New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1910-09-10

| II the amendment to the Constitution SUP.
| mitted by Act No. Two (2) OF the Acts OK
| the regular session OF the General Assembly
| of Louisiana for the year 1910 be ratneu
by the pople, then the entire amount o, saiu
tsr collected after the issuing of bonds hereih
! provided for, shall be used exclusively Tor ING
purpose of paying the interest and priheip"'
Of said bonds and for no other pnhpDmseht
| When the tax thus authorized shal haVs
| been lapsed by the terms or salH Srop3seu
| amendment then each year thereaft~s as long
Is any of the bonds herein authorized 10 os
| issued arc outstanding there shall be assessed
| and collected tax, which is hereby leVled,
exclusively in the City Of New Orleans upon
| Gent to pay the interest upon said bonus
and fraction of the principal or traction
Of the principal collected for the creat oy"
! of A sinking fund with which to eventuahF
! retire said bonds provided that no tax eS
| ceeding one and ono half IN mills shail
be assessed and collected DURING, any one
| wear: and provided further, that II sald 'ah
| Of one and one half q Il mills shouio oe
| insufficient to tho interest ana the pfln
cipal Of said bonds at the ma, d Wy assessed
| and collected until the entire amount due
on said bonds in principal and interest j"
| paid. 49, ,t
! levied becomes operative, it shal be the duty
| of the Treasurer Immediately after the annual
listing aud valuation Of the property IN tne
| City of New Orleans, to fix the rate y, ''s
ton to be imposed upon said property ~,
that year sufficient to pay the ihtsre IS
| on said bonded debt and the fraction OF inc
| PRINCIPAL due that year or the fraction OF
the principal to constitute a SINGING luno
for the retiring of said bonds. Upon ascer
| tanning snd amount he shall direct the as
SCISSOR or Board of Assessors or such other
authority charged with like duty OF wy
of New Orleans, or Parish or orleans, '"
| extend upon the assessment rolls sucn rhte
of taxation as will yield an amount suihciens
to pay said interest and fraction OF prih-
eipal as aforesaid. provided that sald TAX
] (t ta
for any one year This tax shall be assessed
and collected without costs or commission
lected and shall be paid by the collectors
directly to the Treasurer of the state or
Louisiana, who is hereby authorized to as
hurse the same to the holders OF the BONDS
herein provided for in payment of the in
terest and principal due on said bonds, upon
the presentation to him of the bonds or VI"
/ interest coupons as the case may be
All funds arising hereunder which go mt"
the State Treasury whether same have been
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.
be deposited in the same depository, IN Tn"
same manner at the same rate of interest
and upon the same terms and conditions as
are other State funds and all interest &C.
crung upon said deposits shall be credited
to the particular fund from which the in
terest derived, and shall be used Tor
the same purpose for which the principal OK
said sum is intended
The bonds herein authorized and the tax
/ levied and collected and pledged for the
payment OF said bonds shall constitute a
valid and binding contract and the faith OF
the state of Louisiana is pledged to the con
tiuuous collection of said tax. authorized by
said Constitutional amendments, until the
final payment Of all Of said bonds in Pr n.
exempt from all taxation, state, Parish. and
Municipal and the tutors of minors and cura
| tors OF interdicts are authorized to invest
the funds in their hands in said bonds.
Any time after five years shall have iapsed
from the date OF the issuance of the bonds
| period he authorized to apply the sinking
| fund to the retirement of any outstanding
bonds, to the extent of said fund, In their
reverse numerical order, and the Treasurer
shall notify the bondholders thereof by an
advertisement in one of the papers published
| in the City of New Orleans and one pub
| ished in the City Of New York Mt least
sixty days prior to the day on which tho
| bonds are to be retired giving the number
and denomination of said bonds; and IL said
bonds not presented for payment at such
time, then the interest shall cease thereon.
The dissolution and liquidation OF the
Worlds Panama Exposition Company shall
not in any manner affect the validity Of the
bonds herein authorized to be issued by said
corporation the collection OF the tax levied
by this Constitutional amendment or by that
proposed by Act No Two Of 1910 as afore-
said
This amendment to the Constitution shall
prevail over all other provisions of the Con
stitution of the State of Louisiana. az well
ss any proposed amendment to the Constitu-
ton to he voted at the coming election
TO he held 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 CD of the
Acts Of the regular session OF the General
Assembly of the State of Louisiana for the
year 1910 and in of conflict Herewith
the provisions of this amendment shall pre-
vail and this amendment shall be in force
and effect only in the event the said proposed
amendment submitted for ratification by Act
No. Two (2) Of the Acts of the regular SEES
sion Of the General Assembly of 1910 is
ratified by the people at the congressional
election to be held on Tuesday next follow
ing the first Monday in November, 1910, and
is declared TO be elfexecuting and to confer
directly the authority herein granted without
an enabling act of the Legislature.
Section Q. Be II further resolved, etc.
That the official ballot to be used at the
said election shall have printed thereon the
words:
For the proposed amendment to the Con
stituton OF the State Of Louisiana. author
izing an issue of bonds by the Worlo
Panama Exposition Company and the leyyiix
os further tax in the City Of New Orlesn'.
al! in further aid OF the exposition cells
bratng the opening Of the Panama Canal,
and the words, Against the proposed amnnd
ment to the Constitution OF the State OF
Louisiana, authorizing an issue Of bonds by
the Worlds Panama Exposition Company and
New Orleans, eli in further aid Of the expo
sition celebrating the opening OF the Panama
Canal and eaci elector shall indicate, az
provided in the general election laws Of the
State whether he votes for against the
proposed amendment.
Lieutenant Governor and President of tho
Senate.
H. G. DUPRE
Speaker Of the House Of Representatives.
Approved August 10, 1910.
J. Y. SANDERS
Governor of the State of Louis,a1A
Join "%f IVY I. MICHEL,
Secretary of State.