St. Landry clarion. (Opelousas, La.) 1890-1921, 1910-10-29
ACT No. q
ganate Bin No.
JOINT RESOLUTION.

8anabe Bill No. i.
JOINT RESOLUTION.
Proposing an amendment to the 0onstitutionb
~ Szor sls state Of Louisiana, aufhorizing ta9
woEt9,s Panama Exposition Company 20
ssas o9nds and pledge the tax which Is
proposed BY soint resolution embodied in
4ss as, Two (21 of the Acts OF tho
further tax IN the City Of New Orleans %
ne levied and collected only after the tax
isvae4 under the above resolution has
s6ctsn. /. Be il resolved by the General
AsgSmlly of tha State Of LnuisaAna 80 ezsES:
ggeanaFy session convened. two-thiyds eS gu
Sne @ekaner9 elected to each house eCncuT9EnS
Shsrsia, that an amendments to the 0onsa.
euaqn a2 She State Of Louisiana be submitted
60 tho gaaHasd electors Of the State for t1asr
s81 OF fhe Constisution Of he State % Louis,
5aaes Al mo Congressional elsEtaM % ne eako
o. eA9 Tuesday next following ahe arst Nom
IN egdss hat the tax snSho9izsd TO be
3svssd by the Constitutional amendments ESQ
pasea % Aee 10. TWO. t2l os She Acts e
81 Ghs 9taae a. Louisiana fer The yeaE, 1910.
g3ays RAen ratified by the qualnAad eIe9s9Es
0S e9e Slate be made immediately Av@lA1lS
zgI sc purpose Of constTnsSxng an e5pg
sac1 n commemorate b Dpeptng Of h1e
9@2sEs gAael, the WoTlase Panama
peese4qa Company be and - - Assapy 49,
esGzea when and NOT until the Congress- z
rs United States shall designate ths Jay
Gg Egw Orleans as the location for an SEs
posaSM oonnaemorating the opening Of enc
Fana4a Camel 70 Issue bonds mol. 20 exceed
5n pSsneigAl SIX Million Five Hundred 4.n9os
sand ts8,B00,te0l Dollars, 50 h0a9 . xasss9E
tnssSaa net a1sssding four peg centrum 1s
eEnsH PH annaam to be paid semi-annualty
% ba sela sos got less than par and % ~
tk1S ysaTa payable at the Treasury OF She
%sa&e o2 Lguiaiana; and Ia order 70 secure
aas paygnsaA Of said bonds, the SaH propossn
- Gs feAnS rasointfon embodied In Act No.
gWo I'D OF tbs Acts of the regular session
q The General Assembly Of Louisiana L0E
the ysar 1919. as well as 2 f1rth e. gag h p5ssy
Orleans, be and the same are hereby p.leQBe55
for The payment of said bonds n prl1eap8L
and interest, the said pledge OF Sale ~
shall ha deemed a valid and binding pieo8s
ms bonds herein authorized 10 be issued
by The Worlds Panama Exposition =
| hall be registered with the AUDITOR OF me
state III Louisiana, and there shall be wr1tSG4.
III printed the following across the faea oL
slid bonds: 4
sechsaa bv the levy Of n special tax auSh,
oriad liz amendments to the G0nstltntlon Y
the gEssAof Louisiana adopted in 191Vs
whl6ssks have affixed thereto the signREHe
Of Ms hditor in his official capacity sno
ben impress of the seal OF ms oMos.
NE Tor of the State shall deliver euql
/ boBsf Aen thus certified to the NpEl0a
Pmtns Exposition Company, which eomp2ns
led TO sell the same for NOS las
las above provided, and the PVT
ssk shall be required 70 pay
IA diTeg% 1SamTreasurer af 4
sbe TreasuTy Ashall only be pss
cut for the puTpa "a eI q H.
for the CONSTRUCTORS &amer a1u M5
~tensnce of the ,expoaltionnd shall be
hursed upon the waITHn4 A Faa Worlds
Panama Exposition Comnag. approved nB
she Governor. Treasurer 81 auditor of me
State Of Louisiana, or any ri 81 them.
All expenses, commission brokerage ~
cident to the sale Of said ends shall! B@
psid by the Wori98s Fan6R ExpoaihgA
said company, and no part ofta Six Million
FiYe Hundred Thousand tS6, 5A0n0Ol Dollars
shall be used for such purppss but the full
4 face of such bonds must be sseaivsd En&
paid into the Treasury pf the sa OK Louls-
lara Bis above provided.
II the amendment to the GonMstnfiCh CUB
mstted by Act No. Two ~ OF a Acts 0&
ths regular session Of the GeneT@ Aagembka
II louisiana Tor the year 1910 As retfRad
by the pople, then the entire amous OF said
fax collected after the issuing Of boHlE herein
nrOyided for, shall BIO used exclusively for the
nnrpose Of paying the interest and minbipaB
81 said bonds and for no other pnrNSse.
When the tax thus authorized shat have
ham Iapged BY the terms ot said prgpoaa@
amendment, then each year thereafter salonE
al any OF the bonds herein authorized ts Be
issued are outstanding, there snail pe asssssss
exclusively IN the City of New Orleans uIN1
ali property subject TO State taxation, surg
oient to pay the Interest .pppn said BONG
a HUu q 1THEAH5M ~ ZIG AAA1alN - GN@ 81
81 the principal collected for the ere ~
Of q sinking fund with which to event ~,
retire said bonds; provided that no tax e@
ceeding one and one.hRh tl1a mills Sa3l
M assessed and collected during any 9hs
year; and provided further, that Il sala e
|, 81 one and ons-hal1 l1H3 mills shonlo ~
Insufficient to pay the interest and t1e TIN
cipal OF said bonds at the maturity thel aoa
j then this tax ghail continue and be asHehaa1
and collected until the entire amount a@a
on said bonds In principal and interest =
From and after the time tho tax hsret
levied becomes operative, it shall be the duG
J Of the Treasurer Immediately after the ann1s
! listing and valuation OF the property n tn
! City of New Orleans, To fly the rate ct taLA
]. ton to be imposed upon said property 70
chat year sufficient to pay the 1nters5
/ On said bonded debt and ths fraction OF th
/ principal due thai year On the Traction 9
I fhe principal to constitute . sinking tun
j for the retiring Of said bonds, Jpop asesi
taining said amount, he shall direet the q
i SCISSOR or Board bf Assessors or snch Gfbs
authority charged with like duty of CT
i Of New Orleans, or Parish of Orleans, !
extend ZION the assessment rolls such raj
J 81 taxi, 4 as will yield en- rmopnt ~saficisE
TO PAL said interest and fraction Of prfl
/ cipaI as aforesaid; provided that said Ga
shall not exceed one ana one-hatI ia mil
and collected, without costs or Eomunfssiul
) In the same manner as State taxes are co
lected and shall be paid by the collector
). directly TO the Treasurer Of the State 1
Louisiana, who is hereby authorized to df
! 6urse the same to the holders OF the bond
herein provided for, in payment of the 81
I Serest and&prineipai due on said bonds. upn
the presentation to him of tho bonds or III
i interest coupons as the case may be.
Ali funds arising hereunder which go ia.
( the State Treasury whether same have bee
realized froH the sale OF said bonds or fro
/ the levy and coIlectiBn Of any tax Or tax
herein referred to shall by the Treasure
/ be deposited in the same depository, In Il
same manner, at the same rate uf intere
! and upon the same terms and conditions
are other State funds and all interest \
j eTuing upon gaid deposits shall be credits
to the particular fund from zhish Che {
. Serest was derived, and shall be ueed b
she same purpose for which the principal
) said sum is intended.
The bonds heTein authorized and the Ii
/ levied and collected and pledged Tor II
payment Of said bonds shall cenatitute
i valid and binding contract, mi the faith
the State Of Louisiana fa pledged to the az
tinuous collection Of said tag, authorized
said Constitutional amendments, until d
j final payment Of all OF said bonds ia mi
j eipal and interest. Said bonds ehaif
Municipal and the tutors OF minors and cut
tors of interdicts ara authorized To inve
j the funds in their hands in said bonds
ANY time after Ave years shall have lans
from the date Of the issuance az ms hon
herein authorized. the Treasurer Of the or
of Louisiana shall Mt any interest navf
period be authorized 20 apply the sfnkf
fund to the retirement OF any outstsndi
bonds, to the extent Of said fund. in shs
CONTINUED on page u
JOS. B. CLEMENTS. L. s. CLlN II