The Era-leader. [volume] (Franklinton, La.) 1910-current, 1916-09-14

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issued under the If0resaid ACt ~, rs OF
1914. or under subsequent legislation, shall
not at any one time be OUTSTANDING IN an .
amount in excess Of Five Million Dollars
, 3. coo, O00D III face value,
Section Is. The total issue Of bonds by .
the t'jtv Of New Orleans for all purposes .
shan ufyor exceed ten Der ceutum OF the .
assessed valuation Of the property III SAID
CIV. urOyidrd, however, that neither the
bonds issued for water. sewerage and
drainage purposes ,nameIy. the $4,000, I.
600 Publlc IMPROVEMENT Bonds issued
under sad Act no. Of 1899 and the
IS COO uvo New Public Improvement Bonds
issued unde. Act No. - Of the General
Assembly Of the state Of Louisiana for
the year 1906, and acts anendatoTy there
Of ana supplemental thereto, rs Well as
such bonds hereby or hereafter author
lied. INTO which the aforesaid bonds or
any part thereof may be retunuedl, nor
the s. JoD 900 Public Belt Railroad Bonds
authorized by Act No. lI9 Of the General
Assembly OF the state OF louisiana lor Ile
year 1907, nor any bonds I hereafter iAa-
thorized Tor Public Belt Railroad pur-
poses, nor any bonds which may hereafter
be issued Tor water supply or Tor the
acquisition or construction or any revenue
producing public uullty, nor any paving
certificates primarily cA4rgeaDle against
special assessments for street PAVING
shall be included III computing the nde0t-
edness Of SAID City OF New orleans under
this limitation; ana provided further, that
emergency bonds may be ISSUED as au-
thOrlzcd III Section , of TINS ameMulneht
even though said limitation shall nave
been reached provided that the Nine Mil
lion Dollars Of bonds authorized by Sec
ton ! Of this amendment shall not be
subject TO the limitation herein nAtu al
the time or times that same shall be
ISSUED, Dat, win respect 10 any otieI
bonds that may be issued hereafter under
this amendment there SHAH be lnGlQded
in the computation SAID Nine Million
Dollars Of bonds, notwithstanding the tact
that all Of SAID Nine Million Dollars OF
BONDS SAail not nave beeh aclualIS ISSUED
and such amount Of emergency bohdS as
may be then outstanding,
Section II. The Board Of Liquidation.
City Debt, as now organized and created
ana with the powers, duties ana functions
prescribed by cXlStlng laws ana bE JN!S
amendment, shall be continued While any
outstanding and unpaid, and all taxes
which may be levied tor the payment OF
said bonds SHAH, day by day as coileCted,
be paid over 10 said Board, ana shall by
| it be applied IN payment OF the principal
| ana interest Of sad bonds, and sad board
shall with respect to all bonds authorized
| by this amendment be entitled TO exercise
ali the rights and enforce the performance
| OF all the Obligations, the same as 1t is
authorized TO do under laws existing at
liIf lilIit VI VIC ttNiNIllOL VI ''Il'4It1
| ment with respect to any of the presently
| outstanding bonds OF said City OF New
,ileaiiS. III luHIS PLopGLt$ 3ItW HhiLsS
o I"HT neH ~ LG hI oht ~
NY pert iCt no',reT H9nt % U IaJ ot and
than t4Aes now mo or herealle[ l9TI S a as
PHi ui"'t! an tu'"s, ptopc' CIV ttn9
OF N"lue no" or ReIe@iteI "elu ~ satI
| soar" 4hoef .fcI 20 -" OF me S'eiet d.
Assembly OF tte o(4Ie Oh LouSLHi ,hor roI
tL'e xxi ISnT ~" I'l Ct
S wi n i0t bV w
~ ~;