The Comrade. (Winnfield, La.) 1890-1914, 1910-09-30
ACT No, Q
6ouaLe Dill NO. /.
JOINT RESOLUTION.

issue bonds and pledge the tax which is
Sy JOINT re So tho nf hs
further tax in the City Of New Orleans to
be levied and collected only after the tax
levied under the above resolution has
lapsed.
5s Section. l.. Be it resolved by the General
Assembly of the State of Louisiana in extra,
ordinary, session convened, two-thlrds 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
s2l of the Constitution Of the State OF Louis ;;
lana, at the congressional election to be held
on the Tuesday neyt following the first Mon.
day Of November, 1910, as follows,
In order that the tax authorized to DC
posed by Act No. Two (2) of the Acts OF |
the regular session of the General Assembly |
OF the State of Louisiana for the year 1910 |
Of the State be made Immediately available
for the purpose of constructing an eSpoS''
ton to commemorate the opening of the
Panama Canal, the Worlds Panama Fix
orized, when and not until the Congress, of
the United States shall designate the City
a. of New Orleans as the location for an eX-
. position concentrating the opening of the
in principal Six Million Five Hundred Thou
sand ($6.5o0 0o0l Dollars, to bear rate Of
interest not exceeding four per centum a per
cent? per annum to be paid semi annually,
E to be sold for not less than par and to be
due and payable in not longer than fifty
(50) years, payable at the Treasury of the
State Of is ma ana IN t6a x 10
by the Joint resolution embodied in Act No.
Two (2) of the Acts of the regular session
Of the General Assembly Of Louisiana for
u, the year 1910, as we'll as a further tax here
matter levied exclusively in the City OF New
Orleans, be and the same are hereby pledged
for fhe 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
by the Worlds Panama Exposition COMPANY any
State of Louisiana, and there shall be written
or, printed the following across the face OF
said bonds:
secured by the levy of special tax auth.
0rized by amendments to the Constitution Of
I the State of Louisiana adopted in 1870
J which shall have affixed thereto the Signature
bear the impress Of the seal OF his Office.
The Auditor of the State shall deliver such sue;
bonds when thus certified to the World S
Panama Exposition Company, which company
is authorized to sell the same for no, less
than par as above provided. and the pur-
4 chaser thereof shall be required to pay the
price directly to the OF the state tate
the Treasury Of the State shall only be paid
out for the purpose OF securing site and
for the construction, equipment and main
bursed upon the warrant of the World
Panama Exposition Company, approved BY
the Governor, Treasurer and Auditor Of the
State of Louisiana. or any two e OF them. -
cident to the sale Of said bonds shall! bt
paid by the Worlds Panama Exposition
Company out of other funds belonging III :. t
Five Five Hundred Thousand (ss,5oo, ooo) Dollars
shall be used for such purpose. but the full
face of such bonds must be received ant
paid into the Treasury OF the State OF Louis
lana as above provided.
II the amendment to the Constitution sub
United by Act No. Two ~ OF the Acts Q
the regular session of tho General Asse i!sl
by the pople then the entire amount OF sal
tax collected after the issuing Of bonds herel
@ IS provided for, shall be used exclusively for tn
Of paying te other anu
When the tax thus authorized ed, snail nav
% been lapsed by the terms Of said propose; se
amendment, then each year thereafter as ION ,
issued are outstanding, there shall be assesse
exclusively in the City Of New Orleans upoo
ell property subject to state taxaeioh' SUI, sun
and fraction of tho principal or fract!o
Of the principal collected Tor the create
w. of q sinking fund with which to eyentua II
essdine one and one-half (1k) mills sha
be assessed and collected during any on
year; and provided further, that if said ~ 2
Of one and onehalf or mills IS sa 1eu e,r;,
cipal Of said bonds at the maturity thereo
then this tax shall continue and be assesse
EST and collected until the entire amount dt
1893 on said bonds IN principal ana interest z
.4 y From and after the time the tax here
levied becomes operative, it shall be the du
OF the Treasurer Immediately alter she amy
City Of New Orleans, to fix the rate OF tax
ton to be imposed upon said property +
that sufficient to pay rt the in df :
prineipal due that year or the fraction
lie principal to constitute a sinking full
Tor the retiring Of said bonds !. Upon (. asce
tanning said amount, ne shall airee. .he e. q
ss SCISSOR or Board OF Assessors or such 0th
authority charged with like duty OF CT
of New Orleans, or Parish Of Orleans,
extend upon the assessment rolls such ra
Of taxation as will yield IN amount suficle
cipaI us afs5esaid provided that SAD !
shall not exceed one "a and onehar liM J.d MI
for any one year This INK shaii De asses
IN stl1e same manner es State taxes are G
iected and shall be paid by the colleetc
directly to the Treasurer OF the state
hprse tha Same to the holders Of the bon
herein provided for, in payment OF the
4 serest and principal due on said bonds. up
The presentation to him OF the bonds OF
~ interest coupons as the case may be.
# AN funds arising hereunder which 60 II
Aha State Treasury whether same nave pc
S.s realized from the sale of said bonds or fr
The levy and collection of any tax or tai
heren referred to shall by the Ireasur
TEX Ia deposited in tho same depository, IL
same manner, at the same rate OF inter
and upon the same terms ana CONDITIONS
are Sofher State funds and all interest
srn;ng upon said deposits shall be credit
NJ Ia The particular fund from which the
terast Vas derived, and shall be used
fise same purpose for which the principal
said sum is intended.
The bonds herein authorized and the
levied and collected and pledged LOT
Snaxment Of said bonds shall constitute
valid and binding contract and ths i Iaatn J.
tha State OF Louisiana is pledged TO the 9
finuous collection Of said tax. authorized
,snid Constitutional amendments, until
s,.al pnynlent OF all of said bonds IN pl
8 cissal and interest Said bonds shall
sxeY,rt from all taxation. State, Parish, 9
Wunicipal and the tutors OF minors and Gu
tfnra al interdicts are authorized TO Inv
.shs funds in their hands IN said bonds.
ANY time after FIVE years shall nave lap
essraf, the date OF tho issuance OF the BOZ
herein authorized, tho Treasurer OF dhs st
III Loufqlana shall at any interest pay
ssariod be- authorized to apply the siak
OF: auY cHS6tSuQ