St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1912-11-02

49, ASOVA VO0ut0IAVc6 Ill COUkTGSS 10
y holden on the first Tuesday after
the arst Monday in November, 1912,
io1A On the ohlcial ballots to be used
'at said election shall be placed the
words For the proposed amendment
- Article 157 of the Constitution Of
the state of Louisiana" and the
words Against the proposed amend
ment to Article 157 of the Consti-
tuition of the State of Louisiana
and each elector shall indicate, as
provided in the general election laws
Of the State, which of the PROPOSE
lions. "for" or against" he votes.
L. E. THOMAS,
Speaker of the House of Repre-
sentatives.
THOMAS G. BARRETT.
lieutenant 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. ABB.
BY Mr.. .FOntenOt.
A JOINT RESOLUTION.
Proposing an amendment to the Con-
stitution of the State of Louisi-
ana, amending Article 46 of the
ana. amanding Article As of the
Constitution Of 1898, as amended
By Act No. 800 Of the Acts of 1910.
ratified by the people at the No
vomber election of 1910, SO as to
authorize the Board of Liquida-
tion OF the State Debt to issue
new bonds to retire or refund the
state Bonded Indebtedness due
January 1, 1914; to provide for
tax for the payment of the in
terest on said bonds and q sinking
fund to retire the same; to pro-
vide for the payment out OF the
aid sinking fund of an indebted-
aess due by the State to the United
States. and of certain other claims
against the State.
Section /. Be it resolved by the
General Assembly OF the State OF
Louisiana, two-thirds Of all the men,
bern elected to each House conc"rr-
M. That m amendment to Article
e Of the Constitution of the State
az Louisiana of 1898, as amended by
Act No. sos Of the Acts of the Gem
eral Assembly of the State OF Lou
asianA Ut its session held In the year
1919, ratified by the people at the
November election of. 1910. be sub.
nitted to the qualified electors O.
the State for their approval or re-
lection ct the Congressional election
10 be held on the first Tuesday next
following the first Monday In NO
yember o. 1912. said proposed
amendment to read as follows:
ARTICLE 46. The General Assem-
bly, shall have no power to contract
OF to authorize the contracting OF
aay debt or liability, on behalf OF
the state, or to issue bonds or other
evidences Of indebtedness thereof.
except for the purpose of repelling
invasion or for the suppression OF
inaurrection. Provided, that for the
purpose OF retiring, liqufdating 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 O
Liquidation of the State Debt OF Lou
isteaa Is given authority to issue
Eleven Thousand One Hundred anG
Eight new coupon bonds of the State
az Louisiana of $1,000 each to be
numbered NO. l. to No. 11.1Os.
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 January
1. 1914. The form of said bonds
shall be prescribed by the Board
~ Iiouidation Of the State Debt
ana they shall be signed by the
Governor. the Auditor and the
Treasurer of the State. Said bonds
shall be sold to the highest bidder
at not less than par after three
months OF advertisement by the
Board OF Liquidation of the STATE
Debt in New Orleans, Chicago am
New York; and in case said BOMBS
cannot be sold they may be exchang
"a It par by the Board of Liquida-
fion' Of the State Debt for the bonds
dine January 1, 1914. The excess O.
Three Hundred Dollars OF the oonds
due January l, 1914, over the BONDS
authorised by this article, shall be
paid in cash out of the current in.
terest funds of the State. The cost
Of engraving and advertising sale
bonds. shall also be paid out OF the
said fund.
"In all other respects not beTeir
specifed. the Board of Liquidation o
the state Debt is hereby given fui
mower and authority to carry cut the
provisions of this amendment.
"BeGinning with January l.. 19l4
there shall be and there is hereb,
levied on all property on which gen
eral State taxes are levied an annua
tar Of one and two-tenths mills. thu
net prccecds of which shall be devOt
ed to the payment of the interest du'
an said bonds, to the payment of thu
interest due on the Indebtedness o
the state to the Free School Fund
70 Seminary Fund and the Agricul
fnral and Mechanical College Fund
"a the payment of the proper ex
nenses Of the Board of Liquidation
Of the State Debt, and the residue t
4he constitution of a sinking 1unt
. be applied annually except as here
matter provided, to the purchase o
said bonds by said Board at a pric'
nal 10 exceed One Hundred AM
Three and accrued interest.
bonds cannot be purchased as afore
aid. the sinking fund shall be in
vested by the Board of Liquidation
~ the State Debt in sound, interes
bearing securities, producing not les
(, than four per centum per annum in
terest on the amount so invested. O
Aenosited in solvent banks furnishin