The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1908-09-12
ACT. No. 200.


ACT No. 800.
House Bill No. $40. BY Mr.. Smith
JOINT RESOLUTION
Proposing an amendment to arti-
Gle Two Hundred and Eighty-one
(2SD of the Constitution of the State
of Louisiana, relative to the issuance
of bonds for work OF public improve.
ment by municipal corporations, par
ishes and drainage districts. and the
assessment of special taxes to pay for
same.
Section 1. Be it resolved by the
General Assembly of the State Of
Louisiana. two-thirds (2-3) Of all
the members elected to each House
concurring, That Article Two Hun
dred and Eighty-one (2S1) of the
Constitution of the State of Louisi-
ana, be so amended as to read %
follows:
Article 2S1. Municipal corpora
ton, parishes, schools, drainage or
sewerage districts of the City of New
Orleans excepted, when authorized
to do so, by vote of majority in
number and amount of the
property taxpayers. qualified as
electors under the Constitution and
laws of this State voting at an cleo
ton held for that purpose, after due
notice of said election has been pub
lished for thirty 500 days in the
official journal of the municipality or
parish. and where there is no ON
cial journal, in a newspaper publ
shed therein, may incur debt. and
issue negotiable bonds therefor, to
the extent of one-tenth 1-10) OF
the assessed valuation of the prop
erty within said municipal corpora
ton, parish, school, or drainage or
sewerage district, as shown by tho
assessment made prior to the sub
mission of the proposition to the
property tax payers, as above provid-
ed, and may be authorized BY the
property taxpayers voting at sara
election, to levy and assess speciaI
takes upon the property subject 70
taxation in the parish. school sewer
age or drainage district or corpora
ton; provided, said taxes so i'm
posed do not exceed five 90 mills
on the dollar of the assessed vaiua-
ton in any one o. year, nor run
for a greater number of years tnan
the number named in the PROPOSE
ton submitted to the taxpayers.
No bonds shall be issued for any
other purpose than stated in the SUD
mission of the proposition to the tax
payers, and published for thirty
days 900 as aforesaid, nor for .
greater amount than therein men
toned; nor shall such bonds be ls-
sued for any purpose than for paw.
ing and improving streets, roads anu
alleys. purchasing or CONSTRUCTING
systems of water-wOrks, sewerage:
drainage lights, public parks ana
buildings, bridges and other WORKS
of public improvements. the title 70
which shall vest in the municipal cor
poration, parish, school sewerage OF
drainage district as the case may De'
nor shall such bonds run lOr lon-
ger period than forty (40) years
from their date, or bear greater
rate of interest than five (5) per
cent per annum, or be sold by ING
corporation, parish, scnooI
1rainage or sewerage district lssulns
same for less than par.
The municipal corporation, pa fisn,
school, sewerage or drainage d1senc.
ssuing such bonds shall provide1 IoI
he payment of the interest annu1y:
= semi-annually. and the princ1pu
hereof at maturity; provided; Pr
he total issue Oh bonds by any mtP pr
,ipality, parish, school, seweraga y
lrainage district. for all purpo ~
hall never exceed ten Cooper
If the assessed value of the 49,
'rty in such municipality, PAL n.
chOol, sewerage or drainage dist ~
Provided that municipal cou
hall have authority to create 81
q their respective limits one or