New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1916-09-16
70 be voted on at tho Congressional Election

| f0Hfths OF all the members OF the Boa
p Of Liquidation. City Debt. Due not
u OF said election shall be publ he'd {
d thirty days in the official journal of SO
| city tour weekly insertions of said II
tice constituting publication for thlr
4 days, provided thirty days intervene h
d tween the date OF the first insertion a,
the date of said election)
f No bonds shall be issued under tn
. section for any other purpose OF for ar
greater amount than that stated in Il
submission of the proposition to sal
taxpayers.
| Section 5. In case of fire, foo
pestilence. storm other public calan
ty, the City of New Orleans shall hav
power, by two thirds vote of all th
members of the Commission Council, q
its successor the governing body q
said city, conourred in by three fourth
vote of all the members of the Board o
Liquidation. City Debt, to borrow none
and issue and negotiate bonds in sue
sum. not exceeding in any one sue
emergency.
Section &. For the purpose of re
funding all or any part of the bonde'
indebtedness of the City of New Orlean.
existing at the time of the ad ,pt;on o,
this amendment bonds may from tim,
to time be issued and negotia.rl. Wher
any of the issues of the bond, of said
city outstanding at the time of the adop-
ton of this amendment shall become cal
| liable according to their terms or the
statutes under which they are resp.c-
lively issued, or when the consent o! all
the holders of any such issue of bonds
can be secured, the Board of Liquida
ton, City Debt, shall have the right in
its discretion to call and pay any one
or more of said issues of bonds, end
shall be authorized by resolution duly
adopted to issue and negotiate bonds 10
provide the funds necessary for that pur-
pose; provided, however, that in no
event shall the par value of the bonns so
sold and negotiated exceed the par value
tf the bonds SO sold and negotiated ex-
coed the par value Of the bonded indeb.-
edness thereby to be refunded.
Section Z. The full faith and credit of
the City of New Orleans are pledged TO-
the payment of the principal and inter
est of all bonds issued under this amend
ment.
The principal and interest Of all bonds |
authorized by and to be issued under |
this amendment shall be paid primsrilv
put Of Q) that one-half of the surplus
Of the one per cent debt tax which here
tofore has been dedicated for the sup
port and maintenance of the public
'chools of said city, as levied under and
authorized by Act No. ITO of the Cen
'ral Assembly of the State of Louisiana
or the year 1890, and subseq uently
made part Of the Constitution of this
state, and t2), after January /, 1928.
hat portion Of the one per cent debt
Ak, authorized and levied under Act No.
10 aforesaid, and the two-mill tax au-
horized by and levied under Act No. 81
the General Assembly of the State of
for the year 1899 which shall
ave been released and freed from ded-
alton either by the calling and re-
inding or the payment in due course
all or any part Of the bonds existing
the time of the adoption of this I
nendment; provided that, If the funds I
,rived from the sources aforesaid shall d
insufficient in any one year to pay u
&c principal and interest of the bonds I
sued under this amendment and then o
ltstanding and unpaid, or If for any d
use there shall not be funds approp- o
tied to or available for such purpose. i,
e City of New Orleans shall levy a tar o
ION all taxable property in said city g
ifcient to provide for any such de- f,
iency; and provided further that, D.
len the aforesaid one per cent debt tax a,
d two mill water and sewer tax shall
'se to be levied, the City of New Or in
ms shall levy a tax upon all taxable ia
rperty in said city sufficient to pay .,
principal and interest of said bonds be
they respectively become due. &c
Section 8. II is hereby intended that ia
existing dedications and appropris ne
ms of said one per cent debt tax au- tn
rized by said Act No. ITO of 1890 Tex ev
It with respect to the said one-half of ab
surplus of the one per cent debt tax da
rein dedicated to public schools), and fir
said two-mill water and sewer tax. sal
horised by said Act No. s of 1899. in,
IL De respected and performed accord. of
to the priorities by said statutes es- ev,
lished; that all of that portion Of tn,
funds resulting from the levy of said pa
es which shall be released from said me
ropriations and dedications BY the or
menf, satisfaction or refunding of me
OF the bonded debt obligations now pa,
fged thereon and there against shall. ant
'ther with the one-half of the surplus ity
the one per cent debt tax heretofore spe
Gated to public school purposes. be sh,
and applied to the payment Of the paw
cipal and interest of all bonds ia be
under this amendment; that anv spe
Tue thereof remaining after the paw the
OF the principal and interest in the
one yesr of bonds authorized bv der
amendment shall be turned over to nici
City Of New Orleans to be used nv tia,
Or general municipal purposes: bu. prir
A. and to the extent that, the obi outs
ms now charged on said take. shall der
aid, satisfied or refunded, said taxes ever
be released from said obligations, en-
ultimately, when entirely released in ,
discharged. shall cease to be levied: shall
that, thereafter. any and all bond. and
d under this amendment shall be the
ded for by 4 tax upon all tax.ble Orle