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

Senate Bill No. 1.

L.
JOINT RESOLUTION.
Proposing an amendment to the Constitueyo.
of the State Of louisiana authorizing The
worlds Panama Exposition Company 20
issue bonds and pledge the tax which is
R Res So x '1s ressu tho embodied
General Assembly of 1910. as well a. =
further tax in the City Of New Orleans. to
pc levied and collected only after the tag
isuH ea unosr the above resolution has
Section. 1. Be it resolved by the General
Assembly OF the State Of Louisians in extra.
the menbers elected to each house concurrina
therein, that an amendment to the Consti.
tuition OF the State of Louisiana be submitted
to the qualified electors of the State for their
approval or rejection. as required by Article
321 OF the Constitution Of the State of Louis.
lana, at the congressional election to be held
day of November. 1910. as follows:
In order that the tax authorized to be
levied by the Constitutional amendment bro
he regular session Of OF the Act.
OF the State Of Louisians for the year 1910.
may when ratified By the qualified elector:
OF the State be made Immediately available
ior the purpose Of constructing an exposi
ton to commemorate the opening of the
Panama Canal. the Worlds Panama EI
position Company be and i is hereby auth.
the United States shall designate the City
OF New Orleans as the location for an er.
position concentrating the. opening of the
Panama Canal; to issue bonds not to exceed
in principal Six Million Five Hundred Thou
sand ($6.5o0.000) Dollars. to bear q rate Of
interest not exceeding four per centum a per
to be sold for not less than par and to b.
due and payable in not longer than Atty
s30D years. payable at the Treasury Of the
the payment of said bonds, the tax proposeS
by the joint resolution embodied in Act M
Two t2) of the Acts Of the regular session
the year 1910. as we'll as . further tax here.
matter levied exclusively in the City Of Nev
Orleans. be and the same are hereby pledged
and interest. the said pledge of said tsx
shall s be deemed . valid and binding pledge
The bonds herein authorized to h. ,.,u.a
by the Worlds Panama Exposition Compsnv
shall be registered with the Auditor 81 M
State OF Louisiana, and there shall be written
or printed the following across the face Of
This bond in principal and interest n
secured by the levy Of special tax auth.
orized by amendments to the Constitution OF
which shall have affixed thereto the sign aturs
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 thug certified to the worlds
Panama Exposition Comp y. which company
Is authorized to sell the same for mon less
chaser thereof shall Be- required to ' nav p ~.
price directly to the Treasurer Of the State
Of Louisiana, which funds when paid into
the Treasury of the State shall only be paid
out for the purpose OF securing . site and
for the construction, equipment and main.
tenance Of the exposition and shall be dis
bursed upon the warrant of the worid's
Panama Exposition Company. approved b,
tho Governor. Treasurer and Auditor Of the
STATE Of Louisiana, or any two If them
All expenses commission brokerage IN
cident to the sale of said bonds shall be
paid by the Worlds Panama Cxnositior
Company out Of other funds belonging &c
said company, and no part of the Six Million
Five Hundred Thousand CSC. 500 OOo) Dollar
shall be used for such purpose. but the full
face Of such bonds murt be received And
paid into the Treasury of he 6tats e tavS
s>ss - - . Srovido1.