The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1916-11-04

amount IN excess OF Five Miliion dollars
(s5, 600, 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 $4,000
under said Act No. of 1883 and the
IS, 900, 900 New Public Improvement Bonds
issued under Act No. 10 Of the General
Assembly Of the State of louisiana for
the year 1906, and acts amendatory there
of and supplemental thereto, as well as
such bonds, hereby or hereafter author
lied, into which the aforesaid bonds or
the 100000 Public Belt Railroad Bonds
authorized by Act No. 179 of the General
Assembly of the State of Louisiana for the
thorized for Public Belt Railroad pur-
poses. nor any bonds which may hereafter
be issued for water supply or for the
producing public utility, nor any paving
certificates primarily chargeable against
special assessments for street paving,
shall be included IN computing the ;ndebt-
this limitation; and provided further, that
emergency bonds may be issued as au-
thorized in Section 5 of this amendment
even though said limitation shall have
been reached: provided that the Nine Mil
lion Dollars of bonds authorized by Sec
ton of this amendment shall not be
SUBJECT 10 lIle umllatlOn nereln nXe0 at
the time or times that same shall be
issued; but, with respect TO any other
bonds that may be issued hereafter under
this amendment there shall be included
IN the computation said Nine Million
Dollars OF bonds, Notwithstanding the fact
that all of said Nine Million Dollars of
bonds shall not have been actually issued,
and such amount of emergency bonds as
may be then outstanding.
Section IL. The Board of Liquidation,
CITY Debt, as now organized and created
"a d. nwsl
prescribed by existing flaws 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 shall, day by day as collected,
be paid over TO said Board, and shall by
IT 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 the performance
authorized to do under laws existing at
the time of the adoption OF this amend
ment with respect to any Of the presently
outstanding bonds of said City of New
Orleans. All funds, property and things
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
y
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
rxyifh col
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
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
events levy for its general purposes such
additional tax which, when added to the
tax of six and one-half mills hereby
authorized and the taxes levied for the
payment OF the principal and interest of
its bonds as they severaily mature, shall
not exceed in the aggregate sixteen and
one-half mills.
Section Is. 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
the General Assembly of the State of
far as the fund so directed to be reserved
shall have been appropriated or dedicated
before this amendment takes effect to the
payment of any obligation of the City of
New Orleans, and said reserve fund OF
each year, when released from the obli-
cations charged against it by law and
because Of contracts, existing at the time
of the adoption of this amendment, shall
be used for general municipal purposes.
Section IL. For the support, mainte-
nance construction nc Jon and repair Of the
the Board of Directors of the Public
Schools. Parish of Orleans. or its legal
successor. shall levy annually such tax.
said Board shall deem necessary, which
levy shall be certified by said Board to
the Commission Council or other future
governing body OF the City Of New Or
entered upon the tax rolls of said city
according to law against all taxable
property in said city as assessed and
said tax shall be collected by said city and
paid over to said Boarl of Directors of the
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
1890 or other provisions of the Constitu-
ton of this State. All constitutional pro-
visions. to the contrary. as well as Act
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
shall have no power or authority to use
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
hereafter held by it under any special
legacy, bequest or donation made or to
be made directly to 1t for school purposes,
and shall carry out and execute the con-
ditions of all such special 1egacies, 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,
the Board Of Directors of the Public
Schools, Parish of Orleans, or its legal
successor. may levy upon all taxable
property in the City of New Orleans a
special tax not exceeding two mills on the
dollar of the assessed valuation of said
property. (Which special tax shall be in
excess of the tax authorized by Section IT
Of this amendmentl. wheneYer % in the