The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1910-10-06

"rhis bond in principal and interest
II secured by the levy Of special tax
authorized by amen d,as 70 the d,. Con,
adopted in 1910" which shall have at
fixed thereto the signature of the Aud
itor in his official capacity and bear
The Auditor OF the state shall deliver
such bonds when thus certified to the
Worlds Panama Exposition Company.
which Company is authorized to sell
above provided. and the purchaser
thereof shall be required to pay the
price directly to the Treasurer OF the
shall only be paid out for the purpose
paid into the Treasury of the State
OF securing site and for the construc--
ton. equipment and maintenance of
the exposition and shall be disbursed
upon the warrant of the Worlds Pana-
ma Exposition Company, approved by
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 ANY out nns OF other rn funds
part Of the Six Million Five Hundred
Thousand (s6.5O0.o00) 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 % OF the
| Acts of the regular session of the Cen
| eral Assembly of Louisiana for the year
| 1910 be ratified by the people: then the
| entire amount of said tax collected at
| 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.
I o,,th ho
| 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
collected tax, which is hereby levied
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 Il fraction Of the principal
| collected for the creation Of sinking
| fund with which to eventually retire
said bonds; provided that no tax ex-
ceeding one and one-half Gh) mills
| shall be assessed and collected during
| any one year; and provided further.
that If said tax of one and one-half
{1k) 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
is paid
From and after the time the tax
herein levied becomes operative, it
shall be the duty of the Treasurer i'm
mediate1y 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
terest on said bonded debt. and the
fraction of the principal due that year or
fraction of the principal to constitute
a sinking fund for the retiring OF said
| bonds TTnOO a ccprfaininU said
he shall direct the assessor or Board of
Assessors or such other authority
charged with like duty of the City of
New Orleans. or Parish Of Orleans. t.
extend upon the assessment rolls such
rate of taxation as will Weld an amount
sufficient to pay said interest an@
fraction Of principal as aforesaid; pro
vided that said tax shall not exceed oae
one and one-half 1b) mills for any
Gne year. This tax shall be assessed anS
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 the
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.
du ms arising which
same have been realized from the sale
of said bonds or from the levy and
collection of any tax or taxes herein
deposited in the same depository. il
the same manner. at the same rate Of
interest and upon the same terms anG
conditions as are other State funds
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 principa
OF said sum is intended.
The bonds herein authorized and the
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
Louisiana is pledged to the continuous
collection of said tax authorized By
said Constitutional amendments. until
the final payment of all of said bond,
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.
FUNDS in their hands in said bonds
Any time after five years shall have
"a laps Cd from rom the date Of the issuance
Treasurer OF the State Of Louisiana
shall. at any interest payment period
pc authorized to apply the sinking
fund to the retirement of any out.
fund. in their reverse numerical order
ana the Treasurer shall notify thu
bondholders thereof by any advertise
ment IN one OF the papers published in
iished In the City of New York, al
least sixty. days prior to the day OF
which the bonds are to be retired. Civ.
ing the number and denomination Of
said bonds; and il said bonds are moi
presented for payment at such time
then the interest shall cease thereon.
The dissolution and liquidation Of
the Worlds Panama Exposition Com
| PAW snail not in of
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. 2 of 1911
. as aforesaid.
This amendment to the Constitutio,
shall prevail oyer all other provision.
Louisiana, as well as any proposed
amendment to the Constitution to b,
xo, vote on at the coming election to b
: first Monday in November. 1910. which
; may directly or indirectly conflict here.
with. and shall be deemed supplement
, al to the amendment proposed by Ac
!; session of the General Assembly Of thu
State of Louisiana for the year 1910
and In case of conflict herewith tn.
. provisions Of this amendment shall pre-
. vail ana this amendment shall be ii
force and effect only in the event tn,
said proposed amendment submitted
: for ratification by Act No Two (2) Of
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 followins
the first Monday in November 1910
and is declared to be self-executins
and to confer directly the authorit,
herein granted without an enablini
; act Of the Legislature
Sec 2. Be 1t further resolved. etc
That the official ballot to be used n
the said election shall have nrinfcf