The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1908-09-26

sr.ee districts: and provided fur,
that nothing herein contained
w nreyent drainage districts from
snan established under the provis-
Delne ~ existing laws, and that all
i ons district established under
oIa',. .ve of this State shall, In addi-
tns - the powers hereinabove grant
wv hsve the further power and auth
e. ~. - - levy and assess annual con-
ovation. .1ss or acreage taxes, for the
u.vrose of providing and maintain
- 2. drainage systems. on all lands
~ I:ss..ted IN such district not exceed
=. tveuty-five (25c) cents per acre
e : period not to exceed forty (40)
=. when authorized to do SO by a
~ Of q majority in number and
.~ount of the property tax payers
q ala district qualified az electors
ssaer the laws Of this State. voting
: an election held for that purpose
= nroyided in the first part Of this
s,t;cle. and said drainage districts,
ssroush the Board Of Commissioners
sAsreof may incur Indebtedness and
ssne negotiable bonds therefor pay
~ m principal and interest out Of,
~ not to exceed in principal and
hterest, the aggregate amount to
= rsised by said annual contribu-
- during the period for which tine
~ are levied. No such drainage
MO shall be issued for any other
,r,.oxe than that for which said con-
t,iIutions were voted and shall not
M for q longer period than forty
fl0) years from their date, nor
NJ greater rate of interest than
~ per cent. per annum, nor be
~ for less than par.
An contributions and acreage tax
mAeretofore authorized by vote of
1 Majority in number and amount
e he property tax payers, qualified
b yote under the laws of this State
# elections held in drai:,; ye districts
9spnized under existing laws are
lereby ratified and confirmed, and
their validity shall not be question
q.
Provided that for the purpose of
reducing the total rate of special tax
ation, municipal corporations, parish
q and school sewerage or drainage
districts, when authorized to do so
q above shown for the issuance OF
bends, may issue new bonds cover
Is any particular issue or issues of
boads, or the whole outstanding
tguded indebtedness incurred under,
"a for the purpose shown in, the
lFH paragraph of this article, the
oaM new bonds to be known as Re-
md Issue Bonds of political Sub
VISION in the year -" Said
1sfund Issue Bonds shall run for a
pesiod of forty (4O) years from
iAsir date, shall not bear a greater
Mt of interest than five per cent
~ annum, payable annually or semi
alaually, as the ordinance calling
" the election may direct, and shall
IT be sold by the municipal cor
pog1tion, parish school sewerage or
lIainage district issuing same. for
|S than par.
The said Refund Issue Bonds may
~ either in who'e or in part ex-
lnged for the bonds previously is
- under or by authority of this
|ettele. Value for value. or sold and
~ proceeds thereof used for the
Nfpose Of purchasing outstanding
ee1D. Said elections, If favorable
Tie issuance of said bonds, shall
= occur to cover the same issue or
les 1t frequenter intervals than
~ 10y years; and each election
~ not only cover any or all unre-
led bond isused authorized by
~ hsued in pursuance Of the first
graph of this article, but may
- include amy or all previous re-
~ issued. And when the bonds of
n issue shall have been obtained
- by purchase or exchange. the
rate levied to pay for said bonds
~ at once cease and said bonds
cancelled. Money accumulated to
leeredit of any bonds issue that 10
hanged for. or purchased by the
weeds Of the sale Of. any refund
II issue shall be credited to the
h. refund issue and made part Of
sinking fund.
sction 2. Be It further resolved,
8 That this proposed amendment
~ be submitted to the qualified
less Of the State for adoption or
gecsion at the presidential and
Agressional election to be held fl
!osember, Ninteen Hundred and
AT (1908.) IL adopted. the same
~ take effort Immediately there
1ection 3. Be it further resolved,
=. Ahat on the Official ballots to be
~ ct said election. there shall be
~ the words: For the proposed
odment to Article Two Hundred :
Eighty-one (2S1) of the Con-
ltlon Of louisiana" and the !,
- Against the proposed amend
to Article Two Hundred and |
sy-one (281) of the Constitu-
% the State of Louisiana" and
eiector shall indicate. 40 pro-
~ the general election laws of |
ate. which Of the propositions
Or against he votes.
H. G. DUPRE,
DAkAa -