New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1910-10-01
ACT No. 2
Senate Bill No I
JOINT RESOLUTION

Proposing an amendment to the Constitution
of the State of Louisiana authorizing the
World s Panama Exposition Company to
issue bonds and pledge the tax which is
proposed by joint resolution embodied in
Act No. Two t2) of the Acts of tho
General Assembly Of 1910, well q
further tax in the City Of New Orleans to
be levied and collected only after the tar
levied under the above resolution hsa
lspsed.
Section. l. Be it resolved by the General
Assembly Of the State Of Louisiana in extra
ordinary session convened, two-thir(/ of all
the members elected to each house cfcurrins
therein, that an amendment to the Consti-
tuition of the state Of Louisiana be submitted
to the qualified electors Of the State for their
approval or rejection, as required by Article
321 Of the Constitution Of the State OF Louis
lana. at the congressional election to be held
on the Tuesday next following the first Mon.
day Of November, 1910, as follows:
In order that the tax authorized 10 bs
levied by the Constitutions amen dment pro
posed by Act No. Two ~ OF the Acts ot
the regular session Of the General Assembly
of the State Of Louisiana for the wear 1910
of the State be made Immediately available
for the purpose Of constructing an exposi-
tion to commemorate the opening ot ths
Panama Canal. the Worlds Panama EI-
position Company be and it il hereby auth.
orlzed wberL and not until the Congress Of
the United states shall designate the City
of New Orleans the location for an ex-
position commemorating the opening OF the
Panama Canal. to issue bonds not to exceed
in principal Six Million Five TIundr ! Thou
sand $500. 00Ol Dollars. to bear a rate u
interest not exceeding four per cpntum q ner
cent? per snnum to be paid scmi annually
70 be sold for not less than par and 70 bs
due and payable in not longer than fifty
t50) years, payable at the Treasury Of tho
State Of Louisiana and IN order to secure
the payment Of said bonds the tax proposed
by the Joint resolution embodied in Ac& No
Two ~ Of the Acts of the regniar seef on
Of the General Assembly Of Louisiana for
the year 1910, as well as further tax here
matter levied exclusively in the City ~ New
Orleans, be and the same are hereby pledged
for the payment Of snid bonds in principal
and interest. the said pledge Of said tax
shall be deemed valid and binding pledge
The bonds herein authorized 20 b. issued
by the World . Pauams Exposition Company
shall be registered with the Auditor Of the
State of Louisiana, and there shall be written
or printed the following across the face Il
said bonds
This bond in principal and interest j.
secured by thr levy of a special tax auth.
orized by amendments to the CInstItutiou Of
the State ~ Louisiana adopted in 1910 90
which shall have affixed thereto the signature
Of the Auditor in ais Official capacity and
bear the impress u the seal Of his orfce.
The Auditor Of the State shall deliver such
bonds when thus certified 20 the World :
Panama Exposition Company. which company
is authorized 20 sell the same for not less
than par a- above provided. and The pur-
chaser thereof shall be required 70 pay The
price directly to the Treasurer of the -ta'A
Of Louisiana which fund< when paid In -
the Treasury Of the State shall only be paid
out for the purpose Of securing site aud
for the construction equipment and main
teuaHee of the exposition and shall be dis
bursed upon the warrant 0f the Worlds
Panama Exposition Company. approved by
the Governor. Treasurer aud Auditor og tho
State of Lou sians. Or any two Of them
All expenses. commission or brokerage IN
cidsnt to the sale Of said bonds shall be
Company out of other funds beIorgln -
said company, sud no part ~ the Six Million
Five Hundred Thousand as 500 0g03 Dollars
shah he used for such purpose but tho full
fare II sgrh bonds must Be received and
paid into the Treasury of the state sf Louis.
lana as above provided