The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1910-09-22
..rhia hond in princlpal and interest


fixed thereto the signature of the Aud
itor in his official capacity and bear
the Impress of the seal of his office
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 than par as
above provided. and the purchaser
thereof shall be required to pay the
price directly to the Treasurer of the
State of Louisiana. which funds when
shall only be paid out for the purpose
paid into the Treasury of the State
OF securing n site and for the construc-
ton, 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.
age incident to the sale of said bonds
shall be paid by the Worlds Panama
Exposition Company out of other funds
belonging to g. said ,it,,. Company pan; and no
Thousand (sG.500.00o) 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 Louisiana as above provided.
IF the amendment to the Constitution
submitted by Act No. Two 81 OF the
Acts Of the regular session of the Gem
eral Assembly of Louisiana for the year
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.
! 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.
standing. there shall be assessed and
/ rinh ic ahU lou nd
exclusively in the City Of New Or
| leans upon all property subject to State
/ taxation, sufficient to pay the interest
upon said bonds and fraction OF the
collected for the creation of q sinking
| fund with which to eventually retire
said bonds; provided that no tax ex-
ceeding one and one-half ~ mills
| any one year: and provided further
that If said tax of one and one-half
/ 1h) mills should be insufficient to pay
the interest and the principal OF said
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 i'm
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 or
fraction of the principal to constitute
a sinking fund for the retiring of said
bonds. Upon ascertaining said amount.
he shall direct the assessor or Board of
Assessors or such other authority
charged with like duty of the City of
New Orleans or Parish of Orleans. to
extend upon the assessment rolls such
/ To ~ &c will WELD a a mo NJ
u sufficient to pay said interest anS
fraction of principal as aforesaid: pro-
vided that said tax shall not exceed oae
one and one-half 1h) mills fcr. coy
pne year. This tax shall be assessed aat
collected 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
principal due on said bonds. upon the
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
same have been realized from the SALE
of said bonds or from the levy ant
collection of any tax or taxes hereir
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 sale
ticular fund from which the interes
was derived and shall be used for thu
same purpose for which the principa
of said sum is intended.
The bonds herein authorized and thu
: tax levied and collected and pledged
for the payment of said bonds shall
constitute a valid and binding con
. tract. and the faith of the State o
| Lon 9 v,lad fn
collection of said tax. authorized b!
said Constitutional amendments unit
the final payment of all of said bond
in principal and interest. Said bonds
State. Parish. and Municipal. and tn,
tutors of minors and curators Of in
terdicts are authorized to invest tn,
funds in their hands in said bonds
Any time after five years shall hav,
: lapsed from the date of the issuanc,
Of the bonds herein authorized. tn,
} Treasurer of the State of Louisian;
shall. at any interest payment period
be authorized to apply the sinkin,
; fund to the retirement of any out
g 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 il
. the City Of New Orleans and one pub
least sixty, days prior to the day OF
e which the bonds are to be retired, Civ
ing the number and denomination o
J 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 snail 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 levie,
by this Constitutional amendment o
. as aforesaid
This amendment to the Constitution
shall prevail over all other provision
OF the Constitution of the State 0
amendment to the Constitution TO b
voted on at the coming election to b
held on Tuesday next following tn
first Monday in November. 1910, whic
:. may directly or Indirectly conflict here
with. and shall be deemed supplement
!, al to the amendment proposed by Ac
, No. Two ~ of the Acts of the rcgula
= session OF the General Assembly or tn
: State OF Louisiana for the year 1915
and In case Of conflict Herewith tn
:, provisions of this amendment shall pre-
= vail and this amendment shall be /
= said proposed amendment submitte
: for ratification by Act. No Two (2) o
= the Acts OF the regular session Of tn
= General Assembly of 1910 is ratified b
the people at the Congressional clectio
70 be held on Tuesday next fo1lowin
: the first Monday in November. 1871,
: and is declared to be self-executin
= and to confer directly the authorit
= herein granted without an enablin
J. act Of the Legislature
= Sec. 2. Be it further resolved, etc
. That the official ballot to he used /;
= the said election shall have printe
. thereon the words:
= For the proposed amendment t
L the Constitution OF the State Of Louis
q lana. authorizing an issue Of bonds b
!. the Worlds Panama Exposition Com
= pany and the levying of further Ia
~ In the City Of New Orlannv al IL, IN.