The Caldwell watchman. (Columbia, La.) 1885-1946, 1916-09-08

making the contract or lNcuiiiiH ~ ~
debt or obligation and are Spe,Mn"uH
set aside ard dedicated to said P"' pnE%c'
unless herein otherwise provided. Tue
foregoing limitation and feS'f't.'on
shall not apply or be held to Apply 70
contracts or obligation incurred WIN
respect to the furnishing to said city or
light. heat or power, water. Telephone
service or garbage removal or ueS'ruc-
ton.
The said city may in any cdieh"at
wear in anticipation Of the collection OF
the taxes Of such calendar year, ana Tor
the purposes for which such taxes are
levied. borrow such sums as shalt n"t
be in excess or the amount oi KS u'-
collected taxes OF such year and may
issue its notes or olher evidences OF
Indebtedness therefor. and such sum.
notes or other evidences of Indebted
ness shah be payable only out of the
taxes Of the calendar year in which sald
loan or loans are first made. and Tor
which indebtedness said revenues shall
be pledged. and said Indebtedness shall
not be payable out of any other funds
or moneys whatsoever No money shall
be borrowed by the said city except Tor
current municipal purposes, and In no
! event shall any money be borrowed by
said city to make or to pay for works
of public improvement Said city may
issue for street paving purposes certifi-
Gates on it's falt4t and credit pursuant TO
| Legislative authority. to an amount not
in excess of any special assessments
which have been or shall be made for
such purposes. Such paving certificates
hereafter issued Shall be chargeable
primarily az. inst the special assess
ments IN respect of which they are is
| sued and secOndarily against the reve
nues Of the city OF New Orleans derived
from taxation for general municipal
purposes and from sources other than
| the taxes for the payment CT the princl-
| pal and interest Of the bonds now out
| standing or hereafter to be issued M
| der this paving certificates only in the
event and to the extent that SuCh
| amendment, which revnues Shall be ap-
| piled in payment of such special assess
ments shall be insufficient for such pay
ment. ana reimbursement shall be made
| to the general funds Of the City Of New
! Orleans when the assessments are col
! leCtei to the extent Of the amount that
| the said general funds Shall have con-
| trihuted TO the payment aforesaid. So
| much Of Act No. % Of the General As
| sembly Of the State of Louisiana for the
| wear 1914 as may be Inconsistent here
| with IS hereby repealed. and hereafter
| no paving certificates shall he issued
| upon the pledge Of the reserve fund OF
| the City Of New Orleans, but such GER
| titicattS shall be secured as herein and
| otherwise provided for by SAID act or
| SubSeGuen lt+ lSIdtlNt authority NOT IN
| COnIuCt herewith, provided however,
| that paving certificates, for which the
| faith and credit of the City Of New Or
| leans snail b" pledged, whether issued
! under the aforesaid Act No. % of 1914
| or under subsequent legislation shall
| not at any one time be outstanding in
an amount in excess Of Five Million
! Dollars GS50G0 600 in face value
| Section -. The total issue of bonds
by the City Of New Orleans for all pur-
| poses Shall never exceed ten per centum
! of the assessed valuation of the proper
! ty in said city provided, however. that
neither the bonds ISSUED for water,
| sewerage ami dralEaSe purposes tname-
! ", the ST. coo, 900 Public Improvement
1899 and the sS,o00.000 New Pub
! lie Improvement Bonds issued I'M
der Act No. ls of the General
Assembly of the State of Louisiana
| for the year 1906. and acts
amendatory thereof and supplemental
| thereto as well as such bonds. hereby
or hereafter authorized. into which the
| aforesaid bonus or any par Thereof may
| be retundedl, nor the 100000 Public
| Belt Railroad Bonds authorized by Act
| No l19 Of the General Assembly of the
| State of Louisiana for the year 1908
nor any bonds hereafter authorized for
| Public Belt Railroad purposes. nor any
bonds which may hereafter be issYce ss,
for water supply Or Tor ssss prddue
or ,,.sss sGttity' nor any paving ceftia
I Gates primarily chargeable against spe-
| cial assessments for street paving, shall
be included in computing the indebted
ness of said City Of New Orleans under
this Limitations, and provided further
that emergency bonds may be issued as
authorized in Section Of this amenc,
ment even though said limitation shall
have been reached provided that the
Nine Million Dollars Of bonds authorized
by Section l of this amendment shall
rot be subject to the limitation hereir
fixed at the time or times that same
shall be issued; but, with respect t.
any other bonds that may be issue;
hereafter under this amendment tner'
; shall be included in the computatio
said Nine Million Dollars of bonds. not
withStandng the fact that all Of sal,
Nine Million Dollars of bonds shall no
have been actually issued. and suci
: | amount Of emergency bonds as may b
then outstanding
Section II, The BOARD of L.iqulda
. ton City peht, as now organized an
created with the powers duties an
| functions prescribed by existing law
| and by this amendment shall be con
l tinued while any bonds authorized b
this amendment are outstanding and IN
| paid: and all taxes which may be levie
. for the payment of said bonds shall. da
by day as collected. be paid over to sal
= Board, and shall by it be applied in pay
. ment Of the principal and interest O
T. said bonds; and SAID board shall wit
respect to all bonds authorized by tn
= ! amendment be entitled to exercise a
= the rights and enforce the performanC
! of all the obligations, the same as it
. authorized to do under laws existing g
t the time Of the adoption Of tins amend
| To Of lao
;, ~ outstanding bonds Of said City {
y New Orleans. All funds, property al
:. things Of value held by the Board of l.
!. quotation. City Debt, for bonded def
N purposes other than taxes now or here
~ after levied. and particularly all fund
~ property and things of value now
70 hereafter held by said Board under Al
~ No. 1873 of the General ssembly of tt
- State Of Louisiana for the year 1S>
- and all amendments thereto, shall Whe
=. released from contract obligations
y dedicaions imposed by laws existing
- the time of the adoption of this amen
g ment be used and employed in the di
l. creation of said Board in payment az
retirement Of any bonds Of the City
IS New Orleans then outstanding
n Section Is. For general municlp
~ | purposes. exclusive of the support az
% | maintenance OF the public schoois at
+ the payment Of the bonded debt of Il
A. Nily OF New orleans said city may
+ | each year levy upon all taxable proper
le within said city tax not exceeti,
s. SIX and one-half mills on the dollar
O. the assessed valuation thereof: Or
s. Vided. however that when the one y
re cent debt tax authorized by said Act \
IN 10 OF 1880 and the two mill water a!
~ sewer tax authorized by said Act No
"a of 1899 shall both have ceased to be lie
~ led. and if thereafter the taxes levied
~, the City of New Orleans in any o
~ year for bonded debt purposes be lie
w than ten mills, said city may in su
ia events levy for It's general purpos
~ ~ such additional tax which. when add