The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1910-10-13
arhia hond IN principal and interest

"rhis bond in principal and interest
II secured by the levy OF special tax
authorized by amendments to the Con-
stitution Of the Stat, STATE OF L Suna
fixed thereto the signature OF the Aud
itor in his official capacity and bear
the Impress of the seal OF his office.
The Auditor Of the State shall deliver
such bonds when thus certified to the
Worlds Panama Exposition Company.
which Company Is authorized to sell
the same for not less than par AZ
thereof shall be required to pay the
price directly to the Treasurer Of the
State of Louisiana, which funds when
shall only be paid out for the e. purpose
OF securing site and for the construc-
ton. equipment and maintenance Of
the exposition and shall be disbursed
ma Exposition Company. approved by
| the Governor. Treasurer and Auditor OF
the State of Louisiana or any two Of
them.
| age incident 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
Thousand ($6.50O.00O) Dollars 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 Louisiana as above provided.
IF the amendment to the Constitution
submitted by Act No. Two 90 OF the
Acts Of the regular session of the Gen.
eral Assembly Of Louisiana for the year
1910 be ratified by the people. then the
| entire amount of said tax collected af-
ter the issuing of bonds herein provid-
ed for. shall be used exclusively for the
purpose of paying the interest and prin-
cipal OF said bonds and for no other
purpose
When the tax thus authorized shall
| have lapsed by the terms Of said pro-
posed amendment. then each year
| thereafter as long as any Of the bonds
herein authorized to be issued are out
standing. there shall be assessed and
exclusively in the City OF New Or
leans upon all property subject to State
taxation. sufficient to pay the interest
upon said bonds and a fraction of the
principal or a fraction of the principal
collected for the creation Of q sinking
fund with which to eventually retire
said bonds; provided that no tax ex-
shall be assessed and collected during
any one year; and provided further.
that " said tax of one and one-half
1h) mills should be insufficient to pay
the interest and the principal Of said
bonds at the maturity thereof. then this
tax shall continue and be assessed and
collected until the entire amount due
on said bonds in principal and interest
From and after the time the tax
herein levied becomes operative, 1t
shall be the duty Of the Treasurer i'm
valuation Of the property in the City of
New Orleans, to fix the rate of taxa
ton to be imposed upon said property
for that year sufficient to pay the in
fraction of the principal due that year or
fraction of the principal to constitute
a sinking fund for the retiring of said
bonds Upon ascertaining said amount.
| M ~Io11 hA ovl ~
Assessors or such other authority
charged with like duty Of the City OF
New Orleans. or Parish OF Orleans. to
extend upon the assessment rolls such
sufficient to pay said interest am
fraction Of principal as aforesaid; pro-
vided that said tax shall not exceed one
one and one-half 1h) mills for any
collected without costs or commission
in the same manner as State taxes are
collected and shall be paid by the col
lectors directly to the Treasurer Of thu
State Of Louisiana. who is hereby au-
thorized to disburse the same to the
holders Of the bonds herein provided
for. In payment of the interest and
principal due on said bonds. upon the
presentation to him of the bonds or the
interest coupons as the case may be.
All funds arising hereunder which
go into the State Treasury whether
same have been realized from the SALE
Of said bonds or from the levy ant
collection OF any tax or taxes hereir
referred to shall by the Treasurer, b
deposited in the same depository. II
the same manner, at the same rate o.
interest and upon the same terms ant
conditions as are other State funds
and all interest accruing upon said
ticular fund from which the Interest
was derived. and shall be used for the
same purpose for which the principa
OF said sum is intended.
n{v1 ~
tax levied and collected and pledged
for the payment of said bonds shall
constitute valid and binding con
tract. and the faith Of the State Of
collection of said tax. authorized BY
said Constitutional amendments, unit
the final payment of all of said bond!
shall be exempt from all taxation
State, Parish. and Municipal, and thu
tutors of minors and curators Of in
terdicts are authorized to invest tn.
FUNDS in their hands in said bonds
! Any time after five years shall hav,
lapsed from the date of the issuance
OF the bonds herein authorized, the
shall. at any interest payment period
be authorized to apply the sinkins
, fund to the retirement of any out
, standing bonds. to the extent Of sale
and the Treasurer shall notify tn.
. bondholders thereof by any advertise
ment in one of the papers published Ii
} the CITY OF New Orleans and one pub
J least sixty days prior to the day OF
J which the bonds are to be retired, Civ
ing the number and denomination Of
! said bonds: and IL said bonds are no
presented for payment at such time
then the Interest shall cease thereon.
The dissolution and liquidation Of
the Worlds Panama Exposition Com
pany shall not in any manner affec
the validity of the bonds herein au.
thorized to be issued by said corpora
ton or the collection OF the tax levied
by this Constitutional amendment OF
by that proposed by Act No. of 1911
: as aforesaid.
This amendment to the Constitution
snail prevail over all other provision.
Or the Constitution ra9, Of the State Q
amendment to the Constitution TO b,
voted on at the coming election to bs
n 1.Ii o., on Tuesday next following tn.
may directly or Indirectly conflict here.
, with. and shall be deemed supplement
az to the amendment proposed by Ac
NO Two 90 Of the Acts of the regular
; session OF the General Assembly OF tn,
State Of Louisiana for the year 1910
and in case of conflict Herewith tn.
.. provisions Of this amendment shall pre-
I vail and this amendment shall be II
force and effect only in the event tn,
said proposed amendment submitted
; for ratification by Act No Two (2) d
the Acts Of the regular session of tn.
General Assembly Of 1910 is ratified b,
the people at the Congressional election
to be held on Tuesday next followips
the first Monday in November. 1910
and is declared to be self-executins
and to confer directly the authorit,
herein granted without an enabling
act Of the Legislature
Sec 2. Be it further resolved, etc
That the official ballot to be used ::
the said election shall have printe.
, thereon the words:
For the proposed amendment Z,