The Caldwell watchman. (Columbia, La.) 1885-1946, 1916-11-03

funds, not otherwise appropriated, TO
pay and discharge same are actually in
the treasury OF said city az the time OF
making the contract or mourning the
debt or obligation and are Specifically
set aside n dedicated to said purpose,
unless herein otherwise provided. The
foregoing limitation and restriction
shall not apply or DO held TO apply to
contracts or obligation incurred with
respect TO the furnishing to said city or
light, heat or power. water, telephone
service or garbage removal or destrucs
ton.
The said city maj in any calendar
year In anticipation OF the collection Of
the taxes Of such calendar year. and for
the purposes for which such taxes arc
levied, borrow such sums as shall not
be in excess OF the amount OF It's un-
collected taxes OF such year. and may
issue its notes or other evidences OF
Indebtedness therefor, and such sum,
notes or other evidences of indebted
ness shall be payable only out of the
taxes OF the calendar year In which said
| loan or loans are first made, and for
which indebtedness said revenues shall
be pledged. and said Indebtedness Shall
not be payable out Of Any other funds
or moneys whatsoever No money shall
be borrowed by the said city except FOR
current municipal purposes. and in no
event shall any money be borrowed by
| Salu CITY 10 make VI ~ pdy LOT WOTks
of public Improvement. Said city may
issue for street paving purposes certif-
Gates on it's faitn and credit pursuant to
legislative authority, to an amount not
in excess of any special assessments
which nave been or shall be made for
such purposes. Such paving certificates
hereafter issued shall be chargeabie
primarily against the special assess
ments in respect OF which they are Is
sued, and s~ecundarily against the reve-
nueS of the city of New Orleans derived
from taxation for general municipal
purposes and from sources other than
the taxes for the payment CT the princl-
pal and interest OF the bonds how out
standing or hereafter to be issued uu-
der this paving certificates onlv in the
event and TO the extent that sucn
amendment, which reVnues Shall be ap-
piled in payment Of such special assess-
ments shall he insufficient for such pay
ment, and reimbursement shall be made
TO the general funds OF the City OF New
| Orleans when the assessments are col
lected 10 the extent OF the amount that
the said general FUNDS shall have con-
tributed TO the payment aforesaid. So
much of Act No. % Of the General As
sembly OF the State Of Louisiana for the
year 1914 as may be inconsistent here
with is hereby repealed. and hereafter
no paving certificates shall be issued
upon the pledge OF the reserve fund of
| the city of New Orleans. but such GER
tiflCates shall be secured as herein and
otherwise provided for by seid act or
subsequent legislative authority no, III
conIlct herewith; provided, however
that paving certificates, for which the
faith and credit Of the City Of New Or
leans shall be pledged, whether issued
under the aforesaid Act No. % of 1914,
or under subsequent Legislation. shall
not at any one time be outstanding in
an amount in excess of Five Million
Dollars (s5. 600, o0O) in face value.
Section 10. The total Issue OF bonds
by the City OF New Orleans for all pur-
poses shall never exceed ten per centum
Of the assessed valuation of the proper
ty in said city provided, however. that
neither the bonds ISSUED for water,
sewerage and drainage purposes (namp-
~, the sl2 900, 600 Public Improvement
Bonds issued under said Act No. of
lie Improvement Bonds issued un-
der Act No. 19 OF the General
Assembly of the State OF Louisiana
for the year 1906, and acts
amendatory thereof and supplemental
thereto. as well as such bonds, HEREBY
or hereafter authorized. into which the
aforesaid bonus or any par Thereof may
Belt Railroad Bonds authorized BY Act
No. l7a of the General Assembly Of the
State of Louisiana for the year 1908.
nor any bonds hereafter authorized for
Public Belt Railroad purposes. nor any
bonds which may hereafter be issued
for water supply or for the acquisition
or construction OF any revenVeyRxoduc-,
Ing public utility. nor Apy paxlA9 .tE&af4
Gates primarily chargeable against syez
cial assessments for street paving, shall
be included in computing the indebted
ness Of said City of New Orleans under
this limitation: and provided further.
that emergency bonds may be issued as
| authorized in Section 5 Of this amend
ment even though said Limitation shall
have been reached provided that the
Nine Million Dollars OF bonds authorized
by Section l Of this amendment shall
Iot be subject to the limitation herein
fixed at the time or times that sama
any other bonds that may be issued
hereafter under this amendment there
shall be included in the computation
said Nine Million Dollars Of bonds, NOT
withstanding the fact that all Of said
Nine Million Dollars Of bonds shall not
have been actually issued. and sucn
amount of emergency bonds az may be
then outstanding.
Section IA. The Board Of LiuuIna-
ton, City Debt, as now organized and
created with the powers, duties ana
functions prescribed by existing laws
and by this amendment, shall be con-
tinued while any bonds authorized by
this amendment are outstanding and un-
paid; and all taxes which may be levied
for the payment OF said bonds shall. day
by day as collected. be paid over to said
Board, and shall by it be applied in pay
ment Of the principal and interest OF
said bonds: and said board shall with
respect to all bonds authorized by this
amendment be entitled to exercise ali
the rights and enforce the performance
of all the obligations, the same an il is
authorized to do under laws existing at
the time or the adoption of this amend
ment with respect to any of the present
ly outstanding bonds Of said CITY or
New Orleans, All funds, property and
things of value held by the Board Of LII
quotation. City Debt. for bonded dept
purposes other than taxes now or here
after levied, and particularly all funds,
property and things of value now or
hereafter held by said Board under Act
No. 1873 Of the General ssembly of the
state or Louisiana for the wear 1870
and all amendments thereto. shall when
released from contract obligations or
oedlcatlons imposed by laws existing az
.ne tlme or me adoption of this amend
tnent be used and employed in the dis
creation of said Board in payment and
retirement OF any bonds Of the CITY or
New Orleans then outstanding.
Section IS. For general municipal
purposes exclusive of the support and
maintenance G. the public schooIs ana
the payment of the bonded debt of the
olty or New Orleans, said city may in
each year levy upon all taxable property
within said city a tax not exceeding
SIX and one-half mills on the dollar Of
the assessed valuation thereof: nro-
vlded, however, that when the one per
cent debt tax authorized by said Act No.
no or 1890 and the two mill water and
sever TAX authorized by said Act No. s