Tensas gazette., 1910-11-11

II the amendment to the Consultation NJ
nitted by Act No. Two a. of the Acts Il
the regular session Of the General Assembly
By the pople, then the entire amount Of ssiS
tax collected after the issuing of bonds hsreis
provided for, shall be used exclusively for ths
ii said bonds and for no other purpos:' s''A'
When the tax thus authorized shall have
been lapsed by the terms Of said proposs{
- any of the bonds herein authorized TO -
issued are outstanding there shall be assessed
and collected tax, which is hereby Levied
exclusively in the City Of New Orleans upc
all property subject to State taxation, SUI.
cient to pay the interest upon said bone
and fraction Of the principal or q fractis
Of the principal collected Tor the crsatin
retire said bonds provided that no tax u.
ceeding one and -one-hslf (1k) mills shll
De assessed and collected during any me
year; and provided furthsr. that Il said az
insufficient to pay the interest and the rfin-
cipal of said bonds at the maturity ths,eef
then this tax shall continue and be assessed
and collected until the entire amount dus
paid.
From and after the time the tax k.rs,.
Of the Treasurer Immediately after the sanusi
listing and valuation of the property 10 ~
City OF New Orleans, to fix the rate Of taxa.
ths, t,on to be imposed upon said property for
on said bonded debt and the fraction Of tis
principal due that year the fraction al
the principal to constitute . sinking fusd
for the retiring of said bonds. Upon ssesr.
tanning said amount, he shall direct the =.
SCISSOR or Board of Assessors or such oths,
authority charged with like duty Of CITY
OF New Orleans. or Parish Of Orleans. e
extend upon the assessment rolls such rsts
OF taxation as will yield an amount su!icienN
to pay said interest and fraction Of prip.
cipal as aforesaid; provided that said tax
q q mt AAd aud k.ll
for any one year. This tax shall be asssasel
and collected, without costs or commission
in the same manner as State taxes are col.
lected and shall be paid by the collector
directly to the Treasurer Of the Ststs a
Louisiana, who is hereby authorized to dis
burse the same to the holders Of the bonds
herein provided for, in payment of the in
terest and principal due ON said bonds, upon
the presentation to him of the bonds or ths
interest coupons as the case may be.
All funds arising hereunder which 90 into
the State Treasury whether same, have beep
realized from the sale Of said bonds or from
the levy and collection of any tax or taxs.
herein referred 10 shall by the Treasurer
be deposited in the same depository. in the
same manner, at the same rate Of interesf
and upon the same terms and conditions a
are other State funds and all interest sc-
cruing upon said deposits shall be credited
to the particular fund from which the in
terest was derived, and shall be used for
the same purpose for which the principal a
said sum is intended.
Inc DOnUS neTeln authorized ana the tan
levied and collected and pledged for ~
payment of said bonds shall constitute :
valid and binding contract. and the faith Of
the State Of Louisiana is pledged to the con
said Constitutional amendments, until tie
final payment of all of said bonds in prin-
cipal and interest. Said bends shall BE-
exempt from all taxation, Sta.s. Parish. an6
tors of interdicts are authorized to inveel
the funds in their hands in said bonds.
Any time after Ave years saall have lapssl
herein authorized. the Treasurer Of the Stats
Of Louisiana shall at any interest paving
period be authorized to apply the sinking
bonds @ 70 to tn tn. EXTENT Of said fupd d1Sa II sSsis
reverse numerical order, and the Treasurer
shall notify the bondholders thereof By a
advertisement in one Of the papers publlshez
In the City of New Orleais and one puk
lished in the City of New York. at fsass
sixty days prior to the day which IL
bonds are to be retired, giving the number
and denomination of said bonds; and II ssi6
bonds are not presented for payment at such
time, then the interest shall cease thereon
The dissolution and liquidation Of Tie
not in any manner affect .he validity Of the
bonds herein authorized to be issued BY sai1
corporation or the collection OF the tax levied
by this Constitutional amendment or By that
p.SP0ssd .psid. BY Act No. Two OF 1910 as ''''s
This amendment to the Constitution shan
prevail over all other provisions Of the Con
stitution of the State of Louisiana, % vel
as any proposed amendment to the Constitu-
tion to be voted on at the coming election
to be held on Tuesday next following TIE
first Monday in November. 1910. which msy
shall be deemed supplemental to the ansm6-
ment proposed by Act No. Two ~ o,
Acts of the regular session of the General
Assembly Of the State Of Louisiana for ~
the provisions Of this amendment shall pre
vail and this amendment shall be IA ,lorcs
and effect only in the event the said pr,poss1
amendment submitted for ratification by A1
sion o: the General Assembly of 1910 4
ratified by the people at ths congressionaI
election to be held on Tuesday next follev.
is declared to be self.executire and to eesisr
directly the authority herein granted without
an enabling act of the Legislature.
Section q: Be it further resolved, etc.
said election shall have printed thereof ~
words:
For the proposed amendment to the Ooa-
stitution OF the State Of Louisi.na. snthee-
Panama Exposition Company and the lsvyt,s
OF . further tax in the City Of New OrlssnS
sll in further aid Of the exposition cels
and the words. Against the proposed smasd.
ment to the Constitution Of the Ststs u
Louisiana, authorizing an issue Of bonds b
the Worlds Panama Exposition Company ed
the levying of a further tax in the City 81
New Orleans, all in further aid Of the cps
sition celebrating the opening Of the Panama
Canal and eaca elector shall indi:sfe -
State whether he votes for or against he
p. NJ. LAMBREMoxr.
Lieutenant Governor and President Of ~
Senate.
H. @. DUPRE.
Speaker Of the House of Representative.