St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-11-05
ACT No. Z
Senate Bill No. l.
JOINT RESOLUTION.

JOINT RESOLUTION.
Proposing an amendment to the Constellation
of the State of Louisiana, authorizing the
Worlds Panama Exposition Company TO
proposed 5 joint resolution ito embodied liz in IN
General Assembly Ct 1910 as well Is .
bs levied and collected only after the tax
levied under the above resolution has
lapsed.
Assembly Of the State OF Louisians In extra.
ordinary session convened, two-thirds of all
the members elected to each house concurring
tuition OF the State Of Louisiana be submitted
to the qualified electors of the State for their
approval or rejection. as required by Article
lana, at the Congressional election to DO held
day Of November, 1910, as follows.
levied BY the oons.itutionai amendment pro.
R ISs regular s session Of the General Assembly
Of the State ct Louisiana 81! for ths year 1910.
of the State be made Immediately available
for the purpose Of constructing an e1posi-
ton to % ess ns psn as.m Of E +:
cried, when and not until the Congress- Of
the United States shall designate the City
position concentrating the opening Of the
Panama Canal to issue bonds not TO- exceed
in principal SIX Million Five Hundred Thou:
sand Csc, 5000 0o) Dollars. to bear q rate OF
interest not exceeding four per centum a per
cent? per annum to be paid semi annually.
to be sold for not less than par and to be
(50) years, payable at the Treasury of the
State Of Louisiana; and in order to secur::
the payment of said bonds, the tax proposed
Two (2) Of the Acts Of the regular session
of the General Assembly Of Louisiana for
the year 1910, as well as further tax here
inafter levied exclusively in the City Of New
for the payment Of said bonds in princfpal
and interest the said pledge Of said tax
shall be deemed valid and binding pledge
The bonds herein authorized to be issued
by the Worlds Panama Exposition Company
sball be registered with the Auditor Of the
or printed the following across the face OF
said bonds:
secured by the levy Of 3 special tax auth:
orised by amendments to the Constitution OF
the State OF Louisiana adopted in 1910"
which shall have affixed thereto the signature
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 authorised to sell the same for not less
than par as above provided, and the pur'
chaser thereof shall be required to pay ths
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 thu
| State Of Louisiana, or any two Of them.
/! All expenses, commission or brokerage in
cident to the sale Of said bonds shall b,
paid by Che Worlds Panama Expositins
| Company ous Of other funds belonging Il
Do.a
| shall be used for such purpose, but the ful
| face of such bonds must be RECESSED and
| paid into the Treasury OF ~ 9tsts q Leuis
/ lana ~ above provided