The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1916-11-04


from tAs sources aforesaid shall be- lN
sHtit lent boa ans one year r. pay tHr EffH.
c3Isi and interest OF TIE bonds Issued
under this amendment and the8 out
standing aHH unpaid, uf IN for ans cause
there shall not bp funds appropriated a.
20 atBllahiy Ter aa,h purpose. the cts uf
AsW orleans SHAH les a taA upon Bll
taxable pfHprfit ih said city Sufficient 90
prov ide for ANS such deficiency uuI pro-
FftrI further tHat when the Aforesaid ole
pen rent debt taN and twpmil water ana
sewer tax shall cease 20 be levied. the
ttEs at NrN Orleans SHAH levy Is tax upon
sll igktttt property tH sAia cts sufficient
90 Ity the principal aud interest 81 sal1
bonds as lhs} respective ell become 9#r
section T. Il Ia hereby intended that ala
existing dpdleatIous and apyrup} atigHs ui
said ufgy per gsEt debt TAX authorized IS
said Act Ne. iln ~ 1890 tcArspt Wljh re
sPcgl to thf said one half 81 the surplus
NJ he oAe rsF cent dsbt tax hersin dedls
gattd &C. puhhs srhuusSls ami 81 said two
mHl water and sewer tax, authorized by
sala Net Ne ~ 1893, shalt hv respected
and performed according 80 the prlHittts
h} said statutes established that all Of
that portion ~ the funds resulting from
the levy 81 said ttSss which shall he
released ftum said appropriations and
isstieatsuus Is the pas megf, sAttafaF tioR
nr TefuHftHE W any ~ the bonded Hat1
obligations upH charged thereon and
there against shall, together with the one
iiiAl HA At&F t5NG ts tIlt NHsF pet cent fttt#
tax heretofore Dedicated go puddle school
purposes, he used and applied 90 the pay
WCff 81 the principal and interest al uH
huHHa ISSUED under this amendment that
any residue thereof remaining after the
paYnteut 81 tttt principal and interest St.
any 5ns yeag 1t boHas authorized b. this
amendment shall be turned over 20 tht
tltN Of NeH Orleans tu b. usri h8 10 fUf
gene al municipal purposes, but when
ana To the extent that, the Obligations
D "a FOL Il ...f a.
satisfied os refunded, said taxes shall be
released from said obligations and witt
mairiYt when entirely released and dts
charged, shan cease To- be levied and,
mat, thereafter. aNy and al bonds issued
undaf this amendment shall bs PROV led
fuF hy q tax upon aH taxable property tn
the cats Of Scw Orleans sufficient o. pas
The principal and interest ~ satd bonds as
they FUsptt tNtiS berume due, provided
however that, ID the event the funds
hfreuabuTu specially dedicated for the
pas usut Of the principal and interest a
the bonds issued under thls amendment
should prove insufficient the 1itY ~ New
orleans shall, and IL is hereby required to.
levy IA every such Instance a tax upon all
taxable property ia the city II New
orleans necessary 10 pas the EftHglIsd
and interest of SAID bonds
section ihe principal and Interest ~
~ bonds authorized b. this amendment
shall he payable ia gold coin ~ the
T. FtfiFA NfAitH vi NiHftlt1t or lfH PVQiFH
Irut Uf the standard 81 weight and fine
ussH az the time III the issuance If each
IHEtallment ~ sbii bonds
sad bonds shall he exempt irou an
TAXATION foG state parish municipal a.
other lUcai purposes
rawlings banks. tutors # minors gurA.
tors ef tnterdiets, trustees and other
hH8pt4TtUa may invest the funds iH their
p N4hN lU said bonds
said boEds pfay hs used fof deposit Wlth
Hy officer board, Utuutr Ptlity or other
grl5Heai subdivision II tLv state II Lou
ts.aHH jH avs gtst Whprp rs present or
t1tHFV taWs deposit uF sgCufity Is required
@8d bonds may De registered and re-.
tttstl ttnta registry under such rules az
th" t9tri aE Liquidation, ,tts Debt faay
prescribe
s-csttDa Ia al touas issued aaacr this
amendment shah bear such rate ii Ia
terrst or, from time 10 time. different rates
NJ interest and shall except Us herein
otherwise specially provided b. u Huth
form, terms aH4 denominations aud pas
Tie 81 such times and place. within
p"ftesi ~ Hai exceeding Hffy ErtrH ffUm
the aalf thereof as thc Board - iHUu48.
EfuH. tHE Debt SHAH dDtrFfg #r said
taudH shall - issued H serial furfa and
mali be- p.s5 able 30 annual Hst1flneHfs.
HHtH#HWIus Nut more than tWr By4T8
from their respective dates and the in
st3llWvufs iB5 able "a eegh year shall be
50 Haei that, Is HFH the annual interest Is
tadei thereto. the several annual total
amounts ~ principal and interest 10 Re
paid SHAH he NJ urarly equal a. pFactis
cable provided said lnEtalIueuia t4ay he
nNrd al Use thousand dollars uf tho near
est multiple thereof
said bonds shall be- signed rs the Mayor
tli Tee t"mHsiaF3ohor ~ Public tuauea
az gtc tiE - &eW Orleans. aF .a}gegs
exercising similar functions. anH counter
srut4 rs the i'fra.teHi az Vice FIRES. anf
90 fhH secretary ar Assistant Secretary
~ the Heard II Liquidation, city Debt
and the coupons attached 90 fai1 bonds
shall bear tht fac-simile signatures ~ sald
Commissioners ~ Public Finance and SAID
ssytctars Ur Assistant Secretary. n case
any such officer whose signature ag cuRu
lea signature appears upon such bond
~ coupon shall cease - he such officer
before delivery 81 said bond OF COUPON 60
signature shall nevertheless be valid for
all purposes The cost and expense 81
preparing AMI selling said bonds shah be
paid Tor hy the Hoafd ~ Liquidation,
~ Debt
-ertton II Al bends issued under this
amendment shall be sold hg the Beard OF
Liquidation tffy Debt 90 the highest
bidder or bidders hf sealed proposals after
tue advertisement ~ rot leas than use
Insertions so the official journal 0f the
ltty II New Orleans tthe frat insertion e.
he ~ least fifteen days prior 90 the date
# thr salrt. ant sach other advertise
Henl ~ said city eF ClapW here rs said
Board ~ Liquidation may tn its AiReretion
direct provided Haid Hoard Of Liquidation
may reject ans and al bids
Section ~ Except "a otherwise pro
slded Ia this amendment. the city Of New
Orleans shall not borrow money, Issue
bonds. notes ~ other evidences II th.
dehtedness OF pledge It's credit or an
tiolp,te ths collections az any Of It's taxes
Ne money shall bee drawn from the
treasury II said ety without specific
Appropriation therefor previously made
nor shall said city make any contract or
incur ans debt az obligation Ter any put-
pose whatsoever unless Sufficient funds,
hot otherwise appropriated to pay and
discharge same are actually hi the treas
airy ~ said City at the time az making the
contract oF mourning the debt or obiiEa-
ton ami Rre specifically set aside ard
dedicated 10 said purpose unless herein
otherwise provided The foregoing lIm
tniion and rgsiFtrtion shall rot apply or
te held 30 nppy 20 contracts or obligation
incurred With respect To the furnishing O.
said city ~ light heat ct power. water
telephone service or garbage removal or
destruction
The said tlty MAY la any calendar ear
IN Anticipation ~ the collection ~ the
taNes Al such calendar year and for the
purposes for Witch such tASes are levied
borrow EuCh sgn4 as shall not be In
excess ~ the amount ri It's uHgUllprfeA
taxes 81 such year. and mas Issue its
notes OF other evidences # indebtedness
therefor and sucd suH notes or other
evidences ~ Indebtedness shall he pay
4t,le FfFEy Ttf 80 fhE faRHa ~ the "a f4tfHar