The Era-leader. [volume] (Franklinton, La.) 1910-current, 1916-10-26
CONSTITUTIONAL AMENDMENTS,
ACT NO. 4.
ACT NO. z.
House Ell! No. 4-Ey Mr.. Byrne.

VIulNS Tor: he funding OF certain
debts Of the City OF New Orleans am
OF the Board OF Directors Of the Public
Schools, Parish Of Orleans respective
~; the ISSUANCE OF serial bonds by sail
city, the purpose for and the manne
III which same may be ISSUED and tn,
duties ana functions Of the Board @
Liquidation City Debt, with referenc,
thereto, and the levying by the Cit.
OF New Orleans and the Board O
school Directors. Parish OF Orleans
respectively, of certain taxes for gen
eiai municipal and school purposes
ana providing for the submission O
sad amendment to the electors of tn,
state Tor their approval or rejection
lie it clacteh by the General Asscmbl.
ol The state OF louisiana, two thirds o
:oncurrIls. that subject to the ratitica
iiOn ana approval OF the electors OF thu
State, the Constitution of the State bt
amended by Incorporating therein the fol
lowing provisions, TO wit:
section l. The City OF New Orleans, by
vote OF three-tourths OF all the member:
Of the Board OF Liquidation, City Debt
approved by resolution OF the Commission
Council, or It's successor as the governing
body OF SAID municipality, adopted by /:
vote OF two Thirds OF all members of sale
council or governing body, Shall have
power ANA is hereby authorized to issue
Nine Million Dollars (<3,VUU, UUO) OF bonds
to be styled City OF New Orleans Seria
Cold Bonus, ana TO bear such rate Of
interest as The Board of Liquidation, City
Debt. may fix from time TO time as cacl
ihstallnent Of said bonds is offered fol
sale as hereinafter provided.
Section 2. Three Million Dollars (s3,
voo, o00), IN par value, of tho bonds au-
thOrlZeu ~ section l OF this amendment
shall forthwith be sold.
me proyeeus OF said three million
dollars OF bonds Shall be applied exclu-
s!Vel' to the following purposes and il
the following order:
(a) The payment Of the outstanding anG
unpaid School Teachers Salary Bonds OF
the City OF New Orleans, issued under
Act NO. 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:
90 The payment Of the principal Of the
floating indebtedness OF the Board OF Di-
rectors OF the Public Schools, Parish OF
Orleans, evidenced by note or notes out
standing at the time of the adoption OF
this amendment to an amount not ex-
ceeding Six Hundred and Fifty Thousand
Dollars, ($65O,OoO); provided that, in the
event that said Indebtedness or any part
thereof shall have been paid by said
Board out Of its current revenues pre-
vious to the adoption of this amendment,
the amount thus paid mot to exceed $3.50.
600. however, shall be paid over in cash
10 said BOaru to be used by it for school
purposes. as provided BY law;
(c) The payment OF the sum OF Five
Hundred Thousand Dollars $500, 000), with
interest thereon, borrowed by the City OF
New Orleans for storm emergency pur-
uoses in the year 1915;
(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 (c) of this section,
10 an amount not exceeding in principal
and interest the sum OF One Million Three
Hundred and Fifty Thousand Dollars
($1.35O, OOO): and
(e) The balance OF saio proceeds shall
be used and employed by the Board Of
Liquidation, City Debt, for the payment
OF Public improvement Certificates Of the
City Of New Orleans, as set forth in
Section of this amendment
authorized by Section ! of this amend
ment, 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;
anu the proceeds Of the sale thereof shall
be applied by said Board to the payment
of Public Improvement Certificates au..
thorized by Act No. 46 OF the General
Assembly OF the State OF Louisiana for
the year 1908, and acts amendatory there,
of, and presently outstanding or issued
at any time in payment Of any contract
made before this amendment takes effect,
at their respective maturitles or, when
said maturitles can be anticipated upon
terms satisfactory to said Board:
Said Act No. st Of 1905 and all amend
ments thereto, as well as all statutes upon
I the same subject, and so much of Acts
No. 1928 and No 270 of the General AS
sembly OF the State Of Louisiana for the
year 1910 and other statutes on the same
pertain TO the City OF New Orleans be
and the same are hereby repealed; never
theless Public Improvement Certificates
may be issued in the manner provided ny
said Act No. sc OF 1908, and amendments
thereof, in payment OF any contract made
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
4 for property in said city as shown by the
Z last assessment made prior to the submits
sion OF the proposition to the said property
taxpayers and who are otherwise qualified
to vote under the Constitution and laws
Of this State, voting at an election called
by ordinance adopted by a vote Of two
thirds Of all the members Of the Commits
sion Council, or its successor as the gov
erning body of said City of New Orleans.
and which ordinance before. any such
election is ordered shall be also adopted
q by vote of three-fourths of all the mem
bers of the Board of Liquidation, City
Debt Due notice of said election shall be
published for thirty days in the ofilclai
journal of said city -four weekly insertions
Of said notice constituting publication
for thirty days proyldng thirty "a gays en- IN
insertion and the date of said election):
M No bonds shall be issued under this
section for any other purpose or for any
greater amount than stated in the sub
mission of the proposition to said tax
payers. =, o,ro # fro aood nesti-
%lence. storm or other public calamity the
City of New Orleans shall have power,
by twot thirds vote OF AL the members
of the Commission Council, or its sue
cessor as the governing ooay 81 sa,a at c't ~
ali the members of the Board Of Liquida-.
ton, City Debt, to borrow. money and
issue and negotiate bonds in suCh sum;
mot exceeding Five Hundred Thousand
Dollars ($500.0o0), as shall be necessary
in any one such emergency.
Section 6. For the purpose of refunding
all or any part OF the bonded Indebtedness
Z Of the City of New Orleans existing at the
time of the adoption of this amendment,
bonds may from time to time De ISSUED
Of the bonds OF said city outstanding at
! the time of the adoption OF this amend
4 ment shall become callable according to
2 their terms or the statutes under which
: they are respectively issued, or When tne
{ consent of all the holders OF any such
OF liquidation, City Debt, shall have the
right In its discretion to call and pay any
y one or more of said issues Of bonds. ana
{ shall be authorized by resolution duly
adopted to issue and negotiate bonds, to
provide the funds necessary. for that
event shall the par value Of the bonds SO
Z sold and negotiated exceed the par value