The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-09-24

official journal of the municipalitv az
parish. and where there is no official
journal, In newspaper published
therein. may incur debt. and issue ne
gotiable bonds therefor. to the exten,
of one-tenth U-10) of the assessed VAL
uation of the property within said nm
nicipal corporation, parish. school. a.
drainage or sewerage district as shown
by the last assessment made prior IL
the submission of the proposition IN
the property taxpayers. as above prns
vfded and may be authorized by the
property taxpayers voting at said cleo
upon the property subject to taxatior
in the parish, school, sewerage or
drainage district or corporations; pro.
vided. said taxes so imposed do nor
exceed five t5) mills on the dollar Of
the assessed valuation in any one al
year, nor run for a greater number 81
years than the number named in tha
proposition submitted to the taxpayers
No bonds shall be issued for any 9TH
er purpose than stated In the submis.
sion of the proposition to the taxpay
ers. and published for thirty DAYS 1a0l
as aforesaid. nor for a greater amount Z
than therein mentioned: nor shall such
bonds be issued for any purpose thar
for paying and improving streets
roads and alleys, purchasing or con.
structinS systems" of water-works
sewerage, drainage, lights, public parks
and buildings, bridges and other worns
of public Improvement, the titIa ~
which shall vest in the municipal cor.
poration, parish, school, sewerage a.
drainage districts, as the case may he.
nor snail such bonds run for longer
period than forty t40) years from Their
date. or bear greater rate of interes,
than five go per cent per annum, or Ia
sold by the municipal corporation. pars
ism, school, drainage or sewerage dis.
trict issuing same for less than par,
The municipal corporation. par,sh
school sewerage or drainage districr
issuing such bonds shall provide for
the payment Of the interest annuaiS.
thereof at maturity; provided. tbat M
total issue of bonds by any municipaiiS
ty, parish, school, sewerage or drnin-
age district, for all purposes, shall new
sessed value OF the property in such
municipality. parish, school, sewerage
or drainage district. Provided thai
municipal councils shall have authoriS,s
TO create within their respective limits
one or more sewerage districts, ana
provided further that nothing herain
contained shall prevent drainage disN
tricts from being established under tha
provisions of existing laws and that ali
drainage districts established under tn
laws or this State shall in addition ~
the powers hereinabove granted. have
the further power and authority ~
levy ana assess amman contributions ~
acreage taxes, for the purpose 40 nro.
viding and maintaining drainage svs
TENS, on all lands situated in such die.
tr1ct not exceeding twenty-five 125ca
cents per acre for a period not to AZ.
peeG fofty t4o) years when authorizes
TO 90 SO by vote of a maioritv II
number and amount of the property tax
payers of said district qualified as e,acs
tors under the laws of this State. vot.
Ing at an election held for that purpose
as a;s, PROVIDED IN the first part of this arr
thFaugh the Boards of COMMISSIONER
thereof. may incur Indebtedness and is
sue negotiable bonds therefor PAYABLE
IN principal and interest out Of, and
not to exceed in principal and interest
the aggregate amount to be raised bv
| said annual contributions during the
period for which the same are levied
NO such drainage bonds shall he issued
for any other purpose than that fo1
which, said contributions were voted
| and shall not run for a longer pe~ioS
than forty (40) years from their date
nor bear greater rate of interest than
for less than par,
| All contributions and acreage taxes
| heretofore authorized by vote of a
majority in number and amount of the
| property tax payers qualified to vote
under the laws of this State at eI eee
tions held in drainage districts organ.
lied under existing laws are hereby
ratified and confirmed and their va.
lidity shall not be questioned.
!
| 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.
ticular issue or issues of bonds. or thu
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
as Refund Issue Bonds Of political
suhdiVisiopl In the year -" Said
Refund Issue Bonds shall run for PEI
riod of forty t40) years from their date.
snail not bear greater rate of inter-
est than five 81 per cent per annum.
payable 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 or drainage district issuing
| same, Tor less than par
The said Refund Issue Bonds may be
either in whole or in part exchanged
Tor the bonds previously issued under
pr by authority of this article. Value
tor value. or sold and the proceeds
thereof used for the purpose of pur-
chasing outstanding bonds. Said .elec.
| items, If favorable to the issuance OF
SAID bonds. shall not occur to cover the
same issue or issues at freauenter in
tervals than five (5) years; and each
election shall not oh,y 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
snail have been obtained either by
purchase or exchange, the tax rate ley-
led to pay for said bonds shall az once
cease and said bonds be Cancelled Mon
eys accumulated to the credit of any
BOND issue that Is exchanged for or
purchased by the proceeds of the sale
or any refund bond issue shall be crgt-
lted TO the said refund issue and made
part of it's sinking fund
Section 2. Be it further resolved ETC.,
IHat this proposed amendment shall he
submitted to the qualified voters of
the State for adoption or rejection al
the presidential and congressional cleo.
ton to be held in November. Nineteen
Hundred and Eight 190S), if adouted
the same shall take effect Immediately
thereafter
Section g. Be it further resolved. etc.
That en- the official ballots to be used
az said election there shall be placed
the words: For the proposed amend
ment to Article Two Hundred and
EIghty-nne (2SD Of the Constitution
of Louisiana" and the words. ''Against
the proposed amendment to Article Two
hundred and Eighty-one t2Sn of the
" constitution of the State of Louisiana
ana each elector shall indicate, as pra-
vided in the general election laws b!
the state. which of the propositions
for" or against" he votes.
H. G. DUPRE.
. speaker OF the House of Representatives
p. NJ. LAMBREaIONT, n
, Lieutenant Governor and President ot
the Senate.
Approved July o. 1908.
J. Y. SANDERS.
Governor of the State of Louisiana
. A true copy JOHN r. MICHEL
Secretary of State.