The Natchitoches enterprise., 1916-09-28

or incur any debt or O5Iigauon IOr kHy
purpose whatsoever unless sUt1clent
funds, not otherw sc approPria ted. to
pay and discharge same are actually IN
the treasury OF sail city at the time OF
making the contract or incurTinE the
debt or obliE; ton and are S1ec-icaliy
set aside and defeated to said purpose
unless herein otherwise DroTiled. Inc
fore going limitation and restriction
contracts or obligation incurred with
respect to the furnishing to said city or
light heat or power, water telephone
service or garbage removal or destruc-
ton.
The said city may in any calendar
year III anticipation of the collection or
the taxes of such calendar year, and Tor
the PURPOSES Tor which such taxes are
levied. borrow such sums as SHAH NOT
3e in excess OF eAe amount Of it's un-
collected taxes of such year. and may
sSfe its notes or other evidences OF
.IICEtedness therefor. and such sum,
notes or other evidences of Indebted
ness sirall be payable only out OF the
taxes of the caleTdar year in which said
loan CT loans a:e FRS maze. anu TOT
which Indebtedness said revenues shall
be pledged, and said !nGoota ness snail
not be payable out of any other IurGs
or moneys whatsoever No money snail
be borrowed by the said city except Tor
current municipal purposes, ana in no
event shall any money be borrowed by
said city to make or to pay for WOrks
of public improvement Said city may
issue for street paving purposes certln-
Gates on it's fa1La and credit pursuant TO
legislative authority. to an amount not
in excess of any special assessments
which have been or Shall be made Tor
such purposes. Such paving certificates
hereafter ISSUED shall be chargeable
primarily against the special assess
ments in respect OF which they are is
sued, and secOndarily 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 OF the prlnci-
pal and interest Of the bonds now out
. standing or hereafter to be issued un-
der this paving certificates only in the
event and to the extent that such
amendment which revnues shall be ap-
piled in payment of such special assess
ments shall he insufficient for such pay
tneEt. an reimbursement shall be made
to the general funds of the City of New
Orleans when the assessments are col
iected to the rXtert Cf the amount that
the said general funds shall have con
tributed to the payment aforesaid. SC
much of Act No. 23 of the General AS
sembly of the State of Louis ana 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 or
the City of New Orleans, but such GER
tificates shall he secured as herein and
otherwise provided for by said act or
subsequent legislative authority not III
eonlict herewith; provided, however,
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 ($5,0O0O00 in face value.
Section 49, The total issue of bonds
by the City of New Orleans for all pur-
boses shall never exceed ten per centum
Of the assessed valuation Of the proper
~ in said city provided. however, that
neither the bonds issued for water,
sewerage and drainage purposes (name-
ty. the $4,000. GOO Public Improvement
slones issued Under said Act No of
1899 and the sS,000.000 New Pub
tic Improvement Bonds issued un-
der Act No 10 of the General
Assembly of the State Of Louisiana
amendatory thereof ana supplemental
thereto, as well as such bon Is herecy
or hereafter authorized into which the
Sc refundedJ. nor the $2.00U.0uO Public
fBplt saRRaaH 2ondH aRthorized by Act
Sfafe of FSonie4afa for 8HN Yf4 18*
Public Belt Railroad purposes. nor any
bonds which may hereafter be issued
for water supply or for the acquisition
Or construction Of any revenue produce
ing public utility, nor any paving certii-
Gates primarily chargeable against spe-
ctal assessments for street paving, shall
be included in computing the indebted
hess Of said City of New Orleans under
this Limitation; and provided further,
that emergency bonds nay be issued as
authorized in Section 5 of this amend
Inent even though said Limitation shall
have been reached provided that the
Nine Million Dollars Of bonds authorized
by Section / of this amendment shall
not be subject to the limitation herein
fixed at the time or times that same
shall be issued; but. with respect to
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 as may be
| then outstanding.
Section IA. The Board of Liquida.
| ton, City Debt as now organized and
/ created with the powers, duties and
| functions prescribed by existing laws
! and by this amendment shall be con-
] tjnued while any bonds authorized by
4 this amendment are outstanding and un-
| paid; and all taxes which may be levied
! Tor the payment of said bonds shall, day
| by day as collected, be paid over to said
| Board, and shall by ii be applied in pay
| nent Of the principal and interest OF
| said bonds; and sad board shall with
I respect to All bnn7s authorized by this
1 Amendment be entitled to exercise all
| the rights and enforce the performance
| Of all the obligations, the same as II is
| authorized to do under laws existing, at
! the time OF the a lopt.on OF this amezld-
/ ment with respect to any Of the PRESENT
i iy outstanding bonds of said City or
! New Orleans. All funds, property and
| things of value held by the Board OF Ii
I quidation, City Debt. for bonded debt
purposes other than taxes now or here
| after levied. AMI particularly all funds
| property and things of value now or
T hereafter held by said Board under Act
| No. 1873 of the General sEembly of the
State of Louisiana for the year 1880
/ and all amendments thereto, shall when
released from contract obligations or
| dedications imposed by laws existing al
the time of the adoption Of this amend
/ ment be used and employed in the dis
creation of said Board in payment and
| retirement of any bonds of the City OF
New Orleans then outstanding.
| purposes. exclusive Of the support an1
maintenance of the public schools anG
the payment Of the bonded debt of the
CITY Of New Orleans, said city may in
/ each year levy upon ell taxable property
| within said city a tax not exceeding
SIX and one-haIf mills on the dollar OF
/ the assessed valuation thereof; pro-
vided, however, that when the one per
cent debt tax authorized by said Act No
10 of 1890 and the two mill water and
/ sewer tax authorized by said Act No. 6
Of 1899 shall both have ceased to be lev
led. and if thereafter the taxes levied by
the City of New Orleans in any one
wear for bonded debt purposes be less
than ten mills, said city may In such
events levy for its general purposes
such additional tax which, when added
10 the tax of six and one-half m1Ls
hereby authorized and the taxes lev1ed
for the payment of the principal and
interest of it's bonds as they severally
mature, shall not exceed in the aggre-
gate sixteen and one-half mills.
Section 16. The reservation OF TWEEN
" ner cent Of the revenues of the City
Of New Orleans shall not hereafter be
made as directed by Section 40 of the
Act No. 159 of the General Assembly OF
I the State of Louisiana for the year
1912, except insofar as the fund so d.
rected to be reserved shall have been
appropriated or dedicated before this
I amendment takes effect to the payment
of any obligation or the City Of New
Orleans. and said reserve fund Of each
wear when released from the obliga-
lions charged against it by law and be-
cause Of contracts. existing al the time