The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1910-09-15
.srhis bond IN princlpal and interest

'srhis bond In principal and interest
Is secured by the levy OF special tax
authorized by amendments to the Con-
adopted In 1910" which shall have at
fixed thereto the signature of the Aud
itor In his official capacity and bear
the impress Of the seal Of his office.
such bonds when thus certified to the
Worlds Panama Exposition Company.
which Company is authorized TO sell
the same for not less than par as
thereof shall be required to pay the
price directly to the Treasurer of the
State of Louisiana. which funds when
shall only be paid out for the purpose
paid into the Treasury OF the State
of securing n site and for the construc-
ton, 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
belonging to said Company. and no
part OF the Six Million Five Hundred
Thousand ($6.500.O0 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 Co of the
Acts Of the regular session of the Gem
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 paving 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 r >incipal
collected for the creation of a sinking
fund with which to eventually retire
said bonds; provided that no tax ex-
ceeding one and one-half Uh) mills
shall be assessed and collected during
any one year. and provided further,
that If said tax of one and one-half
11k) 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, 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
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 OriNns. to
extend upon the assessment rolls such
rate of taxation as will Weld an amount
sufficient to pay said interest an1
fraction Of principal as aforesaid: pro-
vided that said tax shall not exceed ole
one and One-half 1b) mills for roy
Sne year. This tax shall be assessed aat
c. -lected without costs or commission,
In the same manner as State taxes are
collected and shall be paid by the COL
lectors directly to the Treasurer of the
state of Louisiana, who is hereby au-
thorfzed to disburse the same to the
holders of the bonds herein provided
Tor, 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-
All funds arising hereunder which
go into the State Treasury whether
same have been realized from the sale
of said bonds or from the lew and
collectlon or any tax or taxes herein
referred to shall by the Treasurer, be
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 funds
and all interest accruing upon said
deposits shall be credited to the par
ticuiar fund from which the interest
derived IN ha A..
same purpose for which the PRINCIPAL
of said sum is intended
Ine bonds herein authorized and the
tax levied and collected and pledged
Tor the payment of said bonds shall
constitute valid and binding con-
tract. and the faith of the State of
louisiana is pledged to the continuous
CORRECTION OF said tax. authorized by
the flna! payment of all of said bonds
IN principal and interest Said bonds
s snail be exempt from all taxation,
tutors Of minors and curators of in.
terdlcts are authorized to invest the
funds In their hands in said bonds.
Any time after five years shall have
Of the bonds herein authorized. the
treasurer of the State Of Louisiana
snail. at any interest payment period.
pe authorized to apply the sinking
s stnd % the retirement of any OUT
Standing bonds, to the extent Of said
Iund. In their reverse numerical order,
and the Treasurer shall notify the
oondholders thereof by any ADVERTISE
me- IN. IN one Of the papers published in
ilshed In the City Of New York, at
ieast sixty days prior to the dav on
which the bonds are to be retired. Civ
ing the number and denomination of
sald bonds: and if said bonds are not
presented for payment at such time
tnen the interest shall cease thereon.
me dissolution and liquidation Of
.ne worlds Panama Exposition Com
pany sinai! not in any manner affect
the validity Of the bonds herein au-
thorized to be issued by said corpora
tlOn or the collection of the tax levied
py this Constitutional amendment or
Dy mat proposed by Act No. 2 of 1910
as aforesaid
This amendment to the Constitution
snail prevail over all other provisions
OF the Constitution of the State Of
amendment to the Constitution to be
voted on at the coming election to be
neld on Tuesday next following the
Ilrst Monday in November. 1910. which
may directly or Indirectly conflict here.
with. and shall be deemed supplement-.
al to the amendment proposed by Act
no TWO 20 Of the Acts Of the regular
session or the General Assembly Of the
STATE or Louisiana for the wear 1910
and IN case Of conflict Herewith the
provisions Of this amendment shall pre-
vall and this amendment shall be in
!orce ana effect only in the event the
said proposed amendment submitted
for ratification by Act. No Two (2) OF
the Acts Of the regular session of tho
General Assembly Of 1910. is ratified nv
tne people at the Congressional election
to be held on Tuesday next following
the first Monday In November. 1870
and Is declared to be seIf-executjnc
and to confer directly the authority
neretn granted without an enabling
act Of the Legislature
Sec Q. Be II further resolved. etc
That the official ballot to he used 81
the said election shall have printed
thereon the words.
For the proposed amendment to