St. Landry clarion. (Opelousas, La.) 1890-1921, 1916-09-23
PROPOSED
AMENDMENTS
TO THE
CONSTITUTION OF LOUIS
lana
Adopted at the Session OF the
Legislature of 1916.
-
TO Be Voted On at the Congress
sionai Election.
------
Act No. a

tuition Of the State of Louisiana pro-
viding for: The funding of certain
debts of the City of New Orleans ana
of the Board of Directors of the Pub
lie Schools, Parish of Orleans, re-
spectiyely the sua of serial bonds
by said city, the purpose for and the
manner in which same may be ISSUED
and the duties ard functions OF the
Board Of Liquidation, city Debt, with
reference thereto; and the leVylng by
the city of New Orleans and the
Board Of Schoo Directors, Parish of
Orleans, respectively, of certain taxes
for general municipal and school pur-
poses; and providing for the submits
tors of the State for their approval
or rejection.
Be 1T enacted by the General Assem-
bly, of the State of Louisiana, two-thiros
of all the membe elected to each mouse
roncurring, that subject to the ratifica-
ton and approval of the electors or
the State, tile Constitution of the State
be amended by incorporating thereln
the following provisions, to-Wit
Section /, The City of New Orleans,
by a vote of three-fourths of all the
members of the Board of Liquidation
City Debt. approved by resolution or the
Commission Council, or It's successor as
the governing body of said municipality
adopted by a vote of two-thfrds OF all
the members of said council or govern
ing body, shall have power and Is here
By authorized to issue Nine Million Dol
ffrs ($9, 900, 000) of bonds, to be styled
CITY Of New orleans Serial Gold
Bonds" and to bear such rate OF inter
est as the Board OF Liquidation. Clty
Debt. may fix from time to time as each
installment Of said bonds is offered Tor
sale ais hereinafter provided.
Section 2. Three Million Dollar (S3.-
900, 800l, In par value, Of the bonds au.
thorized by Section l Of this amendment
shall forthwith be sold.
The proceeds of said three million
dollars of bonds shall be applied exclu-
siyely to the following purposes and In
the following order:
(a) The payment of the outstanding
and unpaid School Teachers Salary
Bonds OF the city of New Orleans" is
sued under Act No 2 of the General AS
sembly of the State of Louisiana ror
the year 1906, which bonds shall be
called for payment and paid as soon as
practicable;
(b) The payment of the principaI OF
the floating. indebtedness Of the
lie schools, Parish of Orleans
evidenced by note or notes out
standing at the time of the adoption
of this amendment to an amount ne
exceeding Six Hundred and Fifty Thou
sand Dollars $3.50, 000); provided that
In the event that said Indebtedness or
any part thereof shall have been paid
by said Board out of Its current reve-
j amendment, the amount thus paid mot
to exceed $650,000, however,, shall be
paid over in cash to said Board to be
used by 1t for school purposes. as pro-
IcJ The payment Of the sum OF Five
Hundred Thousand Dollars l$509 0001.
with interest thereon, borrowed by the
City of New Orleans for storm emergen-
cy purposes in the year 1915;
Cd The payment of the oyerdraft or
ether Indebtedness due by the City of
banks representing loans or advances
made by them to said city. other than
those referred to in paragraph (c1 or
this section, to an amount not exceed
OF One Million Three Hundred and Ffr-
~ Thousand Dollars f$1,350, 000); n
Gel The balance OF said proceeds
shall be used and employed by the
Board OF Liquidation, City Debt. for the
payment OF Public improvement Certif1-
Gates Of the City of New Orleans, as set
forth In Section 8 OF this amendment
section 8. 1he remainder of the
bonds authorized by Section / of this
amendment, or so much thereof as may
be necessary, shall be sold, from time TO
time, In such amounts as the Board OF
liquidation, City Debt, may determine.
and the proceeds of the sale thereof
shall be applied by said Board to the
payment of Public Improvement Certifi-
Gates authorized by Act No, Sc of the
General Assembly of the State of Louis
fana for the year 1908, and acts amenda-
tory thereof, and presently outstanding
or issued at any time in aymen OF
any contract made before this amend
Eaent takes effect, at their respective
rnaturities or when said maturities can
be anticipated upon terms satisfactory
TO said Board.
amendments thereof, as well as all stat
utes upon the same subject, and so
much of-Acts No. 12S and NO 270 of
the General Assembly of the State or
Louisiana for the year 1910. n other
statutes on the same subject matter. as
may affect. apply or pertain to the City
of New Orleans, be and the same are
hereby repealed; nevertheless Public
Improvement Certificates may be issued
in the manner provided by said Act No.
Sc of 1908, and amendments thereof. in
payment of any contract made before
his amendment axes effect.
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
submission of the proposition to the
said property taxpayers and who are
otherwise qualified to vote under the
Constitution and laws or this State.
voting at an election called by ordinance
adopted by a vote of two-thirds of all
the members of the Commission Coun-
ell. or it's successor as the governing
body of said City of New Orleans, and
which ordinance before any such cleo
tion is ordered shall be also adopted by
n vote Of three-fourths of all the mem
hers of the Board Of Liquidation. City
Debt. Due notice of said election shall
be published for thirty days in the Off
ciaI journal of said city flour weekly
Insertions OF said notice constituting a
publication for thirty Gays, provided
thirty days intervene between the date
of the first insertion and the date of
said ~elecuon).
No bords shall be issued under this
section for any other purpose or for
any greater amount than that stated IN
the submission of the proposition to
said taxpayers.
Section s. In case of fire. flood, pes
tilence. storm or other public calamity,
the City or New Orleans shall have
power, by a two-thirds vote of all the
msmbe of the Commission Council, or
its successor as the governing body of
said city. c~oncurred IN by q three
fourths vote OF all the members of the
Board of Liquidation, City Debt, to
borrow money n issue and negotiate
bonds in such sum, not exceeding Five
Hundred Thousand Dollars ($500, GOOD,
as shall be necessary in any n such
Section s. For the purpose of re-
Funding all or any part of the bonded
indebtedness of the City of New Orleans
existing ut 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 aaoh-
tfen of this amendment shall become
caliable according to their terms or the
statute 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 nave tne
right in its discretion TO call and pay
any one or more of said issues of bonds,
and shall be authorized by resolution
Gnlv adopted to issue and negotlate
bonds to provide the funds necessary
far that purpose; provided, however,
that In no event shall the par value OF
tha bonds 50 sold and negotiated ex-
eeed the par value of the bonded IN
aebtedness thereby to be refunded.