The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1916-11-04

funding or the payment In due course of
all OF any part Of the bonds existing at |
ment, provided that, If the ft@lds derived |
from the sources aforesaid shall be in
sufhcient IN any one year to pay the prin-
under this amendment and then out
sta@1lg and unpaid, or if for any cause
there tn shall h A. not be funds appropriated to
New Orleans shall levy tax upon all |
taxable property in said city sufficient to
p ,ld ss. for any such deficiency; and pro-
per cent debt tax and two-mill water and
sewer tax shall cease to be levied, the
CITY OF New Orleans shall levy a tax upon
ali taXanle property in said city sufficient
TO pay the principal and interest of said
bonds as they respectively become due
Section g.. 1t is hereby intended that all
s ssis and appropriat;ions Of
said Act Mp 10 of 1890 Except with re-
speet to the said one-half Of the surplus
Gated to public schools1, and Of said two
miil water and sewer tax, authorized by
said Act No of 1899, shall be respected
by said statutes established; that ali Of
that portion Of the funds resulting from
the tn, levy Of said taxes which shall be
dedications by the payment, satisfaction
or refunding of any of the bonded debt
Obligations now ;, charged thereon and
half Of the surplus of the st one per cent debt
tax heretofore dedicated to public school
purposes, be used and applied to the pay
ment of the principal and interest Of all
bonds issued under this amendment; that
any residue thereof remaining after the
payment OF the principal and interest in
any one year of bonds authorized by this
am@dment shall be turned over to the
City OF New Orleans to be used by it for
General municipal purposes, but when,
VOW charged on said taxes shall be paid,
satisfied or refunded, said taxes shall be
released from said obligations, and, ulti-
charged, shalA Aease to be levied, and,
that thereaftS ny and all bonds issued
a qa g this an hne q shan be provided
the@Iity of New Orleans sufficient to pay
tn ssbrincipal and interest of said bonds as
! they respectively become due; provided.
hereinaboye specially dedicated for the
| payment OF the principal and interest Of
| The bonds issued under this amendment
should prove insufficient, the City of New
| Orleans shall, and it Is hereby required to,
| levy IN every such instance a tax upon all
| taxable property in the City OF New
and interest of said bonds.
| section g. The principal and interest of
al bonds authorized by this amendment
Unitea s Amerse ala or eG is e q yae
lent, OF the Standard of weight and fine
ness at the time of the issuance of each
| installnlent of said bonds.
said bonds shall be exempt from all
| taxation for State, parish, municipal or
| other local purposes.
4 Savings banks, tutors of minors, cura-
| tors Of interdicts, trustees and other
4 fiduciaries may invest the funds in their
hanas in said bonds.
Said bonds may be used for deposit with
1 any officer board, municipality or other
/ political subdivision of the State of Lou
lsiana in any case where by present or
| future laws deposit or security is required.
1 said bonds may be registered and re-
leased from registry under such rules as
the Board Of Liquidation, City Debt. may
| prescribe
Section 10. All bonds issued under this
amendment shall bear such rate of in
| terest Or from time to time different rates
of interest, and SHALL except, as herein
otherwise specially provided, be in such
form, terms and denominations, and pay
able at such times and PLACES within
the date thereof as the Board Of Liquida-
4 ton, City Debt, shall determine. Said
bonds shall be issued in serial form and
Il shall be payable in annual installments,
commencing not more than two years
4 from their respective dates, and the in
4 stallnents payable In each year shall pe
so fixed that, when the annual interest Is
added thereto, the several annual tota
amounts Of principal and interest to be
IcabIe: provided, said irstallments may be
fixed at five thousand dollars or the near
est multiple thereof.
Said bonds shall be signed by the Mayor
| and the Commissioner Of Public Finance
of the City of New Orleans, or officers
exercising similar functions, and counter
signed by the President or Vice-Presiden'
: and the Secretary or Assistant secretars
of the Board of Liquidation, City Debt
| and the coupons attached to said bonds
shall bear the facsimile signatures of sale
, Commissioner Of Public Finance and sale
Secretary or. Assistant Secretary In case
any such officer whose signature or coun:
or eoupon shalt cease to be such Officer
before delivery of said bond or coupon t
) the purchaser, such signature or counter.
1fh nrpes ssa rhe cost and &c expense
} preparing and selling said bonds shall bt
: paid for by the Board of Legislation
, City Debt.
Section ILL., All bonds issued under thi.
) amendment shall be sold by the Board o
n LIQUIDATION, City Debt to the highes
due ad " Of not less than fy'
insertions in the official journal of thu
5 City of New Orleans (the first insertion t
se t saa a aaeh p otRer to
Board aas' Of Of LiquidatloAoay il is aiseretiol
direct: provided said B Is hids Of Lauidatio'
vi Section r. Except as otherwise pro
i vided in this amendment the City OF NeV
! DO reis notes or other evidences of in
: debtedness or pledge it's credit or an
| ticipate the collection of any of its taxes
: No money shall be drawn from tn
. treasury of said city without. specif
i | approximation therefor previously made
] | nor shall said city make any. contract 9
: incur any debt or obligation for any pur
ipose whatsoever unless sufnclenr 1unos
e ! not otherwise appropriated, to pay an
u discharge SAGE are actually IN the treas
X$llrv of said CITY at the tinAnf making tn
III contract or mourning theT or oblga
: ton and are specifically aside an
t | dedicated to said purpose unless herell
otherwise provided. The foregoing Linn
S tation .l1d restriction shall not apply
Y | be held to Apply to contracts or obilgatio
: incurred with respect to the furnishing :
: said city oflight, heat or power, water
t&phone sSkice or garbage removal Q
: Idestruchon 80
e. The said city Q2ay in any calendar yea ca
Gin anticipation of the coilec1lon OF n
s taxes of such calendar year, and for IN
: n,1rnoses for which such taxes are Levied
: borrow such sums as shall not pc 4
T | excess Of the amount of its uncoHecte
: taxes of such year, and may issue "
4 notes or other evidences of indebtednes
[ | Therefor. and sucii sum, notes or othe
Il | evidences of Indebtedness shall be pay
' able only out of the. taxes OF the calenaa
year in which said loan or loans are mrs
q | made. and for which Indebtedness sal
q revenues shall be pledged, and SAID III
q debtedness shall not be payable out g
any other funds or moneys WnaISOeVei
/ No money shall be borrowed by the sal
. city excepf for current municipal puI
+ noses and in no event shall any none
: be borrowed by said city to make or 7
q | nav for works of public improvement
h Said city may issue for street pawn
q nlIrposes certificates on its faith an
h Credit pursuant to legislat4 authority adfs