The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1908-09-19


Secretary of State.
ACT No. 300.
House Bill No. $40 BY Mr.. Smith
JOINT RESOLUTION
Proposing an amendment to ard
Gle Two Hundred and Eightypn
(2SD of the Constitution Of the STAT
of Louisiana, relative to the issuanc
of bonds for work OF public improve
ment by municipal corporations. pr
ishes and drainage districts, lad hi
assessment of special taxes to pay I'd
same.
Section /. Be it resolved by III
General Assembly of the State
Louisiana. two-thirds (2-3) Of
the members elected to each Hour
concurring, That Article Two Hun
dred and Eighty-one esd Of III
Constitution of the State Of Louia
ana, be so amended as to read Z
follows:
Article 2S1. Municipal ccrpote
ton, parishes, schools, drainage q
sewerage districts of the Cityof Nas
Orleans excepted, when authorise
to do so, by a vote of a majority =
number and amount OF u
property taxpayers. qualified Z
electors under the Constitution q
laws of this State voting at an eel
ton held for that purpose, after 9!
notice of said election has been pttj
lished for thirty (3O) days u q
official journal of the municipality
parish, and where there ID no "a
cial journal, in a newspaper pun
shed therein, may incur debt, q
issue negotiable bonds therefor,
the extent of one-tenth u-l0l
the assessed valuation Of the pm
erty within said municipal corpof
ton, parish, school, or drainaee
sewerage district, as shown BY
assessment made prior to the
mission of the proposition to
property tax payers, as above prov
ed, and may be authorized Dy
property taxpayers voting Al
election, to levy and assess 81
takes upon the property suDlecl
taxation in the parish. school seS
age or drainage district or c0fpcs|
ton; provided, said taxes 80
posed do not exceed five 90 m
on the dollar of the assessed Mu
ton in any one Cd year, nor
for a greater number Of years -
the number named in the prop
ton submitted to the taxpayers p
No bonds shall be issued lor n
other purpose than stated In the -
mission of the proposition to the
payers, and published for lais
days (3O,) as aforesaid, nor 'lM
greater amount than therein NJ
toned; nor shall such bonds g
sued for any purpose than TOT ~
ing and improving streets, roam
alleys, purchasing or constI.o
systems of water-wOrks, sewe'.s
drainage lights, public parD
buildings, bridges and other ~, ~
Of public improvements, the uu. y
which shall vest in the municip1
poration, parish, school severn
drainage district as the case msy ~
nor shall such bonds run lot ~
ger period than forty (4e) ~
from their date, or bear
rate of interest than five ~ Is
cent per annum, or be sold " I
corporation, parish s
drainage or sewerage district Vs.
same for less than par. -
The municipal corporation
school. sewerage or drainage or.
issuing such bonds shall provIos
the payment of the interest anns
g semi-annually, and the PITY
thereof at maturity; provided. n
the total issue OF bonds by any
cipality, parish. school, severn
drainage district, for all puIY
shall never exceed ten 10lpc. ~
of the assessed value OF the ~
erty in such municipality, I.si1I
school, sewerage or drainage 49,
Provided that municipal 49,
shall have authority to cres.s
In their respective limits one =