The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1916-10-28
CONSTITUTIONAL AMENDMENTS.
ACI NO. 4,

Proposing an amendment to the Consti-
tuition of the State of Louisiana pro-
viding for: The funding OF certain
debts of the city of New Orleans and
of the Board of Directors OF the Pupnc
Schools. Parish of Orleans, respective,
~; the issuance OF serial bonds py saLa
city. the purpose for and the manner
in which same may be issued and the
duties and functions OF the Board OF
Liquidation, City Debt, with In r zee Gitv
of New Orleans and the Board OF
School Directors, Parish of Orleans.
respectively. OF certain taxes lot gen
and providing for the submission OF
said amendment to the electors Of the
state for their approval or reJectipn.
Be IL enacted by the General Assembly
: VI the State of louisiana, two thirds OF
all the members elected to each House
soncurring, that subject to the ratincao
hon and approval OF the electors of the
state, the Constitution OF the state pc
amended by Incorporating therein the fol-
lowing provisions, to wit:
Section 1. The City of New Orleans, Dy
a vote OF three-fourths of all the members
OF the Board OF Liquidation, City Debt
approved by resolution OF the COMMISSION
Council, or its successor as the governing
,ody OF said municipality, adopted by a
cote of two-thirds OF all members OF said
sounciI or governing body, shall nave
power and is hereby authorized to issue
Nine Million Dollars tS9.o00,00oD OF BOMBS.
20 be styled CITY of New Orleans Serial
Gold Bonds and to bear such rate OF
Debt, may nix from time to time as each
instailment OF said bonds is offered for
sale as hereinafter provided.
Section 2 Three Million Dollars vs.
v0U, OOO), in par value, of the bonds au-
thorized by section l OF this amendment
shall forthwith be sold.
dollars of bonds shall be applied exclu-
slyeiy to the following purposes and IN
the following order;
(a) The payment of the outstanding and
unpaid school Teachers Salary Bonds OF
the City of New Orleans" issued under
Act No. of the General Assembly OF the
State or Louisiana for the year 1906, 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 Board Of Di-
rectors Iof the Public Schools. Parish of
Orleans, evidenced by note or notes out
standing at the time of the adoption OF
ceeding Six Hundred and Fifty Thousand
Dollars (s650. 000) provided that, in the
event that said Indebtedness or any part
thereof shall have 6ssa paa by
vious to the adoption of this amendment.
the amount thus paid mot to exceed $3.50,
900 however, shall be PAD ID oyer sor scboaI
purposes, as provided by law;
fc) The payment of the sum OF Five
Hundred Thousand Dollars gov, oo9l, with IN
New Orleans for storm emergency pur-
poses in the year 1915;
&u) lle payment OF tle ONefurdIt OF
other Indebtedness due by the City OF New
Orleans TO its fiscal agents or other banks
representing loans or advances made by
them to SAID city. other than those re-
ferred to in paragraph (c) Of this section,
to an amount not exceeding in principal
and interest the sum of One Million Three
Hundred ana Fifty Thousand Dollars
t$1. $50. 000); and
(e) The balance of saio proceeds shall
be used and employed by the Board OF
Liquidation. City Debt, for the payment
Of Public Improvement Certificates Of the
City of New Orleans, as set forth In
Section of this amendment
section s.. The remainder Of the bonds
authorized by Section L OF this amend
necessary. shall be sold, from time TO
Time. in such amounts as the Board of
Liquidation, City Debt. may determine,
be applied by said Board to the payment
of Public Improvement Certificates au,,
thorized by Act No. 46 of the General
Assembly OF the State of Louisiana for
the year 1908, and acts amendatory there
of. and presently outstanding or issued
at any time in payment Of any contract
MADE before this amendment takes effect.
at their respective maturities or when
said maturities can be anticipated upon
terms satisfactory TO said Board.
said Act No. 56 of 1908 and all amend
ments thereto. as well as all statutes upon
the same subject and so much OF Acts
No. lbs and No. go of the General As
year islo 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; never
theless Public Improvement Certificates
may be issued in the manner provided by
said Act No. 56 of 1908. and amendments
thereof. in payment of any contract made
before this amendment takes effect
Section 4. The City of New Orleans
may also issue and negotiate its bonds
when authorized by vote OF majority
in number and amount OF the property
taxpayers who shall have been assessed
for property in said city as shown by the
last assessment made prior to the submis-
sion of the proposition to the said property
taxpayers and who are otherwise qualified
to vote under the Constitution and laws
Of this State. voting at an election called
by ordinance adopted by a vote of two
thirds of all the members of the Commits
sion Council, or its successor as the gov
erning body of said City of New Orleans,
and which ordinance before any such
election is ordered shall be also adopted
by a vote of three fourths of all the men,
beers of the Board of Liquidation. City
Debt. Due notice of said election shall be
published for thirty days in the official
journal of said city -four weekly insertions
of said notice constituting publication
t terv sT between 1 the date Of the s first
insertion and the date of said election).
No bonds shall be issued under this
section op n or tho for
mission of the proposition to said tax
payers.
Section D. In case OF nre, HOOD, peStl-
lence, storm or other public calamity, the
city of New Orleans shall have power.
by two-thirds vote of all the members
Of the Commission Council. or its sue
cessor as the governing body of said city,
concurred in by a three-fourths vote OF
all the members Of the Board of Lquida-
ton. City Debt, to borrow money and
issue and negotiate bonds In such sum,
not exceeding Five Hundred Thousand
Dollars ($500.000), as shall be necessary
in any one such emergency.
Section 6. For the purpose of refunding
all or any part OF the bonded Indebtedness
. of the City OF New Orleans existing at the
time of the adoption of this amendment,
bonds may from time to time be issued
and negotiated When any of the issues
OF the bonds of said city outstanding at
the time of the adoption of this amend
ment shall become callable according to
their terms or the statutes under which
they are respectively issued, or when the
consent of all the holders of any such