Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-09-02
ACT No. 3
Senate Bill No. /.
JOINT RESOI,uTION

senate Bill NO. i.
JOINT RESOLUTION.
Proposing an amendment to the Constitution
Of the State Of Louisiana, authorizing tho
Worlds Panama Exposition Company to
issue bonds and pledge the tax which is
Ss X joint r' 81 4. !.
General Assembly Of 1910, as we'll a. q
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 tbs 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 amendment to the Consti-
tuition Of the State of Louisiana be submitted
to the qualified electors Of the State for their
approval rejection. a. 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 to be
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 qusli6ed electors
for the purpose Of constructing an EXPOSE
ton to commemorate the opening of the
Panama Canal, the Worlds Panama Ex.
orized, when and not until the Congress of
the United States shall designate the City
of New Orleans as the location for an ex.
Panama Canal to issue bonds not to exceed
in principal Six Million Five Hundred Thou
sand (s6, 500. 000l Dollars, to bear q rate of
interest not exceeding four per centum a per
cent? per snnum to be paid semi. annually,
to be sold for not less than par and to be
due and payable in not longer than fifty
State of Louisiana; and in order to secure
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
| of the General Assembly Of Louisiana for
the year 1910, as well as a further tax here.
matter levied exclusively in the City of New
| for the payment of said bonds in principal
| and interest. the said pledge of said tax
| shall be deemed a valid and binding pledge
The bonds herein authorized to be issued
| by the Worlds Panama Exposition Company
shsll be registered with the Auditor Of the
| or printed the following across the face OF
| said bonds:
This bond in principal and interest ID
orized by amendments to the Constitution lot Of
| the State of Louisiana adopted In 191O.''
which shall have afixed thereto the signature
the ii. mpqe.. in p; the espssi sna
| The Auditor Of the State shall deliver such
bonds when thug certified to the World
IL .h ien
chaser ri thereof sSs! & required to pay D 4.
4 price directly to the Treasurer OF the State
| Of Louisiana, which funds when paid into
the Treasury Of the State shall only be paid
| out FOR the purpose Of securing . site and
| for the construction. equipment and main.
tenance Of the exposition and shall be dis
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 OF them.
All expenses. commission or brokerage in
| eident to the sale of said bonds shall b.
| paid by the Worlds Panama Exposition
Company out OF other funds belonging Il
Five Hundred Thousand (s6. 500 ,0O0) Dollars
| shall 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.