The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1910-10-20
ssrt,. horA q nrincipal and interest

A0OntG0
fixed thereto the signature Of the Aud
itor in his official capacity and bear
the impress Of the seal Of his office.
The Auditor OF the State shall deliver
Worlds Panama Exposition Company.
which Company is authorized to sell
the same for not less than par az
above provided. and the purchaser
thereof shall be required to pay the
price directly to the Treasurer Of the
State OF Louisiana, which funds when
shall only be paid out for the purpose
paid into the Treasury Of the State
OF securing Il site and for the construc-
ton. equipment and maintenance OF
the exposition and shall be disbursed
upon the warrant Of the Worlds Pana-
ma Exposition Company. approved. by
the Governor. Treasurer and Auditor OF
the State of Louisiana or any two OF
them.
All expenses. commission or broker
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 (s6.500.O00) 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 Louisiana as above provided.
IT the amendment to the Constitution
submitted by Act No. Two CD Of the
Acts of the regular session of the Cen
eral Assembly of Louisiana for the year
1910 be ratified by the people. then the
entire amount Of said tax collected at
ter the Issuing Of bonds herein prOvid-
ed for. shall be used exclusively for the
purpose of paying the interest and prin-
cipal Of said bonds and for no other
purpose.
When the tax thus authorized shall
have lapsed by the terms OF said pro-
posed amendment, then each year
herein authorized to be issued are out
standing. there shall be assessed and
collected a tax. which is hereby levied
exclusively in the City OF New Or
taxation. sufficient to pay the interest
upon said bonds and a fraction of the
principal or a fraction of the principal
collected for the creation of 2 sinking
said bonds; provided that no tax ex-
ceeding one and one-haf Gk) mills
shall be assessed and collected during
any one year; and provided further:
(11h) mills should be insufficient to pay
| the interest and the principal of said
bonds at the maturity thereof. then this
| tax shall continue and be assessed and
collected until the entire amount due
| on said bonds in principal and interest
| is paid
From and after the time the tax
herein levied becomes operative. it
mediately after the annual listing and
valuation of the property in the City OF
| New Orleans, to fix the rate OF taxa
ton to be imposed upon said property
terest on said bonded debt. and the
fraction of the principal due that year or
| fraction of the principal to constitute
a sinking fund for the retiring of said
bonds. Upon ascertaining said amount.
! he shall direct the assessor or Board Of
| Assessors or such other authority
charged with like duty of the City 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 anH
fraction Of principal as aforesaid; pro-
vided that said tax shall not exceed oae
| one and one-half 1B) mills for an.
one year This tax shall be assessed aAi
collected without costs or commission
in the same manner as State taxes are
lectors directly to the Treasurer of the
State Of Louisiana. who is hereby au-
thorized to disburse the same to the
holders of the bonds herein provided
principal due on said bonds. upon tht
| presentation to him of the bonds or the
interest coupons as the case may be.
All funds arising hereunder which
same have been realized from the sal,
of said bonds or from the levy ans
collection OF any tax or taxes hereiI
referred to shall by the Treasurer, b,
deposited in the same depository. ii
the same manner. at the same rate o
interest and upon the same terms an,
conditions as are other State fund.
and all interest accrruing upon sale
deposits shall be credited to the par
ticular fund from which the interes
was derived. and shall be used for tn,
same purpose for which the principa
OF said sum is intended.
The bonds herein authorized and tn,
tax levied and collected and pledged
for the payment Of said bonds shall
constitute a valid and binding con
Louisiana is pledged to the continuous
collection of said tax. authorized b,
said Constitutional amendments, unit
the final payment Of all Of said bond
shall be exempt from all taxation
State. Parish, and Municipal. and tn,
tutors Of minors and curators Of in
terdicts are authorized to invest tn
| FUNDS In their hands in said bonds.
Any.tim after five years shall hav
lapsed from the date of the issuanc'
Of the bonds herein authorized, tn,
Treasurer of the State of Louisian.
be authorised to apply the sinking
fund to the retirement of any out
standing bonds. to the extent Of sal,
fund, In their reverse numerical order
. bondholders thereof by any advertise
ment in one of the papers published II
J the City OF New Orleans and one pub
li Ian in the City of New York. a
} which the bonds are to be retired, Civ
ing the number and denomination O
said bonds: and If said bonds are no
presented for payment at such time
then the interest shall cease thereon.
The dissolution and liquidation o
the Worlds Panama Exposition Com
pany shall not in any manner affec
the validity Of the bonds herein au
thorized to be issued by said corpora
tion or the collection OF the tax levie,
by this Constitutional amendment O
by that proposed by Act No. of 1s1
This amendment to the Constitution
shall prevail over all other provision
Of the Constitution of the state Q
Louisiana. as well as any propose
voted on at the coming election to b
held on Tuesday next following tn
first Monday in November. 1910. whic
: may directly or Indirectly conflict here
with. and shall be deemed supplement
al to the amendment proposed by Ac
No. Two (2) of the Acts Of the regula
!; session OF the General Assembly Of tn
state OF Louisiana for the year 1871
and In case OF conflict Herewith tn
!. provisions Of this amendment shall pre-
vail and this amendment shall be i
U force and effect only in the event tn
= for ratification by Act. No Two f2) q
l the Acts of the regular session Of tn
!. General Assembly of 1910. is ratified b
: the people at the Congressional elecfio
20 De nelo on IueSday next fOllowin
: the first Monday in November. 19I,
and is declared to be sclf-executin
and to confer directly the authorit
u herein granted without an enablin
act Of the Legislature.
: Sec. 2. Be IT further resolved. etc
That the official ballot to be used /:
the said election shall have printe
thereon the words:
For the proposed amendment I
the Constitution Of the State OF Louis
!. lana. authorizing an issue Of bonds u
: the Worlds Panama Exposition Con-
g pany and the levying Of further ia