St. Landry clarion. (Opelousas, La.) 1890-1921, 1910-10-22
ACT M a
rnINr ~REsmnrrnN

Senate Bill No. !.
JOINT RES0hUTIoN.
Proposing an amendment to the Constitution
Of the State of Louisiana, authorizing the
Worlds Panama ExBsition Company soa
issue bonds and plede the tax whinh Isl
proposed by joint resolution embodied IN
Az ass.T np. Assembly 5w ! ~ Of iai TO- as nss veil Is ss
further tax in the CiE Of New Orleans S
be levied and oollect@ only after tbs Ga&
levied under the shoys resolution has
Section. i. Be it resolved by the General
Assembly Of the State q Louisiana in sxtTss
ordinary session s9a.. sSn " I'M t SoDsa soneS q nt
therein, that an arnendnsnt to, the .0onsSs
tuition Of the State of Laisians be sub1nitted
10 lie euslidsd electors n tho State FOR their
831 Of che Constitutlon a the State Of Louis;
lana. 90 ths congressional election so be held
r. saS TNp ogsrsgs n'1 1o 4Gse = sl fss arse Mon
70 order thai the IS authorized to Pc
Possd s. les 10. Tyq ~ g the Acss e
% she gtasa OF LoulsiauA FOR ths year 1910.
gag wasa ratified ~ ga I, s gHTslaiaisd .%s siSfsSfs
HoD 90 oonarnemorata ths opening OF she
Panama CANA, the Nor!d'a Panama Ex
0oRislpn Company be asa II Il hsreby auth;
$40 United States shan designate the City
Of Mpw Orleans as shs location 9or y sE.
nosissoa commemorative the opening OF shs
q p%rlncSpai slx Million rive Hundred Thou:
eand {36,Bbo,0ool Dollars, to bear . rats oe
interest not exceeding four per centpna q n
"a Sc sotd Coz pos less than par and to pc
due and payable in not longer than n2Sy
l0) years, payable q the Treasury ot ths
geR4a OF Louisisnai and In order 70 secura
sks payment OF said haads, The tax proposed
81 Che 4osnt resolution embodied in Acb No.
ETe. (al Of the Acts q the regular session
she year 1910, as well Is q further tag here.
tnafter levied exclusively in the City Of New
l Orleans, BIO and the same are hereby pledged
FOR the payment of said bonds IN prtnelpa1
and interest, the said pledge OF said tax
shall be deemed a valid and binding pieage
and contract. !
by The Worlds Panama Exposition Company
shall be registered with the Auditor on ehe
State of Louisiana, and there shall. be written
or printed the following across the face %
This bond in principal and interest e
secured by the levy Of q special tax antn-
the State Of Louisiana adopted In 1919.
which shall have affixed thereto the signature
Of the Auditor in his official capacity eno
hear the impress sbs Of st tae s shaa q deliver M ! o snef
bonds when thus oertiheaesto tho Woza0t
Panama Exposition Company which company
Is authorized to sell the sane aar ~. nos 1 ,ssl
chaser thereof shall be required 70 pay IN
nrice directly to the Treasurer Of the So
st. # L &sla ians ! Tt tSa s taaf tsb Nf only Is p saS
out for the purpose of securing Q site an,
FOR the construction, Equipment and meln
tenanee Of as,szpasitla2 and s aas 1 es ! ~
bursed upon the Warrant oH@aIne MeF1A
Panama ExpositioH Company, a1oxeA 3
the Governor, Treasurer and AuafN
State Of Louisiana or any two OF
All expenses, commission or Brokerage
cident to the sals of said bonds shall ID
paid by the Malaas Panama Expasit3eI
Company out Of other funds belonging Il
Five " Hundred, Thotsandd $4,000, ooo5 Doiisri
; shall be used for such purpose, but the full
face Of such bonds must be received nai
PAID dd into The ths TB FsssI5 II the state Ct Louis
If the Amendment to the Constitution SUB
mitted by Act No Two ny OF The Acts O
the regular session Of the dsnsTai Assenasl!
by the pople, then the entire amount Of aait
: tax collected after tha issuing OF bonds heEaiI
provided for, shalt BE- used exclusively for TIL
purpose OF paying tha interest and principa
OF said bonds and fuT no other purpose,
When the tax aauM authorized shall havl
been lapged BY ts terms Of said prbp0aet
amendment, then eeh yesP thereafter al Ioni
as any of the honaB herein authorized 10 bi
issued are outstanding there shall be assessed
and collected 9 ta which As hereby levied
exclusively in the City of New Orleans uppr
ali property subject to State taxation, BUZZ
cient to pay the interest npen said h0nai
and Q fraction OF The principal or q fraettor
4 VI sAG HEAlC4E4l B4a3kERE44 EEGAGf0A
of 8 sinking fund with which 10 eyentuasly
I retire said bonds provided that no tag q.
: ceeding one and Qne.half tl4k9 mills shall
i be assessed ind collected during any ons
year; and proTidaa tnrther, that ie said IN
9 Of one and one-hslt llh mills shoula BIO
: lnsufhclent to par wa interest Ard the prin.
cipal Of said bonds DIT the maturity thereof.
then this tax gha continue and be assessed
4 and collected unit the entire amount dua
: Said sa'a 00nas Z ps'as'Pe' saa interest 7
. Fga,. a,a .tls a. 4st4n WA ty 6s~otr
levied becomes c~psfatiYe, il shall be- the duty
9 Of the Treasurer Immediately after the annual
. listing and valuation Of The property IN the
Z City Of New 0rleans, to fig the rate oS taxa
i tion to be impossd upon said property for
1 on. said bonded dabt and ths fraction of the
principal due that year on the fraction pf
the principal to constitute d sinking land
d for the retiring al ssid bonds. Upon aseeg-
tanning said am0laf, he shall direct the ks-
4 sesSor Or Board n a Asses t;sa a. gnts sue / o ne
Y OF New Orleans Of PARISH 0t Orleans 20
extend IRON the assessment rolls such rate
9 o. taxa rs VIZ yield sn amonnt s9flclent
4 elpal as aforesai9i provided that SAID pax
SHALL not exceed mo and one.aah Ia raiflg
y 1or any one year. Iais ta3 s1allbe assessed
and collected, Without costs or commission,
Q In the same manner as State taxes are yeol@
ieeted and shall be paid py the cofleeters
glrectly to the Treasurer Of the state o3
Louisiana, who 1T hereby authorized to dis
d burse the same 10 The holders of the bonds
herein provided Tor IN payment 81 the IN
| terest and principal due on said bonds, upon
the presentation Cd ham Of ths bonds Or ths
] interest coupons ali the cags may pc.
All funds arising hereunder which 20 into
. the State Treas#ry whether same nave bean
realized from tbs sale OF said bonds or from
a the levy and ~coHaetian Of any tax or taxes
herein referred I'd snail by the Ireasuref,
! be deposited la tic same depository, n tine
same manner, ! The same rate oI interest
2 and upon the same terms and c0nditfona as
are other state lands and all interest So
2 er0ing upon said deposits shalL n9 eaealgso
70 the particuIa fa1a from 1alch 1hs IN
. terest was derfsed, end shall be used Tor
Ghs same purpose fE Whieh gRe principal et
The bonds hesssn authorized ana the tax
4 levied and collected and pledged 1or fhe
payment OF gasI bonds snail constitute q
> valid and binding e~pntEsee, ena tne 1Alth g
me State Of Loalslana W DseGgea to. lns con-
, tinuous colieefian of said tex, authorized py
said GonstffntfsasI amendments. until the
4 final payraanf " 81 0f said bonds IN prin-
8 eipal and in4sTssa. Said bon@g shaiI he
exempt from MI taxation, state, Parish. and
] Municipal ana Flu tutors Of minors ana eafa.
tors of interdiaa ar8 aufhorIzsa 70 lnYest
? the funds in fhsfg hands n saia 9ona9t
Any time nffsr IRE years sneA Asxe 5apssa
5rom the date 8S she issuance " 4 rs pguus
4 herein authorizes, the Treasurer q tae sEats
Of Louisiana ahslE n any anteEsst PaEing
. period be autINszee 70 sppag ,mg sll5sns
Iand TO the re5feMans g Il 80 rs, 49,
; bonds. to the Megut 0E sale = 800
Eeonfnaed on page0
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