St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1912-10-05
tors Of tho STATE At the next election

he first Monday in November, 1912,
md on the ohlcial ballots to be used
It said election shall be placed the
words For the proposed amendment
% Article 1877 of the Constitution Of
he State Of Louisiana" and the
words Against the proposed amend
nent to Article 157 Of the Consti-
luton of the State of Louisiana
md each elector shall indicate, as
provided in the general election laws
II the State, which Of the PROPOSE
ions, "for" or against he votes.
L. E. THOMAS,
Speaker of the House of Repre-
sentatives.
THOMAS C. BARRET.
Governor and President
OF the Senate.
Approved July IL, 1912.
L. E. HALL.
Governor of the State of Louisiana.
A true copy. ....
ALVIN E. HEBERT,
Secretary Of State.
ACT NO. 2O3.
House Bill No. 433. -
BY Mr.. Fontenot.
A JOINT RESOLUTION.
Proposing an amendment to the Con-
stitution of the State of LOUISE
ana, amending Article 46 of the
ana, Amending Article 46 of the
Constitution of 1898, as amended
by Act No. 3O3 of the Acts OF 1910,
ratified by the people at the No
vember election of 1870, so as to
authorize the Board of Liquida-
ton of the State Debt to issue
new bonds to retire or refund the
State Bonded Indebtedness due
January /, 1914; to provide for
a tax for the payment of the in
terest on said bonds and a sinking
fund to retire the same; to pro-
vide for the payment out of the
said sinking fund of an indebted
ness due by the State to the United
States, and Of certain other claims
against the State.
Section /. Be 1t resolved by the
General Assembly of the State OF
two-thirds of all the MEM
bers elected to each House concurr-
ing, That an amendment to Article
IS Of the Constitution of the State
of Louisiana of 1898, as amended by
Act No. 800 of the Acts OF the Gen.
eral Assembly of the State OF Lou
isiana at its session held in the year
1910, ratified by the people at the
November election of 1910, be sub
mitted to the qualified electors OF
the State for their approval or re-
lection at the Congressional election
to be held on the first Tuesday next
following the first Monday in No
vember of 1912, said proposed
amendment to read as follows:
article IS. The General Assem-
bly, shall have NO power to contract
or to authorize the contracting OF
any debt or liability, on behalf OF
the State, or to issue bonds or other
evidences OF Indebtedness thereon
except for the purpose of repelline
invasion or for the suppression OF
Provided, that for the
purpose Of retiring, liQuidating or re-
funding the present State Bonded
indebtedness of Eleven Million, One
Hundred and Eight Thousand, Three
Hundred Dollars, maturing January
1, 1914, and bearing four per centum
per annum interest, the Board OF
Liquidation of the State Debt of Lou
isiana is given authority to issue
Eleven Thousand One Hundred and
Eight new coupon bonds of the State
of Louisiana of $1,000 each to be
numbered No. l. to No. 11,10S.
bearing rate of interest not exceed
ing. 4 per centum per annum, pay
able semi-annually, and to be due
and paid in so years from Jan'uar,
/. 1914. The form Of said bond.
shall be prescribed by the Board
Of Liquidation of the State Deb
and they shall be signed by the
Governor. the Auditor and the
Treasurer Of the State. Ssid bonds
shall be sold to the highest bidder
ut not less than par after three
months of advertisement by thu
Board of Liquidation of the STATE
Debt in New Orleans, Chicago ant
New York; and in case said bonds
cannot be sold they may be exchang
ed at par by the Board of Liquida
ton of the State Debt for the bonds
due January /, 1914. The excess o
Three Hundred Dollars of the bonds
due January /, 1914, over the bonds
authorized by this article, shall b
paid in cash out of the current in
terest funds of the State. The cos
OF engraving and advertising sait
bonds shall also be paid out of tn
said fund.
ain all other respects not hereil
specified, the Board of Liquidation Q
the State Debt is hereby given full
power and authority to carry out tn
provisions of this amendment.
"Beginning with January 1, 1914
there shall be and there is hereb
levied on all property on which gen
eral State taxes are levied an annua
tax of one and twoatenths mills, tn
net proce 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 o
the State to the Free School Fund
to Seminary Fund and the Agricul
tural and Mechanical College Fund
to the payment of the proper eS
penses of the Board of Liquidation
OF the State Debt, and the residue t
the constitution Of q sinking fun
to be applied annually except as here
matter provided, to the purchase @
said bonds by said Board at pric
not to exceed One Hundred an
Three and accrued interest.
bonds cannot be purchased as afore
said, the sinking fund shall be in
vested by the Board Of Liquidatio
of the State Debt in sound, interes
bearing securities, producing not les
than four per centum per annum II
terest on the amount SO invested, c
deposited in solvent banks furnishin
adequate security to the State, to b
annrnvod hY the said BOARD at