The Caldwell watchman. (Columbia, La.) 1885-1946, 1916-11-03
Act No. ITO

Senate Bill No. 90. BY Leon r. Smith
JOINT RESOLUTION
Proposing an amendment to the Con-
s%titution Of the State OF Louisiana.
providing for the funding OF certain
debts of the City Of Shreveport, and
judgments against the said city, the
issuance of serial bonds by said city.
providing the purpose for and the
manne 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 city;
and providing for the submission OF
the State for their approval or re-
lection.
Be 1t enacted by the General Assem-
bly, Of the State Of Louisiana. two
thirds of the members elected to each
branch thereof concurrfns. that, sub
feet to the ratification and approval Of
the electors Of this State. the Consti-
tuition Of the State be amended by In
cooperating therein the following pro-
visions. to-wit:
Section l. 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 $500, 900 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.
I'll .a4 .,tl
bonds shall be applied to the pay
mont and retirement OF all certificates
of indebtedness issued by the City Of
shreveport prior to May I. 1915. and
to the payment Of all judgments rem
dered against said city prior to May
1, 1916.
Section 8. All bonds issued under
this amendment shall be in such form.
terms and denominations. and payable
et such times and places. within a pc
Rod Of not exceeding forty years from
tho date thereof, as the City Council Of
Shreveport shall determine. said
and shall be payable In annual In
stallments. commencing not more than
ono year from their respective dates,
and the installment payable In each
year 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 or
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 ap-
pears on such bond OF coupon, shall
cease to be such officer before deliv-
cry Of said bond or coupon to the pur-
chaser, such signature or counter-s1g-
nature shall nevertheless be valid for
all purposes.
Section 4. The principal and inter
amendment shall be payable In gold
cein Of the United States Of America
o, its equivalent, of the standard
weight and fneness at the time of the
Issuance thereof. and shall be exempt
from all forms Of taxation.
Section 5. The fun faith and credit
Of the CITY Of Shreveport are pledged
tor the payment Of principal and in
teres. OF all bonds issued under this
amendment. The principal and inter-
est of all bonds authorized and to be
ISSUED uLueE lilS diilttluiiiSiit NC "
paid out of tax which shall be levied
annually by the City Council OF
Shreveport, upon all taxable property
in said city, sufficient to provide for
the payment of the principal and in
terest of said bonds as they respective
" become due. The tax so levied is tc
be in excess Of the general and special
taxes provided for elsewhere In this
Constitution. and is not to be affected
by nor to affect the limitations else
where contained in the Constitution
as to the issuance Of bonds, and the
levying of taxes by municipalities.
Section 6. The provisions hereof
are self-operative, and the City Coun'
Gil Of Shreveport may by ordinance
carry them into effect.
Be 1t further enacted, ETC.. That thu
amendment proposed by this Ac
shall be submitted to the electors O
the State for their approval or reJec'
ton at the Congressional election tt
he held on the first Tuesday after tn
frst Monday in he month OF Novem
her. 1916: and there shall be printe'
On the official ballot to be used in sail
election the words. For the PROPOSED
amendment 10 the Constitution OF tn
$500 ..ox.fHtnU fnT n