Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-09-30

Senate Bill No. /.
JOINT RESOLUTION

i.
JOINT RESOLUTION.
Proposing amendment to the Consultation
of the State of Louisiana, authorizing the
Worlds Panama Exposition Company to
issue bonds and pledge the tax which is
Act No Two la) Of the Acts Of the ne
General Assembly of 1910 as we'll as
further tax in the City of New Orleans, to
be levied and collected only after the tax
levied under the above resolution has
lapsed
Section. !. Be it resolved by the General
Assembly of the State of Louisiana in extra
ordinary session convened, two-thirds of all
the members elected to each house concurring
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
day of November, 1910, as follows:
In order that the tax authorized 70 be
levied by the Constitutional amendment pro
ISs regular SS Act session ao p cf of the
OF the State of Louisiana for the wear I9I o
may, when ratified by the qualified electors
Of the State be made Immediately available
for the purpose Of constructing an s.posi.
ton to commemorate the opening of the
Panama Canal. the Worlds Panama tx.
position Company be and 4 is hereby auth.
the United States shall designate the City
OF New Orleans ~ the location for an eI.
position concentrating the. opening Of the
in principal Six Million Five Hundred Thou.
sand ($6. 500. 000) Dollars, to bear Q rate Of
interest not exceeding four per centum q per
to be sold for not less than par and nd" to ts 3:
due and payable In not longer than fifty
S5o) years, payable at the Treasury Of the
the payment of said bonds, the tax proposed
by the joint resolution embodied in Act No.
Two CD Of the Acts Of the regular session
81 o. the G ta|n assembly o. Loui.ians for
matter levied exclusively in the City Of New
Orleans. be and the same are hereby pledged
for the payment Of said bonds in principal
and interest, the said pledge of said tax
shall be deemed . valid and binding pledge
and contract.
The bonds herein authorized to be issued
shall be registered with the Auditor Of the
State of Louisiana, and there shall be written
or printed the following across the face Of
This bond in principal and interest IL
secured by the levy Of special tax auth.
orized by amendments to the Constitution Of
which shall have afixed thereto the signature
of the Auditor In his Official capacity and
bear the impress Of the seal of his office.
bonds when thus certified to the world
Panama Exposition Company, which company
Is authorized to sell the same for not less
chaser s:n par sS, sna tn:
price directly to the Treasurer Of the State
Of Louisiana, which funds when paid into
the Treasury of the State shall only be paid
for the construction. equipment and main.
tenance of the exposition and shall be dis.
bursed upon the warrant Of the World 3
the Governor. Treasurer and Auditor Of the
State Of Louisiana, or any two of them.
All expenses, commission or brokerage in
cident to the sale of said bonds shall be
Panama
Company out of other funds belonging to
said compsNy, and no part of the Six Million
Five Hundred Thousand Csc $500, OO0) Dollars
shall be used for such purpose. but the full
face of such bonds must be received and
paid into the Treasury Of ~ State Of Louis.
lana as above provided.