St. Tammany farmer., 1910-10-15

nitted by Act No. Two (2l Of the Acts q
the regular session of the General Assembly
by the pople, then the entire amount Of sait
tax collected after the issuing OF bonds herelI
provided for. shall be used exclusively for tnt
purpose Of paying the in.srsis n,s ana prnepa
When the tax thus authorized shall havs
been lapsed by the terms OF said proposed
amendment. then each year thereafter as lope
as any of the bonds herein authorized 70 bs
issued are outstanding, there shall be assessed
and collected . tax which Is hereby levied.
exclusively in the City Of New Orleans upon
cient to pay the interest upon said bonds
and fraction of the principal or fraction
Of the principal collected FOR the creation
retire said bonds; provided that no tax ex-
ceeding one and ons-haf 14A) mills shall
be assessed and collected during. any one
year and provide, further that said "a e
insufficient to pay. the interest and the prin-
cipal of said bonds at the maturity thereof.
then this tax shall continue and be assessed
and collected until the entire amount due
paid.
,o From and after the time the tar MTsin
levied becomes operative, it shall be the duty
OF the Treasurer Immediately after the annual
listing and valuation OF the property ia the
City OF New Orleans, to fix the rate Of taxa
tion TO be imposed upon said property for
on said bonded debt and the fraction Of the
psrlncapai PR due that year or the fraction Of
the principal to constitute q sinking fund
for the retiring of said bonds. Upon ascer.
tanning said amount he shall direct the as.
SCISSOR or Board of Assessors or such other
authority charged with like duty OF CITY
Of New Orleans, or Parish of Orleans. 10
extend upon the assessment rolls sp.;h rate
OF taxation as will yield amount sufficient
TO pay said interest and fraction u pr:n
c;pai as aforesaid; provided that said tax
snaii s not exceed one "a and one half q = mills
lor any one year This tax shall be asses ,ed
without nv ca a,nysx
IN the same manner as State taxes are col.
it;l, ieeted and shall be paid by the collectors
airectly to the Treasurer of the State Of
Louisiana, who is hereby authorized to dig
burse the same to the holders of the bonds
iierein provided for, in payments vi the in.
terest and principal due ON said bonds upan
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 sa lie OF said bonds or from
the levy and collection of any tax or taxes
be deposited in the same depository. in the
same manner. at the same rate Of interest
and upon the same terms and conditions as
are other State funds and all interest ac-
cruing upon said deposits shall be credited
to the particular fund from which the in.
terest was derived, and shall be used for
the same purpose for which the principal OF
The bonds herein authorized and the tax
levied and collected and pledged for tbs
payment of said bonds shall constitnte a
valid and binding contract. and the faith OF
the State of Louisiana is pledged to the con,
tinuous collection of said tax, authorised BY
fnal payment of all Of said bonds in prin-
cipal and interest. Said bonds shall be-
exempt from all taxation, State. Parish, and
Municipal and the tutors OF minors ard cura-
tors of interdicts are authorized II invest
The funds in their hands in said bonds.
Any time after five years shall have lapsed
herein authorized the Treasurer Of the STATE
Of L,ui lana shall at any interest paving
period be authorized 20 apply the sinking
bonds. to the extent of said fund. in their
reverse numerical order, ana the Treasurer
shall notify the bondhelders thereof by sn
in the City of New Orleans and one pub.
lished in the City Of New York. at least
sixty days prior to the day on which the
and denomination of .aid bonds; and II said
bonds not presented for payment a. such
time, then the interest shall cease thereon:
Worlds Panama Exposition Company shall
not in any manner affect the validity of ths
bonds herein authorized to be issued by said
corporation or the collection Of the tax levied
by this Constitutional amendment or by thae
proposed by Act No. Two of 1910 as afore-
said.
This amendment to the Constitution shall
prevail over all other provisions OF the Con-
stitution of the State of Louisiana. as we'll
as any proposed amendment to the Censtitu-
tinn to be voted on at the coming election
to be held on Tuesday next following the
first Monday in November. 1910, which may
directly or Indirectly conflict herewith afsa
ment proposed by Act. Nc. Two t21 OF tne
Acts Of the regular session Of the General
Assembly of the. State Of Louisiana for the
year 1910, and in Of conflict therewiJh
the provisions of this amendment shall pre-
vail and this amendment shall be-sin iurce
and only in the event ths said
No Two {2) of the Acts of the regular ses-
sion. OF the General. Assembly Of 1910 is
snsa seeon eg o be se hsd Rdops on
ing the first Monday in November. 1910, and
is declared to be self executing and TO coMfar
destyh the authorty ri I'M herein granted without
Section 2. Be it further resolved. etc,
That the official ballot to be used at the
said, election shall have printed thereon the
For The proposed amendment TO the Con
stitution Of the State of Louisiana. author,
PaI:ama Exposition Company and the levyisy
OF a further tax in the City OF New Orlesp /,
al in further .n aid Of the exposition csle:
and the words. Against the proposed an,nnti.
ment to the Constitution Of the Stats OF
Louisiana; /; auth orizing an Issue of bonds by
the leyying of = further tax in the City Of
New Orleans, all in further aid Of the expo
sition celebrating the opening Of the PanAma
provided in the general election laws cf the
Stale whether he votes for or against the
proposed amendment. ". 3
P. NJ LAMBREMOSr.
Lieutenant Governor and President OF the
Senate. 3aBsf
H. G. DUPRE,
Speaker OF the House of Representatives
Approved: August 10, 1910.
j. Y. SANDERS, gt
Governor of the State Of LouiMana-
JOHN T. MICHEL, f
Secretary of State
1t takes IN awful lot OF doctoring