The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1910-09-01
lana, and there shall be written or
printed the following across the face of

lana. and there shall be written or
printed the following across the face Of
.aThis 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 boar
the impress of the seal of his cff'""
The Auditor of the State shall deliver
such bonds when thus certified to the
Worlds Panama Exposition Company.
which Company Is authorized to sell
the same for not less IT., than ! par as as
thereof shall be required to pay the
price directly to the Treasurer of the
State of Louisiana. which funds when
paid into the Treasury of the State
of securing a site and for the construc-
tion. 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
part Of the Six Million Five Hundred
Thousand ($6.5O0,0OO) Dollars shall he
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 CD of the
Acts of the regular session OF the Cen
f. 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
thereafter as long as any Of the bonds
herein authorized to be issued are OUT
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
principal or fraction of the principal
collected for the creation of Il sinking
fund with which to eventually retire
said bonds; provided that no tax ex-
ceeding one and one-half Ik) mills
shall be assessed and collected during
any one year: and provided further:
that If said tax of one and one-ha1f
1k) mills should be insufficient to pay
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 inn
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 OF
fraction Of the principal to constitute
a sinking fund for the retiring of said
he shall direct the assessor or Board OF
Assessors or such other AUTHORITY
charged with like duty of the City oil
New Orleans. or Parish of Orleans. t6
rate of taxation as will Weld an amour
sufficient to pay said interest and
fraction Of principal as aforesaid: pr~
vided that said tax shall not exceed mr.
one ard one-half 1h) mills for a.
one year This tax shall be assessed nv
collie ,ted 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-
thOrized to disburse the same to the
holders of the bonds herein provided
for. in payment of the interest and
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
of said bonds or from the levy ant
collection Of any tax or taxes hereiI
referred to shall by the Treasurer. b,
deposited in the same depository. il
the same manner. at the same rate o
interest and upon the same terms ant
conditions as are other State fund.
and all interest accruing upon sait
deposits shall be credited to the par
Vxh tnh fhn intn
was derived. and shall be used for tn.
same purpose for which the principa
, Of said sum is intended
, The bonds herein authorized and thu
tax levied and collected and pledge,
for the payment of said bonds shall
, constitute a valid and binding con
tract and the faith of the State o
. collection of said tax. authorized b.
said Constitutional amendments. unit
the final payment of all of said bonds
shall be exempt from all taxation
State. Parish: and Municipal. and tn,
!. tutors of minors and curators of in
terdicts are authorized to invest thu
! funds in their hands in said bonds
Any time after five years shall hav,
lapsed from the date of the issuance
, Of the bonds herein authorized. tn,
. Treasurer Of the State Of Louisian:
be authorized to apply the sinkin,
. fund to the retirement of any out
standing bonds. to the extent of sal,
fund, in their reverse numerical order
bondholders thereof by any advertise
. ment In one Of the papers published i,
the City. OF New Orleans and one pub
1 lea.f s,n IN the he. City OF New York. a
which the bonds are to be retired: Civ
] ing the number and denomination O
said BONDS: and If said bonds are no
presented for payment at such time
then the interest shall cease thereon
! The dissolution and liquidation o
the worlds Panama Exposition Com
pany shall! not in any manner affec
: the validity Of the bonds herein au
thorized to be issued by said corpora
ton or the collection of the tax lcvie,
by this Constitutional amendment o
by that proposed by Act No. 2 of 1911
This amendment to the Constitution
shall prevail over all other provision
OF the Constitution OF the State O
amendmsnt as Wen tss as any propose
voted on at the coming election to b
held on Tuesday next following tn
i first Monday In November. 1910. whic
j with. and shall be deemed supplement-
v al to the amendment proposed by AC
). No. Two 90 Of the Acts Of the regula
i session Of the General Assembly Of tn
;. state OF Louisiana for the year 1911
], and In case of conflict Herewith tn
( provisions of this amendment shall pre-
Z vail and this amendment shall be +
force and effect only in the event tn
e said proposed amendment submitte
/ for ratification by Act No Two (2) O
j. the Acts Of the regular session Of tn
4 General Assembly Of 1910 is ratified b
J the people at the Congressional electi0
i. to be held on Tuesday next folIowin
= the first Monday In November 1871
6 and is declared to be self-executin
n and to confer directly the authorit
!. herein granted without an enablin
4 act OF the Legislature.