St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-09-03
Ii the amendment to the Constitution sub

II the amendment to the Constitution sub
| mitted by Act No. Two (2) Of the Acts Of
the regular session of the General Assembly
| by the pople, then the entire amount of said
| tax collected after the issuing of bonds herein
provided for, shall be used exclusively for the
| purpose of paying the interest and principal
OF said bonds and for no other purpose.
When the tax thus authorized shall have
been lapsed by the terms Of said proposed
amendment, then each year thereafter as long
| as any of the bonds herein authorized to be
issued are outstanding, there shall be assessed
exclusively in the City of New Orleans upon
| all property subject to State taxation, sufi-
clent to pay the interest upon said bonds
| of the. principal collected for the creation
| of a sinking fund with which to eventually
retire said bonds; provided that no tax ex-
eeeding one and one,half d1al mills shall
| be assessed and collected during any one
! year. and provided further, that if said tax
Of one and one-half q1a) mills should be
| cipai of said bonds at the maturity thereof,
| then this tax shall continue and be assessed
| and collected until the entire amount due
paid.
From and after the time the tax. herein
| of the Treasurer Immediately after the annual
| listing and valuation of the property in the
| City of New Orleans, to fix the rate Of taxa
| that year sufficient to pay the interest
| ON said bonded debt and the fraction of the
principal due that year or the fraction Of
| the principal to constitute a sinking fund
| for the retiring of said bonds. Upon ascer-
| tanning said amount, he shall direct the as
SCISSOR or Board Of Assessors or such other TIER
| of New Orleans, or Parish of Orleans, to
| extend upon the assessment rolls such rate
| of taxation as will yield an amount sufficient
to pay said interest and fraction of prin-
| cipal aforesaid provided that said tax
| shall not exceed one and one.half q u mills
| for any one year. This tax shall be assessed
and collected. without costs commission.
| in the same manner as State taxes are col
lected and shall be paid by. the collectors
| Louisiana, who is hereby authorized to dis
| burse the same to the holders of the bonds
| herein provided for, in payment OF the in
| terest and principal due on said bonds, upon
| the presentation to him of, the bonds or the
interest coupons as the case may be.
| >, All funds arising hereunder which 60 into
| the levy and collection of any tax or taxes
sr depostsd IN the ssme sf h
and upon the same terms and conditions as
cruing upon said deposits shall be credited
| to the particular fund from which the in
| terest was derived, and shall be used for
the same purpose for which the principal Of
| said sum is intended.
The bonds herein, authorized and the tax
levied and collected and pledged for the
| valid and binding contract, and the faith Of
| the State of Louisiana is pledged to the con-
%n S
| final payment of all of said bonds in prin-
cipal and interest. Said bonds shall be
Municipal and the tutors of minors and cura.
| tors Of interdicts are authorized to invest
the funds in their hands in said bonds.
| Any time after five years shall have lapsed
from the date of the issuance of the bonds
herein authorized, the Treasurer of the State
of Louisiana shall at any interest paying
| I'd h. load fn nrr1f,r %hn rs,,lyt nm
| fund to the retirement of any outstanding
| bonds, to the extent of said fund, in their
1hs and the as
advertisement in one of the papers published
in the City of New Orleans lean and one pub.
sixty days ' prior to the day on which the
and denomination Of said Bonds and il said
] bonds are not presented for payment at such
| time, then the interest shall cease thereon.
| The dissolution and liquidation of the
Worlds Panama Exposition Company shat
not in any, manner affect the validity. of the
bonds herein authorized to be issued by said
corporation or the collection of the tax levied
by this Constitutional amendment or by that
p ssia BY Act No. Two Of 1910 as 'f0fs,
This amendment to the Constitution shall
stitution 10 Of the State Of, Louisiana, as We'll
as any proposed amendment to the Constitu-
tion to be voted on at the coming election
first Monday in November 1910, which may
directly or indirectly conflict herewith, and
shall be deemed supplemental to the amend.
Acts Of the regular session OF the General
Assembly of the State Of Louisiana for the
year 1910, and in case of conflict Herewith
the provisions of this amendment shall pre-
vail and this amendment shall be in force
and effect only, in the event the said proposed
amendment submitted for ratification by Act
No. Two (2) of the Acts of the regular ses-
sion Of the General. Assembly of 1910 is
ratified by the people at the congressional
election to be. held on Tuesday next follow:
ing the first Monday in November. 1910, end
1 is declared to be self-executing and to confer
directly the authority herein granted without
an enabling act of the Legislature
| That the official ballot to be used at the
said election shall have printed thereon the
words:
"For the proposed amendment to the Con.
stitution of the State of Louisiana, author
Panama Exposition Company and the levyilg
| of a further tax in the City of New Orleans,
| al! in further aid of the exposition cele-
brating the opening of the Panama Canal
znent to the Constitution Of the State of
louisiana authorizing an issue of bonds by
| the Worlds Panama Exposition Company and
the leyy,ing of a further tax in the City Of
| sition celebrating the opening of the Panama
| Canal and eacl elector shall indie cate, rs
provided in the general election laws CT the
| State whether he votes for or against the
| P. NJ LAMBREMoNr.
| Lieutenant Governor and President Of tho
r Senate.
n. G. DUPRE
| Speaker OF the House of Representatives
Approved: August -, 1919;
Governor Of the State of Louisiana.
a HIN g wy n N,rrr4ET,