St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1892-01-23

fund herelnaftes named, tie following
contract = now na6e. II c0nsidera-
/ tion Of TIE sum Of thiFsy-one millions
two hundred and fifty thousand dollars
to be fully secured ard paid - herein
after 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, 1884, to prepare schemes
| of lotteries, to sell lottery tickets and TO
draw and conduct lotteries In this State.
Said sum shall b paid to the Treasurer
Of the State By the persons conducting
the business pursuant to this contract,
In one hundred equal installments,
whereof each installment shall be paid
on or before the Arst days Of January,
April, July and October In each and
every year during aaid term; and the
Treasurer upon the receipt of each of
said ilnstallments shall apply the same
a follows:
TO THE PUBLIC SCHOOLS OF
THE STATE+Three hundred and fifty
thousand dollars annually, payable
quarterly In advance, "a above pro-
videti, which sum shall be distributed
to each parish In the proportion pre-
scribed by article two hundred and
twenty.four of the Constitution.
To LEvRES6Three hundred and
fifty thousand dollars annually, payable
quarterly in advance, rs above pro-
vided, which sum shall be distributed
among the Levee Districts of the State
or applied to levee purposes in the pro
portions and In the manner provided by
law for the distribution and application
of the one mill tax levied under Article
Els Of the Constitution.
10 CHARTTlBSLOne hundred and
flfty thousand dollars annually, payable
quarterly In advance, q above provided.
Of which sum eighty thousand dollars
shall be applied to the hospitals estab-
llshed by the State; forty thousand dol
lars to State insane asylums; twenty
i've Thousand dollars to State institu-
lions for the deaf, dumb and blind; five
thousand dollars to the Soldiers Home.
To PENSIONS-Fifty thousand dol
lars annually, payable quarterly in adj
vance, - above provided, to the PEN
sioning Of disabled, iDhrm, or INDECENT
Confederate soldiers, citizens resident
OF Louisiana.
To THE CITY OF NEW ORLEANS,
FOR DRAINAGE AND OTHER SAM
TARY PURPOSES hundred thou
sand dollars annually, payable quarter
" In advance, q above provided, the
expenditure of said sum and the man.
be determined BY the General Assembly,
IA ID int
effect this provision by appropriate
legislation.
TO THE GENERAL FUND-rwo
hundred and nifty thousand dollars an
nually, payable quarterly In advance, as
above provided.
The several sums Of money above
specified shall be devoted to the objects
and purposes hereinbef0re stated. and
the General Assembly II hereby direct
ed to carry into effect this provision by
appropriate legislation.
Said John A. Morris, his heirs or
agents, shall within twenty days from
the date Of the adoption of this article,
hle In the ONCE Of the Secretary OF
State written acceptance by him or
them Of this contract, and for the pro-
lection Of the State and the security of
the public, this contract il made upon
the express condition that said John A.
Morris, his heirs or agents, shall within
thirty days from the adoption of this
q 'ticle 1lle In the once Of the Secretary
Of Stat Q . declaration In writing, signed
by him or them and six other persons,
signlfying their consent to form the COR
pOratiOn 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
i've million dollars, said bond to be in
favor Of and accepted by the Auditor
Of the state; the condition of said bond
shall be TIT the said Norris, his agents
or sssignS, shall pay to the State of
Louisiana the said sum Of thirty-one
million two hundred and nffy thousand
dollars ct the dates and In the manner
herein set out, and shah faithfully per-
form Ill the obligations herein contain
ed; and thereup0n the persons signing
the said declaration shall be thereby
constituted . corporation under the
name and title Of 1.-THE Louisiana Lot
terry Company" whereof the capital
stock shall be five million dollars, REF
resented by flfty thousand shares of one
hundred dollars each, at least twenty
per cent. thereof to be forthwith fully
paid up, and which corporation shall he
and continue during the period Of this
contract, and shall have all the rights
and powers possessed by corporations
generally, a 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 all prizes to be drawn in said
and shall be entitled to re-
ceive semi-annually from the persons
the business under this con-
tract Afty 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 thou
sand dollars, In installments - afOre-
said, said corporation and the shares
Of stock therein and the business auth
0fi1ed by this contract and the revenues
and receipts thereof, shall be exempt
from all taxes, dues, assessments, i'm
positions and licenses Of any kind what
ever, whether State, parish, municipal
or otherwise. The powers Of said cor
porstion shall be vested In q board Of
directors TO consist Of seven persons,
who may make and establish rules and
bylaws for the proper management and
regulation Of it's aaairS. The persons
signing said declaration shall constitute
the first board Of directors and shall
serve for the term Of one year from the
time Of the fling Of said declaration
and until their Successors are duly APP
pointed.
All lotteries other than those author
lied by this article are prohibited i'm
this state, unless by similar amend
ment to this Consultation and for not
less than one million two hundred and
Afty thousand dollars per annum. All
provisions Of the Constitution and laws
Of this State Inconsistent or in any way
conflicting with this axtirie are declared
TO be superseded hereby.