Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-10-14

II the amendment TO the Censtitutie, -
mitted by Act No. Two (2) Of the Aets -
the regular session Of the General Asssmhi.
Of Louisiana for the year 1910 be rssiSsS
by the pople, then the entire amount Of ~
tax collected after the issuing OF bonds bsrsts
provided for shall be used exclusively for ~
purpose of paying the interest and principsi
When the tax thus authorised shall h.,.
been lspsed by the terms of said prooossS
amendment. then each year thereafter A. lors
IS any of the bonds herein authorized "a -
issued are outstanding there shall be ssssssss
and collected tax, which is hereby IeyisS
exclusively in the City of New Orleans urc-
all property subject to State taxation, sun.
cient to pay the interest upon said bona.
and fraction of the principal or a fracfjon
of the principal collected for the creation
OF sinking fund with which to eventually
retire said bonds; provided that no tar -.
ceeding one and one-half (1R) mills shan
be assessed and collected during snv On.
year; and provided further that II said ,ss
of one and one-h half az mills should n.
insufficient to psy the interest and the prir.
cipal of said bonds at the maturity thereof
then this tax shall continue and be asseSssi
and collected until the entire amount dns
paid.
From and after the time the tax b.-..
levied becomes operative. II shall be the dutv
of the Treasurer Immediately after the ANNA,
listing and valuation of the property In sss
City Of New Orleans to fix the rate of tsxs.
ton to be imposed upon said property for
na, Sona: Ss ssa ad 70 pay the interest
principal due that year or the fraction 81
the principal to constitute q sinking fus1
for the retiring of said bonds. Upon sscer.
SCISSOR or Board Of Assessors or such oths,
authority charged with like duty Of civ
of New Orleans, or Parish Of 0rleans Il
extend upon the assessment rolls such r.ss
to pay said interest and fraction OF nrir
cipal as aforesaid provided that said tan
shall not exceed one and onehalf 1h) mills
for any one year. This tax shall be Assessed
and collected without costs commission
in the same manner as State taxes are col
lected and shall be paid by the collector,
directly to the Treasurer Of the State ~
Louisiana who is hereby authorized 10 dis.
burse the same 10 the holders of the bonds
herein provided for. in payment of the in.
terest and principal due on said bonds unan
the presentation to him OF the bonds or ths
interest coupons as the may be-
All funds arising hereunder which 20 into
the State Treasury whether same have been
realized from the sale of said bonds or from
the levy and collection of any fax or taxes
herein referred TO shall by the Treasurer
be deposited in the same depository. in the
same manner, at the same rate Of interest
and upon the same terms and conditions AZ
other State funds shd all interest ar.
cruing upon said deposits shall be credited
to the particular fund from which the in.
terest was derived, and shall be used 10,
the same purpose for which tbs principal Of
said sum is intended.
The bonds herein authorized and the tan
levied and collected and pledged for the
payment Of said bonds shall constitute !
valid and binding contract. and the faith Of
the State of Louisiana is pledged to the con-
tinuous collection Of said tax. authorized BY
said Constitutional amendments, until ne
final payment of all Of said bonds in prin.
cipal and interest. Said bonds shall BE-
exempt from all taxation. State. Parish, an5
tors of interdicts are authorized to inves,
the funds in their hands in said bonds
Any time after five years shall have lapsed
'ns o. Of Is. eSns:
of Louisiana shall at any interest paving
period be authorized to apply the sinking
fund to the retirement OF any outstanding
bonds, to the extent of said fund, in tAsis
reverse numerical order. and the Treasurer
shall notify the bondholders thereof BY IN
advertisement in one Of the papers published
lished in the City of New York at least
sixty days prior TO the day on which tie
bonds are to be retired. giving the number
and denomination of said bonds; and II saia.
bonds are not presented for payment at such
time, then the interest shall cease thereon.
The dissolution and liquidation Of the
Worlds Panama Exposition Company shall
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 a. afors.
This amendment to the Constellation shan
prevail over all other provisions OF the Con-
stitution of the State of Louisiana. a. veil
as any proposed amendment to the Constitu-
tion to be voted on at the coming election
to be held on Tuesday next following the
first Monday in November 1910 which mag
directly or indirectly, conflict herewith sra
ment proposed by Act No. Tw, n fse
Acts Of the regular session Of the General
Assembly of the State of Louisiana for the
the provisions Of this amendment shah pgs.
vail and this amendment shs De Jrcs
and effect only in the event the said prppnseG
amendment submitted for ratification BY AeA
sion of the General Assembly Of 1910 i
ratified by the people at the congressional
election to be held on Tuesday next follev.
IN; y the first Monday in November, 1910. q
directly the authority herein granted withouo
an enabling act of the Legislature.
Section q. Be Il further resolved. etc.
said election shall have printed thereof @
words:
For the proposed amendment to the Css.
stitution of the State Of Louisiana, autkos.
Panama Exposition Company and fAs isvyias
OF . further tax in the City Of New OrIssnl
al in further aid Of the exposition e:I.:
brsting the opening of the Panama Canat
ment to the Constitution Of the State II
i.ouisiana, authorizing an issue OF bonds hy
the Worlds Panama Exposition Conn any and
New Orleans ali in further aid o. ~ the ERE
sition celebrating the opening Of the Panama
Canal. and eaci eIector shall indicate. -
provided In the general election laws Of tbs
p. M. LAMBREMoxr.
Lieutenant Governor and President Of ~
Senate.
II. G. DUPRE.
SNEAKER Of The House Of RepresentatiyQA