Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-11-04
ACT No. 2
JOINT RESOLUTION.

oenht0 Dill NO. i.
JOINT RESOLUTION.
Proposing an amendment to the Constitution
OF the State Of Louisiana, authorizing the
worlds Panama Exposition Company to
issue bonds and pledge the tax which is
R Rs, Ss X joint resolution Il. in
General Assembly Of 1910. as we'll A a
further tax in the City of New Orleans. to
pc levied and collected only after the tax
lapsed.
Section. 1. Be It resolved BY the General
Assembly Of the State Of Louisians in extra.
the members elected to each house concurrine
therein, that an amendment to the Consti-
tuition OF the State Of Louisiana be submitted
to the qualified electors Of the State for their
approval or rejection. - required BY Article
321 OF the Constitution Of the State Of Louis
lana. at the congressional election to be held
day Of November. 1910. o. follows: ''A
In order that the tax authorized to be
levied by the Constitutional amendment pro-
the regular session Of the General Assembly
OF the State of Louisiana for the wear 1910
may, when ratified By the qualiHed electors
OF the state be made immediately available
ton to commemorate the opening Of the
Panama Canal. the Worlds Panams Ex.
position Company be and i Is hereby auth
the United states>shall designate the City
Of New Orleans as the location for an ex.
position concentrating the opening Of the
in principal Six Million Five Hundred Thou.
sand ($6. 500 .000) Dollars, to bear q rate OF
interest not exceeding four per centum a per
to be sold for not less than par and to be
due and payable in not longer than ffty
ue soo years PAYABLE at the Treasury of the
the payment of said bonds, the tax proposed
by the joint resolution embodied in Act No.
Two (2) of the Acts Of the regular session
N hA AssA -
the year 1910. as we'll IS . further tax here.
matter levied exclusively in the City Of New
Orleans. be and the same are hereby pledged
for the payment Of said bonds in principal
and interest, the said pledge of said tax
shall be deemed valid and binding pledge
The bonds herein authorized IN h. ,.,u.a
by the Worlds Panama Exposition COMPANY
shall be registered with the Auditor Of the
State of Louisiana, and there shall be written
or printed the following across the face Of
This bond in principal and interest is
secured by the levy Of . special tax auth.
ssl S BY amendments to the Constitution Of
which shall have affxed thereto the signature
Of the. Auditor in his Official capacity and
S bear the impress 3, OF the seal Of his ONCE
bonds when thus certified to the Worlds
Panama Exposition Company. which company
Is authorized to sell the same for no, less
chaser thereof shall Be required to nav the the
price directly to the Treasurer Of the State
OF Louisiana, which funds when paid into
the Treasury of the State shall only be paid
out for the purpose Of securing . site and
for the construction. equipment and main
tenance Of the exposition and shall be dis
bursed upon the warrant Of the Worlds
Panama Exposition Company. approved by
the Governor. Treasurer and Auditor Of the
State Of Louisiana. or any two Of them
All expenses commission or brokerage In
cident to the sale Of said bonds shall be
paid by the Worlds Panama Exposition
Company out of other funds belonging 10
said company, and no part If the Six Million
Five Hundred Thousand fs6. 500 OoO) 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 Louis-
lana - above provided.