The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-08-27

published for thirty $500 DAYS in tn
official journal OF the municipality or
parish and where there is no officias Is
journal. in a newspaper pubI;shaa
therein. may incur debt, and issue NJ y
gotiable bonds therefor. to the extan,
of one-tenth 1-10) of the assessed VAL
uation of the property within said mn
nicipal corporation. parish. school -,
drainage or sewerage district us show, @
by the last assessment made prior ~
the submission of the proposition ~
the property taxpayers. as above pro-
vided and may be authorized by tn S
property taxpayers voting at said cleo
tiOn.tO levy and assess special taxe.
upon the property subject to taxation S
In the parish. school. sewerage or
drainage district or corporation. nro.
vided. said taxes so imposed do mr.,
exceed five (5) mills on the dollar -
the assessed valuation In any one ri st
year. nor run for Il greater number az
years than the number named in IN
proposition submitted to the taxnavars
No bonds shall be issued for any ain
er purpose than stated in the submia-
sion of the proposition to the taxnav-
ers. and published for thirty DAYS "a,
as aforesaid. nor for a greater amonn;
than therein mentioned; nor shall snns
bonds be issued for any purpose tbam
for paying and improving streets
roads r,n,s,; al, ana alleys. purchasing or con.
sewerage. drainage, lights, public parEs
and buildings bridges and other worIs
OF pubic Improvement. the title TO
which shall vest in the municipnI COY
drainage districts, as the case NAV h ~.
nor shall such bonds run for n longar
period than forty t0) years from the;n
date. or bear a greater rate of intaras.
man i've %, per cent per annum, or be
sold by the municipal corporation. ny
ish. school. drainage or sewerage dis.
trict issuing same for less than mar
The municipal corporation, parish
schooi. sewerage or drainage district
issuing such bonds shall provide fo
the payment of the interest annu,II
or seml-annually. and the princinas
thereof ut maturity; provided that fha
total issue of bonds by any municinaii.
ty. parish, school sewerage or draim
age district. for all purposes. shall na,,
ef exceed ten (lD) per cent of the 40.
sessed value of the property in s4,ch
municipality. parish. school. Sewerage
or drainage district PROVIDED ths
municipal councils shall have autho,ias.
to create within their respective limits
one or more sewerage districts. ma
provided further. that nothing, beraiss
contained shall prevent drainage din.
trlcts from being established under tha
provisions of existing laws, and thar III
DRAINAGE districts established under tha
laws of this State shall in addition =,
the powers hereinabOve granted have
levy and assess amman contributionS ~
acreage taxes. for the purpose of nro
vfding and maintaining drainara srs
TENS. on all lands situated in such dc
.rlct not exceeding twenty-five t25cl
cents per acre for Il period not IA aS
coed forty (40) years when autbor;.aa
10 do so by vote of IL majority ~
number and amount of the properly tax
payers OF said district qualified us elee.
tors under the laws OF this STATE ~
ing at an election held for that pu,nos.
as provided in the first part of this an.
ticle ana said drainage districts
through the Boards of Commissioning
thereof. may incur indebtedness and 4.
sue negotiable bonds therefor pavahIA
In principal and interest out of and
not to exceed in principal and intereus :
the aggregate amount to be raised he
SAID annual contributions during the
period for which the same are levied
No such drainage bonds shall be issueS
Tor any other purpose than that for
which said contributions were voted
ana shall not run for longer period
IMAM forty (40) years from their data q
nor bear n greater rate of interest tha,.
five per cent per annum, nor be sofa
for less than par.
All contributions and acreage taxes
heretofore authorized by Il vote Of 4
majority in number and amount OF the
property tax payers. qualified to vote
under the laws of this State at cleo.
tions held in drainage districts organs
lied 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.
tiOn. municipal corporations. parishes
and school sewerage or drainage dis.
tricts. when authorized to do so as
above shown for the issuance of bondA
may issue new bonds covering any par
ticular issue or issues Of bonds. or the
whole outstanding bonded Indebtedness
incurred under. and for the purpose
shown in, the first paragraph OF this
C.1i tn, he I'M WI
as Refund Issue Bonds Of tPolitical
| Subdivision1 in the year -" Said
Refund Issue Bonds shall run for a PEI
ROD of forty (40) years from their date.
shall not bear a greater rate of inter-
est than five 80 per cent per annum,
| payable annually or semi-annualIy. 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. for less than par
| The said Refund Issue Bonds may be
tlther In whole or in part exchanged
| TOR the bonds previously issued under
Or by authority of this article. Value
| for 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 the
| same issue or issues at .frequcnter in
| tervals than five 80 years; and each
| election shall not only cover any or all
1
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 lrv-
| led to pay for said bonds shall ut once
| cease and said bonds be cancelled. Nom
eyS accumulated to the credit Of any
bond issue that Is exchanged for, o.
purchased by the proceeds of the sale
OF. any refund bond issue shall be cred-
tied to the said refund issue and made
part of it's 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 al
the presidential and congressional elec-
ton to be held In November, Nineteen
Hundred and Eight u90S). IL adopted
the same shall tax" effect immediately
| thereafter.
Section ;. 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
Eighty-one t2SD Of the Constitution
of Louisiana. and the words: Against
| the proposed amendment to Article Two
Hundred and Eighfy-one t2Sl) of the
Constitution OF the State of Louisiana.
and each clector shall indicate. as pro-
the State. which OF the propositions,
for or against" he votes
Fl. G. DUPRE.
Speaker Of the House of Representatives
p. NJ. LAMBREMONT,
Lieutenant Governor and President OF
the Senate.
Approved July ?. 1898
J. " SANDERS
Governor Of the State of Louisiana.
A true copy JOHN T. MICHEL.