The Natchitoches enterprise., 1916-09-07


existing at the time of the adoption o1
this amendment bonds may from time
to time be issued and negotiated. When
any Of the issues of the bonds Of sato
Sity outstanding at the time of the adop-
zion Of this amendment shall become
uallable according to their terms or the
statutes under which they are respec-
| lively issued. or when the consent OF
all the holders of any such issue OF
bonds can be secured the Board of Lii
quotation. City Debt. shall have tne
| right in it's discretion to call and pay
any one or more of said issues of bonds
md shall be authorized by resolution
duly adopted to issue and negotiate
bonds to provide the funds necessary
for that purpose; provided, however,
that in no event shall the par value OF
the bonds 50 sold and negotiated ex-
ceed the par value of the bonded IN
debtedness thereby to be refunded.
Section Z. The full faith and credit
of the City of New Orleans are pledged
for the payment of the principal and IN
terest Of all bonds issued under this
amendment
The principal and interest of all bonds
authorized by and TO be issued under
this amendment shall be paid primarily
Of the one per cent debt tax which here
tofore has been dedicated for the sup
port and maintenance of the public
| schools of said city. as levied under ana
| authorized by Act No. 110 of the Gen
| eral Assembly of the State of Louisiana
| for the year $780, and subsequently
i
| State. and (2), after January /, 1928,
| that portion of the one per cent debt
| tax authorized and levied under Act No.
| 10 aforesaid. and the two-mill tax au-
| thorized by and levied under Act No.
| Of the General Assembly of the State
| Of Louisiana for the year 1899 wnicn
shall have been released and freed from
| dedication either by the calling ana re-
| funding or the payment in due course
| of all or any part of the bonds existing
/ at the time of the adoption of this
| amendment; provided that. If the funds
| derived from the sources aforesaid shall
be insufficient in any one year to pay
the principal and interest OF the bonds
| Issued under this amendment and then
outstanding and unpaid or If for any
cause there shall not be funds appro-
priated to or available for such purpose,
the City of New Orleans shall levy a
tax upon all taxable property in SAID
city sufficient to provide for any such
deficiency; and provided further tnaL,
when the aforesaid one per cent debt
tax and two mill water ana sewer tax
shall cease to be levied, the City Of
New Orleans shall levy a tax upon all
taxable property In said city SUFFICIENT
to pay the principal and interest OF
said bonds as they respectively become
due
Section 8. It is hereby intended that
all existing dedication and appropria-
tions of said one per cent debt tax au-
thorized by said Act No 10 of 1890 eek
cept with respect to the said one-ha1f
of the surplus of the one per cent debt |
tax therein dedicated to public schools), |
and Of said two-mlIl water ana sewer |
tax, authorized by said Act No. Of |
1899, shall be respected and performed |
according to the priorities by said stat |
of The fInds raSrItinp from the law of |
said fares which sbaII he raIaa ead froy,1 |
said appropriations and dedications ny |
of ary of the bonded debt obiigations /
now charged thereon ana there's pa ynsr |
shall. toretber with the one-haIf ef fhe |
slIrni1Is Of the one ner cant daht Yar
herstoFore 7adjcstaS ~ nnhitc aoboo1
nurnoses he used and arnIiad to tne
payment of The princinaI ana interest Of
All bonds issled under tF1iz amendmeny.
the paynnent of the nrinninaI and tntsT-
est IN any one wear of borlie authorised
h1 This amer .Iy3e,,t shall he turned over
~ ~, s s.tf.r ~ Ns,sr f,-iaa,s ~ h,saS ~,
- 80 = g - p - y eSeu
~ = ~
s~ Il 4 III 60 I'M ~ N Il
pal9 t.snsu w 49, ts.ss
and, ultimately, when entirely released .
ano olscnaI seu, s1.aaa Sss,se - - eI, Sords
ana mat tnerss.eea, ~ ,,aot aa,u sbaT he
Nssus1 Nsss 9nlSi 49, ~, 81 I,,os -, taxabie |
provided for oy TAX upon IA al o1a 1ahaD.e
properly ~ the ILty o3 I New ~ Ia,
suI1lclet a ~ paS s tha1- raSnectivetv
t sersns u sss.u yotri5eg bn13AgeT that IN
necoIne Vue' plus psi itSn1-e saciaI
tne eEent tne tu.los ~ a.
~ ueaicaAea S s, t.ast tot az hands Is
s Pei s,,. .a-droert shoiJd Trove
sued nnoeI tIs S 1Ie
insufficient the city OF New OrIeans cans
sna1I, anu !. - ne.epy ,,r6 ali
n tt +, 1be e'ity f New Or
isIaa. r,baoasary - nav iha nrinnrnaf
M leans ts nscessaI ~ ~ - lPg Pag 'ne ip'A
ana lnteIss9 u 1,s1 ss'1 ;t,sot 5 ,r+a-ast
-, Sa,,s IttaPrtsad ia E,, fbis amanv
u NJ po1uS is = - - III -. raId coin of
the 11Ileu % 3eats tss 81 ,9da "a Of wetebt
~ ~ 4 tho tir,a of the iss,m9ce
sasiO ~ lestsst 2 tars. oF safd hnnds
y satd ia bonls shall he exempt from all
ta,~attov FoT. state narish municipal or
tsxatlon 9di ior 9Iaus psAiiSii'
ot1..,. rs ba,llS tutors of minors c1,ra-
tors Of interiicts, trustees ana other
sd,,cisrtes NAV invest the funds in their
no,,S n, eajd ian5s
. ca,d hordr NAV he usea for depnsit
,,;ss 1e4o a,g nfTjcer hoard n1lniciraIity or
ntber noIificaI siIbdivision of the State
IF T.o,Ssians in anv case where by pres
0I IL aenos,t ar sec,irftv 1s
raa,,irad
said bonds NAV be registered and re-
iassed from reristrv unde- such rules
as the Board of Liquidation, City Debt,
Section 10. All bonds issued under
thig amendment shall bear such rate or
interest or, from time to time, different
rates OF interest, and shall, except az
in such form, terms and denominations.
and payable at such times and places.
within q period OF not exceeding nrty
wears from the date thereof. as the
Board Of Liquidation, City Debt shan
determine Said bonds shall be issued
in serial form and shall be payable in
annual instaIlments, commencing not
more than two years from their respec-
tive dates, and the installment payable
in each year shall be so fixed that. when
the annual interest is added thereto the
several annual total amounts OF prin-
cipal and interest TO be paid shall De
as nearly equal as practicable; provided,
said installInents may be fixed at f1vs
thousand dollars or the nearest multi
pIe thereof.
aid bonos shall be signed by the
Mayor and the Commissioners Of Public
finance OF the City Of New Orleans, or