Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1910-09-09
ACT No, 4
Senate Bill No.

SENATE Dill NO.
JOINT RESOLUTION.
Proposing an amendment to the Constellation
of the State of Louisiana, authorizing the
Worlds Panama Exposition Company to
issue bonds and pledge the tax which 10
Act No. Two (2) of the Acts of the
General Assembly of 1910, as well as Q
further tax in the City of New Orleans. to
levied under the above resolution has
lapsed.
Section. /. Be it resolved by the General
ordinary session convened, two-thirds Of all
the members elected to each house concurring
therein. that an amendment to the Oonsti;
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 10 be held
on the Tuesday next following the first Mon
day OF November. 1910 as follows:
In order. that the tax authorized to be
posed BY Act No. Two, az Of the Acts Of
the regular session Of the General Assembly
of the State of Louisiana for the year 1910.
Il. when s,.s ratified III ,5 By tine sSd
for the purpose of constructing an exposi-
ton to commemorate the opening of the
ssn Company The . h:1sSg auth hs
orized. when and not until the Congress- Of
the United States shall designate the City
Of New Orleans as the location for an e.
Panama Canal to issue bonds not to- exceed
in principal six Million Five Hundred Thou.
sand ts6.5oo.oool Dollars. to bear q rate Of
interest not exceeding four per centum a per
to be sold for not less than par and to be
due and payable In not longer than fifty
(50) years, payable at the Treasury OF the
State Of Louisiana; and In order to secure
the payment of said bonds, the tax proposed
by the joint resolution embodied in Act No.
Two (2) Of the Acts of the regular session
Of the General Assembly Of Louisiana for
the year 1910, as well as further tax here
matter levied exclusively in the City of New
Orleans. be and the same are hereby pledged
for the payment Of said bonds in principal
and interest the said pledge Of said tax
shall be deemed . valid and binding pledge
The bonds herein authorized to be issued
By the Worlds Panama Exposition Company
shall be registered with the Auditor Of the
or printed the following across the face Of
This bond in principal and interest 70
orised by amendments to the Constellation Of
the State of Louisiana adopted in 1910"
which shall have affixed thereto the signature
Of tn. Auditor in ii; y, ohioi:l capacity i and
The The Auditor Of the State shall deliver such
bonds when thus certified to the Worlds
10 ,s r.. .hs ss
than par as above provided, and the pur.
chaser thereof shall Be required to pay. the
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.
tensncs Of the exposition and shall be dis
Panams Exposition Company, approved BY
| the Governor. Treasurer and Auditor Of the
| State Of Louisiana, or any two Of them.
eident to the sale of said bonds shall Be
| paid by the Worlds Panama Exposition
| Company out Of other funds belonging "a
| said 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 Of the State Of Louis
| lana - above provided