The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1916-09-09


EFum The sources aforesaid shall be 81
ssilsgirHt ia dnE uns year a. bay thr priu.
fsti sHH interest OF ihr hoHds issued
Hit4gf this amendment and then out
standing aud unpaid. uF il tor any cause
there shall not hy funds appropriated 10
~ Ak valuable luI sHah purpose. the t1ty 81
Arw Orleans siali lesy "a ta8 upon hl
taxable property In said city sufficient to
HuEgtt iut aus such deficiency and pro
FHtth tgftHeg that WhpU the aforesaid uNS
lf,r esHt debt tHA aud two fnsii water and
sewer t1A HHtU cease To- br ipyted, the
ttBtt 81 New orleans shall ieYy tax upon
.tii taxable property 3h said cts sufficient
fu Ea the prIHupat aEi interest of said
hAHts aS ihr} respectively become due.
section "A Is hereby intended that all
sststtHE drstigattous and appropriations 81
/ saEt uHr prJ cent debt taA authorized by
| s..u Ati No lie ct 1850 tuAeeBi with re-
sEr De- the salI UHv hall ~ the surplus
~ EHr tfft get cent debt taA herein dedi
lsH To- pubic aehaeEai, aHA RI satd tao
utIi nHter JHd AraH I4k. AuihuTtzed By
-s5# Nel Nu. s. ei 1858, shall b. respected
NtJ performed according % the prturttis8
bs said statutes established that al Ut
ff.Hf Ia3gi.uH ~ the funds fesultng from
flft t''F af sait taxes which shalt BE-
lslessvd truH said appropriations ami
Hru.tftHits rs the pas ment satisfaction
ar fttHHdlHG al ANY uf the bonded debt
obligations upW charged thereon and
There against shall, together with the one
half IT the surplus uf the enc per cent dett
tsk heretofore dedicated TO public school
o. ie'acs be- uEed and applied 30 the pay
uyHl Of th, principal aud Interest ui all
NHH.s issuud Under this amendment TINT
a#5 fssiue thereof remaining after the
iaft WrHt 81 the principal and interest Ia
HH# Hur syt At huHds authorized lbs this
amendment shall be turned ogvf to the
Us ui NsN Orleans tG he used by II fuT
s"itfA municipal purposes, hut WhvIG
ANT tu the extent that. the obligations
H#n charged uH said taxes shall he paid,
satisfied or refunded. said taxes shall he
released rom said obligations. and. uttls
H#tglb, WhvH tnurelJ released and dsH-
thtFHet. small gpasp 10 be levied ami,
.Hst thereafter hny and sll bonds issued
. .is} taJa amendment shall ie provided
twT rt H tax upon all taxable property "a
tilu 1Eit ui NrS orleans NIf1iUitHt To pay
.tIH pTluulpIlsauH interest uf Eatd bonds rs
.Hs# JraI.sJNv3t he,aur due provided,
HF.ttrrr that bee the event the funds
Do rs HFAauAy sp, ial8 dedicated Tor the
.i-t HgHf 81 The principal and Interest st
lrt hoHas .ssueu uuaer this amendment
-h"Hia prove insufficient, the cats ef New
.lHtaHs shall and IL Is hereby required to-,
ifFH iH every such instance tax upon al
E.tthlt property ia thp IIA ua New
.'HitaHs htt UNsatt to pHt the principal
ASST Interest 81 said bouda.
.er llnf T. tbv pt3utipal ati interest ot
tHHJs authorized hy this amendment
. slEH be pa9 able ia gold cpgu II the
! ltFH states pf America. az it's equiya
Hah Hl ths standard Of weight AMI fine
is#ss tt the time ui the issuance Of each
.sttllfurHl ul said honds
tl# tneIs shall be exempt from all
.#tatinu tai state parish, municipal "a
luhs. local purposes
}Hgs tabks. tutors 1T minors. euta
sa.s Il lnttrftttS. trustees and other
i.I tafE,s mas invest the funds ia their
asHHs TIi sitH Eands.
sI nop#s nl3F be used tot deposit with
"t#et tot'a. municipality OF ether
seed Subdivision II The state 81 Lou
( .HH tH ans pdsy where hS present ur
.saFr isws d.ppsIt or security Is required.
.ttH huH'iS uiab hs registered and te-
tasri sfeU registry under aueh rules 40
Ht' tiatta liquidation, ttiy Debt mas
prescribe
,utjou r. Al bonds tsnuet under t4ts
| menIueu shall bear such rate II ia.
ttrrst uf from time Ca time, different rates
/ 1T interest. and shall except as herein
/ H.HsiNiFt specially provided, be IA such
u s tCtnis Hua denominations, and pas
| FHs go such Times and places, within q
r,Uud uf not exceeding fifty years frpm
tHE tttr thereof, IA the HoAfd ~ iiuuida
HaH ttlf Debt shaH determine ssid
iHHgss shHii bv issued in serial form and
snail De payable iu annual inBtanmaf Is.
g8tamtHc5ng not mors than two years
flum their respective dates and the ln
| ailments pstS able iu each ear shall be
ss ftRrH that when the annual interest IL
#iled thereto, the several annual fetal
Fud shall ia 40 nearly equal as pfaGti-
gttte provided. said tnStallueuts may be
IAet at nEe thousand dollars or the near
r.t multiple thereof
sand htiiits shah be signed hy the MAJOR
| tGt the 2 commissioner ~ Public Finance
T.. HHs 14t. Of NeW Orleans er officers
ys-t isIHE similar functions, and counter p
/ EHv4 rs iilr President or Vice President
HH% tue ~rrrtary or Assistant SECRETARY
lnf EAp Hoard ut Liquidation, CITY Debt
ana thc coupons attached 10 said bonds
sjath hvAr the facsimile signatures 81 BIld
Commissioners 81 Public Finance and asid
SECRETARY ot Assistant Secretary. IN Case
#HF sHth officer whose signature or cuuu
tti Euatuft appears ufea such a bond
ul ru8puH shall cease % be such officer
before delivery II said bond o. coupon 10
the pltr,b aseT. such signature ar counter
| signature shall nevertheless bee valid for
sti purposes The cost AID expense of
preparing AMI selling said bonds siian be
PAD for h1 the Hoard Of llag'datIon,
/ SIS ibfhH
section u Atl hunds Issued under this
amendment shall he sold by the Board Of
| FHHurtaituW. CITY llrht g. the hIghpRt
| fat advertisement of not less than five
Insertions Iu the official Journal ct tho
i Ftt ut NgW Orleans tthe FIRST insgrtioa e.
ts AT itgst fifteen DAYS prior To the date
10, 90, t"i, and such either advertise
maut "a Hstd ctty ur etseW here, as said
uah % liquidation may "a its discretion
direct pgat ideti said Hoard al isguida, ion
mBS rrlrst ans and Hsl bids
| 0ErttnH - Excerpt as otherwise pro
| fr@ On thla amendment the city Of New
orleans Eil8ll not borrow money, issue
EtuHfts. notes or other evidences at IN.
dpbtettHrss so pledge It's credit OF Au.
tfyIpJtc the collection af any Of it's taxes,
| NJ money shall be drawn from the
| Treasury ri said city without specific
appropriation therefor previously made
uHf shall aHi .itN make ANY contract az
incur aut debt az obligation tug any par
ptsr Rh# tspFtef unless sufficient funds
Hat otherwise appropriated. SO pay aud
tsrhffEt same are actually IN the treas
urA 81 said cts at the lime al making the
HH ,tHH are specifically set aside and
| itH.t3s4 80 said purpose, unless herein
IHtHers lst provided The foregoing tmi
| taH Fttsttirtsuu shall not apply OF
- held d HpIN To- contracts nr 6hlisa ton
#aurlHI With inspect g. TIE furnishing g.
ai ..tE of light hsal ~ puRrr water,
Telephone service oF garbage removal OF
destruction
i fHa aslH ett& mas "a ana calendar wear
a #ul...H li.uH ~ the collection ~ the
'tets 81 such calendar year, and tur the
l. rFasss E which such taxes ara levied
tsfEpW s8rh sums AZ Shall uai be In
/ #esa al tHr amount ~ It's uuypiie ted
taAF# u such NpRJ aud may ISSUE itH
| H.t.N co. other evidences uf Indebtedness
therefor. tHl sues RBH, notes az other
tsgttgtHsyH ~ Indebtedness shall he pEy
| atit uHft uH' III the taxes Of the calendar
| Ergf I'm NHsth Htid lusn or loans are FIRST