The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1910-09-08
lana, and there shall be written or
printed the following across the face Of

stitution Of the State OF Louisiana
adopted in 1870 which shall have at
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
which Company is authorized to sell
the same for not less than par as
above provided. and the purchaser
thereof shall be REQUIRED to pay the
State of Louisiana, which funds when
shall only be paid out for the purpose
paid into the Treasury OF the State
Of securing site and for the "Hnstrnc.
the exposition and shall be disburs-d
upon the warrant of the Worlds pana-
ma Exposition Company. approved bv
the Governor. Treasurer and Auditor OF
the State of Louisiana or any two OF
them.
All expenses. commission or broker
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
part Of the Six Million Five Hundred
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
submitted by Act No. Two co 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 az
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 he issued are out
standing there shall be assessed and
collected n tax. which is hereby levied
exclusively In the City Of New Or
taxation. sufficient to pay the interest
upon said bonds and a fraction of the
principal or a fraction of the principal
fund with which to eventually retire
said bonds; provided that no tax ex-
ceeding one and one-half Gk) mills
shall be assessed and collected during
that IT said tax of one and one-half
11a) mills should be insufficient to pay
the interest and the principal of said
bonds at the maturity thereof. then this
collected until the entire amount due
on said bonds in principal and interest
Is paid
From and after the time the tax
shall be the duty of the Treasurer i'm
mediately after the annual listing and
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
terest on said bonded debt. and the
fraction Of the principal due that year or
fraction Of the principal to constitute
sinking fund for the retiring Of said
bonds. Upon ascertaining said amount.
he shall direct the assessor or Board OF
Assessors ssea , or such other authority
New Orleans. or Parish of Orleans. to
extend upon the assessment rolls such
rate of taxation as will Weld an amount
sufficient to pay said interest and
fraction Of principal as aforesaid: pro-
vided that said tax shall not exceed on"
one and one-half 1h) mills for an-
one year This tax shall be assessed and
! cole cted 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 the
State OF Louisiana, who Is hereby au-
thorfzed 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.
go into the. State Treasury whether
same have been realized from the sale
OF said bonds or from the levy and
collection OF any tax or taxes herein
referred to shall by the Treasurer. be
deposited in the same depository. in
the same manner. at the same rate Of
interest and upon the same terms and
and all interest accruing upon said
deposits shall be credited to the par
ticular fund from which the interest
was derived. and shall be used for the
same purpose for which the principal
Of said sum is intended.
me bonds herein authorized and the
tax levied and collected and pledged
constitute a valid and binding con-
tract and the faith of the State of
Louisiana Is pledged to the continuous
collection OF said tax. authorized by
the fina! payment of all of said bonds
in principal and interest Said bonds
shall be exempt from all taxation,
state. Parish: and Municipal. and the
tutors of minors and curators of in
terdicts are authorized to invest the
funds in their hands in said bonds
Any time after five years shall have
Of the bonds herein authorized, the
Treasurer of the State of Louisiana
snail. at any interest payment period,
Pc DC authorized to apply the sinking
standing bonds. to the extent of said
fund. in their reverse numerical order
and the Treasurer shall notify the
bondholders thereof by any ADVERTISE
the City. Of New Orleans and one pub
lfshed in the City Of New York, at
least sixty days prior to the day on
ivn ~ the bonds are to be retired. Civ.
said bonds: and II said bonds are not
presented for payment at such time,
then the interest shall cease thereon.
The dissolution and liuuidatiOn Of
the Worlds Panama Exposition Com
pany shall not in any manner affect
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 or
as aforesaid.
This amendment to the Constitution,
shall prevail over all other provisions
OF the Constitution of the State OF
Louisiana. as well as any proposed
amendment to the Constitution TO be
x vote on at the coming election to be
first Monday in November 1910, which
may directly or indirectly conflict here
with. and shall be deemed supplement-
al to the amendment proposed by Act
No. Two 90 of the Acts of the regular
session Of the General Assembly Of the
state OF Louisiana for the year 1910
and IN case of conflict Herewith the
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 session of the
General Assembly Of 1910. is ratified by
the people at the Congressional election
TO be held on Tuesday next following
the first Monday in November 1910
and is declared to be self-execntine
and to confer directly the authority
herein granted without an enabling
act Of the Legislature
Sec. 2. BE 1t further resolved etc
That the official ballot to be used n
the said election shall have printed
thereon the words.
, For the proposed amendment t.
the Constitution OF the State Of Jonis.
lana. authorizing an issue Of bonds by
. the. Worlds Panama Exposition Com.
PAW and the lowing OF Il further tay
in tho Cffv nf II all t., e,,r