The Donaldsonville chief., 1916-10-21
CONSTITUTIONAL AMENDMENTS.
NOT No. q.
ACT NO. a
House Bill No. by Mr.. Byrne.

ACT NO. 4.
House Bill No. by Mr.. Byrne.
JOINT RESOLUTION
E,ronosing an amendment to the Gonsti-
tuition OF the state OF Louisiana pro-
yidine for: The funding of certain
debts Of the CITY OF New y QrieaHs tta g., hna hia
schools, Parish OF Orleans, respective.
": the issuance of serial bonds by said
city, the purpose Tor ana tne InAnnsI lI
in which same may be issued and The
duties and functions of the Board OF
Liu1lidation, City Debt, with reference
thereto; and the levying by the Clty
of New orleans and the Board OF
school Directors, Parish OF orleans,
respectively, of certain taxes for gen
eraI municipal and school purposes,
said amendment to the electors or the
state for their approval or re1ection.
Be it enacted by the General Assenply 5li y
all the members elected to each House
eoncurring. that subject to the ratlhca-
Aon and approval OF the electors o. the ne
state, the Constitution OF the state Pc
amended by Incorporating therein the foi-
lowing provisions, to wit:
section !. The City OF New Orleans, py
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 q
cote OF two-thirds OF all members OF said
council OF governing body, shaA nave
power ana is hereby "a authorlzed dho rHa to issue
EST1sSUotooSt "
10 be styled city of New Orleans Serial
Gold Bonds and to bear such rate OF
interest as the Board of Liquidation, CITY
Debt may fix from time to time as each
install1nent OF said bonds is offered Tor
sale as hereinafter provided 80
section 2. Three Million Dollars l$s,-
Ghetaseai ohorized BY BY Section Of this amendment
shall forthwith be sold.
The proceeds OF said three million
dollars Of Donus shall be applied exclu-
siyaiys f8 fhp following PURPOSES anu IN
(al The payment of the outstanding and
the City OF New orleans" issued under
Act No. 2 Of the General Assembly OF the
state OF Louisiana for the year 1906 which
bonds shall be called for payment and
paid as soon as practicable;
tb) The payment Of the principal OF the
floating indebtedness of the Board OF Dl-
rectors of the Public Schools, Parish or
Orleans, evidenced by note or notes out
standing at the time of the adoption OF
this amendment to an amount not ex,
ceeding Six Hundred and Fifty Thousand
Dollars ($650, ,000); provided that, in the
event that said Indebtedness or any part
thereof shall have been paid by said
yious to the adoption of this amendment,
the amount thus paid mot to exceed $780,
600. however,. shall be paid over in cash
TO said Board to be used by it for school
purposes as provided by law;
(c) The payment of the sum OF Five
Hundred Thousand Dollars lsa0o, ,0O0l, with
New Orleans for storm emergency pur-
poses in the year 1915;
td) The payment of the overdraft or
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-
10 an amount not exceeding IN principal
and interest the sum of One Million Ihree
Hundred ana Fifty Thousand Dollars
lS1.350 000ls and
Tr,f.. SzrTarsIl
be used and employed by the Board OF
Liquidation City Debt, for the payment
of Public Improy cement 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 Of this amend
necessary. shall be sold, from time to
time, III such amounts as the Board of
Liquidation, City Debt, may determine,
anu the proceeds Of the sale thereof shall
be applied by said Board to the payment
of Public improvement Certificates au-.
lhorized 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
at their respective maturittes or when
said maturitfes can be anticipated upon
terms satisfactory to said Board;
ments thereto as well as all statutes upon
the same subject, and so much of Acts
No. 12S and No. 2TG of the General AS
year is1o and other statutes on the same
subject matter, as may affect, apply or
pertain to the City of New Orleans, be,
theless Public Improvement Certificates
may be ISSUED in the manner provided by
said Act No. So of 1908, and amendments
haeae tnsreef IN u payedna o. any aet mace
Section 4. The City of New Orleans
may also issue and negotiate It's bonds
when authorized by a vote of a 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
by ordinance adopted by a vote of two
thirds of all the members of the Conmis-
sion Council, or its successor as the gov
erning body Of said City Of New Orleans,
election is ordered shall be also adopted
by a vote of three-fourths of all the MEM
ass pers Of the Beard d Of Gtg
published for thirty days in the official
journal of said city -four weekly insertions
OF said notice constituting a publication
tefvene between the date of the first
insertion and the date of said electionl.
No bonds shall be issued under this
section for any other purpose or for any
greater amount than stated in the sub
mission Of the proposition to said tax
payers.
lance, storm or other public calamity the |
city of New Orleans shall have power, |
by a twe-thirds vote of all the members
Of the Commission Council, or it's sue
cessor as the governing body of said city, |
concurred in by a hree-fourths vote of |
all the members of the Board of Liduida- |
tion, City Debt, to borrow money and |
issue and negotiate bonds in such sum, |
not exceeding Five Hundred Thousand |
Dollars {s500, ,000l. as shall be necessary
III any one such emergency.
Section g. For the purpose of refunding |
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 I
the time of the adoption of this amend
ment shall become callab1e according to |
their terms or the statutes under which |
they are respectively issued, or when the /
consent of all the holders of any such |
issue OF bonds can be secured, the Board |
of Liquidation City Debt shall have the
right in it's discretion to call and pay any
one or more OF said issues of bonds, and
shall be authorized by resolution duly
adopted to issue and negotiate bonds to
provide the funds necessary for that
purpose; providing, however, that in no
event shall the par value of the bonds so
sold and negotiated exceed the par value
bf the bonded Indebtedness thereby to bel
refunded
Section Z. The fun faith and credit of
the City OF New Orleans are pledged for
b~nj