St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-09-26


Section !. Be It resolved by tine General Ass
semply of the State of Louisiana, two-thirdg
f2-3l of all the members elected to each HOUSE,
eencurring, That Article Two Hundred and
Eighty [2S1l Of the Constitution Of the
State of Louisiana, be amended as to read
as follows
Article PSI. Municipal corporation parishes,
school, drainage or sewerage districts the City
of New Orleans excepted when authorized to
do So by vote of majority in number ana
amount of the property taxpayers, qualified
as electors under the Constitution and laws
of this State, voting at an election held IN
that purpose, after due notice of said eli
ton has been published for thirty 1907 da
in the official journal of the municipality "A
parish, and where there is official id 9oN
nal in a newspaper published therein, nsssr-s
incur debt. and issue negotiable bonds thsaay
for to the extent of One-tenth 1-1o) of he re
assessed valuation Of the property within ssIa
municipal corporation, parish, school, or drain
age sewerage district, as shown by the last
assessment made prior TO the submission OF fbS
proposition to the property taxpayers ms above
provided and may be authorized by the prop
erty taxpayers voting at said election, TO levy
and special taxes upon the property sub
ject to taxation. in the parish school. sewerage
or drainage district corporation; provided.
said taxes imposed do not exceed .hye (5)
mills the dollar OF the assessed valuation
in any ~ year, nor run for greater
number of years than the number named in
the proposition submitted to the taxpayers
No bonds shall be issued for any other pur-
pose tHan stated IN Iue SupuLsSloH "a Ahc PAop-
ostion to the taxpayers, and published for
thirty days (30), aforesaid, nor for a greater
amount than therein mentioned nor shall such
| bonds be issued for any purpose than 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 cor
| poratino parish. school sewerage drainage
| districts as the may be; nor shall SUI =
| bonds run for a longer period than forty (4LS
| years from their date, or bear a greater rate of
| interest than five 90 per cent per annum, or
| he 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 (1o) per cent
| Of the assessed value of the property in such
age district Provided that municipal coun-
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
| being established under the provisions of exist
ing laws, and that all drainage districts estab-
| lished under the laws of this State shall, In
addition to the powers hereinaboFe granted
have the further power and authority to levy
and assess annual contributions or acreage
| taxes for the purpose Of providing and main
tanning drainage systems, on HI lahos sll4
ed In such districts not exceeding twenty
(25c) cents per for a period not TO ex$ &
forty (40) years when authorized to do so ~
vote of q majority IN NUMBER ana ann "a
| of the property tax payers OF said disESsS
qualified as electors under the laws OF AcS
State voting at election held for that fnSSS
pose as provided in the first part OF this s. y
| ticIe and said drainage district. through the
| Boards of Commissioners thereof, may incur
indebtedness and issue negotiable bonds there
| for payable in principal and interest out OF,
I aYVn,a1 and frfn PacS
| 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 longer period than forty
; (4Oj years from their date, nor bear great&I
rate Of interest than Ave per cent per annum
nor be sold for less than par. .
All contributions and acreage taxes hereto
| fore authorized by vote of a majority ID
number and amount of the property tax pay
i ers qualified to vote under the laws of thii
state at elections held in drainage districts
organized under existing laws are hereby rati
l fed and confirmed. and their validity shall
not be questioned"
f provided that for the purpose of reducing
| the total rate Of special taxation, municipa
t corporations, parishes and school, sewerage Of
drainage districts. when authorized to do SO al
o above shown for by the issuance of bonds, maj
issue new bonds covering any particular ISSUE
or issues of bonds, or the whole outstanding
e bonded Indebtedness incurred under and for tbs
purpose shown in the first paragraph Of thti
: article the said new bonds to be known II
e Refund Issue Bonds Of political Subdivision
e in the year -" Said Refund Issue Bond
shall run for period Of forty (40) years from
n their date shall not bear a greater rate Of
It interest than five t5) per cent per annum paya
IS BILE annually or semi-annuaily, as the ordinance
calling for the election may direct. and shall
not be sold by the municipal corporation parish
y | school sewerage drainage district ISSUING
L | same, for less than par.
d The said Refund Issue Bonds may be eithe
'e In whole OF In part exchanged for the bond
e previously issued under or by authority of thi
is article. Value for value sold and the pro
D ceeds thereof used for the purpose of PURCHASING
d outstanding bonds. Said elections. II favora
d BILE to the issuance Of said bonds. shall Mt
l. occur to cover the same issue or issues at FIRE
s. quenter Intervals than five (5) years; and eac
81 election shall not only cover any or all unre
n funded bond issues authorized by and issued II
to pursuance of the first paragraph Of this article
D. but may also include any OF all previous refun
or Issues. And when the bonds OF any issue shal
"a have been obtained either by purchase or ez
er change. the tax rate levied to pay for sal
bonds shall at once cease and said bonds
In Cancelled. Money accumulated to the credit o
Id any bond issue that Ia exchanged for, or pui
o. chased by the proceeds of the sale OF, an
n refund bond Issue shall be credited to the sRt
ne refund issue and made part Of Its sinking fund
81 Section 2. Be 1t further resolved or Tn
no this proposed amendment shall be submitted I
an the qualified voters of the State for adoptio
OF or rejection at the presidential and eongre;
II, | sional election to be held in November. Minis
~ teen Hundred and Eight t1SuS) II adopIsd, IN
SO same shall take effect Immediately. thereafter
OF Section 8. Be 1t further resolved, etc. Tina
rs nm tbe official ballots 70 he used at said elet
II ton. there shall be placed the words: For II
u proposed amendment to Article Two Hundrs
rs and Eighty-one (2Sl) OF the Constitution {
ed Louisiana" and the words: Against the pr
ny posed amendment to Article Two Hundred an
ne Eighty-one (2s1) of the Constitution of
al State of Louisiana and each elector shall Il
Is dictate, as provided in the general election Law
of the State, which Of the propositions for
AT against" he votes.
he H. G. DUPRE.
'or Sneaker of the Honss Of Representa- tive
&C. P. N. LAMBREM0NT
Oh Lieutenant Governor and President Of Il
Senate. Approved July Q. 1905
!id J. Y. SANDERS
Is: Governor oF the state Of Iohisiap
'"3 true copy.
Ia TnpNr n nEycIYry