The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-09-17

parish. and where there is no offic;al u
Journal. in newspaper published 5
therein. may incur debt. and issue ma
gotiable bonds therefor. to the extant
of one-tenth I-10) Of the assessed Val.
uation of the property within said mn
nicipal corporation. parish. school ar
drainage or sewerage district, as shown
by the last assessment made prior to
the submission of the proposition 10
the property taxpayers. as above pros
vided and may be authorized by the
property taxpayers voting at said elee
tion.to levy and assess special taxes
upon the property subject to taxation
in the parish. school, sewerage or
drainage district or corporations; pro.
vided. said taxes so imposed do no;
exceed five 60 mills on the dollar Of
the assessed valuation in any one III
year, nor run for greater number al
years than the number named In thu
proposition submitted to the taxpayers s.
No bonds shall be issued for any oth.
er purpose than stated in the submis-
sion of the proposition to the taxpay-
ers, and published for thirty days fa1A
as aforesaid. nor for a greater amouni
than therein mentioned; nor shall such
bonds be issued for any purpose than
for paying and improving street,
roads and alleys, purchasing or con-,
structing systems of water-works
sewerage. drainage. lights. public marks
and buildings, bridges and other works
of public Improvement the title ~
which shall vest in the municipal cor.
poration, parish, school, sewerage or
drainage districts, as the case NAV he.
nor shall such bonds run for a l0nyer
period than forty (40) years from their
date. or bear greater rate of Interest
than five 60 per cent per annum, or he
sold by the municipal corporation nar
ish. school, drainage or sewerage dfs
trict issuing same for less than par.
The municipal corporation, parish
school. sewerage or drainage diStria..
issuing such bonds shall provide For
the payment of the interest annuailu &
or semi-annually. and the principal
total issue of bonds by any municinait
ty. parish. school. sewerage or drain-
age district. for all purposes, shall nov.
err exceed ten 10) per cent of the nj.
municipality. parish, school. seweras-a
or drainage district. Provided thai
municipal councils shall have autborila
to create within their respective Limits
one or more sewerage DISTRICTS and
provided further, that nothing baraia
contained shall prevent drainage die.
tricts from being established under tha
provisions OF existing laws, and that HI
drainage districts established under tia
laws of this State shall, in addition 4e
the powers hereinabove granted have
the further power and authority ~
levy and assess amman contributions nv
acreage taxes. for the purpose of nro.
vidlns ana maintaining drainage sys-
ii To-
trict not exceeding twenty-five ts5cl5
| cents per acre for a period not 70 a.
| coed forty (4O) years when authorizes
TO do so by vote of a majority in
number and amount of the property tay
| payers of said district qualified as cleo
| tors under the laws of this State. Vol.
ing at an election held for that purposa
as provided in the first part of this ar
| t1cle. and said drainage districts
through the Boards of Commissioner
| thereof. may incur indebtedness and is.
| sue negotiable bonds therefor payahIa
In principal and interest out or ana
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 be issued
for any other purpose than that for
| which said contributions were voted
| and shall not run for a longer period
than forty (40) years from their date
nor bear greater rate OF interest than
/ five per cent per annum. nor be sold
| for less than par.
! All contributions and acreage taxes
heretofore authorized by a vote of 4
majority in number and amount of the
property tax payers, qualified to vote
under the laws of this State at elee-
lions held in drainage districts organ
lied under existing laws are hereby
ratified and confirmed. and their va
lidity shall not be questioned.
Provided that for the purpose of re-
!
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
shawn IN. the first ,Darag raph of this
article. the said new bonds to be known
as Refund Issue Bonds of political
SuD01N1SlOnO -ntr Al
Refund Issue Bonds shall run for a PEE
Rod of forty (40) years from their date,
snali not bear greater rate of inter-
est than five go per cent per annun.
payable annually or semi-annually, az
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
tlther In whole or in part exchanged
Tor the bonds previously issued under
pr by authority of this article. valua
Tor value. or sold and the proceeds
thereof used for the purpose Of pur-
chasing outstanding bonds, Said cleo,
TONS: II favorable to the issuance OF
SAID bonds. shall not occur to cover thu
same issue or issues at frequenter in
tefFals than five (a) years; and each
election shall not only cover any or all
unrefunded bond issues authorized by
ana issued in pursuance of the first
| P"tdS!dpH VI tHlS article. nut may also
include any or all previous refund Isl
sues: And when the bonds of any issue
shai! nave been obtained either BY
purchase or exchange. the tax rate Iev-
ied TO pay for said bonds shall ut once
cease and said bonds be cancelled Mon
eys accumulated to the credit of any
bond issue that Is exchanged for, OF
purchased by the proceeds of the sald
OF, any refund bond issue shall be cred
tied to the said refund issue and made
part OF Its sinking fund
oection z. Be 1t further resolved, etc,
Inat this proposed amendment shall be
submitted to the qualified voters of
me stare ror adoption or rejection at
me presidential and congressional eIec,
ton to be held In November Nineteen
Hundfed and Eight l9osl, if adopted
thereafter. &
Section 3. Be It further resolved. etc.
Ihat on the official ballots to be used
AZ SAID election. there shall be placed
ment to Article Two Hundred and
Eighty-on t2SD of the Constitution
OF Louisiana" and the words: against
me Droposed amendment to Article Two
hundred and Eighty-one f2Sl1 of the
constitution OF the State of Louisiana
ana each electOr shall Indicate as pro-
vIded IN the general election laws Of
the State. which Of the propositions.
Tor or against" he votes.
Fl. q, DUPRE,
sneaker Of the House of REPRESENTATIVES
p. NJ. LAMBREMONT, E
LIEUTENANT doFernOr and President Of
Approved July 9, 1908.
j. Y. SANDERS,
Governor Of the State Of Louisiana
a true copy. JOHN r. MICHEL.
Secretary of State