St. Landry clarion. (Opelousas, La.) 1890-1921, 1916-10-14

amendment $50.
authorized by and to be issued under
thts amendment shall be paid primarily
out of ~ that one-half of the su[p.us
of the one per cent debt tax whlcn heto-
toforS has been dedicated for the sup
port and maintenance of the public
schools Of said city. as levied unoer anu
authorized by Act No. ITO or the Gen
erai Assembly of the state or Louisiaha
made part Of the Constitution or eals
STATE. and (2), after January l., 1919:
that portion of the n per cent W. ny
tax, authorized and levied under ACT NJ.
10 aforesaid. and the two-m1ii tax aue
thor,zed by and levied under Act NO.
of the General Assembly of the STATE
of Louisiana for the year 1898 "naoi
shall have been released ffeso 1roan
dedication either by the calling ana re.
funding or the payment in due oourse
Of all or any part of the bonds exlstins
at the time Of the adoption OF us
amendment: provided that, II tne uaam
derived from the sources AFORESAID sna.I
be insufficient in any one year 70 pay
the principal and interest OF bonus
issued under this amendment ana Incl
outstanding and unpaid, OF II io annro.
priated to or available for such
the City of New Orleans shall 2
tax upon ali taxable property IN saiu
city sufficient to proyide TOT n maj
when the aforesaid n per cent dent
tsS and two mill water ana sewer rax
shall cease to % levied, the Clty 15
New Orleans shall levy q tax upon o..
to pay the principal and interest OF
said bonds as they respectively oecone
due. - 49,.
ali existing dedication and approprla-
lions of said n per cent debt az au'
thorized by said Act No 10 Of 1890 lex
cept with respect to the said one-natt
of the surplus of the one per cent oeDt
tax therein dedicated to public schoolsls
and of said two-mill water n ewe
tax, authorized by said Act NO: . OF
1899. shall be respected and periormsu
according to the prtorities by saio sta.-
utss established; that all Of that portion
Of the funds resulting from the levy OF
sal taxes which shall be released from
said appropriations and dedicatlons py
the payment, satisfaction or
of any of the bonded debt gat
now charged thereon and
shall, together with the one-half or the
surplus of the one per cent ueDt ta1
heretofore dedicated TO PUBIC schoe
purposes, be used and applied TO the
payment of the principal and interest OF
Ali bonds issued under this menomen
that any residue thereof remaining aaeer
the payment of the principal n inter.
est in any one year of bonds authorized
by this amendment shall be turned over
to the city of New Orleans, to be used by
It for general municipal put
when. and to the extent that, the obt!Sa-
tions now charged on said taxes shall pc
natd. satisfied or refunded, said taxes
shall be released from SAID oolle9siona
and, ultimately, when entirely released
and discharged. shall cease to De leviea;
and, that, thereafter, any and all a
issued under this amendment h pc
provided for by u tar upon all taxable
property in the City OF New orleans
sufhcient to pay the principal n IN
terest of said n as Lney TespeSS at ~
the event the funds h~ereinabove spscial-
principal and interest Of the bonds is.
insuficient, the City Of New Orleans
shall, and it is hereby required to, levy
in every such instance a tax upon all
taxable property In the City OF New Or.
leans necessary to pay the prlnctpaS
and interest of said bonds. .
Section 8. The principal and interest
of all bonds authorized BY this amend.
ment shall be payable In gold coin o.
the United States of America, or US
and hneness at the time Of the ssuanc
of each installment OF said bonds.
Said bonds shall DO exempt from all
taxation for State. parish. municipal OF
other local purposes.
Savings banks, tutors Of minors, curs-
tors OF i~nterdicts, trustees and other
nduciaries may invest the FUNDS in tnelE
hand in said bonds.
SalQ DONQS may p9 Q1C0 0SPNS1s
with n oficsr, board, municipality. or
other political subdivision of the State
of Louisiana in any case where by pres-
emit or future laws deposit or security ID
Said bonds may be registered and re-
leased from registry under such rules
as the Board of Liquidation. City Debt
may prescribe.
this amendment shall bear such rate OF
interest or, from time to time, different
| rates of interest, and shall. except al
herein otherwise specially provided. be
In such form, terms n denom1na1.ons
within q period Of pot exceeding ntty
years from the date thereof, as ths
Board Of Liquidation. City Debt, shall
determine. Said bonds snan be ISSUED
! annual installments. commencing mol
more than two years from their rsspec'
tive dates, and the fnstallment pay2ble
in a year h De so hxed that. wnsn
several annual total amounts OF prin'
| cipal and interest TO be paid shall %
' as nearly equal as practicable; provided
said installments may be fixed at nvs
| thousand dollars or the nearest multi
pie thereof.
said bonds shall be signed by IN.
| Mayor and the Commissioners OF Public
Finance of the City OF New Orleans. o.
countersigned by the President or Vic,
President and the Secretary or Assist
ant Secretary OF the Board Of Liquida
ton, City Debt, and the coupons at
tached to said bonds shall bear tn
sioner of Public Finance and said Sec
rotary or Assistant Secretary. In cas-
any such officer who's signatur
or counter-signature appears upol
s sess 4 10 0S Se SUCH q of sSaP0n be saa'
delivery OF said bond or coupoi
to the purchaser. such signature o
counter-Signature shall nevertheless .
valid for all purposes. The cost and ex
bonds shall be paid for by the Board Q
Liquidation, City Debt
Section II. ALI ponds issued unde
this amendment shall be sold by tn
Board of Liquidation. City Debt, to IN
highest bidder or bidders by sealed pro
posals after due advertisement Of no
less than five insertions in the oftlcia
journal Of the City of New Orleans (tn
first Insertion to be at least fifteen day
prior to the date of the salel, and sue
other advertisement, in said city Q
elsewhere, as said Board of L~iquidatto
may In it's discretion direct; provided
said Board of Liquidation may reJee
any and all bids.
Section 12. Except as otherwise pre-
yided in this amendment, the City c
New Orleans shall not borrow none.
issue bonds, notes or other evidences {
indebtedness or pledge its credit or ar
ticipate the collection Of n of il
taxes.
No money shall be drawn from n
treasury of said city without specff
appropriation therefor previously mad
nor shall said city make any contras
or incur any debt or obligation for an
purpose whatsoever unless suffcteT
funds, not otherwise appropriated. !
paw and discharge same are actually
the treasury of said city at the time {
making the contract or mourning Il
debt or obligation and are specihcail
set aside and dedicated to said purpos
unless herein otherwise provided. tn
foregoing limitation and restrictto
shall not apply or be held to apply !
contracts or obligation incurred wit
respect to the furnishing to said city {
light, heat or power, water, telepher
service or garbage removal or destru'
ton.
The said city ma in any caIends