The Era-leader. [volume] (Franklinton, La.) 1910-current, 1916-10-26

issued under the aforesaid Act Nc. % of
1914, or under subsequent legislation, shall
not at any one time be outstanding III an
amount III excess Of Five Million Dollars
| lS3000,Q 600 in face value.
| Section Is. The total issue Of bonds by
| the ct" OF New Orleans tor all purposes
shall never exceed ten per ccntum Of the
| assessed valuation Of the property in said
| city; provided, however. that neither the
bonds issued for water, sewerage and
dr:tihasc purposes lnalnely, the VI, 1000
900. Public Improvement Bonds issued
under said Act 80. 4 Of 1899 and the
| S., 900. 00u New Public Improvement Bonds
issued under Act No. IL OF the General
Assembly Of the State OF Louisiana for
the year 1906; and acts ameldatory 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 reiundedl, nor
the $4,000 600 Public Belt Railroad Bonds
Assembly OF the State Of Louisiana for the
year 1ave, nor any bonds hereafter au-
thoriZcd Tor Public Belt Railroad pur-
poses, nor amy bonds which may hereafter
be issued for water supply or Tor the
acquisition or construction OF any revenue
certificates primarily cha!Se:lble against
special assessments for street paving,
shall be included in computing the :ndebl
c1ncss OF said City OF New Ollcans under
emergency bonds may be issued as au-
/ thorized in Section . Of this amendment
even though said limitation shall have
been reached; provided that the Nine Mil
| hon 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; but. with respect to any other
bonds that may be issued hereafter under
this amendment there Shall be included
! lt.lt if,S, ISr,,
Dollars Of bonds, Notwithstanding the fact
i that all OF said Nine Million Dollars of
bonds shall not have been actually issued,
ana such amount OF emergency bonds as
| may be then outstanding.
| Section II. The Board OF Liquidation,
j City Debt, as now organized and created
amt with The powers, duties and functions
prescribed by existing laws and by this
amendment, shall be continued while any
bonds authorized by this amendment are
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 payment OF the principal
! and interest Of said bonds; and said board
| shall with respect to all bonds authorized
| by tins amendment be entitled to exercise
! all the rights and enforce the performance
| OF All the obligations, the same as it is
authorized to do under laws existing at
| the time OF the adoption OF this amend
| ment with respect to any OF the presently
outstanding, bonds of said City OF New
| Orleans. All funds, property and things
! of value held by the Board OF Liquidation,
CITY Debt, for bonded debt, purposes other
! than taxes now or hereafter levied, and
particularly all funds property and things
OF value now or hereafter held by said
| Board under Act No. 133 of the General
| Assembly OF the State OF Louisiana for
the year 1880 and all amendments there
to- shall when released from contract
tlOnS jf.1 " Ia
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 IL. For general municipal pur-
poses, exclusive Of the support and MAIN
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
levy upon all taxable property within said
city tax not exceeding six and one-}1alf
mills on the dollar Of the assessed valua-
ton thereof: provided, however, that when
the one per cent debt tax authorized by
said Act No. 10 of 1890 and the 1wo-miil
Act No. OF 1899 shall both have ceased
to be levied, and if thereafter the taxes
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
events levy for it's general purposes such
additional tax which, when added to the
tax Of six and onc-half mills hereby
authorized and the taxes levied for the
payment of the principal and interest of
its bonds as they severaly mature, shall
not exceed in the aggregate sixteen and
Onehalf mills.
Section Is. The reservation of twenty
per cent of the revenues Of the City of
New Orleans shall not hereafter be made
as directed by Section 30 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
shall have been appropriated or dedicated
payment Of any obligation OF the City of
New Orleans, and said reserve fund of
each year, when released from the obi
cations charged against it by law and
because Of contracts, existing at the time
Of Of the j adoption of this amendment shall
Section II. For the support, l1lainte-
nance. construction and repair Of the
public schools in the City Of New Orleans,
the Board Of DIRECTORS of the. Public
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
the Commission Council or other future
governing. body, OF the City Of New Or
entered upon the tax rolls of said city
according to law against all taxable
property in said city as assessed and
valued for city taxation purposes; and
paid over to said Boarl Of Directors Of the
Public Schools, Parish of Orleans, day by
day as collected.
Said tax shall be in lieu of all taxes,
appropriations and funds now authorized
or directed to be levied or contributed by
the City of New Orleans. for public school
purposes either by said Act No 10 of
1890 or other provisions of the Constitu-
ton Of this State All 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,
tuition OF this State, are hereby abrogated
and repealed; and the City of New Orleans
shall have no power or authority to use
or employ any of its taxes or funds for
of the public schools, directly or indirect
~, except as herein authorized; provided,
however, that the City of New Orleans
shall administer, use and employ all the
funds. property or things of value now or
hereafter held by it under any special
legacy, bequest or donation made or to
be made directly to it for school purposes,
and shall carry out and execute the con-
ditions Of all such special legacies be-
quests or donations that have been here
tofore made to and accepted by said City
of New Orleans and all such as may here
Section IS. For the purpose of giving
additional support to the Public Schools,
the Board Of Directors Of the Public
Schools. Parish of Orleans. or its legal
successor, may levy upon all taxable
property in the City of New Orleans a
dollar Of the assessed valuation of said
property (Which special tax shall be in
excess of the tax authorized by Section II
of this amendmenD, whenever ~ in the