St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1912-09-28

md ON the 0mcial ballots to be used
i said election shall be placed the
Fords For the proposed amendment
o Article 157 Of the Constitution Of
he State Of Louisiana and the
words Against the proposed amend
nent to Article 157 Of the Consti-
ution of the State Of Louisiana
md each elector shall indicate, a.
in the general election laws
Il the State, which Of the PROPOSE
ions, "for" or against" he votes.
L. e. THOMAS.
sneaker of the House Of Repre-
sentatives.
THOMAS G. BARRET,
Governor and President
of the Senate.
z Approved July IL, 1919.
L. e. HALL,
Governor of the State of Louisiana.
A true copy.
ALVIN e. HEBERT.
\ Secretary Of State,
ACT NO. POS.
House Bill No. 433.
BY Mr.. Fontenot
"A JO1lN1 AE0OkAO kO4Ns
an amendment to the Con-
stitution Of the State of Louisi-
ana, amending Article 46 Of the
ana, amanding Article 46 of the
Constitution Of 1898. ~ amended
by Act No. 303 Of the Acts of 1910
& ratified by the people ut the No
vember election Of 1910, SO % t.
authorize the Board Of Liquids
ton of the State Debt to issue
new bonds to retire or refund tho
State Bonded Indebtedness due
January 1, 1914; to provide for
tax for the payment Of the in
terest ON said bonds and sinking
fund to retire the same; to pro-
!. vide for the payment out Of the
raid sinking fund OF an Indebted
ness due by the State to the United
States, and of certain other claims
against the state.
Section 1. Be it resolved by the
General Assembly of the State Of
two-thirds Of all the mem.
bers elected to each House concur
ing, That an amendment to Article
46 of the Constitution Of the State
Of Louisiana Of 1898. as amended BY
Act No. 3O3 of the Acts Of the Gen.
eral Assembly OF the State Of Lou
isiana ut It's session held In the yea'
1910, ratified by the people ct thu
election Of 1910, be sub
mitted to the qualified electors O
the State for their approval or re
lection at the Congressional election
to be held on the first Tuesday mex
following the first Monday In No
vember of 1912, said proposed
amendment to read as follows:
article As. The General Assem-
bly, shall have no power to contracf
or to authorize the contracting Of
any debt or liability, on behalf o.
the state, or to issue bonds or othe,
evidences Of Indebtedness thereof
except for the purpose Of repelline
invasion or for the suppression o.
Provided. that for the
purpose Of retiring, liquidating or re.
funding the present State Bondee
Indebtedness Of Eleven Million, One
Hundred and Eight thousand, Thres
Hundred Dollars, maturing Januar.
1. 1914, and bearing four per centun
per annum interest, the Board o
Liquidation Of the state Debt OF Lou
isiaua IL given authority to issue
Eleven Thousand One Hundred AM
Eight new coupon bonds of the STATE
Of Louisiana Of $1,000 each to b
numbered mo. 4 to No. 1l,1OS,
bearing rate of interest not exceed
ing per centum per annum. pay
able semi-annually. and to be dut
and paid in so years from Januar,
/. 1914. The form Of said bonds
shall be prescribed by the BOARD
Of Liquidation OF the State Deb
and they shall be signed by the
Governor. the Auditor and tn
Treasurer Of the State. Said bond
shall be sold to the highest bidde
It not less than par after three
months Of advertisement by tn
Board of Liquidation of the Stat
Debt in New Orleans, Chicago an
New York; and in case said bond
cannot be sold they may be exchang
ed 1t par by the Board of Liqufda
ton OF the state Debt fo1 the bond
due January /, 1914. The, excess Q
Three Hundred Dollars Of the bond
due January 1, 1914, over the bond
authorized by this article, shall b
paid In cash out Of the current tn
terest funds Of the State. The cos
Of engraving and advertising sal
bonds shall also be paid out Of tn
said fund.
''In Ill other respects not herei
specified, the Board Of Liquidation
the state Debt Ii hereby given ful
power and authority to carry out tn
provisions Of this amendment.
"Beginning with January /. 1914
there shall be and there is hereb
levied ON all property on which ger
eral state taxes are levied an anpus
tar OF one and two-tenths mills, tn
net proceeds Of which shall be devot
ed to the payment Of the interest du
on said bonds. to the payment OF tn
interest due on the Indebtedness {
the State to the Free School Funs
to Seminary Fund and the Agricu
tural and Mechanical College Fune
to the payment of the proper e,
penses of the Board of Liquidatfo
Of the State Debt, and the residue
the constitution Of sinking fun
to be applied annually except % herr
matter provided, to the purchase
said bonds by said Board at pris
not to exceed One Hundred an
Three and accrued interest.
bonds cannot be purchased as afor'
said, the sinking fund shall be Il
vested by the Board Of LiQuidatto
OF the State Debt In sound, intere
bearing securities, producing not LEI
than four per centum per annum II
terest on the amount 80 invested,
deposited in solvent banks furnishir
adequate security to the State. to
approved by the said Board. at