Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-11-25

II the Amendment 10 the CONSTITUTION ~
nitted by Act No. Two (2l Of the Acts q
the regular session Of the General AssenhS,
Of Louisiana for the year 1910 be rstiS3
by the pople then the entire amount Of ~
tax collected after the issuing Of bonds hsrciS
provided for, shall be used exclusively for -
purpose of paying the interest and prineipd
Of said bonds and for no other purpose.
When the tax thus authorized shall hsvs
amendment then each year thereafter as lon
% any OF the bonds herein authorized 10 =
issued are outstanding. there shall be assssssS
exclusively in the City of New Orleans upcc
ell property subject to State taxation, ma.
cient TO pay the interest upon said bond
Of the principal collected for the erection
Of . sinking fund with which to eventuaii,
retire said bonds; provided that no tar e..
eeeding one and one:half uh) mills sksi
be assessed and collected during any o.
year; and provided further. that II said sas
of one and one-half 1A) mills should 4
insufficient to paw the interest and the prin.
eipal Of said bonds at the maturity Thereof,
then this tax shall continue and be assesas2
and collected until the entire amount dps
on said bonds in principal and interest Il
paid.
From and after the time the tax hsrs,.
levied becomes operative, it shall be the dutv
Of the Treasurer Immediately after the annual
listing and valuation of the property in ~
City Of New Orleans, to fix the rate Of tazs.
on said bonded debt and the fraction Of ~
principal due that year or the fraction a
the principal to constitute q sinking furI
for the retiring of said bonds Upon sseeS.
tanning said amount, he shall direct the -.
SCISSOR or Board of Assessors or such orr,
authority charged with like duty Of Civ
of New Orleans, or Parish Of 0rlsans. -
extend upon the assessment rolls such rsts
of taxation as will yield an amount sufacisnt
to pay said interest and fraction Of prip.
cipal as aforesaid; provided that said tsr
shall not exceed and half II lin
for any one year. This tax shall be sssesssi
and collected, without costs or 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 A
Louisiana, who is hereby authorized to dis.
burse the same to the holders Of the bouds
terest and principal due on said bonds. upon
the presentation to him of the bonds or ~
interest coupons as the case may be. KS
All funds arising hereunder which 20 int
the State Treasury whether same have besn
realized from the sale Of said bonds or from
the levy and collection of any tax or tara
herein referred TO shall by the Treasurer
be deposited in the same depository, in tbs
same manner, at the same rate of interext
and upon the same terms and conditions a
are other State funds and all interest se.
cruing upon said deposits shall be credited
to the particular fund from which the n.
terest was derived, and shall be used for
the same purpose for which the principal A
said sum is intended.
Inc bonds herein authorized and the tan
levied and collected and pledged for 10
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 bv
said Constitutional amendments. until tie
final payment of all of said bonds in prin.
cipal and interest. Said bonds shall BE-
exempt from all taxation. State. Parish. ssi
tors of interdicts are authorized to inveet
the funds in their hands in said bonds
Any time after FIVE years shall have lapssl
from the date 81 the Issuance OF the bonds
Of Louisiana shall at any interest paving
period be authorized to apply the sinkine
fund to the retirement Of any Outstanding
bonds, to the extent Of said fund, in ths6
reverse numerical order, and the Treasurer
shall notify the bondholders thereof By an
advertisement in one of the papers publishs1
IN the City of New Orleans and one pub.
sixty days prior to the day on which Tie
bonds are to be retired, giving the number
and denomination Of said bonds; and II sai1
bonds are not presented for payment at such
time, then the interest shall cease thereon.
The dissolution and liquidation Of ths
Worlds Panama Exposition Company shall
not in any manner affect the validity Of The
bonds herein authorized to be issued BY all
corporation or the collection of the tax levied
by this Constitutional amendment or by tai
proposed by Act No. Two of 1910 % sfeEs-
said.
This amendment to the Censtitutioa shall
prevail over all other provisions OF the con
stitution of the State of Louisiana 80 veil
as any proposed amendment to the Constitu.
tion to be voted on at the coming election
to be held on Tuesday next following ~
first Monday in November. 1910. which MAJ
directly or indirectly. conflict herewith sd
shall be deemed supplemental to the s.sne
Acts Of the regular session Of the Gensra
Assembly of the State of Louisiana for III
year 1910, and in case ~
of tbts M ahan -
vail and this amendment 81 Ne g.. .,rs
and effect only in the event the said pr opposed
amendment submitted for ratification BY ~
No. Two (2) Of the Acts of the regular -
sion of the General Assembly of 1910 I!
ratified by the people at the congrsssioua
election to be held on Tuesday next follev
ing the first Monday Or in November 1910 y.
directly the authority herein granted witheu
an enabling act of the Legislature.
Section q. Be 1t further resolved, sts-
said election shall have printed thereof ~
words:
For the proposed amendment to the 0sa
:ttution Of the state s. Of LSui'i AN w Suisss
Panama Exposition Company and the lsyyizl
OF q further tax in the City Of New 0rlesn'
sl! in further aid Of the exposition ~
/ end the words, Against the proposed smdId
ment to the Constitution Of the State .
Louisiana, authorizing an issue Of bonds ,,
the World Panama Exposition Company ~
the levying Of further tax in the City d
1 New Orleans, all in further aid Of the expo
sition celebrating the opening OF the Pansn
Canal" and eaci elector shall indicate. .
| provided in the general election laws Ct ~
State whether he votes for or against II
T'''' p. M. LAMBREMoyr.
Lieutenant Governor and President Of "
Senate.
H. G. DUPRE,
Speaker Of the House of Representative
Approved: August 10, 1910
J. Y. SANDERS,
Governor of the State OF Louinsaa
true copy:
ynIN ~ Elt,JET