St. Landry clarion. (Opelousas, La.) 1890-1921, 1910-10-01
ACE No. .
Senate Bill NO. 4

ALL NNs IT.
Senate Bill No. /.
JOINT RESOLUTION.
p~onos;nr nm amendment 20 the Constitution
oil the State Of Louisiana, aut1oElaans va
Worlds Panama Exposition JompanE
issue bonds and pledge s ms 'smbodisa m
Act No. 1--WE (2l OF the Acts e sns
General Assembly Of 1919, g. $3.50 Msssa
ba IsSisd and collected only after the tax
levied under the above Ees01ueuA ass
sapcstion. Be it resolved by the General
Assembly OF the State Of Louisiana r. s Z
ordinary session convened sWossaaE1s
the members elected to eaen no1sS Tona9is
tuition 81 the State Of Louisiana Ds s4nHalstSe
Is enc qualified electors Of the. state 1os 49,
sBPso og ~ fCoSEtisuticn Of the STATE of Louie:
lens, AZ t6s congressional eIecttcn g ge 9saa
o. Che TnssdaY next following s1s nrss AOn
s eTSsp thst the tax authorized 70 Dol
laTfsa by the Constitutional ansndInene gxos
posed s. Act 10. Ty9 ess a g ne As AeaS Il
81 shs gfess 81 Loulsians for tha year 1910
msy, when ratified by the 9nalaed slsss2Fs
q The s1aso be made imnSa3rssl 81 sllrnaos3s.
4jon Ia commemorate the opening ox 61a
Psnana Canal. the WorId's EanSns
Ssiss6. when and not until the Congress
ghe United States shall designate she 0sGt
o. Naw Orleans as the location 5or y a.
gSs $3.50 Ssnsf - issne bends not 10 exceed
Ia u~r2ncg6sf sIx Million Five Hundred Ihop.
sand t$g, 100000 DollsEs' 70 os sat,, : K ~ ,g y
eenS1 per annam 10 be paid se~m1Annpal4gs
10 30 sold So9 not less than paS ard to Pc
1851 years. payable at the Treasury Of the
essEa az Louasfsnsi and in order TO secure
S9 payment OF said bonds, t6s saz PROPOSE
Two fs1 Of She Acts Of the regular session
Of Che General Assembly Of Louisiana IoR
ths year ia l9l9' . e Wsn rs Il f the oits sa 81 Nav
Orleans, be and the same are herepy pIeage9
for the payment of said bonds ~ prineipaL
shall be deemed a valid and binding pledge
The bonds herein authorized to be issued
nv the Worlds Panama Exposition Company
g6all be registered with the Auditor Of ehs
state of Louisiana, ard there shall be written
or printed the following across the lace o.
This bond in principal and interest ia
secured by the levy of q special tax autn.
orized by amendments to the Constitution eS
tbe State of Louisiana adopted In $780, -
which shall have affixed thereto the slgnatuE9
Of the Auditor in his official capacity sn0
hear the impress Of the seal OF his 0adGe.
The Auditor OF the State shall deliver sush
bonds when thus certified to the WoglA3
Panama Exposition Company, which company
is authorized to sell the same for nos less
than par as above provided, and the pun
chaser thereof shall be required 20 pay ths
price directly to the Treasurer Ct re s4aIe
az Louisiana, which funds when paid into
the Treasury Of the State shall only be paid
out for the purpose OF securing 9 stts IS
i for the construction, equipment and ndALn.
{ tenance of the exposition ana snaA De 95s
t bursed upon the warrant Of the World
/. Panama Exposition Company, approved ~
the Governor, Treasurer and Auditor 0e TIC
State of Louisiana, or any TWO Of them.
Ill expenses, commission. or bEokerags u
. cident to tho sale OF said bonds RhaAs aa
! paid by the Worlds Panama Exposlti9n
Company out of other funds belonging "a
F Fale f annpdred thousand rho 5ss, . o'oo5o5 Dollars
: shall be used for such purposes but the tull
I face of such bonds n1ust be received and
i paid into the TreasuryyQf the State OF Louis.
lana as above provided:
s mitted by Act No. Two ~ of the Acts g
: the regular session of the General Assembly
Of Louisiana for the year 1910 be 9EtIaee
by the p0ple, then the entire amount Of eagG
tax collected after the issuing of bonds hereir
nrovidsd for. shall be used exclusively Tor I'll.
purpose Of paying the interest and pxincfpa
Of said bonds and for no other purpose.
When the tax thus authorized snail nav
been lapsed by the terms Of said proposes
4. amendment, then each year thereafter ss lorl
as any OF the bonds herein authorised 70 q
issued are outstanding there shall pc ~asgesse!
and collected q tax, which is hereby levied
exclusively in the City of New Orleans upQl
all property subject to State taxation, sun
cient TO pay the interest upon said bono
and a fraction Of the principal or 2 frae4iol
Of the principal collected for the ereaIol
of a sinking fund with which to eventual
~ retire said bonds; provided that no tax eN
4 ceeding one and one-haIf (14&9 mills saal
be assessed and collected during any. %
year; and provided furthsr, that At SAID e
of one and one-hsIf (Ih} mills should B
insufficient to pay the interest and the pel1
cipal Of said bonds at the maturity thexao'
~ then this tax shall continue and be asseEss
VI and collected until the entire amount du
:. paid.
! levied becomes operative, it shall be the dut
~ of the Treasurer immediately after the annui
~ listing and valuation OF the property in tn
q. City Of New Orleans, to fix the rate of tax
IA ton to be imposed upon said property g
that gear ,sgficisnt e pay the inters.
"A on said bonded debt and the fraction OF u
~ principal due that year or the fraction (
III the principal to constitute q sinking tun
tanning said amount, he shall direct the q
all SCISSOR or Board Of Assessors or such 9TH
authority charged with like duty Of Cyl
all Of New Orleans, or Parish of Orleans,
= extend MON the assessment rolls such RAJ
Ila Of taxafi i az will yield an amount sufdciel
to pay said interest and fraction 81 pri
shall not exceed one and one-haH LINZ mil
all for any one year. This tax shall be Gssessl
and collected, without costs OF conmissio
Iss in the same manner as State taxes are 81
lected and shall be paid by the collecto
N. directly to the Treasurer Of the State
Louisiana, who is hereby authorized 70 ~
II. burse the same to the holders of the bon
herein provided for, in payment Of tho
oil terest and principal due on said bonds. up.
the presentation to him Of the bonds or q
all interest coupons as the case may be,
All funds arising hereunder which 70 in
ed the State treasury WheGAer same sRVe be-
realized from the sale of said bonds or fro
i'm the levy and coliectiPn OF any tax OF tax
herein referred to shall by the Treasnzl
all be deposited In the same dapository, III {
same manner, as the same rate Of intere
fhs and upon the same terms and conditions
Gre other State funds and all interest &
ION eruing upon said deposits shall be- credit
TO this particular fund fEom which the
ina serest was derived, and shall be used I
the same purpose for which the principal
tha said sum is intended.
The bonds herein authorized and the {
levied and collected and pledged Tor {
payment of said bonds shall constitute
tin valid and binding contract, ard the faith
the State Of Louisiana is pledged I'd the *
cba tinnous collection of said tax. authorized
said Constitutional amendments, until I
tan Anal payment Of all of said bonds la pr
the cipsl and interest. Said bonds shall
exempt from ali taxation, State, Parish; i
Municipal and the tutors OF minors and Gu
tors OF interdicts are authorized 70 inYi
Inc the funds in their hands in said bonds.
Amy time after Eve years shall have iaPs
rest from the date of the issuance Of the boa
herein authorized, the Treasurer 81 the st
of L0nisiana shall at any interest payi
ION period be authorized to apply the sink
,tTs Fund TO the retirement OF aDy outstaadi
bonds. to the extent Of said fund. in til
- CONTINUED on page %
Ync b rR q F9EMERF