St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-10-29

am0QUm6uI
m1tted by Act No. Two (2) of the Acts %
the regular session of the General Assembly
OF Louisiana for the year 1910 be ratinea
by the pople, then the entire amount OF sai0
tax collected after the issuing Of bonds herein
provided for, shall be used exclusively ior tng
purpose of paying the interest and princlpal
When the tax thus authorized shall have
been lapsed by the terms of said proposed
amendment, then each year thereafter as long
as any of the bonds herein authorized to bs
issued are outstanding there shall be assessed
and collected tax, which is hereby levied,
exclusively in the City OF New Orleans upon
cient to pay the interest upon said bonds
and traction Of che principal OF traction t;o,,
of the principal collected for the creat af,a
retire said bonds; provided that no tax e1,
ceeding one and ons.hah t1h) mills snan
and proTded further that Il said
of one and one.half {1h) mills should %
insufficient to pay, the interest and the p slnf-
t tpa this hi tax shall continue and Be-
and collected until the entire amount due
on said bonds in principal and interest," u
From and after the time the tax herein
levied becomes operative, 1t shall be the daty
of the Treasurer Immediately after me ann .ha
City Of New, Orleans to tx the rate 9. ta1 sor
hat , s1nd.a ssps aa ss e. fraction ct tie
principal due that year or the fraction Of
the principal to constitute a sinking iuna
tanning said amount, he shall direct the %.
SCISSOR or Board of Assessors or such otnef
authority charged with like duty OF City
extend upon the assessment rolls such rats
of taxation az will yield an amount suMcisns
TO pay said interest and fraction OF pTan
shall not exceed one and one-half t11s) mile
for any one year. This tax snail pc assesses
and collected, without costs or commlssi ao1,
tai
fected and shall be paid by the coIiectoas
directly to the Treasurer Of the State o.
Louisiana who is hereby a1 IF tsa z Bonds
herein provided for, in payment OF the IN.
terest and principal due on said bonds, uPsn
the to the a. may be-
All funds arising hereunder which go into
the State Treasury whether same nave Deen
the levy and collection Of any, tax or taxes
herein referred to shall by the treasurer.
be deposited in the same depository n .ns
same manner at the same rate OF interest,"
and upon the same terms and conditions az
are other State funds and all interest ae &C.
eruing upon said deposits shall pc c ah ~.
serest was derived, and snail pc useaa ios
the same purpose for which the principal %
The bonds herein authorized and the tag
levied and collected and pledged for the
payment of said bonds shall constitute 3
tinuous collection Of said tax, authorized by
said Constitutional amendmehnts uh r. r sns
cipal and interest Said bonds shall be
exempt from all taxation. State Parish. ard
and the tutors o. % invest
the funds in their hands in said bonds
Any time after Ave years shall haye lapssd
from the Of the q
of Louisiana shall at any interest paying
period be, authorized to apply the sinking
bond bonds, to the sxtent Of said fund. il theis
reverse numerical order and the Treasurer
shall notify the bondholders thereof by az
in the City of New Orleans and one pub.
lshed in the City Of New York, at least
sixty days prior to the day on -, which the
and denomination of said bonds; and II SAID
bonds are not presented for payment at such
The dissolution and liquidation Of the
Worlds Panama Exposition Company shall
not in any manner affect the validity, Of the
bonds herein authorized to be issued BY said
corporation or the collection OF the tax levied
by this Constitutional amendment or by thas
proposed by Act No. Two Of 1910 as afore.
said.
This amendment to the Constitution shall
prevail over all other provisions OF the Con.
stitution of the State of LouisiaEs, as well
tion to be voted on at the coming election
to be held ON Tuesday next following the
first Monday II aaysm beat, aslo which na
shall be deemed supplemental to the amend
ment proposed by Act No. Two ~ of the
Acts of the regular session OF the General
Assembly of the State Of Louisiana for tho
year 1910. and in case Of conflict Herewith
the provisions Of this amendment shall pre-
vail and this amendment shall be in force
and effect only in the event the said proposed
amendment submitted for ratification BY Act
No. Two (2) Of the Acts Of the regular seq
sion of the General Assembly of 1910 10
ratified by the people at the congressional
election to be held on Tuesday next follow.
is declared to be self-executing and TO confer
directly the authority herein granted withouA
an enabling act of the Legislature.
Section O.. Be it further resolved, ETC..
said election shall have printed thereon the
words:
''For the proposed amendment to the Con.
stitution of the State Of Louisiana, author.
Panama Exposition Company and the levyiaa
of g further tax in the City Of New Orleans
all in further aid of the exposition csle-
brating the opening of theN Panama Canal, 81,
ment to the Constitution OF the Stats q
Louisiana, authorizing an issue OF bonds by
the Worlds Panama Exposition Company and
the ieyying of q further tax in the City Of
sition celebrating the opening Of the PankIns
Canal and ,eaca elector shall indicate, 4,
provided in the general election laws OF the
State whether he votes for or against ths
P. M. LAMBREMoNr.
Lieutenant Governor and President Oh N
Senate.
s,.,.e, >. =. =; g: DggRE
Approved: August 10, 1910.
J. Y. SANDERS
Governor Of the Stats q IsuassaaA
= j ;eaf foRR r. MICHEL,
Srcretary of State t}s 81 ssS S