The Meridional. (Abbeville, La.) 1856-1906, 1892-02-20


/ proval or rejection, as provided in article
two hundred and fifsy-six of the constitution
and if adopted the said amendment shal
read as follows: Article on levees, schools
charities, pensions, drainage, lotteries and
/ general fund. In aid of the leyees, schools
| charities, pensions, drainage and genera
! fand 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 aud assigns, are
hereby authorized and empowered for the
! term of twenty five years ensuing the first
day of January, 1594, to prepare schemes o!
lotteries, to sell lottery tickets and to draw
aud conduetioeteries in, this state. Said sun
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 instaliment shall be
paid on or before the first days of January,
April, July and October in each and every
year during said term; and tbe 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 Big
article two hundred aud twenty-four of the
constitution.
To levees: Three hundred and fifty thou
sand dollars annually, payable quarterly in
shall be distributed among the leVee dis
triots Of the state or applied TO leVee pur-
poses in the proportions and in the manner
provided By law for the distribution and ap-
plication of the one-mill tax levied under
article 213 of the constitution.
To charities: One hunGred 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 tor 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, eiti-
zens resident in Louisiana.
To the city of New Orleans, for drainage
and other sanitary purposes: One hundred
thousand dollars annually, payable quarterly
in advance, as above provided, the expendi-
ture OF said sum, and the management and
control of the same to ba determined by the
General Assembly, which is hereby directed
TO carry into 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 pHr-
poses hereinbefore stated. anu the General |
Assembly is hereby directed to carry into
Effect this provision by appropriate legisla-
lion.
Said John A. Morris, his heirs or agents
shall within twenty dayssfrom the date OF the |
adoption of this article file in the Office of I
he Secretary of State written acceptance
by him or them of this contract And for
the protection of the state and the security
1f the public this contract is made upon the
Express condition that said John A. Morris,
lis heirs or agents shall within thirty days
rom the date Of the adoption of this article
lie in the office of the Secretary OF State a
i'll Writing, signed by him or them
md six other persons, signifying their con-
'ent to form the corporation hereinafter
named, and the said John A. Morris shall
lie Herewith his bond with good and solvent |.
If FIVE million dollars said bond to be in IA
7or of and accepted by the Auditor of the +
'tate. The condition OF said bond shall be
hat the said Morris, his agents on assigns.
hall pay to the state of Louisiana the said
,um Of tbirty-one million two hundred and
ifty thousand dollars at the date and in the
manner herein set out, and shall faithfully
perform all the obligations herein contained.
md thereupon the persons signing the said
declaration shall be thereby constituted 8
under the name and title of
The Louisiana Lottery Company whereof
be capital stock shali be five million dollars,
epresented By fifty thousand shares of one
andred dollars each, at least twenty per
ent. thereof to be forthwith fully paid up,
nd which corporation shall Be and continue
uring the period of this contract, and shall
ave all the rights and powers possessed by
orpora!ions 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, aud Tor
II prizes to be drawn in said lotteries, and
hall De entitled to receive semi-anaually
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, aud the business authorized
" this contract, and the revenues aud re-
eipts thereof, shall be exempt from all taxes,
Iues, assessments, inlpositions and licenses
+ any kind whatever, whether state, parish,
aunlcipal or otherwise.
The powers Of said corporation shall be
ested in board of directors, to consist of
even persons, who may mako and establish
ules ana bylaws for the proper manage
nent aud regulation Of It's affairs. The per-
ons signing said declaration shall consti-
ute the frat board Of directors. and shah