St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-09-17

II the amendment TO the Constitution ssh.
| nitted by Act No. Two (2l of the Acts Of
! the regular session of the General Assembly
| OF Louisiana for the year 1910 be ratified
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 other purpose.
| When the tax thus authorized shall have
| been iapsed by the terms OF said proposed
amendments, then each year thereafter as long
as any OF the bonds herein authorized to be
| issued are outstanding, there shall be assessed
ene e9eGsea 1T tax WHICH is hereby levied
al property subject to State taxation, sufa-
| cient to pay the interest upon said bonds
Of the. principal collected for the creation
retire said bonds; provided that no tax sx-
be assessed and collected during any ONE
year; and provided further. that if said tsx
Of one and one-half {l1aj mills should DO
clpal Of said bonds at the maturity thereof.
then this tax shall continue and be assessed
and collected until the entire amount dus
paid
From and after the time the tax herein
levied s led becomes operative. it shall be the duty
listing and valuation of the property in the
City of New. Orleans, to fix the rate of taxa
on to BE- said property 70.
on, said bonded debt and the fraction Of the
principal due that year or the fraction Of
for the retiring of said bonds Upon ascer-
tanning said amount, he shall direct the as
SCISSOR or Board Of Assessors or such other
of New Orleans, or Parish of Orleans to
extend upon the assessment rolls such rate
Of taxation as will yield an amount suficiens
cipal as aforesaid; provided that said tag
shall not exceed one and one-hah l1h) mills
for any one year. This tax shall be assessed
rfa1 wit mt aw sc>sn
in the same manner as State taxes are coll
lected and shall be paid by the collector.
directly to the Treasurer Of the State Of
Louisiana, who Is hereby authorized to dis
burse the same to the holders Of the bonds
herein provided for, in payment of the in
t ter and principal due on said bonds upon
interest coupons as the case may be.
All funds arising hereunder which go into
realized from the sale Of said bonds or from
the levy and collection OF any tax or taxes
herein referred to shall by the Treasurer.
same manner, at the same rate Of interest
and upon the same terms and conditions
are other State funds and all interest ac-
to the particular fund from which the in
terest was derived, and shall be used for
the same purpose for which the principal Of
The bonds herein, authorised and the tag
levied and collected and pledged for the
payment Of said bonds shall constitute .
the State Of Louisiana is pledged to the con-
tinuous collection OF said tax, authorised by
said Constitutional! amendments. until the
final payment of all of said bonds In prin-
cipal and interest. Said bonds shall be
exempt from all taxation, State Parish, and
Municipal and the tutors Of minors and ours,
the funds in their hands in said bonds
ANY. time after. FIVE years shall have lapsed
s the % Of sas
of Louisiana shall at any interest paying
period be authorized to apply the sinking
bonds the extent Of said fund IN he
reverse numerical order, and the Treasurer
shall notify the bondholders thereof by. an
in the City of New Orleans and one pub
1ished in the City of New York, at least
sixty days prior to the day which tho
and denomination of said bonds and ii said
bonds are not presented for payment at such
time, then the interest shall cease thereon.
Worlds Panama Exposition Company shall
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
proposed by Act No. Two of 1910 as afors.
This amendment to the Constitution shall
prevail over all other provisions of the Com
stitution of the. State of Louisiana, as we'll
ton to be voted on at the coming election
to be held on Tuesday next following the
first Monday in November, 1910, which may
directly or indirectly conflict herewith and
shall be deemed supplemental to the amend
ment proposed by Act. No. Two t2) of this
Acts Of the regular session Of the General
Assembly of the State Of Louisiana for tbs
year 1910, and in case OF conflict Herewith
the provisions OF this amendment shall pre-
vail and this amendment shall be in force
amendment submitted for ratification by Ast
No. Two ~ OF the Acts of the regular ses-
sion Of the General Assembly OF 1910 10
ratified by the people at the congressional
election to be held on Tuesday next follow.
ing. the first Monday in November. 1910, and
an enabling act of the Legislature.
Section 2. Be it further resolved, eto.,
That the official ballot to be used ct the
said election shall have printed thereon the
words:
''For the proposed amendment to the Com
stitution of the State Of Louisiana, author-
izing issue of bonds by the Wori1 Q
Panama Exposition Company and the levyiax
of a further tax in the City Of New Orleans
bratinag the opening Of the Panama Canal
and the words, Against the proposed amnnd-
ment to the Constitution OF the Stats Of
louisiana, authorizing an Issue OF bonds By
the Worlds Panama Exposition Company and
the levying of further tax in the City Of
sition celebrating the opening Of the Panhms
Canal and eaca eleetor shall indicate as
provided in the general election laws Of the
State whether he votes for or against the
proposed amendment.
Senate.
f. G. DUPRE,
Speaker OF the House of Representatives.
Approved: August -, 1910.