St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-09-10

If the amendmsnt to the Constitution sap
of Louisiana for the year 1910 be ratinsoo
by the pople, then the entire amount q rsir
tax collected after the issuing OF BONDS nersln
provided for, shall be used exclusively for In4
purpose of paying the interest and prinoipaA
of said bonds and for no other pu ahpG have
been lapsed by the terms Of said prop9ss0
amendment, then each year thereafter as long
as any Of the p 90
and collected tax which is hereby levied
exclusively in the City Of New Orleans upon
all property subject to state sd honds
and fraction Of the principal or fraction
of the principal collected for the creation
retire ee sad proRded that tax
ceeding one and one-half (1h) mills shall
be assessed and collected during any. one
Of one and one-haH (lM} mills should bs
insufficient to pay. the interest and the prin,
cipal Of said bonds at the maturity thereof
and collected until the entire amount dus
paid
From and after the time the tax herein
levied becomes operative it shall be the duty
Of the Treasurer Immediately after the annual
listing and valuation Of the property IN the
ton to be imposed upon said property for
on said bonded debt and the fraction OF tag
the principal to constitute a sinking fund
for the retiring of said bonds. Upon ascer-
tanning said amount, he shall direct the as
authority charged with like duty OF City
of New Orleans, Parish of Orleans, to
extend upon the assessment rolls such rate
of taxation as will yield an amount sufhclent
to pay said interest and fraction OF prln-
cipa1 as aforesaid; provided that said tnx
shall not exceed one and one half q mins
fo, tov IA ha
and collected, without costs or commission,
in the same manner as State taxes are col.
sctsd and shall be paid BY the stats
Louisiana, who Is hereby authorized to dis
burse the same to the holders OF the bonds
apd due On 'sad bonds
the presentation to him Of the bonds or the
interest coupons as the case may Pc
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
Be deposited IN the same depository, in ths
same manner, at the same rate OF 1nterest
and upon the same terms and conditions 40
cruing upon said deposits shall be credited
to the particular fund from which the in
terest was derived, and shall be used Tor
the same purpose tor which the principal ef
The bonds herein authorized and the tsx
levied and collected and pledged tor the
valid and binding contract, and the faith Of
the State of Louisiana is pledged to the CON.
tinuous collection Of said tax authorized p. p
cipal and interest. Said bonds shalt BE-
from ~ nsdes q .na sn
tors Of interdicts are. authorized to invest
the funds in their hands in said bonds,
from amy the n date Of the issuance Of the Bonds
herein authorized the Treasurer Of the State
of Louisiana shall at any interest paying
and to 0s the Of
bonds, to the extent of said fund, in their
reverse numerical order, and the Treasurer
| advertisement in one of the papers published
iished in the City of New York, ct feas.
snd d'd determination a 10 Of said BONDS and il said
bonds are not presented for payment q such
The dissolution and liquidation OF ths
| Worlds Panama Exposition Company shall
not in any manHsr aasct the y,saity OF ~
corporation or the collection of the tax levied
| BY this Constitutional amendment or by thss
proposed by Act No. Two of 1910 a. afors-
This amendment to the Constitution shah
prevail over all other provisions OF tbs Con:
| as any proposed amendment to the Constitu.
tion to be voted at the coming election
TO be held on Tuesday next following the
first Monday in November, 1910, which may
directly or indirectly, conflict herewith, and
shall be deemed supplemental to che amend
ment proposed by Act No. Two 90 OF the
| Acts Of the regular session OF the General
Assembly of the State OF Louisiana for the
year 1910, and in case OF conflict therewith
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
election to be held on Tuesday mex. follow:
ing the first Monday. in November. 1910, and
| is declared to be self-executing and to confer
directly the authority herein granted without
an enabling act of the Legislature.
| That the official ballot to be used at the
said election shall have printed thereon the
| words:
aFor the proposed amendment to the Con.
stitution of the State of Louisiana, author
Panama Exposition Company and the levyias
OF a further tax in the City OF New. Orleans.
all in further aid of the exposition cele.
brating the opening of the Panama Canal, -
and the words, Against the proposed amend.
ment to the Constitution Of the State Of
the Worlds Panama Exposition Company and
the levying of further tax in the City Of
New Orleans, all in further aid Of the expo.
sition celebrating the opening OF the Panama
provided in the. general election laws Of the
| State whether he votes for or against the
pN'p'' P. M. LAMBREMoNr.
Lieutenant Governor and President Of the
| Senate
| Speaker OF the House Of Representatives
| Approved: August 10, 1910.