St. Landry clarion. (Opelousas, La.) 1890-1921, 1916-09-09
Act No. 10

Senate Bill No. So. BY Leon r. Smith
A JOINT RESOLUTION
Proposing an amendment to the Con-
stitution of the State of Louisiana,
providing for the funding of certain
debts of the City of Shreveport, and
judgments against the said city, the
issuance Of serial bonds by said, city,
providing the purpose for and the
manner in which same may be is
sued. and the duties of the City
Council of the City of Shreveport,
with reference thereto; and the levy
ing by the City Council of Shreve-
port Of certain taxes to retire the
bonds as issued herein, by said city:
and providing for the submission Of
said amendment to the electors of
the State for their approval or re-
lection.
BE 1t enacted by the General Assem-
bly, of the State of Louisiana, two
thirds of the members elected to each
branch thereof ~concurring, that, sub
feet to the ratification and approval of
the electors of this State the Constf-
tuition of the State be amended by in
cooperating therein the following pro-
visions. to-wit:
Section /. The City of Shreveport.
by a four-ifths vote OF all the mem
bers of the City Council thereof, shall
have power and is hereby authorized
to issue 100000 Of bonds, or SO much
thereof as may be necessary, to be
styled City of Shreveport Serial Gold
Bonds, and to bear such rate of inter
est as the City Council may fix from
time to time, as each installment Of
the said bonds Is offered for sale, as
hereafter provided; said rate of inter-
est at no time to exceed 5 per CEN
per annum, payable semi-annually.
Section 2. The proceeds of said
bonds shall be applied to the pay
ment and retirement of all certificates
OF Indebtedness issued by the City Of
ChrauAnarf prinr ta May OF and
TO the payment of all judgments en-
dered against said city prior to May
/. 1915.
Section 8. All bonds issued under
this amendment shall be in such form,
terms and denominations. and payable
at such times and places, within a Pc
Rod of not eSceedin~ fortv years from
the date thereof, as the City Council of
Shreveport shall determine. Said
bonds shall be issued in serial form
nj shall be payable in annual in
staIlments, commencing not more thar
one year from their respective dates,
and the ~installment payable in each
year shall be so fixed that when the
annual interest is added thereto, the
several annual total amounts of prin-
cipal and interest to be paid shall be
as nearly equal as practicable.
Said bonds shall he signed by the
Mayor and the Secretary-Treasurer of
the City Of Shreveport, and counter
signed by the Commissioners of Ac-
counts and Finances. and the p
shall have the facsimile signatures
of tire Mayor as1d Sacretary-Treasurer.
In case any such officer whose sigma
ture or counter-siSnature, who APP
pears on such ond or coupon, shall
cease t. he such officer before de1ir-
ery of said bono or coupon to the pur-
chaser, such signature or counter-sig-
nature shall nevertheless be valid for
al purposes.
Section 4. The principal and inter-
est or all bonds authorized by this
amendment shall be payable in gold
coin of the United States of America
or its equivalent, of the standard
WEIGHT and fineness at the time of the
issuance thereof. ard shall be exempt
from all forms of taxation.
Section S. The fun faith and credit
Of the City of Shreveport are pledged
for the payment of principal and in
tfrest OF all bonds issued under this
amendment The PR and inter
est Of all bonds auft id and IL be
fsFutd under this am. - sant shall be
r"fd ont of tax whict II be levied
annually by the e. Council OF
f~eveport, upon all t4Yauf- property
"a said city, sufficient & nroVide for
The payment Of the pFE1GepsI cn5 ipv
terest of said bonds as they FeSPeefive-
f become due. The tax 50 lpgiui Is tc
ne IN excess Of the gener&! asgd specsa
tTes provided for elseAlsrs iii this
Constitution, and is not "a na affected
ls nor to affect the lirnttaua is else.
where contained in tse Substitution
as 70 the Issuance of Bonds, and thu
leyginG of taxes by munt2tpe atiez
Section 6. The provisG,0z hsleaf
are self-operative, and the Guy Coz.
eli OF Shreveport may b. fdlnal b
carry them into effect.
Be It further enacted. ste, rhat T. 3
amendment proposed by Ais 4
snail be submitted TO The eg .sctora {
the State for their app9oFa{ or reJl-
Ion at the CongressioElai Z eetioa 10
pc held on the first T6esd,sr after the
nrst Monday in the month Il NoveYH-
Der. 1916; and there shall je printed
On me official ballot "a ho Z ed IN sAid
tteet42A the words. "Fo" AID pro39std
e~.tsadtasut TO the CeAss'.' ion OF tFe
STATE OF Louisiana prove IS fos 10