St. Tammany farmer., 1910-10-15
ACT No. q
Senate BIZ No. I. '
JOINT RESOLUTION.

Senate Bill No. /.
JOINT RESOLUTION.
Proposing an amendment to the Constitution
Worlds Panama Exposition Company to
issue bonds and pledge the tax which is
So y JOINT Sc tho in
General Assembly of 1910. as we'll as =
further tax in che 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 concurrng
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
321 of the Constitution Of the State Of Louis.
lana. at the congressional election to be held
day OF Of November isio, as follows: low af'' '10A
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 qualified electors
for the Of an
ton to commemorate the opening of the
Panama Canal, the Worlds Panama Ex.
wben hot s 'aa until i h Il essss % a
the United States shall designate the City
of New Orleans as the location for an e1-
position commemorating the, opening Of the
in principal Six Million Five Hundred Thou.
sand {$6,5oo,0ool Dollars, to bear rate Of
interest not exceeding four per centum "a per
to be sold for not less than par and to BE-
due and payable. in not longer than fifty
65o) years, payable at the Treasury Of the
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 (2) Of the Acts Of the regular session
he pf
the year 1910. as well as a further tax here.
inafter 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 q special tax auth::
the State Of Louisiana adopted in 1910"
which shall have affixed thereto the signature
of the Auditor in his. official capacity and
9;:r S ahs h Impress .; the Of sa. h seal seal. Of d..r bis
bonds when thus certified to the World 9
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
out for the purpose Of securing q site and
for the construction. equipment and main
tenance Of the exposition and shall be dis.
bursed upon the warrant OF the World q
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
eidsnt to the sal sale Of said bonds shall be
Company out Of other funds belonging TO
said company, and no part of the Six Million
Five Hundred Thousand ($6.5oo.o00 Dollars
shall be used for such purpose, but the full
face of such bonds must be received and
paid into the Treasury Of ~ State Of Iouis-
lana as above provided.