The Natchitoches enterprise. (Natchitoches, La.) 1888-1965, 1916-09-28
Act No. 10

SENATE Bill No. 90. BY Leon r. Smith
A JOINT RESOLUTION
Proposing an amendment to the Con-
stitution of the State OF Louisiana,
nroviding 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 ana the
manner In which 1..; same may az De ci is
Council of the City of Shreveport.
with reference thereto; and the levy
ing by the City Council of Shreve-
mort OF certain taxes to retire the
bonds as issued herein. by said city;
and providing for the submission Of
aaid amendment to the electors or
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 10 eaeh
branch thereof concurring. that, sub
feet to the ratification and approval or
the ELECTORS of this State, the Constf-
tuition Of the State be amended by In
corporatinr therein the following pro-
visIona. to-wit:
Section /. The City Of Shreveport,
nv a four-flfths vote of all the MEM
hers Of the city Council thereof, shall
have power and is hereby authorized
q Issue e6Al.0Qa Of bonds. or 20 much
thereof &s may be necessary TO pc
R1vIad City OF shreveport 6Eff&A IUlu
Bonds. and to bear such rste of inter-
est as the city Council may hx from
time to time, as each instaliment OF
the said bonds is offered for sale. as
hereafter provided; said rate OF inter-
est at no time to exceed 5 per cent
Der annum, payable semi-annually.
eeotion q. The proceeds of said
bonds shall be applied to the pay
ment ana retirement of all certificates
Of Indebtedness issued by the City of
Shreveport prior to May !, 1916, and
to the payment of all judgments rem
dered against said city prior to May
/, 1915.
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
rtod of not exceeding forty years from
the date thereof as the CITY councis a 81
bonds shall be issued In serial form
and shall be payable ia annual in
stallments. commencing not more than
one year from their respective dates,
and the instaliment payable In each
annual interest is added thereto, the
several annual total amounts of prin-
cipai and interest to be paid shall be
as nearly equal as practicable,
Said bonds shall be signed by the
Mayor and the Secretary Treasurer Of
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. who APP
pears on such bond or coupon, shall
cease to be such officer before deliv-
cry Of said bond or coupon to the pur-
| chaser, such signature or counter-stg-
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 gold
| coin of the United States of America
or itE equivalent, of the standard
weight and fineness at the time of the
issuance thereof, and shall be exempt
from all forms Of taxation.
Section s. The full faith and credit
| of the City OF Shreveport are pledged
for the payment of principal and I'M
terest of ell bonds issued under this
| amendment. The principal end inter-
est OF ali bonds authorized and to be
| Issued under this amendment shall be
| paid out of tax which shall be levied
annually by the City Council Of
| Shreveport, upon all taxable property
the payment OF the princlbal and in
terest OF said bonds as they RESPECTIVE
| Iy become due. The tax so levied is to
| be kn excess OF the general and special
! taxes provided for elsewhere in this
Constitution, and is not to be affected
| by nor 10 affect the limitations else
where contained in the Constitution
a. TO the issuance Of bonds. and the
| ievying OF taxes by municipalities.
Section 8. The provisions hereof
| are self-opsrative. and the City Goun-
| ell Of Shreveport may by ordinance
carry them into effect.
BE II further enacted, etc, That the
amendment proposed by this Act
| shall be s4hmttted to the electors of
! the State for their approval or rejec-
ton at the Congressional election to
be held on the first Tuesday after the
| first Monday in the month of Noyem-
| Der, 1915; and there shall be printed
i on the ot11cial ballot to be used in said
| election the words, For the proposed
! amendment to the Constitution of the
State Of Louisiana providing for the