The Meridional. (Abbeville, La.) 1856-1906, 1892-04-09

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and if adopted the said amendment shall
read as follows: Article on levees, schools.
charities, pensions. drainage, lotteries and
general fund. In aid of the levees, schools
charities, pensions, drainage and general
fund hereinafter named, the following con-
tract is now made: In consideration of the
sum of thirty-one millions, two hundred and
fifty thousand dollars, to be fully secured
and paid as hereinafter provided, John A.
Morris, his heirs, agents and assigns, are
hereby authorized and empowered for the
term of twenty-five years ensuing the first
day of January, 1894, to prepare schemes of
lotteries, to sell lottery tickets and to draw
and conduct lotteries in this state. Said sum
shall be paid to the treasurer of the state by
the persons conducting the business pursu-
ant to this contract in one hundred equal in-
stallments, whereof each instnllment shall be
paid on or before the first days of January,
April, July and October in each and every
year during said term; and the treasurer
upon the receipt of each of said installments
shall apply the same as follows:
To the public schools of the state: Three
hundred and fifty thousand dollars annually,
payable quarterly in advance. as above pro-
vided, which sum shall be distributed to each
parish in the proportion prescribed by
article two hundred and twenty-four of the
constitution.
To levees: Three hundred and fifty thou
sand dollars annually, payable quarterly in
advance, as above provided, which sum
shall be distributed among the levee dis
tricts of the state or applied to levee pur-
poses in the proportions and in the manner
provided by law for the distribution and ap-
plicstion of the one-mill tax levied under
article 213 of the constitution.
To charities: One hundred and fifty thou
sand dollars annually, payable quarterly in
advance, as above provided, of which sum
eighty thousand dollars shall be applied to
the hospitals established by the state, forty
thousand dollars to state insane asylums,
twenty-five thousand dollars to state institu-
tions for the deaf, dumb and blind, and five
thousand dollars TO the Soldiers Home.
To pensions: Fifty thousand dollars annu-
ally, payable quarterly in advance, as above
provided, to the pensioning of disabled, in-
firm or INDECENT confederate soldiers, citi-
zens resident in Louisiana.
To the city Of New Orleans, for drainsgs
and other sanitary purposes: One hundred
thousand dollars annually, payable quarterly
in advance, as above provided, the expendl-
ture of said sum, and the management and
control of the same to be determined by the
General Assembly, which is hereby directed
to carry iuto effect this provision by appro-
pirate legislation.
To the general fund: Two hundred and
fifty thousand dollars annually, payable
quarterly in advance, as above provided.
The several sums of money above speci.
fed shall be devoted to the objects and p1r-
poses hereinbefore stated, and the General
Assembly is hereby directed to carry into
effect this provision by appropriate legisla-
tien.
Said John A. Morris, his heirs or agents
shall within twenty days from the date of the
adoption of this article file in the Office of
the Secretary of State written acceptance
by him or them of this contract. And for
the protection of the state and the security |
Of the public this contract is made upon the |
express condition that said john A. Morris,
his heirs or agents shall within thirty days |
from the date of the adoption of this article |
d!e in the Office of the Secretary oil State a |
declaration in writing, signed by him or them |
and six other persons, signitying their con-
sent to form the corporation hereinafter |
named, and the said John A. Morris shall |
lie Herewith his bond with good and solvent
'ureties, residents of this state, in the sam
IF five million dollars, said bond to be in fa-
7or of and accepted by the Auditor of the |
state. The condition of said bond shall be
hat the said Morris, his agents or assigns,
hall pay to the state of Louisiana the said
yum of thirty-oue million two hundred and /
fifty thousand dollars at the date and in the
manner herein set out, and shall faithfully
perform all the obligations herein contained.
md tbereupon the persons signing the said
declaration shall be thereby constituted
corporation under the name aud title of
The Louisiana Lottery Company" whereof
he capital stock shall be FIVE million dollars, |.
epresente6 " fifty thousand shares of one
nndred dollars each, at least twenty per
ent. thereof to be forthwith fully paid up,
nd which corporation shall be and continue
turing the period of this contract, and shall
ave all the rights and powers possessed by
orpoTations generally as defined by the
resent civil code of the state, and shall be
liable for the moneys herein directed to be
aid to the Treasurer of the state, and for
II prizes to be drawn in said lotteries, and
hall be entitled to receive semi-annnally
rom the persons conducting the business
nder this contract fifty per cent. of the net
rofits of the said business.
And in consideration of the payment of
aid sum of thirty-one million two hundred
nd fifty thousand dollars in installments as
foresaid, said corporation and the shares of
took therein, and the business authorized
y this contract, and the revenues aud re-
eipts thereof, shall be exempt from all taxes,
ues, assessments, impositions and licenses
f any kind whatever, whether state, parish,
lunicipal or otherwise.
The powers of SAID corporation shall be
ested in board of directors, to consist of
even persons, who may make and establish
ules and bylaws for the proper manage
lent and regulation of its affairs. The per-
ons signing said declaration shall eonsti-
ute the first board of directors, and shall
srve for the term of one year from the time