The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1879-08-21

The Free School Fund, Seminary
Fund and Agricultural and
Mechanical College Fund.
Art 229 The debt due by the State to the
Tree school fund is hereby declared to be the
sum OF one million one hundred and thirty
thousand eight hundred and sixty-seven dol
lars and fifty cents in principal and shall be
| placed on the books of the Auditor and Treas.
nrer to the credit of several townships ell
| TITLED to the same; the said principal being the
proceeds of the sales of lands heretofore grant
| Ell by the United States for the use and sup
| port OF tree public schools, which amount shall
| DO held by the State as loan and shall be and
| remain perpetual fund which the State
shall pay an annual interest of per cent from
the first day of January, 1880, aud that said in
terest shall be paid to the several townships
IN the State entltledtO the same in accordance
with the act of Congress, No. 6S approved
February 10, 1913, and the bonds of the State
heretofore issued, belonging to said fund and
sold under act of the General Assembly No
81, of 1872, are hereby declared null and void
and the General Assembly shall make no pro
vision for their payment and may cause them
to be destroyed.
The debt due by the State 70 the seminary
| fund is hereby declared to be one hundred and
thirty-six thousand dollars being the pro
ceeds of the sales of lands heretofore granted
| seminary of learning, and said amount shall
be Placed to the credit said fund on the books
| oil the Auditor and Treasurer of the State as
perpetual loan, and the State shall pay an an
nual interest of four per cent on said amount
| from January l, 1880, for the use said seminary
of learning; and the consolidated bonde of the
State now held for use of said fund shall be
| null and void after the first day of January,
1880, and the General Assembly shall never
make any provision for their payment, and
ttAi S1,nII ha Lost
the General Assembly may direct.
The debt due by the State to the AgricuItu
raj and Mechanical College fund is hereby
declared to be the sum of one hundred and
eighty-twO thousand three hundI ed and thir-
| teen dollars and three cents, being the pro-
ceeds of sales of lands and land script hereto
| fore granted by the United States to this
State for the use of college for the benefit of
agriculture and the mechanic arts; said
amounts shall be placed to the credit of said
fund on the books Of the Auditor and Treasur
er of the State as perpetual loan, and the
State shall pay an annual interest of 5 per cent
on said amount from January |, 1880, for the
use of said Agricultural and Mechanical Col.
lese The consolidated bonds of the State now
held by the State for the use of said fund shall
be null and void after the first day of January,
$780, and the General Assembly shall never
make any provision for their payment. and
they shall be destroyed in such a manner as
the General Assembly may direct.
The interest provided for by this article
shall be paid out of any tax that may be levied
and collected for the general purpose OF public
education.
Corporations and Corporate Rights.
Art. $50. The General Assembly shall not
remit the forfeiture of the charter of anv cor
pOratiOn now existing, nor renew, alter or
anend the same, nor pass any general or spec
ial law for the benefit OF such corporation ex
cept upon the condition that such corporation
shall thereafter hold its charter subject to the
/ provisions ofthis constitution.
Art 23l. The exercise of the police POWER
of the State shall never be abridged nor sc
construed as to permit corporations to con
duet their business in such a manner as to in
fringe the equal rights of individuals the
general well-being Of the State.
Art. 232. No foreign corporation shall do any
= business in this State without having one OF
. more known places of business and an author
, | lied agent or agents i'll the State upon whom
: process may be served.
Art 233. No corporation shall engage il
d any business other than that expressly author
:. lied in its charter or incidental thereto, mol
shall it take or hold any real estate for longe
| period than ten years, except such as may b.
necessary and proper for its legitimate bust
q ness or purpose.
! Art. 234. No corporation shall issue stool
!. nor bonds, except for labor done or money o.
d property actually received and all fictiti0u
y issues Of stock shall be void, and any corpor
l. rtion issuing such fictitious stock shall fOrfei
e. its charter.
Art. 235. The stock shall not be increased
a except in pursuance of general laws, nor with
- out consent of persons holding the large
amount in value of the stock first obtained q
l. a meeting of stockholders to be held afte
Of thirty days notice given in pursuance of law
70 Art 236. The term corporation, as used i
. this constitution, shall be construed to includ
II all Joint stock companies associations havin
20 any power or privileges not possessed by ind
i. viduals or partnerships.
s. Art 237. 1t shall be a crime the nature an
o punishment of which shall be prescribe
Of by law. for any president, director
manager, cashier or other officer or owner
ii any private orpublic bank or banking institr
e. ton to assent to the reception of deposits q
Q the creation of debts by such banking inst
Or tuition after he shall have had knowledge
n the fact that it is insolvent or in falling circun
r stances; any, snch officer, agent or manage
n shall be individually responsible for such d
y, posits received and all such debts so create
r. with his assent.
Art. 238 The General Assembly shall ha,
b. powe. to enact general laws authorizing I'll
sh parochial or municipal authorities of the Stat
hit under certain circumstances by vote of ii
ry majority taxpayers i'll numbers and in valu
CHI | to levy special taxes in aid of public improv
To- ments or railway enterprises; provided, tn;
Oh such tax shall not exceed the rate of five mil
* per annuEl nor extend for longer period tia
ten years.
OIL Art. 239. Amy railroad corporation or
u- sociation organized for the purpose shall ha
Dis the right to construct and operate ralros
all between any points. within this State, and co
he meet at the State line with railroads of 9th
ne States. Every railroad company shall ha
or the right with IFS road to intersect come
he with or cross any other railroad, and shall
ceive and transport each the others passe