, -, rh,.
Re II further enacted, etc" TIM Lnat the
amendment nee proposed by by e1 Ias Act
shall be submitted to Inc il' er OF
the state for their approI,aes, a " reJec-
t the at the Congressional v ee es to
he held on the first Tu nnth ~ s, tie the
e eD Monday in the mont,nl Of Of Novem,,
bsr tn 1'd oici an' ballot to be used n said
on me 0' the words, For the proposed
on Gnou To sns providing for Of the