The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1916-09-09

issued under the aforesaid Act No. % Of
1914 or under subsequent legislation, shall
not at any one time be outstanding in an
amount in excess OF Five MILLION dollars
(S5, 900, 000) in face value.
Section Is. The total issue Of bonds by
the City Of New Orleans for all purposes
shall never exceed ten per centum Of the
city: provided, however, that neither the
bonds issued for water. sewerage and
drainage purposes namely. the 10000,
900 Public improvement Bonds issued
under said Act No. 6 Of 1899 and the
IS. 600. 600 New Public Improvement Bonds
issued under Act No. - of the General
the year 1906 and acts amendatory there
of and supplemental thereto. as well as
such bonds, hereby or hereafter author
any part thereof may be refundedl, nor
the 100000 Public Belt Railroad Bonds
authorized by Act No. 179 of the General
year 1905 nor any bonds hereafter au-
thorized for Public Belt Railroad pur-
poses, nor any bonds which may hereafter
acquisition or construction Of any revenue
producing public utility, nor any paving
certificates primarily chargeable against
special assessments for street paving,
shall be included in computing the ,ndebt-
edness Of said City of New Orleans under
this limitation; and provided further. that
emergency bonds may be issued as au
thorized in Section of this amendment
even though said limitation shall have
been reached; provided that the Nine Mil
ton / of this amendment shall not be
subject to the limitation herein fixed at
the time or times that same shall be
bonds that may be issued e hereafter UNDER der
this amendment there shall be included
in the computation said Nine Million
that all u of said Nine Million Dollars Lac sa Of
bonds shall not have been actually issued,
and such amount OF emergency bonds as
may be then outstanding.
Section IA The Board OF Liquidation,
City Debt. as now organized and created
and with the powers, duties and functions
prescribed by existing laws and by this
amendment, shall be continued while any
bonds authorized by this amendment are
outstanding and unpaid; and all taxes
which may be levied for the payment of
said bonds SHAH, day by day as collected,
be paid over to said Board, and shall by
ii be applied in payment OF the principal
and interest of said bonds; and said board
shall with respect to all bonds authorized
by this amendment be entitled to exercise
all the rights and enforce Che performance
of al the obligations, the same as it is
| the time of the adoption of this amend
ment with respect to any of the presently
outstanding. bonds of said City OF New
| of value held by the Board OF Liquidation,
City Debt, for bonded debt purposes other
than taxes now or hereafter levied. and
particularly all funds. property and things
of value now or hereafter held by said
Board under Act No. 1873 of the General
Assembly of the State Of Louisiana for
the year 1880 and all amendments there
| to-. shall when released from contract
obligations or dedications imposed by laws
| existing at the time Of the adoption Of this
amendment be used and employed in the
discretion of said Board in payment and
retirement of any bonds Of the City Of
| New Orleans then outstanding.
section Is. For general municipal pur-
poses, exclusive of the support and main
| tenance of the public schools and the pay
ment of the bonded debt of the City of
New Orleans said city may in each year
city tax not exceeding six and one-half
| mills on the dollar of the assessed valua-
| ton thereof; provided, however, that when
| the one per cent debt tax authorized by
said Act No. ITO of 1890 and the two-mill
water and sewer tax authorized by said
Act No. of 1899 shall both have ceased
| to be levied, and if thereafter the taxes
levied by the City of New Orleans in any
one year for bonded debt purposes be less
| than ten mills, said city. may in such
| additional tax which, when added to the
| tax of six and one-half mills hereby
authorized and the taxes levied for the
| its bonds as they severally mature, shall
one-hah mills.
| Section 16. Inc reservation of twenty
per cent of the revenues OF the City of
| New Orleans shall not hereafter be made
| as directed by Section 40 OF Act No. 159 of
Louisiana for the year 1912, except inso-
| far as the fund so directed to be reserved
shall have been appropriated or dedicated
payment of any Obligation Of the the CITY IL '1 Of
| New Orleans, and said reserve fund of
| each year, when released from the obli-
cations 81 charged against It by law and
Of the adoption of this amendment, shall
be used for general municipal purposes.
| Section IL. For the support, mainte-
Il nf "a
public schools in the City of New Orleans,
the Board Of Directors OF the Public
Schools. Parish Of Orleans. or its legal
successor, shall levy annually such tax,
not exceeding three and one-half mills. as
/ said Board shall deem necessary, which
levy shall be certified by said Board to
governing body OF the City of New Or
leans, which shah cause the tax to be
entered upon the tax rolls Of said city
property in said city as assessed and
valued for city taxation purposes: and
said tax shall be collected by said city and
Public Schools, Parish of Orleans, day by
day as collected.
Said tax shall be in lieu of all taxes,
appropriations and funds now authorized
or directed to be levied or contributed by
| the City of New Orleans for public school
purposes. either by said Act No. ITO of
ton Of this State All constitutionai pro-
visions to the contrary, as well as Act
No. 262 Of the General Assembly Of the
| State of Louisiana for the year 1914,
| ratified as an amendment to the Consti-
tuition of this State, are hereby abrogated
and repealed; and the City of New Orleans
| or employ any Of its taxes or funds for
the establishment. support or maintenance
of the public schools, directly or indirect
~, except as herein authorized; provided.
however. that the City of New Orleans
shall administer. use and employ all the
funds. property or things of value now or
legacy, bequest or donation made or to
be made directly to it for school purposes,
and shall carry out and execute the con-
ditions of all such special legacies be-
| quests or donations that have been here
! tofore made to and accepted by said City
of New Orleans and all such as may here
after be made to and accepted by said city.
| Section is. For the purpose of giving
additional support to the Public Schools,