The Comrade. (Winnfield, La.) 1890-1914, 1910-11-11
ACT No. 2
benHt6 BIZ NO. I.
" JOINT RESOLUTION.

Of the State of Louisiana, authorizing tho
Worlds Panama Exposition Company 70
= issue bonds and pledge the tax which is
proposed by joint resolution embodied in
Act No. Two (2) of the Acts of the
General Assembly Of 1910 as well well as a a
be levied and collected only after the tax
levied under the above resolution has
lapsed.
Assembly Of the State of Louisiana in extra;
ordinary session convened, two'thlrds OF an
the members elected to each house concurrlns
therein, that an amendment to the oonsIl
tuition of the State of Louisiana be submitted
to the qualified electors of the State Tor their
approval or. rejection, as required by Article
1921 Of the Constitution Of the state OF LOUIS,
lana, at the congressional election to be ac'd
on the Tuesday next following the frs, Mon
day of November, 1910, as follows,
In order, that the tax authorized to be
posed BY Act No. Two ~ of the Acts Of
the regular session of the General Assembly
Of the State of Louisiana for the year 1910,
may when ratified BY the aGa,ed eGfqTs
for the purpose OF constructing an EXPOSE
ton to commemorate the opening of the
Panama Canal the Worlds Panama Ex-
orized, when and not until the Congress, OF
the United States shall DESIGNATE the City
of New Orleans the location for an t ex,
position tommemorating the opening OF the
Panama Canal to issue bonds not to exceed *,
in principal Six Million Five Hundred Thou.
sand (S6. 500. OOO) Dollars, to bear a rate OF
interest not exceeding four per eemfnn "a Per
to be sold for not less than par ana to pc
due and payable in not longer than fifty
(50) years, payable at the Treasury OF the
State Of Louisiana; and in order to secure
the payment Of said bonds. the tax proposed
by the Joint resolution embodied in Act No
Two zof the Acts of the regular session o.,
of the General Assembly of Louisiana for
the year 1910, as we'll as further tax here re-
matter levied exclusively in the City OF New
Orleans, be and the same are hereby pledged
for the payment OF said bonas IN p aia pa
shall be deemed valid ana Dlndlng pieose
and contract
The bonds herein authorized to be 81 issued
by the Worlds Panama Exposition Company m,
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;
orized by amendments to the Constitution 10 ! Q,
the State Of aaopte4 NJ IN sanatnre
Of the Auditor in his official capacity a ano
bear the impress OF the seal !, Of ms ONCE
The Auditor Of the State shall t deliver Tos sHei
bonds when thus certified to the world
Panama Exposition Company which compan!
is authorized to sell the same for n. no, les
than par as above provided, ana me ne, p th
price directly to the Treasurer. OF the stat
Of pf Louisiana, which funds. when paid int
5 the Treasury of the State snail only pc pal
out tor the PrrpGss q and main
tenance of the exposition and snail ne Us
bursed upon the warrant OF the World
Panama Exposition uop pan an appopSe of tn
State of Louisiana, OF any two Of them. !,
All expenses commission, or broke ahaIl \ !,
cdent to the sale Of SAID bonds s snali ito
e esd Company my and no part Of the Six Mile
Five Hundred Thousand WV ~. poll q,
shall be used for such purpose. but the ~
face Of such bonds must be Z, received " "a. al
Maid into the Treasury OF the State OF Lou
lana as above provided.
S 49, II the amendment to the Constitution 81
mitted by Act No. Two (2) Of the Acts,
the neguiar session of the General Assemb
~ I,onisiana for the year 1910 be ratlh
by the pope then the entire an 6nnS ~ here
provided for, shall be used exclusively ior !
purpose of paying the interest and prlne1E
of said bonds and for no other purpoGse;i
When the tax thus authorized; sh ALan na
been lapsed by the terms OF said prop9G Is
amendment, then each year thereafter as 10
As any of tho bonds herein AUTHORIZED 10
issued are OUTSTANDING taere snd hereby
Exclusively in the City Of New orleans le;nl u s
ali property subject to State taxation, 81
Gent to pay the interest upon - say ~ fra pyt
and q fraction of the principal or q lfac.
Ss Of the principal collected for the cre s.la
Of "a sinking fund with which to eyensua
retire said bonds provided that NC -, TAX !,
ceeding one and one-half t11a mills 81
Be assessed and collected during ~ !. any any,
year; and provided further, that at i say ali,a
81 ono and onehalf m mills nsa sh 1Se 9,
e cipai Of said bonds at the maturity Their
and collected until the entire amount
on said bonds IN prlncipai anu ihtsA'ss
From and after the time the tax he e,
levied becomes operative, it shall pc e the q
Of the Treasurer immediately after Inc gu; ~
listing and valuation OF the properly ~
t 1Iitv Of New Orleans, to fix the rate OF II
ton ton to to be imposed upon said property
that sufficient s, tg pa Pay fra ,ci 'n Of
B u principal due that year or the fraction
The ny principal to constitute a sinking
for the retiring Of said bonds M s Upon th ~
tanning said amount ne saa., Or such
authority charged with like duty OF
Of New Orleans, or Parish Of Orleans a.
extend upon the assessment rolls sa su;c
- nav said interest and fraction Of ]
cinal as aforesaid; provided that SAG, ID.
not exceed one ana t one xha s. ssse
and collected, without costs or comm ms
IN the same manner as State taxes are
iected and shall be paid " t ne e stat
G1nsisisna who is hereby authorized 70
hnrse the same to the holders Of the b
herein provided for, in payment ho o. tn
ferest and prlnclpal uue vi ,ote1
tbe presentation to him OF the bonds o.
;nterest coupons as the case may pc
All funds arising hereunder which go
.ha 'Stafa Treasury whether same have
#.ss raaI gcd from the sale of said bonds or
The lazy and collection OF any tax - or y
berein referred to shall by the ! reas
hs denosited in the same depository, =
sams manner at the same rate OF. I'M
ND mon the same terms and condttoi
Sssssy arsl5 othsr State funds and all lntefes
All ar,,;ng mon said deposits shall be ere
r. Tie particular fund from winch "a
tera "a was derived, and shall DO uset
thas same purpose for which the prlhel[
sai,I- SIM Is Intended. e
THE bonds herein authorized ana 81, u u
ss5%S so,.;ad and collected and lodged toi
-. ~ want Of said bonds shall cuastit!
valid and binding contract, and, the ~ fa
3f$s8$* tha State OF Louisiana IS piedsed 20 wy
tisnons collection OF said tax. authorlz
tss2 said Constitutional amendments, ans
IN sa, Al aymeIlts ef all Of said bonds IN
; ns and interest Said sbonds shs
sysmnt from all taxation, state Parls1
! Sfnnicipal end the tutors OF minors {, anu
tors IL interdicts are ant boriZea 70 q
sbas ftn ds - shsir haEda IN said 6oaas;
s'A AM tine inter Ave years shall hay Z,
srom.. ia late OK the issuance OF the
harsth authorized, the Treasurer q tne
II Laiisiana shall at any IN erest
period be authorized to Apply #ts,e s. &