The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1910-09-29


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
such bonds when thus certified to the
Worlds Panama Exposition Company.
which Company is authorized to sell
the same for not tbe han
thereof shall be required to pay the
price directly to the Treasurer OF the |
State OF Louisiana, which funds when |
paid into the Treasury Of the State
OF securing n site and for the construc- |
tion. 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
age incident to the sale of said bonds
shall be paid by the Worlds Panama
Exposition Company out of other funds
part Of the six Million Five Hundred
Thousand ($6.50O,000) 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.
If the amendment to the Constitution
submitted by Act No Two 90 OF the
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
thereafter as long as any OF the bonds
herein authorized to be issued are out
standing. there shall be assessed and
| collected tax, which is hereby levied
exclusively in the City of New Or
| leans upon all property subject to State
| taxation. sufficient to pay the interest
upon said bonds and fraction OF the
| principal or a fraction Of the principal
! collected for the creation of a sinking
| fund with which to eventually retire
said bonds; provided that no tax ex-
shall be assessed and collected during
| any one year: and provided further:
that If said tax of one and one-half
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
is paid
herein levied becomes operative. it
| shall be the duty of the Treasurer i'm
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
for that year sufficient to pay the in
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 Weld an amount
sufficient to pay said interest anI
fraction Of principal as aforesaid: pro-
one and one-half 11b) mills for Eey
one year This tax shall be asasssed AT
| 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
for. in payment of the interest and
principal due on said bonds, upon the
presentation to him of the bonds or the
interest coupons as the case may be.
the state wheehs1
same have been realized from the sale
of said bonds or from the levy and
collection Of any tax or taxes herein
deposited in the same depository. in
the same manner. at the same rate OF
interest and upon the same terms and
conditions as are, other State fund.
and all interest accruing upon said
deposits shall be credited to the par
ticular fund from which the interest
was derived, and shall be used for the
same purpose for which the principal
OF said sum 10 intended
The bonds herein authorized and the
tax levied and collected and pledged
for the payment of said bonds shall
tract. and the faith of the State OF
louisiana IL pledged to the continuous
collection of said tax. authorized by
said Constitutional amendments, until
In principal and interest. Said bonds
shall be exempt from all taxation
state. Parish: and Municipal, and the
tutors of minors and curators OF in
terdicts are authorized to invest the
funds in their hands in said bonds
Any time after five years shall have
lapsed from the date of the issuance
Of the bonds herein authorized, the
Treasurer of the State of Louisiana
shall. at any interest payment period
pc authorised to apply the sinking
: standing bonds. to the extent Of said
fund, in their reverse numerical order
and the Treasurer shall notify the
} bondholders thereof by any advertise.
the city Of New orleans and one pub ).
lished In the City OF New York, q,
least sixty days prior to the day or
J which the bonds are to be retired. CIV
!
said bonds: and il said bonds are not
presented for payment at such time
then the interest shall cease thereon.
, the dissolution and liquidation OF
the Worlds Panama Exposition Com.
pany shall not In any manner affect
the validity Of the bonds herein au-
thorized to be issued by said corpora
ton or the collection Of the tax levied
by this Constitutional amendment OF
by that proposed by Act No. 2 of 1915
: as aforesaid.
This amendment to the Constitution
Of the Constitution of the State o.
Louisiana. as well as any proposed
amendment to the Constitution to b.
voted on at the coming election to be
first Monday in November, 1910, which
; may directly or indirectly conflict here.
with. and shall be deemed supplement.
. al to the amendment proposed by Ac
No. Two 90 Of the Acts of the regular
!; session Of the General Assembly OF the
state OF Louisiana for the year 1910
and IN case Of conflict Herewith the
vail and this amendment shall be II
. force and effect only in the event tn.
said proposed amendment submitted
: for ratification by Act No. Two (2) o.
the Acts of the regular session Of tn,
. General Assembly Of 1910. is ratified b,
: the people at the Congressional election
to be held on Tuesday next following
and is declared to be self-exccutinp
and to confer directly the authorit,
y herein granted without an enablini
. act of the Legislature.
!, Sec. 2. Be it further resolved, etc
= That the official ballot to he used "a
: the said election shall have printc'
> thereon the words:
= For the proposed amendment I,
the Constitution of the State OF Louis
. lana. authorizing an issue OF bonds b.
: the Worlds Panama Exposition Com
: pany and the levying of further Ia:
: : IN the City Of New Orleans. all in fur