The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1916-09-09
CONSTITUTIONAL AMENDMENTS.
ACT NO. e..
House Bill No. by Mr.. Byfhe'


of the Board Of directors Of the Pubic
Schools, Parish of orleans, fespectlp ~ "a
ly; the issuance of serial bonds by sadu
city, the purpose for ana inc lliaiit ne
IN which same may be issued ana the
duties and functions OF Lne Doll e "a
Liquidation, City Debt, WIN rsIefe sit
of New Orleans and the Board of
School Directors, PARISH oL 81 Siie rrai,,
respectively, of certain taxes Tor gen
erai municipal and scho9l Rs saInn 81
ana providing for the suDIInssiotH -
said amendment to the electors " ~, tne
state for their approval or reJe a,tlfix
Be it enacted by the General A Ii,e,i ~
of the state OF Louisiana, TWO tIili 3 - "
all the members elected 10 each ne ase
eoncurring, that subject to the fatitlc ca :
iion and approval OF the electors % 'i ne
state, the Constitution OF the StdLS pe
amended by Incorporating therein the Ios-
lowing provisions, to wit. 49,
section /. The City of New orleans, Dy
OF the Board of Liquidation, City Debt,
approved by resolution OF the CoIIllilssiiotL
Council, or its successor as the governing
toue of two-thirds Of all members OF sac, sac
council or governing Dody, sna ~ ; sses g
power and is hereby authorized to issue
Nine Million Dollars $4,000, go95 OF e Sara
Cold Bonds" and to bear such fate e., t VI
interest as the Board OF Llqu!datlon' City
Debt, may fix from time to tl1ne as eac sl.
lnstaIlment OF said bonds is oleFeo tor
sale as hereinafter provided 700
section q Three Million Dollars ($S,-
100000 IN par value or the p ,anG,,
shall forthwith be sold. .,,.
The proceeds of said three mlillon
dollars of bonds shall be applied eAciu-
siyeiy to the following purposes anu IN
the following order.
(a) The payment OF the outstanding and
unpaid school Teachers Salary Bonds OF
the City OF New Orleans, issued under
Act No. 2 of the General Assembly! OF the
state OF Louisiana for the year 1916, winch
bonds shall be called for payment ana
paid as soon as practicable, - ~,
tb) The payment OF The principal u LIE
floating indebtedness of the Board OF Dl-
rectors of the Public Schools, Parish OF
Orleans, evidenced by note or notes out
standing at the time OF the ADOPTION OF
this amendment to an amount not eA,
ceeding Six Hundred and Fifty Thousand
Dollars (s650,000)s provided that, IN the
event that said Indebtedness or any part
thereof shall have been PAID by sald
Board out of its current revenues pre-
vious to the adoption of this amendment
the amount thus paid mot to exceed Sb5o,-
900, however,, shall be paid over in cash
TO said Board to be used by it for school
purposes, as provided by law;
(c) The payment OF the sum OF Five
Hundred Thousand Dollars ($500, 10000, with
interest thereon, borrowed by the City OF
New Orleans for storm emergency pur-
poses in the year 1915;
(d) The payment OF the =oVefuraIC OF
other Indebtedness due by the CITY OF New
Orleans to its fiscal agents or other banks
representing loans or advances made by
them to said city, other than those re-
ferred to in paragraph (c) of this section,
TO an amount not exceeding in principal
and interest the sum OF One Million Three
Hundred and Fifty Thousand dollars
l$1,350,000); and
(e) The balance of saio proceeds shall
be used and employed by the Board of
Liquidation, City Debt. for the payment ,e en- t
City OF New Orleans, as set forth ~
Section 3 of this amendment.
section g.. The remainder Of the bonds
authorized by Section / of this amend
inent, or SO much thereof as may be
necessary, shall be sold. from time to
time, i'll sach amounts as the Board OF
ana the proceeds of the sale thereof shall
be applied by said Board to the payment
Of Public Improvement Certificates au,
thorized by ACT No ~ OF the Genera RAJ
the year 1908, and acts amendatory there
OF, and presently outstanding or issued
at any time in payment of any contract
made before this amendment takes effect,
at their respective maturltles or when
said maturitles can be anticipated upon
terms satisfactory to said Board.
ments thereto, as weHss all statutes upon
the same subject and SO Much of Acts
No. 12S and No. 20 Of the General AS
sembly of the State of Louisiana for the
year 1910 and other statutes on the same
subject matter, as may affect, apply or
pertain to the City of New Orleans, be
ana the same itTS hereby ftpGdlSu, never
theless PUBLIC improvement Certificates
may be issued in the manner provided by
said Act No. Sc of 1908. and amendments
thereof in payment of any contract made
before this amendment takes effect.
Section 4. The City of New Orleans
may also issue and negotiate it's bonds
when authorized by a vote of a majority
in number and amount of the property
taxpayers, who shall have been assessed
for property in said city as shown by the
last assessment made prior to the submis-
Nnr~f
taxpayers and who are otherwise qualifled
to vote under the Constitution and laws
OF this State, voting at an election called
by ordinance adopted by a vote of two
thirds of all the members of the Commits
sion Council, or its successor az the gov
erning body Of said City of New Orleans,
election is ordered shall be also adopted
by a vote of three-fourths of all the menu
bers of the Board of Liquidation, City
Debt Due notice of said election shall be
published for thirty days in the official
journal of said city -four weekly insertions
of said notice constituting a publication
for thirty days, providing thirty days in
tervene between the date of the first
insertion and the date of said elechon).
No bonds shall be issued under this
section for any other purpose or Tor any
mission of the proposition to said tax
payers.
Section 5. In case of fire, flood, pesti
lence, storm or other PUBLIC calamity, the
by a two-thirds vote of all the members
of the Commission Council, or it's sue
cessor as the governing body of said city.
concurred in by a three-fourths vote of
all the members of the Board of Liquida
ton, City Debt, to borrow money and
issue and negotiate bonds in such sum,
not exceeding Five Hundred Thousand
Dollars {s500,00o), as shall be necessary
in any one such emergency.
Section 6. For the purpose of refunding
all or any part OF the bonded Indebtedness
of the City OF New Orleans existing at the
time of the adoption OF this amendment
bonds may from time to time be issued
and negotiated. When any of the issues
OF the bonds OF said city outstanding at
ment shall become callable according to
their terms or the statutes under which
they are respectively issued, or when the
consent of all the holders of any such
issue of bonds can be secured, the Board
Of Liquidation, City Debt, shall have the
right in its discretion to call and pay any
one or more of said issues of bonds and
shall be authorized by resolution duly
adopted TO issue and negotiate bonds to
provide the funds necessary for that
purpose. providing. however. that in no
event shah the par value of the bonds so
sold and negotiated exceed the par value
II the bonded Indebtedness thereby to be
-efunded.
he payment of the principal and interest
If all bonds issued under this amendment. |
The principal and interest of all bonds |
and to be issued under this |
shall be paid primarily out of |
ID that one-ha1f of the surplus of the one |
Ter cent debt tax which heretofore has |
been dedicated for the support and main |