St. Tammany farmer., 1918-09-07

~ ouhs' At aIl tlmes from .sS s.s
source, q sum equal to one vs.ss4Esss sss|a
principal and interest upon tia .sfs.aa 4.
bonds, notes or certificates OF irazss Iasss Il
edness, and also sufficient to g. 49, 6
bonds, notes or certificates :;
debtedness issued hereunder 49,
shall become due and payable ~
ing the year next ensuing. Aftar - -
bonds, notes or certificates of inase4y rs
edness authorized hereby shan 49, ii
been issued and delivered. M 49, - as2
OF said State Highway Fund No I 81
Chef Menteur and Hammani.N.sa. :. 81
Orleans State Highways" shat.
applied to any of the purposes -. - -
thorized herein until the said "st..sSs I
Highway Fund No. 2, Chef Mert.ss u
and Hammond-New Orleana at.s.
Highway Bonds, Interest ana g.
demption Account" shall hav. - 49, 4
created, and the State Treasurer .hss. 81
have transferred into it. the fu,..
hereby directed to be transferred y 'ssS
Section 6. Be it further enactea. d
etc., That the proceeds Of the ssss.
OF all bonds, notes or certificates = 81
Indebtedness issued hereunder shsl, I
be used first to pay for the conxtraes 81
tion and completion of the Chef Man.
teur road and bridges in the Pariah..
OF Orleans and st. Tammany. sta,~s
OF Louisiana, and second, on ar5
after reserving and setting aside nv
amount necessary to pay for the ,.on...z
pletion OF the Chef Menteur road .ra
for building all necessary prid1ee d
therefor, to pay for the constructioa
OF the said public highway from 4
Hammond to New Orleans, and IA
building of all necessary bridrAs
therefor
Section Z. Be it further enattad
etc, That the Auditor OF the S,aIs /
of Louisiana shall keep a record Il
all bonds, notes or certificates OF In
debtedness sold or outstanding. And
shall keep an accurate account of al
such specially dedicated funds.
Section 8. Be it further enactafl
ETC., That the Board Of Liquidation
OF the State Debt of the State OF Lou
isiana shall let the privilege to be-
come depository Of the special funds
provided for under this Act and safd
Board shall have the discretion to le<
such funds under such terms ana
conditions as will provide an advan-
tageous negotiation OF the bonds.
notes or certificates of indebtedness
sold, and provide always ready funds.
for the payment of the principal and
interest of such bonds, notes or cer-
titicates of Indebtedness. All finds
collected under the provisions OF this
~ yrhi ho
dedicated to the said Estate HighWay
Fund No. 2, Chef Menteur and Ham-
mond-NewOrleans State Highways =
or which may hereafter be set apart
or dedicated for the construction and
maintenance of the above mentioned
highways, and all funds arising from
the sale of said bonds, notes or GER
tificates of Indebtedness, shall be de-
posted with the Treasurer Of the
State in a special fund as set forth;
to be paid out as herein provided.
and the Treasurer OF the State Il
hereby authorized to pay out Of said
fund, all interest coupons due upon
| the said bonds, notes or certificates;
of Indebtedness issued under the
terms of this Act, and all bonds,
notes or certificates of indebtedness
becoming due hereunder.
Section 8. Be it further enacted.
ETC., That the motor vehicle licenses
from the Parishes of Jefferson, st.
Charles, ST. John the Baptis7, Tan
s!I ahea, st. Tammany and Orleans,
collected after the bonds, notes or
certificates of indebtedness provided
for IN this Act are fully paid, prin-
cipal and interest, and after the high-
ways shall have been completed with
the funds dedicated for that purpose,
shall then revert to said parishes,
and shall be paid into their Tespee-
tive treasures in the same manner
as now provided for under Act No.
$50 of the General Assembly Of the
State of Louisiana for the year 1914,
/ and in the same manner as the said
motor vehicle licenses are turned
over to the other parishes of this
State, and thereafter said parishes
shall provide out of said funds so re-
verting to them the proper mainte-
nance of said highways; provided
further, that any portion Of the
Special Road Tax of one-fourth Of
one mill ON the dollar collected nm
der Article 291 of the Constitution
of 1913 from the Parish Of Orleans,
not set apart or dedicated to the
State Highway Fund No. 2, Chef
Menteur and Hammond-New Orleans.
State Highways" at the expiration
orany fiscal year shall revert to the
State Highway Fund as provided
for in Act No. ~ Of the General A.
sembly Of the State of Louisiana for
the year 1910, and be applied in such
manner as shall be now or hereafter
provided by law.
Section 10. Be 1t further enacted.
etc, That all laws inconsistent with
or in conflict with the provisions Of
this Act are hereby repealed.
Section II. Be 1t further enacted.
etc, That at the next Congressional
election to be held in this State on
the first Tuesday after the first Mon
day Of the month of November, 1918,
there shall be submitted to the e.ec-s
tors of the State the following
amendment to the Constitution, to-
wit:
The General Assembly shall pro-!
vide for the laying out, constructions
and maintenance of the Chef Mem
teur and Hammond-New Orleans
State Highways and shall provide, by
bond issue or otherwise, the financ-
ing OF the construction and compile
tion of said highways And all pro-
visions of the Constitution in conflict
herewith are to this extent repealed.
Int IN 80