St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-10-10

Section !. Be 1t resolved By the General 40
somnlv of the State of Louisiana twothfrda
10 "a af all the members elected to each HOUSE,
concurring That Article Two Hundred and
Eigbty-one (2S1) OF the Constitution Of tha
state of Louisiana, be so amended as to read
Article 2s1 Municipal corporation, parishes,
school, drainage or sewerage districts the City
of New Orleans excepted, when authorized Il
do So by vote of a majority In number and
amount of the property taxpayers, Quali6sd
as electors under the Constitution and lava
of this state, voting at an election held for
that purpose, after due notice OF said edec-
tion has been published for thirty 1901 days
In the official Journal Of the municipality or
parish, and where there is no Official jour
nal In a newspaper puohshed thefeln, may
incur debt and issue negotiable bonds there
for to the extent of One-tenth (l-l0) of the
assessed valuation of the property within said
municipal corporation, parish, school, or drain
age or sewerage district, as shown by the last
Assessment made prior 70 the submission of tbs
proposition to the property taxpayers as above
proyided and may be authorized by the prop
erty taxpayers voting at said election, to levy
and assess special taxes upon the property sub.
tect I'd taxation In the parish school, sewerage
or drainage district corporatton provided,
said taxes SO imposed do not exceed five f5)
mills on the dollar of the assessed valuation
in any one ~ year, nor run for greater
number of years than the number named in
the proposition submitted to the taxpayers.
No bonds shall be issued Tor any otner pur-
nose than stated in the submission of the prop
osition to the taxpayers, and published for
thirty days 800, as aforesaid, nor for greater
amount than therein mentioned; nor snail such
bonds be issued for any purpose tnan Tor paving
and improving streets, roads and alleys, drain
age lights, public parks ana Dulldlngs prldges
and other works of public improvement. tne
title to which shall vest In the muniapal cor
peratiuo parish. school sewerage or dra1nag9
districts as the may be; nor shall suci
bonds run for a longer period than forty (4O
years from their date, or bear greater rate Of
K arf nAF mr.
he sold by the municipal corporation parish,
school drainage sewerage district Issuing
same for less than par
The municipal corporation, parish, school,
sewerage or drainage district Issuing such bonds
shall provide for the payment OF the interest
annually, or sem-annually, and the principal
thereof at maturity; provided, that the total
issue of bonds by any municipality, parish
school, sewerage or drainage district, for all
purposes shall never exceed ten t1O1 per cent
OF the assessed value of the property in such
municipalfty parish school, sewerage or drain
age district Provided that municipal coun-
els shall have authority to create within their
respective limits or more sewerage distrlcts;
and provided further that nothing herein con
tanned shall prevent drainage districts from
being established under the provisions of exist
ing laws, and that all drainage districts estab-
lished under the laws Of this State shall, In
| addition to the powers nereinabove granted
have the further power and authority to levy
| and assess annual contributions or acreage
! taxes for the purpose Of providing and main
| tanning drainage SYSTEMS, Oh dAA AaHub nAANGl-
| ed in such districts not exceeding twenty-five
| (25c) cents per acre for period not TO exceed
| forty (40) years when authorized to do SO By
| vote of majority In number and amount
| of the property tax payers OF said district
| qualified as electors under the laws of this
| State voting Mt election held for that pur-
pose as provided in the first part OF this ar
| ticle, and said drainage district. through the
| boards of Commissioners thereof, may incur
| indebtedness and issue negotiable bonds there
| for payable IN principal and interest out OF.
| and not to exceed in principal and interest.
the aggregate amount to be raised by said
annual contributions during the period for which
| the same are levied. No such drainage bonds
| shall he issued for any other purpose than that
| for which said contributions were voted and
4 shall not for longer period than forty
| (40) years from their date, nor bear creates
rate OF interest than five per cent. per annum.
nor be sold for less than par.
All contributions and acreage taxes hereto
/ fore authorized by vote of q majority 10
number and amount of the property tax pay
4 ers, qualified to vote under the laws OF this
| state at elections held in drainage districta
| organized under existing laws are hereby rati-
| fed and confirmed, and their validity shall
| not be questioned"
| Provided that for the purpose of reducing
| the total rate of special taxation municipal
corpora lions, parishes and school. sewerage or
| drainage districts, when authorized TO do so
| above shown for by the issuance OF bonds. mas
| issue new bonds covering any particular issue
/ or issues of bonds the whole outstanding
| bonded Indebtedness incurred under, and for the
/
| article, the said bonds to be known Is
/ Refund Issue Bonds of political Subdivision9
| in the year - Said Refund Issue Bonds
| shall for a period of forty t40l years from
| their date shall not bear a greater rate Of
| interest than five (5) per cent per annum, PAYS
bic annually or semi-annually, the ordinance
| calling fer the election may direct. and shall
not be sold by che municipal corporation, parish.
| school, sewerage or drainage district Issuing
| same, for less than par.
The said Refund Issue Bonds may be either
| IT, vyJ,aNo in Al xha aHr
| previously issued under or by authority Of this
| article. Value for value, or sold and the pro-
ceeds thereof used for the purpose Of purchasing
| outstanding bonds. Said elections IL fav0ra.
| BILE to the issuance nf said bonds. shall NIT
| occur to cover the same issue Issues at fire.
| quenteF Intervals than five ~ years; and each
| election shall not only cover any all nnre-
| funded bond issues authorized by and issued IN
pursuance of the first paragraph Of this article.
| but may also include any all previous refund
| issues. And when the bonds Of any issue shah
| have been obtained either by purchase or ex
| change the tax rate levied to pay for said
bonds shall at and said bonds be
Cancelled. Money accumulated TO the credit Of
any bond Issue that is exchanged for, or pur.
chased by the proceeds OF the sale Of aHy
| refund bond issue shall be credited to the said
/ refund Issue and made part of its sinking fund
| Section 2. Be 1t further resolved. etr. N
this proposed amendment shall be submitted "a
! the qualified voters of the State for adoptioA
| OF rejection at the presidential and congress
sional election to be held In November, Nine
| same shall take effect Immediately. thereafter
Section 8. BE 1t further resolved. etc. That
on tine official ballots to be used at said cleo.
tion, there shall be placed the words: "For tha
| proposed amendment to Article Two Hundred
and Eighty-one (2s1) OF the Constitution Of
Louisiana" and the words: against the pro.
posed amendment to Article Two Hundred and
Eighty-one t2Sf) of the Constitution, Of the
| State of Louisiana" and each elector shall in
dicate as provided in the general election laws
OF the State, which of the propositions for on
against he votes.
4 Fl. 6. DuPRE
Speaker of the House Of Represented iges.
P. NJ. LAMBREMoNT.
Lieutenant Governor and President Of the
Senate. Approved July 0. 1908.
J. Y. SANDERS.
Governor of the state Of Louisiana.
true copy
| JOHN r MICHEL