St. Landry clarion. (Opelousas, La.) 1890-1921, 1916-09-02

xandtng all or any part or the bonded
mesnSedness OF the City Of New Orleans
Existing NJ ths time OF the adoption OF
snis ansndment bonds nay from time
70 time % Issued and negotiated. When
ny OF the issues Of the bonds of said
eisy outstanding 1T the time OF the adop-
uon OF this amendment hall become
oaliabls according 70 their terms or sns
statutes under which they are respsc.
Nysiy issusd. or whom the consent of
~ the holders OF any such issue of
nonas can be secured. the Board Of LII
Fight II it's discretion to call and pay
any one or more OF said issues OF bonds,
3na stall be authorised by resolution
hSnds 70 provide the funds necessary
xor mat purpose: provided, however,
enAt In no event shall the par value Of
the bonds so sold and negotiated sx-
debtednsss thereby to be refunded.
Section Z. The full faith and credit
Ct the City Of New Orleans are pledged
for the payment Of the principal and IN
fArest OF Ill honda issued under this
Amendment.
The principal and interest Of all bonds
anthorissd by and to be issued under
opt Of ~ that one-half 81 the surplus
Of the qns per cent debt tax which here
tofore has been dedicated for the sup
port and maintenance Of the public
authorized by ACT No. ITO Of the Gen.
srai Assembly Of the state Of Louisiana
for the year 1890, and subsequently
STATE. and IL. after January j. 1875,
that portion Of the one per cent debt
f1H. authorised and levied under Act No.
1le aforesaid. n the swq-mill tag a.:
Of the General Assembly Of the State
Of Louisiana for the year 1885 wnfen
qhell have been released and freed from
dedication either by the calling ana re-
q fNAAinE or fhN nnvnaat fn dIla c0t1rAA
14 all Or any part of the bonds existing
AZ the time Of the adoption Of this
Apnfpdmsnt; provided that, ii the funds
% insufficient In any one year to pay
the principal and interest of the bonds
lgssu6d under this amendment and then
cause there shall not be funds appro-
pViated TO or available for such purpose.
ths City OF New Orleans shall levy q
tax upon all taxable property In said
dsdcienoy; n provided further snar.
when the aforesaid one per cent debt
tar and two mill water and sewer TAX
SsT Orleans Siess Shall Il levy lsssss a tai. sns u nssa ali
taxable property in gaid city suflcieny
70 pay the principal and Interest Of
said bonds as they respectively become
due.
Section 8. It is hereby intende that
oil exieting dedication and appropria-
Nons OF said n per cent debt taH au-
HnUtlE8Q Dy SAlQ ACI no 11V Oh low TEX
Dept with respect to the said one-half
Of the surplus Of the one per cent debt
tax therein dedicated to public schools.
and of said two-miil water apd sewer
isSS. shall be respected and performed
according to the priorities by said stat
Ytss established that al Of that portion
q ths funds rssultiag from the lew Of
said appropriations and dedioations by
the payment. satisfaction or refunding
OF aAy Of the bonded debt obligations
shall together with the one-half Of the
aaeDIuS Of tbs one per cent debt tax
ksrstsfors dedicated 10 public school
purposes. be used and applied to the
all bonds issued under this amendment;
Nat any residue thereof remaining after
She payment oe the principal and inter-
by this smsndmsnt shall be turRe over
10 the city OF New Orleans. to be used by
II for general municipal purposes; but
when, and to the extent that the obliga-
paid. satisfied or refunded. said taxes
she'll be released from said obligations,
and ultimately, when entirely released
aMd discharged. shall cease to BE- levied:
iesve4 under this amendment shall be
provided for by a tax upon all taxable
pSoP9fty In the City Of New Orleans
suf5eiens to pay the principal and In
&CrVDt VA M6ku DOAI0S nS khVy SAJ
become DUE; provided, however, that, in
the event the funds h~ereinabove special
fy dedicated for the payment Of the
P pSsS nnnd.r sa this ia amendm on !a aSo DHhd prove W
insufficient, the City of New Orleans
shalt, and 1t lie hereby required to, levy
IN every u instance e tax upon all
iS4As NECESSARY to pay the principal
and Interest OF said bonds.
se2tion 9. The principal and interest
msaS shall be payable in gold coin Of
AAe Opited States OF America, or Ito
equivalent, OF the standard OF weight
ep6 nnsness at the time of the suanc
said bonds shall be exempt from all
taxation for State, parish, municipal or
other local purposes.
savage banks, tutors OF minors, cura-
tors OF tnterdicts, trustees and other
Mdu@taries may invest the funds In their
hand In said bonds.
ead bonds may be used for deposit
with any officer. board. municipality. or
ether political subdivision OF the State
Of Louisiana in n case whore by pres
eat or failure laws deposit Or security 10
Said bonds may be registered and re-
@eassd from registry under such rules
as the Board Of Liquidation. City Debt,
prescribe. :
Section 10. All bonds issued under
or, from time to time. different
rates OF interest, and shall, except AZ
herein otherwise specially provided, De
and payable at such times and placed.
within q period Of not exceeding nifty
ysars from the date thereof, as the
Board Of Liquidation, City Debt, shall
In serial form and shall be payable in
annual installments. commencing mot
mere than two years from their respee-
tire dates. and the installment payable
10 MnAh ~nor ehn11 hA an 6wAd that vhan
the annual interest 10 added thereto, the
annual total amounts Of prin-
cipsl and interest to be paid shal be
20 nearly sgual as pra~cticanas; Proyidsa.
thousand dollars or the nearest multi
pie thereof.
said bonds shall be signed by the
Mayor and the Commissioner OF Public
exercising similar functions, and
countersigned by the President or Vice
President and the Secretary or Assist
ant ss sify 6.b o. a sns I t6s eo Su alau'a aa-
to said bonds shall bear the
fac-simile signatures OF said Commis-
aioner of Public Finance and said SEQ
my such oficer whose signature
Dr. counter-signature appears upon
ease to be such oficer before
of said bond or coupon
10 Ine purchaser, SUN SlSlldIufC vi
counter-signature shall nevertheless De
valid for all purposes. The cost and ex-
penss of preparing and selling said
bonds shall be paid for by the Board Of
City Debt.
Section IL. All bonds issued under
This amendment shall be sold by the
Board Of Liquidation, City Debt, to the
bidder or bidders by sealed pro-
posals after due advertisement of not
esq than Ave insertions in the official
journal of the City of New Orleans (tne
irst Insertion to be at least fifteen days
prior to the date OF the sale), and sucn