St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-10-08
ACT No. 2
dIE Dill No. I.
JOINT RESOLUTION

JOINT RESOLUTION.
Proposing an amendment to the Constitution
of the State of Louisiana. authorizing the
Worlds Panama Exposition Company to
proposed pro, b joint resolution embodied in
saassa Asss n h Ct 1 81 SW o T
be levied and collected only after the tax
levied under the above resolution has
Section. 1. Be it resolved by the General
Assembly of the State of Louisiana in extra
ordinary session convened, two-thirds Of all
the members elected to each house concurring
tuition of the State of Louisiana be submitted
to the qualified electors of the State for their
approval or rejection, as required by Article
lana. at the congressional election to be held
on the Tuesday next following the first Mon
day of November. 1910. as follows,
levied by the Constitutional amendment pro.
posed by Act No. Two t2l of the Acts Of
the regular session Of the General Assembly
may. when ratified by the qualified electors
of the State be made Immediately available
for the purpose OF constructing an esposi-
Panama Canal, the Worlds Panama Elk.
position Company be and 1t is hereby auth
orized, when and not until the Congress- Of
Of New Orleans as the location for an *.
position commemorating the opening of the
Panama Canal, to issue bonds not to exceed
in PRINCIPAL Sig Million Five Hundred Thou:
sand ($6, 500, o00l Dollars to bear a rate Of
interest not exceeding four per centum "a per
cent? per annum to be paid semi annually,
to be sold for not less than par and to- DO
due and payable in not longer than fifty
ls0) years. payable at the Treasury of tho
State of Louisiana; and in order to secure
the payment Of said bonds; the tax proposed
Two (2) of the Acts of the regular session
Of the General Assembly Of Louisiana for
the year 1910, AZ well as further tax here.
matter levied exclusively in the City of New
Orleans. be and the same are hereby pledged
for the payment Of said bonds in principal
and interest. the said pledge Of said tax
and contract
The bonds herein authorized to be issued
by the Worlds Panama Exposition Company
State of Louisiana. and there shall be written
or printed the following across the face Of
This bond in principal and interest n
secured by the levy Of special tax auth
orized by amendments to the Constitution of
the State Of Louisiana adopted. in 1910"
Of the Auditor in his official capacity and
bear the impress of the seal of his Office.
The Auditor Of the State shall deliver such
Panama Exposition Company. which company
is authorized to sell the same for not less
than par as above provided, and the pur.
price directly to the Treasurer Of the State
Of Louisiana, which funds when paid into
the Treasury of the State shall only be paid
out for the purpose Of securing . site and
for the construction. equipment and main
tenance Of the exposition and shall be dis
Panama Exposition Company, approved by
the Governor. Treasurer and Auditor Of the
State of Louisiana. or any two of them.
All expenses, commission or brokerage in.
cident to the sale of said bonds shall DO
paid by the Worlds Panama Expositiea
Company out of other funds belonging to
said company, and no part of the Six Million
Five Hundred Thousand ($6,500, Ooo) Dollars
shall be used for such purpose, but the full
face OF such bonds must be received and
lana az above provided.