The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1916-10-14
CONSTITUTIONAL AMENDMENTS.
ACT NO. q
House Bill No. BY Mr. Byrne
JOINT RESQI IIfPI1iM -

ACT NO. a.
JOINT REsOLuToN
Proposing an amendment to the consti-
futon OF the state OF Louisiana pro-
ylding for: The funding of certain
debts Of the city of New Orleans and
OF the Board OF Directors OF the Public
schools, Parish of Orleans, respective
iy; the issuance of serial bonds by said
CITY, the purpose Tor and the manner
an which same may be issued and the
duties and functions Of the Board of
thereto; and the leyying by the City
OF New Orleans and the Board of
school Directors, Parish of Orleans,
respectively, of certain taxes for gem
efaI municipal and school purposes;
and providing for the submission of
said amendment to the electors of the
state Tor their approval or rejection.
Be 1t enacted by the General Assembly
Vi the State of Louisiana tWo-t thirds of
soncurring, that subject to the ratifica-
Aon ana approval of the electors of the
state, the CONSTITUTION OF the state be
amended by Incorporating therein the fol-
lowing provisions, to wit:
Section !. The City of New Orleans. by
vote Of three-fourths Of all the members
approved by resolution of the Commission
Council, or It's successor as the governing
soay OF said municipality, adopted by a
cote Of two-thirds of all members of said
council or governing body, shall have
power and is hereby authorized to issue
Nine Million Dollars (ss.o00.00O) of bonds,
Gold Bonds, and to bear such rate of
interest as the Board of Liquidation. City
Debt, may fix from time. to time as each
lnstallment OF said bonds Is offered for
sale as hereinafter provided.
Section 2. Three Million Dollars 49,.
700, 0e0), in par value, Of the bonds au
!, thor1zed by Section l of this amendment
Dshall forthwith be sold.
The proceeds OF said three million
dollars OF bonds shall be applied eAclu-
sively to the following purposes and in
The following order:
ta1 The payment of the outstanding and
unpaid school Teachers Salary Bonds of
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 Di-
rsgeors OF fhe ehoo as
stumbling at the the Of the adoptionSof
this amendment to an amount not ex,
Dollars ($650,000); provided that, in the
event that said Indebtedness or any part
thereof shall have been paid by said
Board out Of its current revenues pre-
vious to the adoption Of this amendment,
the amount thus paid (not to exceed $780,
900. however), shall be paid over in cash
TO said Board to be used by it Tor schooi
purposes, as provided by law;
(c) The payment of the sum OF FIVE
Hundred Thousand Dollars Ss50g, 0002 with
interest thereon. borrowed by the City OF
New Orleans for storm emergency puf-
poses in the year 1915,
(dl 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 Dy
them to said city. other than n; those e+ re- re
to an amount not exceeding IN principal
and interest the sum of One Million Three
Hundred and Fifty Thousand DoilarS
Isl, $50, 000(; and
te1 The balance of saio proceeds shall
be used and employed by the Board Of
Liquidation, City Debt for the paymaeean en- :
q Pu6 of a set forth
Section 8 of this amendment
section J.. The remainder of the BONDS ads
I1ent, or so much thereof as may be
necessary, shall be sold. from time to
time, in such amounts as the Board o.
Liquidation, City Debt, may, determine
ana the proceeds of the sale thereof shall
be applied by said Board to the payment
Of Public Improvement. Certificates au l,
Assembly of the State OF Louisiana for
the year 1905 and acts amendatory there
of, and presently outstanding or issued
made before this amendment takes effect,
at their respective maturities or, when
said maturities can be anticipated upon
Said Act No IS Of 1908 and all amend
ments thereto as well as all statutes upon
the same subject, and SO much OF ACTS u
sembly OF the State Of Louisiana for the
year 1910 and other statutes on the same
subject matter. as may aifect, Apply or
and the same are hereby repealed, never
theless Public Improvement Certificates
may be issued in the manner PROVIDED p y
thereof, in payment of any contract made
before this amendment takes effect.
Section l. The City OF New y ~ orleans heaas
when authorized by vote of majority
in number and AMOUNT Of the property
taxpayers. who shall have been assessed ts
last assessment made prior to the submls-
sion of the proposition to the said property
PAY 1 aRa T fhs "a ohafe and
of this State, voting ay an election caHed
by ordinance adopted by a vote OF two
thirds of all the members of the Gommls-
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 mem
bers of the Board Of Liquidation, CITY
Debt Due notice of said election shall be
published for thirty days in the official
of said notice constituting publication
for thirty days, providing thirty days IN
tsGvene between the date OF the first
@ertion and the date of said electlon).
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
0Section 5. In case of fire, flood, pesti-
lence, storm or other PUBLIC calamity, the
city of New Orleans shall have power,
by a two thirds vote of all the members
Of the Commission Council, or it's sue
cessor as the governing body of said city,
eonc1rred in BY three-fourths vote Of
all the members of the Board of Liquida-
ton, City Debt, to borrow money and
issue and negotiate bonds in such sum.
not exceeding Five Hundred Thousand
Dollars (s500000), as shall be necessary
in any one such emergency.
Section g. @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 Wh tS,a
they are respectively issued, or when the
consent of all the holders or any sucn
issue OF bonds can be secured, the BoaTa
of Liquidation, City Debt. shall have the
right In its 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
Ut the bonded Indebtedness thereby to be
e.aat;an r The f,1l1 faith and credit OF