The Lafayette advertiser. [volume] (Vermilionville [i.e. Lafayette], La.) 1865-19??, 1906-11-05

case may be, o shall such bonds run
for "a longer period than forty years
from their date, d. bear a greater rate
of interest than five per cent per an
mum. or be sold by the municipal cor
pOration, parish, school district,
drainage or sewerage district issuing
same for less than par.
The municipal corporation. parish,
school district, drainage or sewerage
district issuing such bonds shall pro-
vide for the payment of the interest
annually, or semi-annually, and the
principal thereof at maturity, prOvid-
ed that the total issue of bonds by any
municipality, parish, school or sewer
age district for all purposes shall new
er exceed ten per cent of the assessed
value of the property in such munich
pality, parish schools OF sewerage
districts: provided that municipal
councils shall have authority to Gre
ate within their respective limits one
or o sewerage districts: provided
that nothing herein contained shall
prevent drainage districts from being
established under the provisions of
existing laws, and that all drainage
districts established under the laws of
this State shall, in addition to the
powers hereinabOve granted, have the
further power and authority to levy
and assess annual contributions or
acreage taxes, for the purpose of pro-
vldlng and maintaining drainage sys-
TENS. on all lands situated in such dis
trictS ACKNOWLEDGEMENTS
per acre for a period not to exceed (4O)
forty years when authorized to do so
Dy a vote of a majority in number and
amount of the property taxpayers of
said districts qualified as electors I'M
der the laws of this State, voting at
an election held for hal purpose as
provided in the first part of this arti-
Gle, and said drainage districts.
through the boards of commissioners
thereof, may incur indebtedness and
issue negotiable bonds therefor pay
able in principal and interest out of,
and not to exceed in principal and in
terest, the aggregate amount to be
raised by said annual contributions
during the period for which the same
are levied. No such drainage bonds
shall be issued for any other purpose
than that for which said contributions
were voted and shall not run for a
longer period than forty years from
their date, nor bear a greater rate of
interest than five per cent per annum
nor be sold for less than par.
All contributions and acreage taxes
heretofore authorized by a vote of a
majority in number and amount of the
property taxpa yers qualified to vote
under the laws of this State at cleo
tiOnS held in drainage districts or
ganized under existing laws are here
by ratified and confirmed, and their
validity shall not be questioned.
Section 2. Be it further resolved,
That the official ballots to be used at
said election shall have printed there
on the words: ''For the proposed
amendment to Article PSI of the Con-
stitution relative to drainage dis
tricts." and the words against the
proposed amendment to Article PSI of
the Constitution relative to drainage
DISTRICTS and each elector shall in
dictate as provided in the general cleo
ton laws of the State whether he votes
for or against the proposed amend
ment.
P. M. LAMBREMONT,
President Pro TEN of the Senate.
j. w. UYAMS.
Speaker of the House of Represen-
tatives.
Approved July 9th, 1906.
NEWTON G. BLANCHARD,
Governor of the State of Louisiana.
A true copy:
JOHN T. MICHEL,
Secretary of State.