Present Constitution prohibits the funds, credit, property or things of value of the state or of any political subdivision from being loaned, pledged or donated, except as otherwise provided by the present constitution and provides certain authorized uses of public funds.

Proposed Constitutional Amendment retains present constitution and authorizes the sale of property located in the Lower Ninth Ward of the city of New Orleans by the governing authority of the city of New Orleans to qualified purchasers as provided by law at a price set by the legislature.