The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1916-09-02

IunGiHE UT Ene payment IN due course Of
the time Of the adoption of this amend
fnent;5 provided that, if the funds derived
from the sources aforesaid shall be in
clpal and interest of the bonds issued
under. this amendment and then out
standing and unpaid, or if for any cause
there shall not be funds appropriated to
or available for such purpose, the City Of
New Orleans shall levy q tax upon all
taxable property in said city sufficient to
Vided further that, when the aforesaid one
per cent debt tax and two-min water and
sewer tax SHAH cease to be levied, the
City of New Orleans shall levy a tax upon
all taxable property in said city sufficient
to pay the principal and interest of said
bonds as they respectively become due.
Section g.. 1t is hereby intended that all
existing dedications and appropriations of
said one per cent debt tax authorized by
said Act No. 10 of 1890 Except with re-
spect to the said one-half of the surplus
of the one per cent debt tax herein dedi-
Gated to public schools) and of said two
mill water and sewer tax authorized Nv
said Act No. 6 of 1899, shall beAEesS
by said statutes establish
that portion Of the funds& Esas
the levy Of said taxes a&54 Ca z1s E III
released from said app e y
dedlcations by the paynll = S =
or refunding of any of = n 5ERfE
obligations now charged 3Sa8 i 89 @
there-againSt shall, togetf = 81 ~ Sas 4 1 -
half OF the surplus of the 5IIs - = S#1
tax heretofore dedicated 20
purposes, be used and al Is NJ &sss
ment of the principal a. 34&S sS3
bonds issued under this &a}&s $E$3 3s| SF4S AZ
any residue thereof ren$$ s.
payment of the principal s$ s. Il |Ss +
any one year of bonds autN $s
amendment shall be turnetfS 81 Y 4 s$&
City Of New Orleans to be I'll II s3 &
general municipal purposes, SF}$S g
and to the extent that, the 32$
now charged on said taxes sH zg}a $S1S
satisfied or refunded, said ia |sEZe3$aS
released from said obligation S@A
mately, when entirely reles $}z @34.fASs
charged, shall cease to =
that, thereafter, any and E H.
under this amendment II ]S s5S II
for by a tax upon all tai &slH + 3g&{ EsSSfj
the City of New Orleans s. $52 y ss7
the principal and interesA zSs
they respectively beconltF & 3sz IL fSE
however, that, in the ey s5 i ~
hereinaboVe specially dedX SS5 &54|| 8
payment of the principal a #$$ |zE
the bonds issued under thig s$S$34 81
should prove insufficient, the vs s. |yz2 81
Orleans shall, and it is hereby 81 AZ
levy in every such instance tN 541}$.e $ *
taxable property in the Cit 8e n IL
Orleans necessary to pay tn $S3 g8 q a$gz i r
and interest OF said bonds.
Section 8. The prlncipaI and - 81
all bonds authorized by this amendment
shall be payable in gold coin of the |
United states of America, or it's equiva-
lent, OF the standard Of weight and fine
ness at the time of the issuance of each |
of said bonds.
s Said bonds shall be exempt from all |
taxation for State, parish, municipal or |
other local purposes.
tors OF lnterdlcts, trustees and other /
1fduciaries may invest the funds in their /
hanuS in said bonds.
said bonds may be used for deposit with |
any officer. board municipality or other |
political subdivision of the State of Lou
isiana IN any case where by present or
said bonds may be registered and re- |
leased from registry under such rules as
the Board of Liquidation, City Debt. may |
prescribe.
Section 10. All bonds issued under this |
amendment shall bear such rate of in |
terest or, from time to time, different rates
otherwise specially provided, be in such |
form, terms and denominations, and pay
able at such times and places, within a |
the date thereof as the Board of Liquida-
ton, City Debt, shall determine Said |
bonds shall be issued in serial form and |
commencing not more than two. years |
from their respective dates, and the in
stallments payable in each year shall be
SO fixed that, when the annual interest is |
added thereto, the several annual total |
amounts of principal and interest to be |
paid shall be as nearly equal as practi-
cable; provided, said installnents may be |
fixed at five thousand dollars or the near
est multiple thereof.
said bonds shall be sign@a by the Mayor
ana the Commissioner Of Public Finance
of the City Of New Orleans, or officers |
exercising similar functions, and counter |
signed by the President or Vice President
OF the Board of Liquidation, City Debt,
and the coupons attached to said bonds |
shall bear the facsimile signatures of said |
Commissioner of Public Finance and said |
Secretary or Assistant Secretary. In case
any such officer whose signature or coun- |
ter-SigIiature appears upon such a bond |
ooup0h s Of sa BOND Of eoupon
the purchaser, such signature or counter |
signature shall nevertheless be valid for
all purposes The cost ana b exp shss OF
paid for by the Board of Liquidation,
City Debt.
amendment shall be sold by the Board of |
Liquidation, City Debt, to the highest |
bidder or bidders by sealed proposals after
due advertisement Of not less than FIVE |
City of New Orleans Ctne first insertion to !
be at least fifteen days prior to the date !
of the salel,, and such other ADVERTISE |
ment,. in said. city or elsewhere, as said
Board of Liquidation may in it's discretion
direct; provided, said Board of Liquidation
may reject any and all bids.
vided in this amendment the City of New
Orleans shall not borrow. money, issue |
bonds, notes or other evidences OF in
ticipate the collection of any of it's taxes.
No money shall be drawn from the
treasury of said city without, specific |
VI CFloaolS iite'oo,
nor shall said city make any contract or
incur any debt or obligation for any pur-
pose whatsoever unless sufficient funds,
discharge same are actually in the treas |
ury of said city at the time OF making the |
contract or mourning the debt or o&&Ra-
ton and are specifically set ASH E
dedicated to said purpose, unlesa y
otherwise provided. The forged s 4
tation IND restriction shall MOI &S
be held to Apply to contracts q
3ad wit reGnpnf
said city of light, heat or IS d HIN
telephone service or garba FHs$
destruction A$$SS #sss 2Sa
The said city may in any &s
in anticipation OF the col z Cir s5S fH8 e
faxes Of such calendar yeaHs &8&HS $zs5$ aE
PURPOSES for which such taxa
borroW such sums as shall aSa3
excess of the amount of its IA
taxes Of such year, and may VRs M
notes or other evidences of indd fras5 $$
Therefor and sucn sum, notes WfLS IS sS%3
evidences of Indebtedness @hal Ter stH#
able only out of the taxes of the ~ prJ
wear in which said loan or loans. IL 81 IT,
made, and for which indeb &C. - Of @Sl
revenues shall be pledged Bs ~
debtedness shall not be
any other funds or NOM $$ s 4 75Sf5 IA s1SSs 4
No money shall be borrot ssE sz4#l 33s' $s
city except for current sas$sA} @
noses and in no event 81 aSSSsS. :
be borrowed by said city 4 81
nav for works of publcV s@Z 8 E4as
Said city may issue for EzS&4
purposes certificates orAS ss 4 l2H SSss3
ppralsif pursuant to legia 49, R Il 2S8S