The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1916-09-02
CONSTITUTIONAL AMENDMENTS.
ACT NO. 4.

JOINT RESOLUTION
PROPOSING an amendment to the Consu-
tuition OF the state of Louisiana pro-
yiding for: The funding OF certain
debts OF the City OF New Orleans ana
of the Board of Directors OF the PuDhc
schools. Parish of Orleans. respective,
ly; the issuance of serial bonds by said
city, the purpose for and the manner
in which same may be issued ana the
duties ana functions of the Board of |
Liquidation, City Debt, with reference
thereto; and the levying by the CITY
of New Orleans and the Board OF
School Directors, Parish of Orleans.
respectively OF certain taxes for gen
eral municipal and school purposes;
and providing for the submission OF
said amendment to the electors OF tne
state for their approval or rejection
BE il enacted by the General Assembly
of the State OF LOUISIANA, tWo-thlrds OF
ali the members elected TO each House
eoncurring, that subject to the ratinca-
don ana approval of the electors OF the
state, the Constitution OF the state pc
amended by Incorporating therein the fo'-
lowing provisions, to wit; -.
section l. The city Of New orleans, py
of the Board of Liquidation, CITY Debt,
approved by resolution OF the Commission
Council. or It's successor as me goxsertn IA,
cote OF thirds OF all members OF sald
council or governing body, SHAH nave
power ana is hereby authorized to issue
Eine Million Dollars (S9, 600, OO0) of bonds,
20 be styled city OF New orleans Seriai
Gold Bonds" and to bear such rate OF
Debt. may nix from time to time as each
Instrument OF said bonds is offered for
sale as hereinafter provided. -.
section q Three Million Dollars (SS,-
100, OOO) in par value, of the bonds au-
thorized by section l OF this amendment
shall forthwith be sold.
The proceeds OF said three mllnon
dollars of bonds shall be applied exclu-
sively to the following purposes ana In
the following order:
(a) The payment OF the outstanding and
unpaid school Teachers Salary Bonds OF
the CRY OF New Orleans, issued under
Act No. 2 of the General Assembly OF the
state OF Louisiana for the year 1906, which
bonds shall be called for payment and
paid as soon as practicable;
(b) The payment of the principal OF the
floating Indebtedness of the Board OF d.
rectors OF the Public Schools, Parish OF
Orleans, evidenced by note or notes out.
standing at the time of the adoption OF
this amendment to an amount not ex-
ceeding Six Hundred and FIFTY Thousand
Dollars (s650,000); provided that, in the
event that said Indebtedness or any part
thereof shall have been paid by said
Board out of it's current revenues pre-
vious TO the adoption of this amendment,
the amount thus paid mot TO exceed 5000
0OO however), shall be paid over in cash
to said Board to be used by IT for school
purposes, as provided by law;
Se) The payment ol ane ,i s1 oo "a witS
interest thereon, borrowed by the CITY OF
New Orleans for storm emergency pur-
poses in the year 1915.
I'D The payment OF the overdraft or
other Indebtedness due by the City OF New,
Orleans to its fiscal agents or other banks
them to said city, other than those re-
ferred to in paragraph (c) of this section,
to an amount not exceeding in principal
and interest the sum OF one Mlon nnaes
ts1.35O.000); and
(e) The balance of saio proceeds shall
be used and employed by the Board OF
LIQUIDATION, City Debt, for the payment
of 1nnnrOyament Certificates
City OF New Orleans, as set forth In
section OF this amendment.
I section 3. The remainder OF the bonds
authorized by Section / of this amend
ment, or so much thereof as may be
necessary, shall be sold. from time to
Liquidation, city Debt. may determine,
ami the proceeds Of the sale thereof shall
be applied by said Board to the payment
thorized by Act No. As Of the General
Assembly OF the State Of Louisiana for
the year 1908, and acts amendatory there,
OF. and presently outstanding or issued
at any time in payment Of any contract
mace before this amendment takes eHect,
at their respective naturities or, when
said maturties can be anticipated upon
terms satisfactory to said Board.
Said Act No. 56 of 1905 and all amend
ments thereto, as well as all statutes upon
No. 12S and No. go of the General As
sembly OF the State of Louisiana for the
year 1910 and other statutes on the same
pertain to the City of New Orleans, be
and the same are hereby repealed; never
theiess Public Improvement Certihcates
said Act No. IS of 1908, and amendments
thereof. in payment of any contract made
before this amendment takes effect
Section 4. The City of New orleans
may also issue and negotiate its bonds
when authorized by vote OF majority
in number and amount of the property
taxpayers, who shall have been assessed
for property in said city as shown by tht
last assessment made prior to the subnnis
sion of the proposition to the said propert,
taxpayers and who are otherwise qualifet
to vote under the Constitution and law.
OF this State, voting at an election called
by ordinance adopted by a vote OF two
thirds of all the members of the Commits
sion Council. or it's successor as the gov
erning body of said City of New Orleans
and which ordinance before any, suci
election is ordered shall be also adoptet
by a vote of three fourths of all the mem
beers of the Board OF Liquidation. CIT.
Debt. Due notice of said election shall D.
published for thirty days in the ofiicia
journal OF said city -four weekly insertions
of said notice constituting publication
for thirty days. providing thirty days in
tervene between the date of the frs
insertion and the date of said election).
No bonds shall be issued under thi
section for any other purpose or Tor an.
greater amount than stated in the sub
mission of the proposition to said tax
payers.
Section 8. In case of fire, flood, pesti
City OF New Orleans shall have power
by two-thirds vote of all the member
of the Commission Council, or its sue
cessor as the governing body of said city
concurred in by three-fourths vote o
all the members OF the Board of Liquida
ton. City Debt, to borrow money an
issue and negotiate bonds in such sum
not exceeding Five Hundred Thousan
Dollars (S500.000), as shall be necessar
i'm any one such emergency.
Section 6. For the purpose OF refundin
all or any part of the bonded indebtedness
of the city OF New Orleans existing at IN
bonds may from time to time be issue
and negotiated. When any Of the issue
of the bonds OF said city outstanding a
the time of the adoption of this amend
ment shall become callable according {
their terms or the statutes under whic
they are respectively issued, or when tn
consent OF all the holders of any sue
issue of bonds can be secured, the Boar