St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-09-12

Section l. Be it resolved by the General As
senbly Of the State of Louisiana, two-thirds
(2-3) of all the members elected to each House
coneurring That Article Two Hundred and
Eighty-one (2S1) of the Constitution Of the
state OF Louisiana, be so amended as to reau
follows:
Article 2s1 Municipal corporation, parishes,
school drainage or sewerage districts the City
of New Orleans excepted when authorized to
do so, by vote Of majority in number and
amount of the property tazpayefs, qualihed
as electors under the Constitution and laws
of this State, voting at an election held for
that purpose, after due notice of said cleo
tion has been published for thirty 1907 days
In the official journal Of the municipality or.
parish, and where there is no official jour
nal, In newspaper published therein, may
incur debt, and issue negotiable bonds there
for. to the extent Of one-tenth (1-1Ol of the
assessed valuation of the property within said
municipal corporation, parish, school, or drain
age sewerage district, shown by the last
assessment made prior TO the submission of the
proposition to the property taxpayers, as above
provided and may be authorized by the prop
erty taxpayers voting at said election, TO levy
and assess special taxes upon the property sub
jeet to taxation in the parish school, sewerage
drainage district corporation; provided.
said taxes imposed do not exceed hge t5l
mills on the dollar Of the assessed valuation
In any one a. year. nor run for greater
number of years than the number named In
the proposition submitted to the taxpayers
No bonds shall be issued for any other pur-
pose than stated in the submission of the prop
thirty days (3ol, aforesaid, nor for greater
amount than therein mentioned; nor shall such
bonds be issued for any purpose than for paving
and improving streets roads and alleys, drain
age, lights, public parks and buildings bridges
and other works of public improvement, the
title to which shall vest in the municipal cor
poratino, parish, school sewerage drainage
districts the case may be; nor shall such
bonds run for longer period than forty (A0)
years from their date, or bear greater rate Of
| interest than Ave (5l per cent per annum' or
1 ,oll Nv Ahofr fufr frH1
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, semi annually. and the principal
| thereof at maturity; provided. that the total
| issue of bonds by any municipality. parish
| school, sewerage drainage district, for all
| purposes, shall never exceed ten (l0l per cent
| of the assessed value Of the property In such
| municipality, parish. school, sewerage or drain
age district Provided that municipal coun-
| ellis shall have authority to create within their
respective limits one or more sewerage districts;
| 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 hereinabove 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, all lands Situat-
| ed in such districts not exceeding twenty-five
| (25c) cents per acre for period not to exceed
| forty (40) years when authorized to do 30 by
| a vote of q majority in number and amount
| of the property tax payers of said district
| qualified as electors under the laws of this
| State. voting at an election held for that pur-
| nose as provided in the first part of this az
| 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 be issued for any other purpose than that
| for which said contributions were voted and
| shall not for a longer period than forty
! (4Ol years from their date, nor bear greater
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 majority 10
ers, qualified to vote under the laws OF this
State at elections held in drainage districts
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
corporations parishes and school, sewerage or
drainage districts. when authorized to do so as
above shown for by the issuance of bonds, mas
issue new bonds covering any particular issue
or issues OF bonds, or the whole outstanding
bonded Indebtedness incurred under and for the
purpose shown In the first paragraph Of this
article, the said bonds TO be known "a
]
in the year - Said Refund Issue Blonde
shall run for period of forty (40) years from
their date, shall not bear greater rate of
interest than five 90 per cent per annum, payR-
J BILE annually or semi-annually the ordinance
| calling for the election may direct, and shall
not be sold by the municipal corporation parish.
school, sewerage drainage district issuing
same for less than par.
J The said Refund Issue Bonds may be either
in whole in part exchanged for the bonds
: previously issued under by authority of this
) | tioIn Ua1u for oil n
ceedS thereof used for the purpose of purchasing
! outstanding bonds Said elections. If faVora
Bile to the issuance of said bonds shall mot
occur to cover the same issue or issues at ire
quenter intervals than Ave (5) years; and each
election shall not only cover any or all unre-
! funded bond issues authorized by and issued in
pursuance of the first paragraph Of this article,
but may also include any or all previous refund
r issues. And when the bonds Of any issue shah
J have been obtained either by purchase or ex-
change the tax rate levied to pay for said
bonds shall at once cease 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, any
refund bond Issue shall be credited to the said
e refund Issue and made part of its sinking fund.
Section .. Be it further resolved. ETC.. Nh
this proposed amendment shall be submitted to
D the qualified voters of the State for adoption
or rejection at the presidential and congress
!, sional election to be held in November, Nine
teen Hundred and Eight (190sl. If adopted, the
same shall take effect Immediately, thereafter.
Section 8. Be it further resolved etc. That
on the official ballots to be used at said cleo
tion there shall be placed the words; For the
+ proposed amendment to Article Two Hundred
and Eighty-one t2S1) Of the Constitution of
u Louisiana" and the words: Against the pro-
posed amendment to Article Two Hundred and
= Eighty-one (2S1) of the Constitution of the
State of Louisiana" and each elector shall In
" dictate, provided in the general election laws
of the State which Of the propositions for Oh
against" he votes.
H. @. DUPRE.
# Speaker of the House of Representatives
: p nj. LAMBREdONT.
+ Lieutenant Governor AND President Of the
Senate. Approved July o. 1908.
d ]. Y. SANDERS.
!; Governor of the State of Louisiana
true copy.
!, JOHN T MICHEL,