New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1916-10-28

as otherwise provided for by said act {
subsequent legislative authority not i
conflict hc.e 18th; p-o..--l, ~" ere
t that paving certifc ates, for which tn
faith and ,ledit Of the City Of New O.
leans shall be pledged, whe .-r issue
under the atoresa act No. D. of 19l
or under subsequent legislation, shall no
; at anv time be outstanding in an ar,oun
in excess of Five Million Doilar
($5,O00,000) in face value.
Section -. The total issue OF bond
by the City OF New O..eans tor all pur
poses shall never exceed ten per cea.u:
of the assessed valuation of the prop
erty in said city; provided, however, tina
neither the bonds issued for water, sew
erage and drainage purposes namely
the $12,00O,0O0 Public improvement
Bonds issued under said Act No. 6 O.
1899 and the $8,000,OOe New Public I'm
p1o:cment Bonds issued under Act No
~ OF the General Assembly of the Stat.
of Louisiana for the year 1906, and acts
amendatory thereof and supplement, a
thereto, as well as such bonds, hereby o,
hereafter authorized, into which the
aforesaid bonds OF any part thereof may
be refunded), nor the $2,OOO,OOO Public
| Belt Railroad Bonds authorized by Ac,
| No. 179 of the General Assembly of the
State of Louisiana for the year 1908, nor
any bonds hereafter authorized for PUP
lie Belt Railroad purposes, nor any
bonds which may hereafter be issued for
water supply or for the acquisition or
construction of any revenue producing
public utility, nor any paving certificates
primarily chargeable against special as
sessments for street paving, shall be in
cluded in computing the Indebtedness of
said City of New Orleans under this lin
itation; and provided further, that emery
ency bonds may be issued as authorized
in Section of this amendment even
though said limitation shall have been
reached; provided that the Nine Million
Dollars of bonds authorized by Section
l 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 An other bonds that may
be issued hereafter under this amend
ment there shall be included in the COM
putation said Nine Million Dollars of
bonds, Notwithstanding the fact that eli
of said Nine Million Dollars of bonds
shall not have been actually issued, and
such amount of emergency bonds -
may De then outstanding.
Section IA. The Board of Liquida-
ton, City Debt, as now organized and
created and with the powers, duties and
functions prescribed by existing laws
and by this amendment, shall be con-
tinued while any bonds authorized by
this amendment are outstanding and
unpaid; and all taxes which may be
shall, day by day as collected, be paid
over to said Board, and shall by it be
applied in payment of the principal and
interest of said bonds; and said board
shall with respect to all bonds authorized
by this amendment be entitled to ex-
ercise all the rights and enforce the per
torrance of all the obligations, the
same a. it is authorized to do under laws |
existing at the time of the adoption Of !
this amendment with respect to any Of
the presently outstanding bonds Of said
City Of New Orleans. All funds, prop
srty 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
III funds, property and things of value
now or hereafter held by said Board un-
Ter Act No. 1873 of the General Assembly
# the State of Louisiana for the year
1880 and all amendments thereto, shall
vhen released from contract obligations
- h&, la sn\s
i the time of the adoption of this
amendment be used and employed in
he discretion of said Board in payment
nd retirement of any bonds of
he City of New Orleans then outstand-
nc.
Section IS. For general municipal
purposes, exclusive of the support and
maintenance of the public schools and
be payment of the bonded debt of the /,
;ity Of New Orleans, said city may in
ach year levy upon all taxable property !
vithin said city q tax not exceeding six {
nd one-half mills on the dollar Of the I
ssessedvaluation thereof; provided, l
owever, that when the one per cent debt 9
X authorized by said Act No. ITO Of :
800 and the two mill water and sewer !
X authorized by said Act No. s of 1899 .
hall both have ceased to be levied, and b
thereafter the taxes levied by the City c
New Orleans in any one year for
onded debt purposes be less than ten +
ills, said city may in such events levy {
" its general purposes such additional G
X which, when added to the tax Of six o
I'd one-half mills hereby authorized n
I'D the taxes levied for the payment b
the principal and interest Of its bonds .
they severally mature, shall not ex- .
ed in the aggregate sixteen and one Il
If mills. IN
Section Is The reservation Of twenty .,
= cent Of the revenues Of the City Of O.
ew Orleans shall not hereafter be made {
directed by Section 10 Of the Act No. o.
9 Of the General Assembly Of the
ate Of Louisiana for the year 1912, ex- (,
pt insofar - the fund 30 directed to Il
reserved shall have been appropriated P
dedicated before this amendment ei
kes effect to the payment Of any OBJ ii
yation of the City Of New Orleans, and Il
id reserve fund Of each year, when re- .,
lsed from the obligations charged b
ainst Il By law and because Of con- b,
a. Al n Al