The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-10-15

official journal of the municipality or
parish. and where there is no official
therein. may incur debt and issue ne
gotiable bonds therefor, to the extent
of one-tenth 1-10) of the assessed val
uation Of the property within said mu-
drainage or sewerage district. as shown
by the last assessment made prior Ia
the submission of the proposition tn
the property taxpayers. as above pro-
property taxpayers voting at said elee-
tion,to levy and assess special tayes
upon the property subject to taxation
in the parish. school. sewerage or
vided. said taxes SO imposed do not
exceed five (5) mills on the dollar of =
the assessed valuation in any one ny
year. nor run for greater number Of
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 (so)
as aforesaid. nor for greater amount
than therein mentioned; nor shall sBcb
bonds be issued for any purpose than
for paving and improving streets,
ssaSe,n apd aeys pure9asng or CON
sewerage, drainage, lights public parks
and buildings, bridges and other works z
Of public Improvement, the title to
wHicn shaAA vest IN the municipal cor
poration. parish, school, sewerage ar
drainage districts, as the case NAV he.
nor shall such bonds run for a lonear
period than forty (4O) years from their
GATE. or bear greater rate of interest
than five (5) per cent per annum. or ha
sold by the municipal corporation, par
ish. school, drainage or sewerage dis
trict issuing same for less than par.
me municipal corporation, parish
issuing such bonds shall provide far
the payment of the interest annuaIlv
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 IOp per cent of the as
sessed value of the property in such
| municipality. parish school, sewerage
or drainage district Provided thai
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 ali
drainage districts established under the
! laws of this State shall, in addition ~
the powers hereinabove granted. have
| the further power and authority ~
levy and assess annuai contributions or
acreage taxes, for the purpose of pro-
| vtdfng and maintaining drainage svs.
TENS, on all lands situated in such dis
! tr1ct not exceeding twenty-five (25c1
| cents per acre for a period not to ey
coed forty (4O) years when authorized
| to do so by vote of a majority in
number and amount of the property tax ~.
payers of said district qualified as cleo.
tors under the laws of this State. yot.
Ing at an election held for that purpose
as asp provided IN the first part Of this ar
through the Boards of Commissioners
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 Nv
said annual contributions during the
period for which the same are levied
No such drainage bonds shall be issued
which said contributions were voted
and shall not run for longer period
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 a vote of a
majority in number and amount of the
property tax payers, qualified to vote
under the laws of this State at cleo
lions held in drainage districts organ
ized 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
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
: shown in. the first paragraph of this
as Refund Issue Bonds of political
Subdivision) in the year -" Said
, Refund Issue Bonds shall run for a PEI
Rod Of forty (4o) years from their date,
. shall not bear greater rate of inter-
i. est than five go 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, for less than par.
The said Refund Issue Bonds may be
!, either In whole or in part cxchanged
\ for 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
q said bonds. shall not occur to cover tbs
same issue or issues at frequenter in
tervals than five (5) years; and each
: cleo ton shall not only cover any or al
9 unrefunded bond Issues authorized By
I and issued In pursuance of the frs
: paragraph of this article. but may alst
: include any or all previous refund is
] sues. And when the bonds of any issnt
] shall have been obtained either bs
Q purchase or exchange. the tax rate lev,
led to pay for said bonds shall at once
cease and said bonds be cancelled Mon
Q eys accumulated to the credit of an,
bond issue that Is exchanged for, d
1 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.
Section 2. Be 1t further resolved, etc.
That this proposed amendment shall b.
submitted to the qualified voters o
the State for adoption or rejection a
the presidential and congressional cleo
ton to be held in November. Nineteei
Hundred and Eight 190S), If adopted
the same shall take effect immediatel.
4 thereafter.
/. Section 8. Be 1t further resolved. etc
n That on the official ballots to be use'
;. at said election, there shall be place.
!. ment to Article Two Hundred AM
!. Eighty-one t2SD of the Constitution
OF Louisiana" and the words: "Agains
a the proposed amendment to Article Tw,
"a hundred and Eighty-one (2S1) of tn
"a Constitution Of the State Of Louisiana,
- and each electOr shall Indicate as pro
Il vided In the general election laws 20
- the State. which of the propositions
3. Tor or against" he votes.
- H. G. DUPRE,
q speaker OF the House of Representative
ii p. NJ LAMBREMONT.
"a Lieutenant Governor and President o
II the Senate
n Approved July Q. 1908.
J. Y. SANDERS.
"a Governor of the State of Louisiana
!. A true copy. JOHN T. MICHEL,