The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1916-09-16

issued under the aforesaid Act Ne. % of
1914, or under subsequent legislation, shall
not at any one time be outstanding in an
amount in excess OF Five Million Dollars
| $50, 600, 000) in face value.
| Section IL. The total issue of bonds by
the City of New Orleans for all purposes
| shall never exceed ten per centum Of the
Ur ene neither In
bonds issued for water. sewerage and
drainage purposes (namely. the $4,000
under said Act No. of 1899 and the
| ss.000,0 900 New Public Improvement Bonds
| issued under Act No. Is of the General
the year 1906, and acts amendatory there
of and supplemental thereto, as well as
such bonds. hereby or hereafter author
lied. into which the aforesaid bonds or
any part thereof may be refunded), nor
the 100000 Public Belt Railroad Bonds
authorized by Act No. 179 of the General
year 1908, nor any bonds hereafter au-
thorized for Public Belt Railroad pur-
poses, nor any bonds which may hereafter
a ee ,ssned for 10 water supply or for the
producing public utility, nor any paving
| certificates primarily chargeable against
SPECIAL assessments for street paving.
edness of said City of New Orleans under
this limitation: and provided further, that
tbm oTisd bonds ra;on may be issued as au
even though said limitation shall have
been reached; provided that the Nine Mil
lion Dollars Of bonds authorized by Sec
ton OF this amendment shall not be
subject to the limitation herein fixed at
the time or times that same shall be
ISSUED ISSUED; but. with respect to any other
this amendment there shall be included
IN the computation said Nine Million
Dollars OF bonds, Notwithstanding the fact
that all of said Nine Million Dollars of
bonds shall not have been actually issued.
and such amount of emergency bonds as
may be then outstanding.
CITY Debt. as now organized and created
and with the powers, duties and functions
prescribed by existing laws and by this
bonds authorized by this amendment are
outstanding and unpaid; and all taxes
which may be levied for the payment of
SAID bonds SHAH, day by day as collected,
be paid over to said Board, and shall by
IL be applied in payment of the principal
and interest of said bonds; and said board
shali with respect TO all bonds authorized
by this amendment be entitled to exercise
all the rights and enforce the performance
OF an the obligations, the same as it is
the time of the adoption of this amend-
ment with respect to any of the presently
outstanding bonds of said City of New
of value held by the Board Of Liauidation'
City Debt, for bonded debt purposes other
than taxes now or hereafter levied and
pa yals no a Irnds property and things
Board under Act No. 1873 of the General
Assembly of the State of Louisiana for
the year 1880 and all amendments there
to-. shall when released from Contract
Obligations or dedicatioDs imposed by laws
existing at the time of the adoption of this
amendment be used and employed in the
discretion of said Board in payment and
retirement of any bonds of the City of
New Orleans then outstanding
section 10. For general municipal pur-
noses exclusive n no .r,I L..
tenance of the public schools and the pay
ment of the bonded debt of the City of
New orleans, said city may in each year
city tax not exceeding six and ene-half |
mills on the dollar of the assessed valua-
ton tn thereof; provided, however. that when |
said Act No. ITO Of 1890 and the two-miil |
water and sewer tax authorized by said |
Act No. of 1899 shall both have ceased |
levied by the City Of New Orleans in any
one year for bonded debt purposes be less |
than ten mills. said city may in such |
additional tax which. when added to the |
tax OF six and one-half mills hereby /
authorized and the taxes levied for the
payment OF the principal and interest Of |
its bonds as they severally mature, shall |
one-half mills.
per cent Of the revenues of the City OF |
New Orleans shall not hereafter be made
as directed by Section 40 of Act No. 159 Of /
the General Assembly OF the State of |
Louisiana for the year 1912, except inso-
far as the fund so directed to be reserved /
shali nave been appropriated or dedicated 1
DC x tins $, amendment takes effect to the
New Orleans. and said reserve fund Of |
each year, when released from the obli-
cations charged against it by. law and
because OF contracts, existing at the time |
OF the adoption of this amendment shall |
be used for general municipal purposes.
section IL For the support, mainte-
nance, construction and repair of the
PUBLIC schools in the City of New Orleans,
the Board Of Directors of the Public
Schools, Parish of Orleans. or its legal
successor shall levy annually such tax, |
not exceeding three and one-half mills as
said Board shall deem necessary, which
levy shall be. certified by said Board to
governing. body OF the City of New Or
leans, which shah cause the tax to be
entered upon the tax rolls of said city
property in said city as assessed and
valued for city taxation purposes; and
sad tax shall be collected BY said city and
paid over to said Boarl of Directors OF the
Public Schools, Parish of Orleans. day by
lay as collected.
Said tax shall be in lieu of all taxes
,r directed to be levied or contributed by
he City of New Orleans for public school
purposes. either by said Act No. 10 OF
ion of this State. Ali constitutional pro-
visions to the contrary. as well as Act
No. 262 of the General Assembly Of the
state of Louisiana for the year 1914,
'atified as an amendment to the Consti-
ution OF this State, are hereby abrogated
md repealed; and the City of New Orleans
hail have no power or authority to use
,r employ any Of its taxes or funds for
he establishment, support or maintenance
u the public schools, directly or indirect-
y, except as herein authorized: provided.
however, that the City of New Orleans
mall administer, use and employ all the
hereafter held by it under any special | !
egacy. bequest or donation made or to ]
'e made directly to it for school purposes, /,
Iitions of all such special leeacies. be-
uests or donations that have been here
ofore made to and accepted by said City /.
4 New orleans and all such as may here
fter be made to and accepted by said city.
Section. IS. For the purpose of giving :