St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-10-01
ACT No. q
Bill No. !. = :
JOINT RESOLUTION.

JOINT RESOLUTION.
Proposing an amendment to the Consultation
of the State of Louisiana authorizing the
Worlds Panama Exposition Company to
proposed By joint resolution tic embodied j in
A n bly, e 1919 M. as well as
be levied and collected only after the tax
levied under the above resolution has
Section. j. Be it resolved by the General
Assembly Of the State Of Louislans In extra.
ordinary session convened, two-thirds Of sill
the members elected to each house concurring
tuition Of the State Of Louisiana be submitted
to the qualified electors Of the State for their
approval or rejection, IS required by Article
lana. at the congressional election to be held
day Of November. 1910, as follows:,
levied by the Constitutional amsndmsnt pro.
posed by Act No. Two (2l Of the Acts Of
the regular session Of the General Assembly
may, when ratified by the qualified electors
of the State be made Immediately available
for the purpose of constructing an exposi-
Panama Canal, the Worlds Panama Ex-
position Company be and It Is hsrelS auth:
orized, when and mot until the Congress- Of
Of New Orleans as the location for an ex.
position commemorating the opening Of the
Panama Canal, to issue bonds not to exceed
sand (s6. 500 oool Dollars, to bear rate Of
interest not exceeding four per centum "a per
cent? per per, a m. to DO paid semi annually.
due and payable in net longer than fifty
500 years. payable at the Treasury of the
State of Louisiana; and in order to secure
by the joint resolution embodied in Act No.
Two (2) Of the Acts OF the regular session
Of the General Assembly Of Louisiana for
1911 k>w
matter levied exclusively in the City Of New
Orleans be and the same are hereby pledged
for the payment Of said bonds in principal
shall be deemed valid and binding pledge
and contract.
The bonds herein authorized to be issued
shall be registered with the Auditor of the
State of Louisiana, and there shall be written
or printed the following across the face Of
"This bond in principal and interest 10
secured by the levy OF special tax auth.
orized by amendments to the Constitution Of
which shall have affixed thereto the signature
Of the Auditor in his official capacity and
bear the impress Of the seal Of his office
bonds WHEN thug certified to Tho Worlds
Panama Exposition Company, which company
is authorized to sell the Same for not less
chaser thereof shall Be- required to pay the
price directly to the Treasurer Of tho 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
tenanes Of the exposition and shsli b dig
Panama 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 to
said company, and no part Of the Six Million
Five Hundred thousand (s6.5oo 000) Dollars
shall be used fns such purpose. but the full
face of such bonds must be received and
paid into the Treasury Of the State At Louis
lana as above proyixsd.