St. Landry clarion. (Opelousas, La.) 1890-1921, 1910-09-10
ASH No .
DHNNbS Din NJ. 4
JOINT RESOLUTION.

All 290s u
Senate Bill No. i.
JOINT RESOLUTION.
Proposing an amendment to the Constitution,
Of the State Of Louisiana, authorizing Aha
Worlds Panama Exposition Company fof
issue bonds and pledge the tax which is,
Act No. Two ~ of the Acts 81 the
General Assembly Of 1910, as Wala az 81
further tax in the City Of New Orleans 10
DO levied and collected only after che tax
levied under the above resolution has
Section. /. Be it resolved By the General
AEgembly Of the State OF Louisiana In extgas
ordinary session convened tw0-thira@ On kl
4hs members elected to each house c0neu74ink
$asaein, that an amendments TO. ne .09nFhS.
tuition OF the State Of Louisiana be eUnmtstedI
10 the Qualiaed ele6t0Es of the State Scr shelr
Ap9Soyal or REJECTION, % required by Article
s51 Of shs oonEtitusign Of the 9ist9 D. Louis.
on She TueSday nax8 following th0 6gat Nom
day Of November 1910, as folI0EsE-
I.ys1a g rs sns sn dsDs W. "a sessSgasss 70 es1
p9sSa 6Y Aes No. Two f21 or eh8 Acts of1
AAsb 4s80tar session OF the General Assanbiya
of che @aata OF LonsaSaaa 38RxabA yagY a19&9
ma9, whom xasiked By the a6atae6 aIeqtors
CD She State be made immediately Available
AoR She purpose Of contracting an Sxpeab
NO% so o0ru1eInoHates tire @pehfAw or Ghss
Ps4amR qAnsI. the Worlds Pa6ama E&3
p0satlon Company be and sesis Msgeny auth
esise@ when and not until th0 Congress- eS.
ne united. States shall designate che City
az New Orleans % She location foY an OK
Roaa90a concentrating the openina DC tie
RsnaSaa Canal t9 sagas bonds mot To- sxcaed
Psnd [s6,600.0o0 Dollars 30 beaR 8 rata OF
sMt9yess not exeeading four per cenAuna "a peH
esAsl peg anaHza Y Be paid sen~i.a1naall
@#e. and payable IN rot longer than dtey
NgVy years payable at She Treasury OF the
Sa y aSae u ala Soads I tS esq tsx % oro s !
IN she 3oine geaolasion embodied In AcS No.
1No tSl OF tie Acts ct the regular session
OF Che General Assembly of Louisiana for
matter levied exclusively in the City Oh New
Orleans, be and the same are hereby pledged
Tor the payment of said bonds In principal
and interest, the said pledge of said tax
shall be deemed . valid and binding pledge
and contract.
by the Worlds Panama Exposition Company
shall be registered with the Auditor OF the
State Of Louisiana, and there shall be written
OF. printed the following across Che face OF
said bonds:
This bond in principal and interest d
secured by the levy Of a special tax auth
orizad by amendments to the Constitution Of
the State of Louisiana adopted in iD16,As
which shall have affixed thereto the signature
Of the Auditor in his official capacity and
bear the impress Of the seal Of his ONCE.
The Auditor of the State shall deliver such
bonds when thus certified to Che Worlds
Panama Exposition Company, which company
Is authorized to sell the same for not less
than par as above provided, and the p6Sa
chaser thereof shall be required to pay the
~ ~ 1AANNS1T va .AAN VNS - - VA0 ShNVV
OF Louisiana, which funds when pafd into
the Treasury of the State shall only be paid
out for the purpose OF securing 8 site anG
for the construction, equipment and mains
tenance Of the exposition and shall be- dfa4
bursed upon the warrant of the Worlds
Panama Exposition Company, approved hS
the Governor, Treasurer and auditor "a ska
State OF Louisiana, or any two Of them.
All expenses, commission or brokerage In.
paid BY the Worlds Panama Exr5ssftson
Company out Of other funds belonging td
ssid company, and no part Of the Six Million
shall be used for such purpose, but the full
face Of such bonds must be received and
PAID into the Treasury pf the State Of Louis
II the amendment to the Consultation Sab
mitted by Act No. Two t2l Of th8 Acts OF
Of Louisiana for Che year 1910 be ratified
by the pople, then the entire amount OF aasd
tax collected after the issuing Of bonds herein
provided for, shall be used exclusively for the
purpose Of paying 4hs interest and principal
Of said bonds and for no other purpose.
When the tax thus authorized shall have
been lRpsed by the terms of said proposed
amendment then each year thereafter as long
as any of Che bonds herein authorized to Be
Issued are outstanding there shall be assessed
exclusively in the City Of New Orleans upon
All property subject TO Stats taxation, sufi-
Gent TO pay the interest upon said bonds
and . ~fractlon 81 the principal or ! fraction
Of the principal collected for the creation
OF 0 sinking fund with which to eventually
va 0AAA huA4hs PENFAASQ@ bnAb no YAK 6&-
ceeding one and ene.half t1Al milis shall
be assessed and collected during any one
year; and provided further, that It said tax
of one and one-half t1h5 mills should be
insufficient TO pay the interest and the prin-
cipai of said bonds at the maturity thereof,
then this tax shall continue and be assessed
and collected until the entire amount due
paid.
levied becomes operative, it shall be the duty
Of the Treasurer immediately after the annual
listing and valuation of the property In the
City Of New Orleans, TO fix the rate Of taxa
lion TO be imposed upon said property for
shat year sufficient to pay the interest
on said bonded debt and Che fraction 81 the
nrlnclpal due that year Or the fraction Of
fog the retiring Of said bonds. Upon aseer-
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, to
aZfend upon the assessment rolls such rate
TO pay said interest," and fraction 0f prin-
cipal as aforesaid provided that said tax
shall not exceed one and one.half tn mills
aor any one year. This tax ghall be assessed
and collected, without costs or commission,
"a the same manner as State taxes are col,
lected, and shall DO paid BY the collectors
directly to the Treasurer OF the State OIL
Louisiana, who is hereby authorized to dial
burse the same to the holders OF the bonds
serest and principal due on said bonds, nponl
the presentation to MIN OF the bonds 81 thel
interest coupona as the case may be.
All funds arising hereunder which % fntol
the State Treasury whether same have besnI
realized from the sale of said bonds or froml
the levy and collection of any tax or taxes
herein referred to shall BY the Treasured
be deposited in the same depository, IN thel
same manner, OF the same 4rste of Interest,"
and upon the same terms and conditions asE
are other State funds and all interest ec-I
upon said deposits shall be- credited
20 the particular fund from which the in-k
terest was derived, and shall be ased Rorl
She came purpose Tor which the principal al
said sum is intended.
The bonds herein authorized and the taxi
levied and collected and pledged for thel
payment Of said bonds shaIa constitute s
valid and binding contract, snd the faith oil
the Gkate Of Louisiana ss pledged to the conf
SannOus collection of Bafd tax. authorized NJ
said Constitutional amendments. until SheI
anal payment Of MI Of said bonds III prin.
ciDal and interest Said bonds shaft De-
from all s~axation, Stste, Parish, sn9l
Municipal and the tutors OF minors and eura4I
Tors Of interdieSa axe authorized 20 Invest
the funds IN their hands In said bonds.
ANY time a3ter ave years stall have leDsed
SKom the date Of the issuance Of the h6ndgt
aerein authorized, the Treasurer of the 9tafe
Of Louisiana shall Sc any interest paying
period be authorized 70 Apply the s1n&lasi
20 the Tesiremenk Of any outstanains
bondss to the eXsent Of said lard Is skair3
CONTINUED Q IN tpage OF