New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1910-09-10
ACT No. 2


JOINT RESOLUTION
Proposing an amendment to the Constitution
of the State of Louisiana, authorizing the
Worlds Panama Exposition Company to
issue bonds and pledge the tax which il
Proposed By joint resolution embodied in
General Assembly Of 1910. as well as
further tax in the City Of New Orleans, to
be levied and collected only after the tax
levied under the above resolution has
Section. 1. Be it resolved by the General
Assembly Of the State Of Louisiana in extra.
the members elected to each house cS1curring
therein. that an amendment to the Consti
tuition Of the State of Louisiana be submitted
to the qualified electors of the State for their
321 Of the Constitution of the State Of Louis.
iana, at tho congressional election to be held
day Of November, 1910. as follows:
In order that the tax authorized to 70
levied by the Constitutional amendment pro.
the regular session Of the General Assembly
Of the State Of Louisiana for the year 1910.
may, when ratified by the qualified electors
Of the State be made Immediately available
for the purpose Of constructing an exposi.
ton to commemorate the opening Of the
Panama Canal the Worlds Panama Ex-
orised, when and not until the Congress Of
the United States shall designate the City
Of New Orleans as the location for an
position commemorating the opening Of the
in principal SIX Million Five Hundred Thou.
sand CSC 500 0O0l Dollars. to bear rate VI
cent? per annum to be paid semi annually.
to be sold for not less than par and TO be
due and payable in not longer than Atty
(50) years. payable at the Treasury OF the
state Of Louisians; and in order to secure
the payment Of said bonds, the tax proposed
by the joint resolution embodied in Act No.
Of the General Assembly of Louisiana for
the year 1910 as well a. further tax here.
matter levied exclusively in the City Of New
for hs .S bond. IN
and interest. the said pledge Of said tax
shall be deemed . valid and binding pledge
and contract.
The bonds herein authorized to be issued
by the Worlds Panama Exposition Company
shsll be registered with the Auditor Of the
State of Louisiana, and there shall be written
cr printed the following across the face Of
said bonds:
This bond in principal and interest Is
secured by the levy OF n special tax auth
orized by amendments to the Constitution Of
the State OF Louisiana adopted in 1910"
which shall have affixed thereto the signature
of the Auditor in his official capacity and
The Auditor Of the State shall deliver such
bonds when thug certified to the Worlds
is authorized to sell the same for no. less
chaser thereof shall be required to pay the
price directly TO- the Treasurer Of the State
Of Louisiana, which funds when paid into
the Treasury of the State shall only be paid
ont for the purpose Of securing 4 site and
tenance Of the exposition and shall be dis.
bursed upon the warrant Of the Worlds
Panama Exposition Company approved bv
the Governor. Treasurer and Auditor Of ths
State Of Louisiana. or any two of them.
All expenses. commission or brokerage in.
cident TO the sale Of said bonds shall ns
Company ont Of other funds belonging To
said company and no part Of the six Million
Five Hundred Thousand fss 500. ooo) Dollars
SHAH be used for such purpose. but the full
face Of such bonds must be received and
paid into the Treasury of the State Of Louis.
lana ~ above provided.