The Caucasian. (Shreveport, La.) 1900-192?, 1909-12-07
THE FAIR GROUNDS
Offered to the City for Park-The
Property Is Desirable and Valuable.

A number of the stockholders of the
State Fair Association have been con-
sidering for some time the .advisability
of offering the Fair grounds tract to
the city for park.
1t is proposed that the city shall ac-
quire this tract and make of it park
which is to be opened to the public at
all times, with the exception of one
month preceding the holding of the
| Fair, when it shall be under the control
of the Association.
In Dallas, for instance, the Fair
ground is owned by the municipality and
the Fairs are managed by the State Fair
Association.
It will not be gainsaid that the people
must have recreation and some place of
amusement, and this can be secured as
planend by the Fair Association, and
discussed informally by a number of
directors.
Ii is proposed that the city shall ac-
quire the Fair grounds, embracing 70
acres, and secure an additional IS acres
| for which there will be voted forty-year
bonds aggregating $4,000 To meet this
issue there will be provided one-fourth
of a mill tax per annum, or so much
thereof as may be necessary to pay the
interest and TO provide sinking fund
to meet the bonds when they shall be-
come due The city to take over the
lease of nine acres, being the Schun-
pert 25-year lease, for the term of the
lease, said nine acres adjoining the Fair
grounds, and forming part of it.
AS explained by President Bolinger,
the bonds, when so voted to be nego
tiated and the proceeds used to pay the
purchase price of the land and for the
taking over of the Schumpert lease
aforesaid, provided, however, that the
purchase price aforesaid shall imme-
lately be used as follows, and not 9TH
,rwise:
Pay off all of old debt, $4,000; pay
price of additional rs acres, $4,000;
immediate Improvements on buildings
llready erected $1,000.
City taxpayers to vote an additional
quarter of mill for ten years to be
used for permanent improvements to be
placed on the land SO purchased, as
above
All of the Clingnan tax to be used as
follows: For running expenses up to
next annual Fair $1,000; for building
concrete walks and drives 5000; bal
ance for necessary betterment of build
ings $4,000; to this item should be added
lot less than $1,000 more.
The State Fair of Louisiana shall be
required to apply each year half of all
the profits to improving the grounds
with buildings, etc The other half of
profits shall be held as sinking fund
to provide for any bad year to avoid
possibility of getting in bad financial
condition.
The stockholders of the State Fair of
Louisiana are to surrender their inter-
est in the property, but retain their
stock, for which they are to receive IN
turn as follows:
For IS shares, one season ticket an
nual1y for ten years. If they hold more
than rs shares, they are to receive sea-
son tickets in proportion on basis of
$3.50 in stock for each season ticket
Each share of stock to represent
vote by the stockholder at the stock
holders meeting, who are to elect the
directors, and they in turn to elect the
officers.
Each stockholder having stock in the
State Fair of Louisiana will receive the
full value of his stock in season tickets,
and as soon as the amount in accordance
with this stock is issued in season tick
cts, in order to become a stockholder of
the State Fair of Louisiana again, it
will be necessary to subscribe for what
ever. amount of stock is desired by any
individual.