St. Landry clarion. (Opelousas, La.) 1890-1921, 1910-11-05
Acr Ed. .
1oTnT RESOLUTION.

ACT No. 2
Senate Bill No. /,
JOINT RESOLUTION.
PEopoging an amendment TO the GonshtnNea
OF the State of Louisiana. artaeTizlnB sea.
Worlds Panama Exposition Company q.
iRsHe bonds and pledge the tax which ~
proposed BY joint resolution amoodlsd aa
Act no. Two I24 of the Acts o9 She
General Assembly ct ls5os g WI e. E
be levied Rnd collected only sitter the tax
levied under che above resolution has
Section. /. Be ii resolved by The General
Assembly Of the Stats Of Louisiana IN axtrse
ordinary session convened two'thirds os Oh
ne members slectea g zach hc1ss sonsgrrRg
tuition o. chs State Of Louisiana be subnaiste1
70 che qualified electors Of the State foE thals
8Si Of che Contribution Of the State 81 Louia.
lana, ct the congressional e~laetlon 20 b. hat6
On Ga Tuesday next following ths 6rst Nom
IA ordsr that sbe tax suthoriEea to be-
possd s. At Eo. Two (9l. q the Aots. q
et she State Of Louisiana Tor TIE year 1910.
may, when ratified BY the qgAliaed a~lestcgs
% Che State be made immediately available
tlea 10 aomrnemorats the opening Of che
Panama Canal, the Worlds panamA E9s
pcsltlpn Compsny bs and u % hereby auth.
No united States shall designate she Cfey
az New OPlaaus as the location tex On eZs
p~osition oonmsmorsting She opening Of sh9
u principal Six Million Five Hundred Tbea.
Rand (96,B00.eQ0l Dollars, Co beaR 8 rate az
Interest nOa excseding four PEI santpIn e RUE
% b sold Tor nos less than par and to IS
sue end payable Ia not Longer than n{eyI
SgSl years parable q re Treasury ot she
BAo p&ynaaS Of said bonds, tao tax proposed
~ One Joint resolution embodied IN Acs Ee.
81 che General Assembly 81 Ionislana sor
che ysar 1910, an we'll as q further tar here.
matter levied exclusively IN tho City Of New
Orleans, be snd the same are hereby pledged
and interest, the said pledge Of said tag
shall be deemed . valid and binding pledgs
and contract.
The bonds herein authorized to bs issued
by the Worlds Panama Exposition Company
ghall be registered with the Auditor of The
State of Louisiana, and there shall be wrisSea
or printed the following across she fsee q
said bonds:
This bond In principal and interest Is
secured by the levy Of s special tax auth
orized by amendments to the Constitntfon of
the State Of Iouisiana adopted In 1Q1G,ss
which shall have affixed thereto the signature
bear the impress Of the seal OF his oAlsas
The Auditor Of the State shall deliver sueA
bonds when thus certified 10 the Worlds
is authorized to sell the same for NOS lsga
than par as above provided, and the pur-
CHASER iQHEcOI SnB1l# De required To- nay NHH
price directly to the Treasurer 81 the Ststa
of Louisiana, which fund.- when paid inse
the Treasury Of the State shall only be paid
out for the purpose Of securing 8 site and
for the construction, equipment and main
tenance of the exposition and shall Be dsre
bursed upon the warrant Of tha Wovl8s&
the Gorernop. treasurer and Auditog 81 tSs
State Of Louisiana, or any " of them
All expenses, commission r5KsS&Ra7M
cident, 70 the sale Of said bonds shall b
paid by the Worlds Panama ExnoTSfAaa
Company out Of other funds belonging ~
said company aRd no part Of the Six Mfiiicn
Five Hundred Thousand ($6.600.0009 D5llars
shall be used for such purpose, but Che fulf
face Of such bonds must be received and
R ana lns0 ab sas T geosg sPs the state Of Louis.
II the amendment TO the Constitution sah.
mltted by Aot 10. Two sI3l Of the Assa Of
Of Louisiana for She year 1910 Be- rsEi8s3
by the pople, then the entire amount 81 sai5
tax collected after the issuing Of bonds hsreia
purpose OF paying the interest and p~rlneipal
Of said bonds and for no other purpose.
When the TAX thus authorized Bhail have
amendment, then each year thereafter 81 Ions
90 any OF the bonds herein authorized 10 bs
issued arc outstanding, there shall be assessed
exclusively in the City of New Orleans upon
sl property subject to State taxation, sun.
eIenf 70 pay the Interest upon said bUnda
OF the principal collected Tor the creation
Of 3 sinking fund with which to eventualiy
retire said bonds: provided that no tax ex,
ons and one-half l1%) mills shall
pc assessed and collected during any one
year; and provided further. that IL said tsx
one ana one.half 6Ihy mills should BE-
Insufficient to pay the interest and the Drin.
siipal Of said bonds at the maturity thereof,
then this tax shall continue and be assessed
az celieetea until the entire amount dge
osid.
From and after the time Inc tax herein
,eviad becomes operative, Ii shall be the duty
y the Treasurer Immediately after tha annual
listing and valuation OF the property ia tbs
llty oE Sew Orleans, TO fix the rate Of taxa
Ion to ne imposed upon said property fz
year sufficient to paw ths infareak
~ said bonded debt and The fraction Of the
1rlnclpal an9 That year Or che fraction Of
ne principal TO constitute 8 sinking fund
los the retiring Of Said bonds. Upon aacer.
aiming said amount, he shall direct the -
iessor or Board of ASSESSORS or Auch other
Iuthority charged with like duty 81 CITY
new Orleans, or Parish of Orleans. Ia
.xtend upon the assessment rolls such rate
Z .axaslon "a VII yield az anonnt a~uficient
spai as aforezaidi provided that eaid tan
4nan nos exceed one and one-hah E1M5 niIIs
81 any one year Yhis tx shaIl be assessed
q the same manner IS State taxes ars eoI.
scted and shall be paid BY the collectors
dEsetly to the Treasurer 81 the gfssa ~
louisiana, who is hsreby authorized "a ans.
lurss the same to the holders 81 hs t0a6s
lerain provided ior in payment OF this fns
1851 49, kttAsARAl uAE Oh eHtH 90HdH, HDGu
ne presentation To hsm of the bOnd5 er th6
1Serest coupons as the case may be-
AL funds arising hereunder which 20 into
ne state Treasury whether same hkFe 6eSa
ealized from the sale 81 said bonds Or zs51n
&c leTy ana eoaleeslsa of any tax 81 f4xea
erein Eexsgred 70 shAa ~ tbs TnaMsmse9.
9 nspeSltea tn TIE same deposttcry. Ri ths
manner at kns same rate Of in&ers6g
no Upon sae same terms end conditions
re otnsr State funds and an Interest as
rui1e upon sAfa deposits Bhnli be- credited
2 the particular fund from whieh tns RI.
crest vas derived, ard shall bs used sur
as same purPsse foE which she pxine1pal 81
,vs5S eoaaa asTssl authorized ana shs ~
!sAsA Aaq coIieese9 ana pledged Tor Chs
4shs o. gaid bonds ska1I consEituEs
H ~ 8ilaang contract. aad she fAiEh as
l9 state Of LoaEsiane Is pisdegd so fhW sors
Hi golsss1en 0X said tax, authorized 81
Ala U0Aasttugtoaai amendmsnts until fAa
nal payment of al az eai8 b%3d. Is ,Tssz
lpal and interest. Said bonds shagf be
Tealp! ron aA f~szafions State, Ehrish. and
sa1lgl2 ~ ana Sae tHsors en- minors end ruras
~ q InEera1ets Axa authorised To- invest
Z a1nAa u tnear aAnda I'D said bonda.
10y Inns a1ssk Aye years shall hsFa fapssd
W sse aAse ~ 100 issnanee or Me b0nds
9etaslfzsa tne Treasures Of tan Stats
L9naslanA sash ak any fntarsss paying
Ds e1Engrixed - apply The sinking
~ shs F~Atirsment ak any outstanding
g kne axtens " satS kuAd. II thslF
lg1nfilluea OF page ii
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