The Caldwell watchman. (Columbia, La.) 1885-1946, 1916-10-13
PROPOSED
AMENDMENTS
TO THE
CONSTITUTION OF LOUIS
lana
Adopted at the Session Of the
Legislature Of 1916.
To Be Voted On at the Congress
siOnal Election.
Act No. 4

Honss Ril No. 4 BY Mr.. ByFne
4 JOINT RESOLUTION.
Proposing an amendment to the SohSLI.
tuition Of the state Of Louisiana pro
vtding for: The funding of certain
n.bts Of the civ Of New Orleans and
Of the Board Of directors OF the Iuo-
lie Schools. Parish OF Orleans, re
spectlveIy the issuance Of serial bohiS
by SalQ vltV, the purpose ior ana inc
manner In which same may be !ssur"
and the duties and functions OF ltt
Board of Liquidation, cry lebI WIN
reference thereto, and the IcE!H t5 ~
the CITY Of New Orleans ana Tie
posrd az School Directors. Parish OF
Orleans. respectively, OF certain taxes
for general municipal and srhool pt''
poses: and providing for the SuDrnlS-
sion Of said amendment 20 the rie',
tors Of the State for their approval
or rejection.
gs It enacted by the Genera! Assem-
bly Of the State Of Louisiana. tWo-thItu3
Of all the members elected 10 each mousse
concurrfng,, that subject to the tat!a'd.s
ton and approval or me s'eEto'S Va
the State. the Constitution of the STATE
be amended by Incorporating therein
the following provisions, t0-Wit'
Section /. The City OF New Orleans,
nv q vote o. ~three-f0uythS Of all the
members of the Board OF Lilu'datloh
CITY Debt, approved by resolution OF me
Commission Council. or It's successor as
the governing body OF said m~uHlripdtily
adopted by a vote or tWo-thlids Oh an
the members Of said council or govern
ing BODY, Shall have power and is mere
nv authorized to issue Nine Million Dol
lars (SgOV0.U00D of bonds, to be styled
CITY of New Orleans Serial Gold
Ronds." and to bear such rate or inter
est as the Board of Liquidation, CITY
Debt, may fix from time to time as each
installment Of said bonds Is offered Tor
sale as hereinafter provided.
Section 2. Three Million Dollars 49,
900, 0Q0l, in par value, OF the bonds au-
thorized by Section | of this amendment
shall forthwith be sold.
The proceeds of said three million
dollars of bonds shall be applied exclu-
cively to the following purposes and IN
the following order:
ca The payment of the outstanding
ard unpaid school Teachers Salary
Bonds OIL the City Of New Orleans is
sued under Act No 2 of the General As
sembly of the State of Louisiana >or
the year 1905, 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
bO4Tu VI blIttlolo vi liz ~
lie Schools. Parish Of Orleans.
evidenced by note or notes out
standing at the time of the adoption
OF this amendment to an amount NJ
exceeding Six Hundred and Fifty Thou
sand Dollars ($650.000); provided that
IN tho event that said indebtedness or
any part thereof shall have been paid
by said Board out of its current reve-
nues previous to the adoption Of this
amendment. the amount thus paid mot
to exceed $3.50, 900. however,, shall he
paid over in cash to said Board to De
used by it for school purposes, as pro-
vtded by law;
(c) The payment Of the sum OF Tive
hundred Thousand Dollars $500. 0O0).
with interest thereon, borrowed by the
City of New Orleans for storm emergen-
cy purposes in the year 1915;
(d) The payment of the overdraft or
other Indebtedness due by the City of
New Orleans to its fiscal agents or other
banks representing oans or advances
made by them to said city. other than
those referred to in paragraph tc) OF
Ing IN principal and interest the sum
of One Million Three Hundred and Fiji
ty Thousand Dollars Csl,35O. 00O); and
(e) The balance of said proceeds
shall be used and employed by the
Board Of Liquidation, City Debt, for the
payment of Public improvement Certlh-
Gates Of the City OF New Orleans, as set
Section 3. The remainder Of the
bonds authorized by Section l of this
amendment, or so much thereof as may
be necessary. shall be sold. from time ~
time. in such amounts as the Board OF
Liquidation, City Debt. may determine,
and the proceeds of the sale thereof
shall be applied by said Board to the
payment of Public Improvement Certtf-
Gates authorized by Act No. Sc Of the
General Assembly of the State of Louis
lama for The year 1908. and acts amenda-
tory thereof, and presently outstanding
or issued at any time In payment OF
any contract made before this amend.
maturities or when said maturities can
be ANTICIPATED upon terms satisfactory
to said Board.
Said Act No. 56 of 1908 and all
amendments thereof. as we'll as all stat
utes upon the same subject. and SC
much of Acts No. 1913 and No. 270 oil
the General Assembly Of the State OF
Louisiana for the year 1910, and other
statutes on the same subject matter, as
may affect, apply or pertain to the City
of New Orleans, be and the same are
hereby repealed; nevertheless Public
Improvement Certificates may be ISSUED
in the manner provided by said Act No
w VI lJVo, aitu amendments liltT pDl, II
payment Of any contract made befor.
this amendment takes effect.
Section 4. The City of New Orleans
may also issue and negotiate its bond.
when authorized by a vote Of a maiorI,,
In number and amoun of the property
taxpayers. who shall have been assessed
for property in said city as shown b,
the last assessment made prior to thu
submission of the proposition to tn,
said property taxpayers and who ar.
otherwise qualified to vote under tn,
Constitution and laws OF this State
voting at an election called by ordinanc,
adopted by a vote Of two-thirds Of al
the members Of the Commission Coun
ell. or its successor as the governing
body Of said City Of New Orleans, ant
which ordinance before any such cleo
tion is ordered shall be also adoptea b,
q vote of three-fourths of all the mem
bers of the Board of Liquidation, Cit,
Debt. Due notice Of said election shat
be published for thirty days In the off
cial journal of said city -four week.!
insertions Of said notice constituting {
publication for thirty days, provided
thirty days intervene between the dat.
OF the first insertion and the date o.
said elecuon).
No bonds shall be issued under thu.
section for any other purpose or fol
any greater amount than that stated II
the submission Of the proposition t
said taxpayers.
Section S. In case Of fire, flood, pes
thence, storm or other public calamity
the City Of New Orleans shall have
power, by a two-thirds vote of all tns
members of the Commission Council, OF
it's successor as the governing body Of
said city, concurred in by a three
fourths vote Of all the members Of tht
Board Of Liquidation, City Debt, tc
borrow money and issue and negotiate
bonds in such sum. not exceeding Five