The Caldwell watchman. (Columbia, La.) 1885-1946, 1916-09-22
Act No. ITO
senate Bill No. Sc. BY Leon r. Smith
A JOINT RESOLUTION

Senate Bill No. 9f. BY Leon r. Smith
A JOINT RESOLUTION
Proposing an amendment to the Con-
stitution Of the State Of Louisiana,
providing for the funding or certain
debts of the City Of Shreveport and
INDICTMENTS 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
bonds as issued herein. by said citya
and Droyiding for the submission OF
' said amendment 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 conourring, that, sub
ject to the ratification and approval or
the electors of this State. the Consti-
tuition Of the State be amended by In
cooperating therein the following pro-
visions, to-wlt:
Section 1. The City Of Shreveport.
by a four-fifths vote Of all the mem
bers of the City Council thereof, shall
have power and Is hereby authorized
to 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 fix from
time to 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 5 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 3. 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
wear shall be so fixed that when the
annual interest is added thereto, the
several annual total amounts of prin-
cipal 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
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, who APP
pears on such bond or coupon, shall
cease to be such officer before defiv-
cry OF said bond or coupon to the pur-
chaser, such signature or counter-sfg-
nature shall nevertheless be valid fol
all purposes.
est OF all bonds authorized by this
amendment shall he payable in gold
cein of the United States Of America
OF it's 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 In
terest OF all bonds issued under thi:
amendment. The principal and inter
est of all bonds authorized and to b'
issued under this amendment shall bt
maid out of tax which shall be Levied
annually by the City Council o.
Shreveport, upon all taxable property
in said city. sufficient to provide fol-
the payment of the principal and in
terest of said bonds as they respective
" become due. The tax so levied is t.
be in excess of the general and specia
taxes provided for elsewhere In thi
Constitution, and is not to be affected
bv nor to affect the limitations else
where contained in the Constitution
ms to the issuance Of bonds, and TIL
levying of taxes by municipalities.
Section 6. The provisions hereo
are self-operative, and the City. Coun
Gil OF Shreveport may by crdinanc
carry them into effect.
Be it further enacted etc. That tn
amendment proposed by this Ac
shall be submitted to the electors o
the State for their approval or rejec
ton at the Congressional election t
be held on the first Tuesday after tn
first Monday in the month of Novem
Der, 1916; and there shah be printe
on the official ballot to be used in sal
| election the words. For the propose
amendment TO the Constitution OF tn
| ,.+o oF IoniSiona Droyidiug for tn