St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-09-24
ACT No. 3

Senate Bill No. l.
JOINT RESOLUTION.
Proposing an amendment to the Constellation
OF the State Of Louisiana, authorizing the
Worlds Panama Exposition Company to
issue bonds and pledge the tax which is
proposed By joint s> resolution ito embodied in
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 levied under the above resolution has
Section. ]. Be it resolved by the General
Assembly q the State q Louisiana in extra:
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
321 Of the Constitution Of the State Of Louis
lana at the congressional election to be held
day da Of NovsmSer. ' 1910. a. follows low al'' MOI
In order that the tax authorized to be
levied by the Constitutional amendment pro:
posed by Act ss, No. pTG ~ ofhe Acts Of
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-
Panama Canal. the worlds Panama Ex.
position Company be and Il Is hsretS auth:
orized, when and not until the Congress- Of
the United States shall designate the City
Of New Orleans as the location for an ex.
position commemorating the opening of the
in principal Six Million Five Hundred Thou.
sand t$6,5o0.oool Dollars. to bear a rate Of
interest not exceeding four per centum a per
e ;. ped fop mot par and to y
due and payable in not longer than fifty
I5o) years, payable at the Treasury Of the
the payment Of said bonds. the ta1 proposed
by the joint resolution embodied in Act No.
Two ~ Of the Acts Of the regular session
the year 1910, as well as further tax here.
matter levied exclusively in the City of New
Orleans, be and the same are hereby pledged
and interest, the said pledge of said tax
shall be deemed valid and binding pledge
and contract.
by the Worlds Panama 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 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 affixed thereto the signature
Of the Auditor in his official capacity and
bear the impress of the seal Of his Office.
The Auditor Of the State shall deliver such
bonds when thus certified to the Worlds
Panama Exposition Company. which company
is authorized to sell the same for not 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
for the construction. equipment and main.
tenance Of the exposition and shall be dis.
bursed upon the warrant Of the Worlds
Panama Exposition Company, approved by
the Governor. Treasurer and Auditor of the
State Of Louisiana. any two of them
All expenses, commission or brokerage in
cident to the sale of said bonds shall be
paid by the Worlds Panama Exposition
Company out Of other funds belonging to
said company, and no part of the Six Million
Five Hundred Thousand fs6.5oo.ooo Dollars
face of such bonds must be received and
paid into the Treasury of the State Of Louis.
lana as above proFized.