The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1916-10-21

from tie sources aforesaid shall bt ia.
sufficient su ans une year To- pas ihC pgiH
cllal and interest Of the bonds issued
under this amendment and then uut
standing and unpaid, Of II for any cause
there shall not he funds appropriated a.
ct available for sueh purpose, the C8ty uf
New Orleans shall leyy tax upen All
taxable property In said City sufficient t0
pros lbe fur ans such deficiency ana pro
.ted fggtHFf that when thu aforesaid cite
per cent debit tsIN and two mil water ard
sewer tan SHAH cease 20 he ltyieG the
tHiS ~ NeW Hrtebns shall iryy 4 tax upon
All taxable property ih said city Sufficient
tu pHR thu principal and interest at said
bends rs they respectively become due
section Il IS hereby intended that all
existing drdigatluna and appropriations Of
said one pet cent debt tax authorized t}
said Act Ne lie ~ 1885 tsSgept with re-
sptyt g. the said one half 81 the surplus
ei t'ts see per cent deht taN hsrrla dgdt
Gated 81 public Sghaulsl. AMI of said tive
nall water and sewer tax, authorized b
said Act No s of 1889 shall Be respected
and performed according 60 the prtUritips
by said statutes established that Htl Of
that portion ~ The funds resulting from
tH' igNE at said taxes Witch shall he
released from said appropriations and
1"btgatlUus tY the payment. satisfaction
NJ rtfuBdiug et any ui the bonded dtbt
obligations now charged thereon and
there against shall, together with the one
hBlt If TIE surplus uf the one per cent dtht
tax heretofore dedicated 10 public sHhaul
parpyHrs, be used and applied 80 this pas
ueut NJ the principal and interest OF all
bonds issued under thls amendment that
ans residue thereof remaining after the
pas meat 81 the principal aud interest to
ans oHe year ~ bonds authorized t} this
amendment shall bee turned over "a the
tits Of New Orleans to tie uEesi by It Tor
general municipal purposes, but when
ana 20 the extent that the obligations
nos charged UH sIIi taxes shall he paid.
satisfied eF refunded said taxes shah be
released from said obligations, amt Bi1i
matetAt shtn entirely released AMI dis
charged, shall cease 80 be- levied and.
that thereafter ans ana all bonds issued
under this amendment shall be provided
tot by tax upon all taxable property tn
the GitS % New Orleans sufficient 80 pay
The principal and interest gf said bonds ~
ihet frspes lively become due provided
however, that 10 the event the funds
htrelHahuge specially dedicated fer the
ia meEt Of the principal ana interest al
the bonds issued under this aWeuimsnt
should prove Insufficient the Clty ~ New
losy iii esery such instance q tax ulou All
taxable property gu the cts Ut Scs
Orleans necessary io pas the pfing paI
and gutereai al said honda
section bee principal and interest ui
al bonds authorized by this amendment
shan be pas atle Ia gold coin cf the
! United states ~ America or It's eluIya.
ielt, ~ the standard III weight and iiHs
mess at the time Of the issuance OF each
| lustRllmsnt % said bonds
said bonds shall be exempt ffuta all
taxation for state, parish, municipal OF
other local purposes
gsstngs banks, tutors Of minors gura
tors q Interdirss, trustees and other
tltutjafleS mas invest the funds iu theit
hands lu said bonds
%ssgI L.. far q
tu} officer, hoard. municipality or other
political subdivision II the state Of Lou
5aiaua Tn any ease whFFe is present of
| future laws deposit OF security is required
said busds mas be registered and re.
| leased from registry under such rules "a
| ihe Hoard 81 Liquidation. city Debt, mA}
prescribe
section lo All houds ISSUED under THE
| amendment shall bear such rate 81 In.
| tcfest or. from time 20 time different rates
IT interest and shall. except AS herein
oEhfr@tst specially provided be lH Eust
form. terms and denominations, aud pas
attlr ~ such times and places, within +
peftod Of not exceeding hfty years from
| the date thereof, az the Hoard 81 i4iauda
| liuH, city Debt shalt determine Satt
hondN shall be issued Ia serial form ans
| shall he payable in annual tHstallmsats
commencing not more than tHu Year,
| from their respective dates. and the ia
| stalliugnts payable ia each year shall T.,
| 50 fixed that. when the annual interest u
added thereto. the several annual tota
| amounts 81 principal aud interest Ia b,
| paid shall ha as nearly equal as pfaeti,
/ ealbe provided said tnstailmcnta may h,
| fxed az fiye thousand dollars or the near
| est multiple thereof
said bonds shalt he signed by the Mayor
| and the commissioner ~ Public Finance
n the Clfy II New Orleans, or officers
exercising similar functions, and counter
| guei bb the IresideHt or Vice fTesidsH
| tEi tie Secretary Of Assistant Sc rutat5
| II the H0ard ~ Liquidation, Clty neht
| and the coupons attached TO said hondi
| shall bear the facsimile signatures Of satt
| Commissioner II Public Finance aud safe
| Secretary ar Assistant Secretary, In cas-
| ans such officer whose signature or eoun
/ trE signature appears upon such A hout
| 20 coupon shall cease 60 Toe such uttee
| before delivery 81 satl bond ar coupon Il
| the purchaser. such signature OT counter
| signature shall nevertheless be shltd fn
| all PURPOSES The cost and expense o
| preparing and selling said hosgds shall h
| paid fer hy the BOARD 81 Legislation
| its Debt
section n Al bonds issued under thu
| amendment shall DE sold hy the Board o
| Liquidation. cats Debt, 10 the hiKhes
| bidder OF bidders by sealed proposals Nfte
| due advertisement 81 not less than nv
| insertions so the official Journal II tht
| city ~ New Orleans lthe first insertion q
4
| IT thc sale, and such ether advertise
| fneut, in said rity or elsewhere, ~ sal'
| lloard 1T Liquidation may IN It's discretion
| direct provided said i}nard Of Liquidation
mas reject any and all bids
| Section ~ Except as otherwise pre-
| yited Ia this amendment the city Gi New
| Orleans ahal not borrow money Esu
| honda, notes or other evidences Of in
iehtodness or pledge Its credit or an
,irtpatf the collection of any uf its taxes
| Ne money shall be drawn frem N
| treasury ~ said city without specth
| appropriation therefor previously made
1 nor shall aHtd tits make any contract o
| incur any debt cor obligation for ARK puf
pose Whatsoever unless sufficient funds
| not otherwise appropriated to pay an
| discharge same are actually tn the treas
| ufy ~ satd city az the titne of making tn
| contract or tuc4fFiHg the debt or ebliga
| tten and are specifically set aside aut
dedicated 60 said purpose, unless teTeti
otherwise provided The foregoing hmi
tAtian and restriction shall not apply q
| b.. held 10 app{ 20 contracts OF ubllEAtig
incurred with respect 90 The furnishing {
| said city ~ light hsat or power water
| telephone service of garbage removal o
| Destruction
| The saia city msy iu any calendar yea
~ anticipation IT the collection of h
taxes u such calendar year HHd fof ~
purposes for which such taxes are levied
| bngruw such sums as shall not te =
excess ~ the amount af It's urcDlssetr
taxes of such year. and may issue IL
notes OF either evidences af indebtedness
| therefor and suCt sum notes or ollie
evidences II indebtedness shall he pay
able null out ~ the taxes uf the Cdienda
! .-ay "A s.bisb salA loan or igFWs are frs