The Meridional. (Abbeville, La.) 1856-1906, 1892-04-02

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read as follows: Article on levees, schools,
charities. pensions, drainage, lotteries and
general fund In aid of the levtes, schools
charities. pensions, drainage and general
fund hereinafter named, the following con-
tract is now made: In consideration of the
sum Of thirty-une millions, two hundred aud
fifty thousand dollars, to be Iully 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
dey OF JanuaFy 1891, 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 installment shall be
paid on or before the first days of January
April, July aud October in each and every
year during said term; and the treasurer
upon the receipt of each of said instaiiments
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 Ievees: 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-
plication 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-
lions for the deaf dumb and blind, and five
thousand dollars 10 the Soldiers Home.
re pensions: Fifty thousand dollars annu-
ally, payable quarterly in advance, as above
provided, to the pensloning of disabled, in-
firm or INDECENT confederate soldiers, citi-
zens residens 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 espendl-
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 Into effect this provision by appro-
pirate legislation.
T, 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 pEs-
poses hereinbefore stated, and the General
Assembly is hereby directed TO carry into
effect this provision by appropriate legisla-
ton.
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
file in the office of the Secretary OF State a
declaration in writing, signed by hlnl or them
and six other persons, signifying their con-
sent to form the corporation hereinafter
named and the said John A. Morris shall
file Herewith his bond with good and solvent
sureties, residents of this state, in the sum
Of five million dollars, said bond to be in IA
vor of and accepted by the Auditor of the
state. The condition of said bond shall be
that the said Morris, his agents or assigns,
shall pay TO the state of Louisiana the said
sum Of thirty-one million two hundred and
fifty thousand dollars at the date and in tho
manner herein set out, and shall faithfully
perform all the obligations herein contained.
and thereupon the persons signing the said
declaration shall be thereby constituted
corporation under the name and title Of
"The Louisiana Lottery Company" whereof
the capital stock shall be five million dollars
represented by fifty thousand shares of one
hundred dollars each, at least twenty per
cent. thereof to be forthwith fully paid up,
ana which corporation shall be aud continue
during the period OF this contract, aud shall
have ali the rights and powers possessed by
corporations generally as defined by the
present civil code of the state, and shall be
liable for the moneys herein directed to be
paid to the Treasurer of the state, and for
ell prizes to be drawn in said lotteries, and
shall pe entitled to receive semi-anuually
from the persons conducting the business
under this contract fifty per cent. of the net
profits of the said business.
And in consideration of the payment of
said sum of thirty-one million two hundred
and fifty thousand dollars in iustallments as
aforesaid, said corporation and the shares Of
stock therein. and the business authorized
by this contract and the revenues and re-
ceipts thereef. shall be exempt from all taxes,
fiues, assessments. impositions and licenses
OF any Kind whatever, whether state, parish,
municipal or otherwise.
The powers of said corporation shall be
vested in board of directors, to consist of
seven persons, who may make and establish
rules and by laws for the proper manage
ment and regulation OF its affairs. The per-
sons signing said declaration shall eonsti-
tute the first board of directors, and shall
serve for the term Of ole year from the title
of the filing of said declaration and Until