St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-10-17


Section i. BE 1t resolved by the General AZ.
sempIy of the State OF Louisiana, two-tbfrsr
(2-31 of all the members elected to each Hone
concurring, That Article Two Hundred and
Eighty-one (2S1) of the Constitution OF IND
state of Louisiana. be So amended as to read
as follows:
school, drainage or sewerage districts the civ
of New Orleans excepted when authorized Il
do so, by vote Of majority In number and
amount of the property taxpayers, qualified
as electors under the Constitution and laws
of this State, voting at an election held for
that purpose after due notice Of said cleo
ton has been published for thirty (30) days
In the official journal OF the municipality or
parish and where there is official jour
nal In a newspaper published therein, may
incur debit and issue negotiable bonds there
for to the extent of one-tenth (l-10) of the
assessed valuation Of the property within said
municipal corporation, parish, school. or drain
age or sewerage district. as shown by the last
assessment made prior TO the submission Of the
proposition to the property taxpayers, as above
uruyided and may be authorized by the prop
erty taxpayers voting at said election, to levy
and assess special taxes upon the property sub.
iect to taxation in the parish. school, sewerage
or drainage district or corporation; provided,
said taxes 80 imposed DO not exceed Eve t5)
mills on the dollar of the assessed valuation
I'm any one 1) year, run for a greater
number of years than the number named in
the proposition submitted to the Taxpayers
No bonds shall be issued for any other pur-
nose than stated in the submission of the prop.
osition to the taxpayers, and published for
thirty days (3o). as aforesaid, nor for greater
amount than therein mentioned; nor shall such
bonds be issued for any purpose tnan for paving
and improving streets roads and alleys, drain
age lights, public parks and buildings bridges
and other works of public improvement, the
title to which shall vest in the municipal
peratino parish. school sewerage or drainage
districts as the may be; nor shall sue
bonds run for a longer period than forty t40s
years from their date, or bear greater rate Of
nant nor
be sold by the municipal corporation, parish,
school drainage sewerage district issuing
same for less than par.
The municipal corporation, parish school,
sewerage or drainage district Issuing such bonds
shall provide for the payment of the interest
annually or semi-annually. and the principal
thereof at maturity; provided that the total
issue of bonds by any municipality, parish
| school sewerage or drainage district, for all
purposes shall never exceed ten flo) per cent
| of the assessed value of the property In such
municipality, parish, school, sewerage or drain
age district Provided that municipal eoun-
ellis shall have authority to create within their
respective limits or more sewerage districts;
| and provided further that nothing herein con-
| tanned shall prevent drainage districts from
beinC established under the provisions Of exist
| ing laws, and that all drainage districts estab
! Iished under the laws of this State shall, in
| addition to the powers hereinabove granted.
have fine further power and authority to levy
and assess annual contributions or acreage
| taxes for the purpose OF providing and main
tanning drainage systems, on all lands sltuatt
/ ed in such districts not exceeding twenty-five
| J25r1 cents per acre for a period not to exceed
forty (4Ol years when authorized tc do by
| a vote OF a majority IN number and amount
/ of the property tax payers of said district
| nusIified as electors under the laws of this
state voting at an election held for that pur-
| pose as provided in the first part OF this az
| ticle and said drainage district. through the
| Roards of Commissioners thereof, may incur
| Indebtedness and issue negotiable bonds there
for payable In principal and interest out Of,
| and not to exceed in principal and interest
| the aggregate amount to be raised by said
animal contributions during the period for which
/ the same are levied. No such drainage b0nds
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
| (4O) years from their date, nor bear a greater
| rate of interest than five per cent. per annun.
/ nor be sold for less than par
| All contributions and acreage taxes hereto
fore authorized by q vote of majority 10
| number and amount of the property tax pay
ers qualified to vote under the laws of THU
| State at elections held in drainage districts
| organized under existing laws are hereby rati.
| fed and confirmed and their validity shall
not be questioned
| Provided that for the purpose Of reducing
| the total EEte of special taxation. municipal
| corporations parishes and school. sewerage or
| drainage districts, when authorized to do so az
| above shown for by the issuance Of bonds, may
| issue new bonds covering any particular issue
or issues of bonds. or the whole outstanding
| bonded indebtedness incurred under, and for the
purpose shown IN the first paragraph Of this
| article. the said new bonds to be known -
| Refund Issue Bonds of (Politieal Subdivision)
i in the year -" Said Refund Issue Bonds
shall run for period of forty t401 years FROM
| their Gate, shall not bear q greater rate OF
| interest than i've t5l per cent per nnnum payaa
| BILE annually or semi-annually. as the ordinance
| calling for the election may direct. and shall
not be sold by the municipal corporation, parish.
| school, sewerage drainage district Issuing
same, for less than par.
The said Refund Issue Bonds may be either
| in whole or in part exchanged for the bonds
previously issued under or by authority Of this
| article. Value for value, sold and the pro-
ceeds thereof used for the purpose OF purchasing
outstanding bonds Said elections. II favora'
BILE to the issuance Of said bonds, shall MD
occur to cover the same issue or issues at FIRE.
quenter Intervals than five (5) years; and each
| election shall not only cover any or all Unre7
| funded bond issues authorized by and issued II
| pursuance of the first paragraph Of this article.
but may also include any all previous refund
issues. And when the bonds Of any issue ahail
| have been obtained either by purchase or ex
| change, the tax rate levied to pay for said
bonds shall at once cease and said bonds b.
| Cancelled. Money accumulated to the credit Of
any bond issue that Is exchanged for, or pur
chased by the proceeds of the sale of, any
| refund bond Issue shall be credited to the said
refund issue and made part Of its sinking fund
Section 2. Be 1t further resolved y
| this proposed amendment shall be submitted Il
| the qualified voters of the State for adoption
| or rejection at the presidential and congress
| sional election to be held in November. Nine
teen Hundred and Eight t100S) If adopted, ths
same shall take effect Immediately. thereafter
Section g. BE 1t frrther resolved, etc THAI
on the Official ballots to be used at said cleo
tion there shall be placed the words: FFor thu
proposed amendment to Article Two HUNDRED
and Eighty-one (281) of the Constitution Of
Louisiana, and the words: Against the pro
| posed amendment to Article Two Hundred ana
! EiGhty-one (2S1) OF the Constitution OF tn,
State Of Louisiana and each electoP shall in
dieate, as provided In the general election law
Of the State. which of the propositions s'evr'' Of
against he votes.
H. c. DUPRE
Speaker of the House of Representatives
p. n. LAMBREMONT.
Lieutenant Governor and President OF tn,
Senate. Approved July 9. 1905
]. Y. SANDERS.
true copy
JOHN T. MICHEL,