The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-10-22

an election held for that purpose. after
due notice OF said election has been
published for thirty (s0) days in the
official journal Of the municipality or
Journal. in a newspaper published
therein. may incur debt. and issue me-
gotiable bonds therefor. to the extent
of one-tenth u-10) OF the assessed vail
nicipa1 corporation. parish. school, or
drainage or sewerage district, as shown
by the last assessment made prior to
the submission Of the proposition to
the property taxpayers. as above pro-
vided and may be authorized by the
property taxpayers voting at said cleo
upon the property subject to taxation
| in the parish. school, sewerage or
| drainage district or corporation: pro-
vided. said taxes so imposed do not
the assessed valuation in any one al
year, nor run for a greater number OF
years than the number named in the
proposition submitted to the taxpayers.
| No bonds shall be issued for any 9TH
er purpose than stated In the submits
sion of the proposition to the taxpay-
ers and published for thirty days (30),
as aforesaid. nor for greater amount
than therein mentioned; nor shall such
| bonds be issued for any purpose than
for paying and improving streets
roads and alleys. purchasing or con-
structing "systems'' of water-works,
sewerage, drainage. lights, public parks
and buildings, bridges and other works
of public Improvement, the title to
which shall vest In the municipal cor
poration. parish. school, sewerage or
drainage districts, as the case may be-
nor shall such bonds run for longer
period than forty (40) years from their
date. or bear greater rate of interest
than five go per cent per annum, or be
sold by the municipal corporation par
ish. school, drainage or sewerage dis
trict issuing same for less than par
a M nj VNnl
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 municipali-
ty. parish. school. sewerage or drain
age district, for all purposes, shall new
er exceed ten 10) per cent of the as
sessed value OF the property in such
. municipality. parish. school, sewerage
or drainage district. Provided that
municipal councils shall have authority
, to create within their respective limits
. . one or more sewerage districts; and
, provided further, that nothing herein
! contained shall prevent drainage dis
tricts from being established under the
= provisions OF existing laws and that all
1 drainage districts established under the
! laws of this State shall. in addition "a
= the powers hereinabove granted, have
the further power and authority tn
. levy and assess annuaa contributions or
acreage taxes. for the purpose of pro-
viding and maintaining drainage sys-
TENS. on all lands situated in such dis
a trict not exceeding twenty-five (25c1
= cents per acre for a period not to ex-
= coed forty t40) years when authorized
? TO do so by a vote of majority In
number and amount Of the property tax
10 payers Of said district qualified as elec-
tors under the laws Of this State vot-
ing at an election held for that purpose
/. as provided In the first part of this ar
a ticle, and said drainage districts.
= through the Boards of Commissioners
4 thereof, may incur Indebtedness and is
= sue negotiable bonds therefor payable
- in principal and interest out of. and
n not to exceed in principal and interest.
3 the aggregate amount to be raised by
n said annual contributions during the
n period for which the same are levied
"a for any other purpose than that for
ri which said contributions were voted
!. and shall not run for a longer period
ID than forty (40) years from their date
., five per cent per annum. nor be sold
:. for less than par.
10 All contributions and acreage taxes
q heretofore authorized by vote Of
/. majority In number and amount of the
81 property tax payers, qualified to vote
e. under the laws of this State at elea
ID lions held in drainage districts organ
r. ICED under existing laws are hereb,
ID ratified and confirmed, and their va
IA lidity shall not be questioned.
1t Provided that for the purpose Of re
IN ducing the total rate Of special taxa
a. and school sewerage or drainage dis
s. tricts when authorized to do so a
W above shown for the issuance of bonds
n may issue new bonds covering any par
ed ticular issue or issues Of bonds, or tn
en- whole outstanding bonded indebtedness
en- incurred under. and for the purpos'
n shown in, the first paragraph Of thi
e, article, the said new bonds to be know
&c as Refund Issue Bonds of (Politica
{Nyio nHpA to hn Ali
a. Refund Issue Bonds shall run for pc
40 riod Of forty (40) years from their date
Y shall not bear greater rate of inter
19 est than five (5) per cent per annun
az payable annually or semi-annually. a
M the ordinance calling for the election
Cd may direct, and shall not be sold by TIL
municipal corporation. parish, school
Q, sewerage or drainage district issuini
o. same. for less than par.
no The said Refund Issue Bonds may b
O. either in whole or in part exchanges
on for the bonds previously issued nnde
II DIT by authority of this article. Valu
m for value, or sold and the proceed
thereof used for the purpose of pur
~ chasing outstanding bonds. Said elec
res lions. II favorable to the Issuance o
go said bonds. shall not occur to cover th
IT, same issue or Issues at frequenter in
la tervals than five go years; and eac
r. election shall not only cover any or a
he unrefunded bond issues authorized b
OF and issued In pursuance of the frs
is paragraph of this article, but may ais
ere include any or all previous refund is
all sues. And when the bonds of any issu
raj shall have been obtained either b
he purchase or exchange. the tax rate lev
led to pay for said bonds shall at ono
cease and said bonds be cancelled. Nor
res eys accumulated to the credit of an
bond issue that Is exchanged for, {
of purchased by the proceeds Of the sal
OF. any refund bond issue shall be cred
tied to the said refund issue and mad
part of its sinking fund
ma. Section 2. Be 1t further resolved, ctr
That this proposed amendment shall /
submitted to the qualified voters I
the State for adoption or rejection
the presidential and congressional ele,
ea ton to be held in November .Ninetee
So' Hundred and Eight (19OS), If adopte
the same shall take effect Immediate
l34 thereafter
al cuon .. be IL TURNER resolved ets
vii Ina. on the official ballots to be use
Or. at said election. there shall be placs
the words: For the proposed amen'
an. ment to Article Two Hundred ar
la Eighty-one t2sD of the Constitute
ct. OF Louisiana" and the words: Again
the Hundred and Eighty-one f2s1) Of Il
the Constitution OF the State Of Louisiana
IN and each elector shall indicate, as pr
and vided In the general election laws
Rat the State. which OF the proposition
VS.. Tor or "asa' II :. h he yetes
,ne Speaker Of the House OF Representativ
al p. M. LAMBREMONT.
the Lieutenant Governor and President
ttS the Senate.
nm Approved July .. 1908.
]. Y. SANDERS
Governor OF the State of Lousan
VAL eopS. 'os,N !: MlCffE H.
lal1 secretary VI ot'ee
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