The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1910-10-27

authorized BY amendments to the Com
stitution of the State OF Louisiana
adopted in 1910" which shall have at
itor in his official capacity and bear
the impress Of the seal Of his office.
The Auditor of the State shall deiiver
such bonds when thus certified to the
Worlds Panama Exposition Company;
which Company is authorized to sell
the same for not less than par az
above provided. and the purchaser
thereof shall be REQUIRED to pay the the
State of Louisiana. which funds when
shall only be paid out for the purpose
paid into the Treasury OF the State
ton. equipment and maintenance Of
tho 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
Exposition Company out of other funds
belonging to said Company and no
part Of the Six Million Five Hundred
Thousand (s6.5OO. OOo) 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 t2) Of the
| Acts Of the regular session of the Gen.
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
herein authorized to be issued are out
standins, there shall be assessed and
| collected tax, which is hereby levied
exclusively in the City of New Or
taxation. sufficient to pay the interest
upon said bonds and fraction of the
principal or Il fraction of the principal
| collected for the creation OF sinking
said bonds; provided that no tax ex-
| ceeding one and one-half uk) mills
shall be assessed and collected during
any one year: and provided further:
1K) mills should be insufficient to pay
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
on said bonds in principal and interest
is paid
From and after the time the tax
herein levied becomes operative.
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 tn,
fraction of the principal due that year OF
fraction of the principal to constttut.
sinking fund for the retiring OF sait
bonds. Upon ascertaining said amount
he shall direct the assessor or Board o
Assessors or such other authorit.
charged with like duty of the City o
extend upon the assessment rolls sue,
rate Of taxation as will yield an amour
! sufficient to pay said interest am
fraction Of principal as aforesaid; pro
one and one-half 1h) mills eor- m.
sne year. This tax shall be assessed an
collected without costs or commission
in the same manner as State taxes ar
collected and shall be paid by the col
lectors directly to the Treasurer of tn
State of Louisiana, who Is hereby au
] thOrized to disburse the same to tn
holders of the bonds herein provide
for. in payment of the interest an
principal due on said bonds. upon tn
presentation to him Of the bonds or tn
interest coupons as the case may be.
into u tSs stats S whs
same have been realized from the sal
: Of said bonds or from the levy an
collection Of any tax or taxes herei
|
, deposited in the same depository.
the same manner. at the same rate {
: interest and upon the same terms an
! conditions as are other State fund
Q deposits shall be credited to the PAL
ticular fund from which the interes
was derived, and shall be used for tn
same purpose for which the princips
of said sum Is intended.
. The bonds herein authorized and tn
3 tax levied and collected and pledge
for the payment of said bonds sha
and the ya atb and "f she
Louisiana is pledged to the continuou
!. collection Of said tax. authorized b
: said Constitutional amendments. unit
!. in principal and interest. Said bond
e shall be exempt from all taxation
State. Parish. and Municipal. and tn
!, tutors Of minors and curators Of II
terdicts are authorized to invest tn
funds in their hands in said bonds.
Any time after five years shall hav
: lapsed from the date of the issuanc
Of the bonds herein authorized, tn
i shall. at any interest payment perio'
be authorized to apply the sinkin
8 fund to the retirement Of any out
;. fund. in their reverse numerical orde
t. and the Treasurer shall notify til
e bondholders thereof by any advertis,
: ment In one Of the papers published
lished in the City of New York.
q least sixty days prior to the day q
e which the bonds are to be retired. 81,
ing the number and denomination
u said bonds: and it said bonds are nj
presented for payment at such tim
then the interest shall cease thereon.
:. The dissolution and liquidation
u the Worlds Panama Exposition Con
pany shall not in any manner affe,
the validity Of the bonds herein AT
thorized to be issued by said corpor;
ton or the collection of the tax levie
by this Constitutional amendment
BY that proposed by Act No. OF Isl
! as aforesaid.
This amendment to the Constitute
shall prevail over all other provision
Louisiana. as well as any propose
amendment to the Constitution TO I
voted on at the coming election to
8. held on Tuesday next. following II
- may directly or indirectly conflict her.
!. with. and shall be deemed supplement
= :, al to the amendment proposed by A
y No. Two l2) Of the Acts of the regul;
.; session of the General Assembly Of ii
!. state of Louisiana for the year 1911
8 and in case Of conflict Herewith II
= provisions Of this amendment shall pr
= vail and this amendment shall be
20 force and effect only in the event Il
said proposed amendment submitte
y. es for ratification by Act. No Two (2)
- the Acts OF the regular session Of II
rs the people at the Congressional electis
e. to be held on Tuesday next followir
+ the first Monday in November. 1871
, and is declared to be self-executin
ne and to confer directly the authors
~ herein granted without an enablir
T. act of the Legislature.
4, Sec. q Be It further resolved. ct
~ That the official ballot to be used
,s the said election shall have print'
Is thereon the words:
For the proposed amendment
- the Constitution of the State of I.oni
- lana. authorizing an issue Of bonds