The Era-leader. [volume] (Franklinton, La.) 1910-current, 1916-09-14
CONSTITUTIONAL AMENDMENTS.
ACT NO. 4.
House Bill No. by Mr.. Byrne.
LII VI =, =. IL L-,L,L 4. -

tuition Of the State OF Louisiana pro-
a 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 |
ly. the issuance Of serial bonds by said !
city, the purpose for and the manner /,
III which same may be issued and the
"A duties and functions of the Board of I
Liquidation, City Debt, with reference
thereto, and the !eVylng by the City
or New orleans and the Board Of
School Directors, PAlsh Of Orleans, |
q respectively, Of certain taxes for gen
er1i municipal and school purposes;
q and providing for the submission OF
said amendment to the electors of the
State for their approval or rejection.
4 Be il enacted by the General Assembly
Z of the State Of Louisiana, Wo-thlrds of
Z Jail the members elected to each House
#:oncurring, that subject to the ratitca-
s ion and approval OF the electors Of the
State, the Constitution of the state be
3amended by incorporating therein the fol-
lowing provisions, to wit
4 Section |. The City OF New Orleans, by
a vote OF three-fOurths of all the members
iof the Board OF Liquidation, City Debt,
4 approved by resolution OF the Commission
Council, or It's successor as the governing
4 body Of said municipality, adopted by a
Vote OF two thirds OF all members OF said
council or governing body, shall! have
power ana is hereby authorized to issue
4 Nine Million Dollars ($9,UO0,000) OF bonds,
4 W NC sly ICu NIil bl New OllttllS ECCIIdl
Gold Bonds" and to bear such rate Of
interest as the Board of Liquidation, City
4 Debt, may Fix from time to time as each
installment Of said bonds is offered for
sale as hereinafter provided.
Section =. Three Million Dollars t$3,
100, O00), III par value, OF the bonds au-
thorized by Section | OF this amendment
shall forthwith be sold.
The proceeds of said three million
dollars of bonds shall be applied eXClu-
bslvely to the following purposes and IN
1 the following order:
(a) 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,
(b) The payment Of the principal Of the
floating Indebtedness OF the Board OF Dl-
reCtOrS OF the Public Schools, Parish of
Orleans, evidenced by note or notes out
standing at the time of the adoption OF
this amendment 10 an amount not cN-
ceedng Six Hundred and Fifty Thousand
Dollars $3.50, OO0); provided that, III the
event that said Indebtedness or any part
thereof shall have been paid by said
Board out of its current revenues pre-
Xious to the adoption of this amendment,
the amount thus paid mot to exceed $65O,-
900, 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 l$5O00O0l, with
interest thereon, borrowed by the City OF
New Orleans for storm emergency pur-
poses In the year 1915;
I'd 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-
ferred to in paragraph co OF this section,
/, to an amount not exceeding IN principal
and interest the sum Of One Million Three
/ Hundred and Fifty Thousand Dollars
! Isl, $50, 00O); and
(e) The balance of saio proceeds shall
be used and employed by the Board OF
A Liquidation, City Debt, for the payment
..tof Public improvement Certificates OF the
City of New Orleans, as set forth i'll
Section of this amendment
Section g.. The remainder OF the bonds
authorized by Section l Of this amend
4 ment, or so much thereof as may be
y necessary, shall be sold, from time to
4 time, in such amounts as the Board OF
4 I.iduidation City Debt, may determine,
and the proceeds OF the SAFE me mercer sat
Of Public Improvement Certificates au,
a thOriZed by Act No. 46 Of the General
i Assembly OF the State Of Louisiana for
a the year 1908, and acts amendatOry there,
of. and presently outstanding or ISSUED
n at any time in payment OF any contract
4 made before this amendment takes eHect,
Il at their respective maturities or when
q said maturities can be anticipated upon
II terms satisfactory to said Board.
Il Said Act No Sc of 1908 and all amend
a ments thereto, as we'll as all statutes upon
Il the same subject, and so much OF Acts
A No 12S and No. 2T0 of the General AS
4 sembly Of the State of Louisiana for the
81 year 1910 and other statutes on the same
~ subject matter, as may affect apply or
Spertain to the City of New Orleans, be
ID and the same are hereby repealed; never
II theless Public Improvement Ceruncates
3may be issued in the manner provided by
II said Act No. 56 of 1908, and amendments
"A thereof in payment OF any contract MADE
4 before this amendment takes effect
n Section i. The City of New orleans
a may also issue and negotiate us DondS
= when authorized by vote of majority
in number and amount OF the property
n taxpayers who shall have been assessed
81 for property in said city as shown by the
Blast assessment made prior to the submls-
- sion of the proposition 10 the Sald property
<4taXpayers and who are otherwise quaiineu
~ to vote under the Constitution ana la n'
+ of this State, voting at an election calleo
&#by ordinance adopted by a vote OF TWO
~ thirds of all the members OF the commas
"a sion Council or its successor as the gov
|M ernng body of said City Of New orleans
.& and which ordinance before any sucf
~ election is ordered shall be also adopted
IA by a vote of three-fOurths Of all the mem
IlH beers of the Board OF Liquidation, Guy
HI Debt Due notice of said election shall o.
Hi published for thirty days in the oflcla
NJ journal of said city -four weekly insertions
M of said notice constituting puhlcatiol
5.53 for thirty days, providing thirty days in
a# teryene between the date of the mrs
ri insertion and the date of said eleCuon);
No bonds shall be issued under tn
"A section for any other purpose or lor an
3# greater amount than stated III the SUB
]| mission of the proposition TO SAID taA
I'll payers. d. a>a ,,ost;
Nalence storm or other public calamity tn
&H CITY of New Orleans shall have power
N by a two thirds vote OF all the member
IN OF the Commission Council, or IT'S sue
II cessor as the governing body OF SAD C'tS
&@ concurred in by three-fOurths vote {
ali the members of the Board of Liquida
3 ton. City Debt, to borrow money an
;# issue and negotiate bonds IN sMCh sun
S}A not exceeding Five Hundred Thousall
~ Dollars ($50O,00O), as shall be heceSsaf
lin any one such emergency.
I& Sacfion 6. For the purpose of retundln
# all or any part Of the bonded lndepteahte,s
'N of the CITY of New Orleans existing at III
3A time of the adoption of this amendmen
I II bonds may from time to time pc ISSUE
k2A and negotiated When any OF the, ISSUE
of the bonds of said city outstanding
tho time of the adoption of this amend
"a ment shall become callable according
W their terms or the statutes under WhiG
thew are respectively issued, or when u
~ consent of all the holders OF any sue
| issue of bonds can be secured, tne BOA
of Liquidation, City Debt Shall nave u
La one or more of said issues OF bonds. ar
shall he authorized by resolution du
S ador,ted to issue and negotiate Donus
81 uroyide the funds necessary FOR I'M
'< purpose; providing, however, mat IN
event shall the par value OF IN sne DO opn vs,,