The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-09-03

M
parish. and where there is no official
journal. in newspaper publishaa
therein. may incur debt. and issue me-
gotiable bonds therefor. to the extent
uation of the property within said mn.
nicipal corporation. parish. school. n,
drainage or sewerage district. as shown
by the last assessment made prior ~
the submission of the proposition Ia Il
the property taxpayers. as above nra,
vided and may be authorized by tn.
property taxpayers voting at said cleo
tion.to levy and assess special taye.
upon the property subject to taxation
in the parish. school, sewerage q. s
drainage district or corporation: nro.
vided. said taxes so imposed do not
exceed five 60 mills on the dollar ~ d
the assessed valuation in any one ri i
year. nor run for Il greater number - 81
years than the number named i'm H.
proposition submitted to the taxpayers
No bonds shall be issued for any oth-
er purpose than stated in the submis. l
sion OF the proposition to the taxpay.
ers. and published for thirty DAYS tsa,
as aforesaid, nor for a greater amounr,
than therein mentioned; nor shall snnh
bonds be issued for any purpose than
for paying and improving streets
structinE systems of water.worIs
sewerage. drainage, lights, public narns
and buildings. bridges and other wnrn
of public Improvement. the title 10
viz. sha1A VEST IN the municipal COR
poration. parish, school. sewerage =.
drainage districts. as the case NAV hs.
nor shall such bonds run for n longe.
period than forty 600 years from tbs;r
date, or bear greater rate of interes.
than five go per cent per annum mr. ~.
sold by the municipal corporation. nar
isns schooi. drainage or sewerage dis.
trict issuing same for less than bar
The municipal corporation, parish
S ;s,. sewerage or drainage district
hall
the payment OF the interest annu,iI,,
or semi-annually, and the princinsi
thereof at maturity; provided that fha
totaI issue OF bonds by any municipali.
ty. parish. school, sewerage or dra;r
age district. for all purposes, shall na,,
er exceed ten (1O) per cent of the a.
sessed value Of the property in suck
municipality. parish. school, sewerapa
OF DRAINAGE district. Provided that
municipal councils shall have autborits.
to create within their respective limit.
one or more sewerage districts: ana
provided further, that nothing berais u
contained shall prevent drainage dis.
tricts from being established undar ~
provisions of existing laws, and that III
drainage districts established under tha
laws of this State shall in addition ts
the powers hereinabOve granted bava
,ne TURNER power and authority tn
levy and assess annual contributions ~
acreage taxes. for the purpose Of nro
VldlnR and maintaining drainage rvs
TENS, on all lands situated in such as
trict not exceeding twenty-five (s5cl
coed forty 900 years when authorizes
10 do so by vote of a majority IN
number and amount of the propertv "a.
payers of said district qualified as eiee.
Tors nhder the laws of this State. vof-
Ing at an election held for that nnrnns.
as provided In the first part of this ar
ticle. and said drainage districts
through the Boards OF Commissioner
thereof. may incur Indebtedness and is.
sue negotiable bonds therefor pavahia
in principal and interest out of ana
not to exceed in principal and interest
the aggregate amount to be raised nv
said annual contributions during tha
period for which the same are ievias
No such drainage bonds shall be issmsd
Tor any other purpose than that for
which said contributions were voted
and shall not run for q longer period
than forty (4O) years from their date
nor pear a greater rate of interest than
five per cent per annum, nor he sold
Tor less than par.
All contributions and acreage taxes
heretofore authorized by Il vote Of a
property tax payers. qualified to vote
under the laws OF this State at elee
tons held in drainage districts organ.
ized under existing laws are hereby
ratified and confirmed. and their va
| lidity shall not be questioned
Provided that for the purpose OF re-
ducing the total rate Of special taxa.
| ton. municipal corporations. parishes
| and school sewerage or drainage dis
| tricts, when authorized to do so as
| above shown for the issuance of bonds
may issue new bonds covering any par
| tlcular 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
| "Rpfnnd of
suhdfvision) In the year -" Said
Refund Issue Bonds shall run for a PEE
Fiod OF forty t4O years from their date.
shali not bear y greater rate of inter-
est than five t3) per cent per annum,
payable annually or semi-annually. rs
| the ordinance calling for the election
may direct, and shall not be sold by the
municipal corporation. parish, school,
| beverage or drainage district Issuing
| same, for less than par.
The said Refund Issue Bonds may be
either in. whole or in part exchanged
Tor the bonds previously Issued under
for value. or sold and the proceeds
thereof used for the purpose OF pur-
chasing outstanding bonds. Said cleo
| lions. Ii favorable to the Issuance of
same issue or issues at frequcnter in.
tervals than five t5l years; and each
election shall not only cover any or all
unrefunded bond issues authorized by
and issued In pursuance of the first
paragraph OF this article. but may also
include any or all previous refund is
| sues. And when the bonds OF any Issue
shall have been obtained either by
purchase or exchange. the tax rate lew
led to pay for said bonds shall at once
cease and said bonds he Cancelled. Mon
eys accumulated to the credit of any
bond issue that IL exchanged for or
purchased by the proceeds of the sale
of, any refund bond issue shall be rred-
tied to the said refund issue and made
part of its sinking fund.
Section 2. Be 1t further resolved, etc,
That this proposed amendment shall be
submitted to the qualified voters Of
the State for adoption or rejection at
the presidential and congressional elec-
ton to be held In November. Nineteen
Hundred and Eight 19oS). II adopted
the same shall take effect Immediately
thereafter.
Section 3. Be II further resolved. etc.
That on the official ballots to be used
at said election. there shall be placed
the words: For the proposed amends
ment to Article Two Hundred and
Eighty -nnc t2SD OF the Constitution
of Louisiana" and the words: Against
the proposed amendment to Article Two
. Hundred and Eighty-one t2SD of the
, Constitution Of the State OF Louisiana
and each clectOr shall indicate. as pro-
vided In the general election laws OF
the State. which OF the propositions,
for" or against" h he votes.
. Speaker OF the House of Representatives
p. NJ LAMBREMONf.
, Lieutenant Governor and President OF
the Senate.
Approved July .. 1903.
J. Y. SANDERS.
, Governor OF the State of Louisiana.
.. A true copy JOHN T. MICHEL.
Secretary of State. =