Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-10-21

II tine amendment 70 the Constitution s,A.
mitted by Act No. Two (2) Of the Xcts ~
the regular session of the General AssemhI~
Of Louisiana for the year 1910 be rsti6s5
by the pople, then the entire amount Of said
tax collected after the issuing OF bonds bers,n
provided for. shall be used exclusively for ths
purpose OF paying the interest and prncipai
of said bonds and for no other purpose.
When the tax thus authorized shall hsv.
been lapsed BY the terms of said propossS
amendment, then each year thereafter as Ions
rs any of the bonds herein authorized tn hs
Issued are outstanding there shall be assasssd
and collected q tax, which is hereby lev;sS
exclusively in the City of New Orleans upor
all property subject to State taxation sun
and fraction of the principal or a fraetio,
OF the principal collected for the creation
Of sinking fund with which to eventually
retire said bonds provided that no tar en-.
ceeding one and one-half az mills sh.i,
be assessed and collected during any on.
year; and provided further, that IL said "a.
Of one and one-half q " mills should Is
insufficient to paw the interest and the nr;,
cipal of said bonds at the maturity therrof
then this tax shall continue and be assessed
and collected until the entire amount drs
paid
From and after the time the tax her,;,
levied becomes operative, IL shall be the dutv
Of the Treasurer immediately after the annual
listing and valuation of the property in the
City of New Orleans, to fix the rate of tara
that TO Dc mPSsed upon said property for
on said bonded debt and the fraction Of -.
principal due that year or the fraction az
the principal to constitute a sinking fund
for the retiring of said bonds. Upon sscer.
SCISSOR or Board of Assessors or such oths,
authority charged with like duty Of Cit1
of New Orleans. or Parish of 0rleans "a
extend upon the assessment rolls such rate
to pay said interest and fraction of pr,n'
cipal as aforesaid; provided that said tax
shall not exceed one and ono-half (IM) mills
for any one year. This tax shall be assessed
and collected, without costs or commission
in the same manner State taxes are col.
lected and shall be paid by the collector
directly to the Treasurer o. the State of
Louisiana, who is hereby authorized To dis
burse the same TO the holders OF the honda
herein provided for. in payment of the In.
terest and principal due said bonds upon
the presentation to him Of the bonds or ,hs
interest coupons as the may be-
All funds arising hereunder which 20 into
the State Treasury whether same have been
realized from the sale OF said bonds or from
the levy and collection of any tax or taxes
herein referred to shall by the Treasurer
be deposited in the same depository, in the
same manner, at the same rate of Interest
and upon the same terms and conditions AZ
are other State funds and all interest &C.
cruing upon said deposits shall be credited
to the particular fund from which the IN
terest was derived. and shall be used 70,
the same purpose for which the principal az .
said sum is intended
Inc DOuuS herein autnOrlTeQ and the
levied and collected and pledged for the
payment of said bonds shall constitute 4
valid and binding contract. and the faith Of
the State of Louisiana is pledged to the con.
tinuous collection of said tax, authorized bv
said Constitutional amendments. until the
final payment Of all of said bonds in prin-
cipai and interest. Said bonds shall be
exempt from all taxation State, Parish ana
Municipal and the tutors of minors and curs.
tors of interdicts are authorized to inyest
the funds in their hands in said bonds.
Any time after five years shall have lapssd
from the date Of the issuance of the bonds
herein authorized, the Treasurer of the State
OF louisiana shall at any interest paving
period be authorized to apply the sinking
bonds, to the extent of said fund. in thsiS
reverse numerical order, and the Treasurer
shall notify the bondholders thereof by an
advertisement in one of the papers published
in the City of New Orleans and one pub.
lished in the City of New York. ut least
sixty days prior TO the day on which the
bonds TO be retired. giving the number
and denomination of said bonds: and IL said
bonds are not presented for payment at such
time, then the interest shall cease thereon.
The dissolution and liquidation of the
Worlds Panama Exposition Company shall
not in any manner affect the validity Of the
bonds herein authorized to be issued by said
corporation or the collection of the tax levied
by this Constitutional amendment or by that
said. - WV " ' 80 ''''''
This amendment to the Constitution shall
prevail over oil OtutT plONlSIbnS oil the Con-
stitution Of the State of Louisiana. as we'll
as any proposed amendment to the Constitu-
tion to be voted on at the coming election
to be held on Tuesday next following the
directly or indirectly. conflict herewith. srd
shall be deemed supplemental to the amend.
ment proposed by Act. No. Two t2) Of the
Acts OF the regular session of the General
Assembly of the State of Louisiana for the
year 1910. and in case of c,ra~t 'he,-,vith
the provisions of this amendment shall pre-,
vail and this amendment shall be I'm force
and effect only in the event the said proposed
amendment submitted for ratification by Act
No. Two CD of the Acts of the regular ses-
ZION Of the General Assembly of 1910 10
to- be- hes on hs sss.
ng the first Monday in November, 1910, and
$ declared to be self-executing and to confer
directly the authority herein granted without
Section O. Be Il further resolved. etc.
That the oficial ballot to be used Of the
.sid election shall have printed thereon ne
words:
For the proposed amendment to the Coa.
'titution of the State Of Louisiana, author
zing an issue Of bonds by the WORLDS
Panama Exposition Company and the leyytas
III in further aid of the exposition cels.
orating the opening of the Panama Canal"
md the words. Against the proposed anail.
ns n.;, to the Constitution Of the Stat:
he Worlds Panama Exposition Comp any and
he levying Of q further tax in the City Of
View Orleans. all in further aid Of the expo
canal" and eaca elector shall indi:ste, a.
provided in the general election laws a the
State whether he votes for or against the
r. NJ. LAMBREMoyf.
Senate.
II. g. DUPRE,
Speaker OF the House of Representatives
AnprDySd. AUQner 10 1910