The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-09-10

olIiciai journal OF the municipality or
parish. and where there is no officia,
Journal. in newspaper published
may incur debt and issue ne
gotiable bonds therefor, to the extent
of one-tenth u-10) of the assessed val.
uation of the property within said mn
nicipal corporation. parish school ~
drainage or sewerage district us shown
by the last assessment made prior tn
the submission of the proposition ~
the property taxpayers as above nra'
vided and may be authorized pI bv pro- no.
property taxpayers voting at said cleo
tion.to levy and assess special tayas
upon the property subject to taxation
in the parish. school, sewerage or
drainage district or corporation. nro
vided. said taxes so imposed do M,
exceed five t5) mills on the dollar ~
the assessed valuation in any one RI
year, nor run for greater number Of
years than the number named In tia
submitted to the taxpavers
No bonds shall be issued for any oth.
er purpose than stated in the submis.
sion of the proposition to the taxnay.
ers' and published for thirty days ts0)
as aforesaid. nor for a greater amnnn,
than therein mentioned; nor shall such
bonds be issued for any purpose than
Tor paying and improving streets
roads and alleys. purchasing or con.
structing Systems of water-worLs
sewerage. drainage. lights. public parls
ana buildings. bridges and other works
OF public Improvement the title 10
which shall vest in the municinnl oos
poratlon' parish. school, sewerage or
drainage districts. as the case may hs.
nor shall such bonds run for a lonoa,
period than forty (40) years from thetr
GATE. or bear greater rate of interast
imam I'VE (o) per cent per annum. or ha
soid by the municipal corporation. mar.
lsh. school, drainage or Sewerage a.
trict issuing same for less than mar
Inc municipal corporation. parish
school sewerage or drainage district
issuing such bonds shall provide for
the payment of the interest ANIMATE
or annually. and the prinninss;
thereof at maturity; provided. thai tha
total issue of bonds by any municinaii
". parish, school, sewerage or drain
age district, for all purposes. shall na,,
er exceed ten IO) per cent of the AZ
sessed value of the property in snch
municipality. parish, school, seweraea
or drainage district. Provided tbat
municipal councils shall have uutboria'.
to create within their respectiva iin,i.ys
one or more sewerage districts. an5s
provided further. that nothing herain1
contained shall prevent Drainage die
trlcts from being established under the}
provisions OF existing laws and that all
drainage districts established under thay
laws OF this State shall in addit;n, ~
the powers hereinabove granted h,,ou
the turther power and authority r.
levy a ana assess annuai contributions or
acreage taxes, for the purpose Of nro
yfdlnS and maintaining drainapa s,,o
TENS, on all lands situated in sueh die
trlct not exceeding twenty-fiye to5a1 !,
cents per acre for period not to ex.
coed forty (4O) years when autbnrisa,
TO do so by vote of majority ~
number and amount of the proDertv tn
payers of said district qualified as elacN
tors under the laws of this State. vot-
ing az an election held for that purpose
as provided In the first part of this ar
ticle, and said drainage districts
through the Boards of Commissioner
thereof. may incur indebtedness and is
sue negotiable bonds therefor payable
IN principal and interest out of. ana
not to exceed in principal and INTEREST
the aggregate amount to be raised h.
said annual contributions during the
period for which the same are levied
10 no suen drainage bonds shall be issued
Tor any other purpose than that for
which said contributions were voted
and shall not run for longer ne-iod
than forty (40) 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 taxaa
heretofore authorized by a vote of
majority In number and amount OF the
property tax payers. qualified to yota
under the laws of this state Mt cleo
lions held in drainage districts organ
lzed under existing laws are hereby
ratified and confirmed. and their va.
lfdity 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
ticular 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 new bonds to be known
n IN vr6
Subdivision) in the year -" Said
refund Issue Bonds shall run for PEE
Rod OF forty (40) years from their date.
snail not bear greater rate of inter-
est than five 90 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
tlther IN whole or in part exchanged
Tor the bonds previously issued under
pr by authority of this article Value
ior value, or sold and the proceeds
tnereot used for the purpose of pur-
chasing outstanding bonds. Said cleo
lions. II favorable to the issuance Of
said bonds. shall not occur to cover the
same issue or issues at frequenter in
election shall not only cover any or all
unrefunded bond issues authorized by
ana issued In pursuance of the first
paragraph OF this article, but may also
include any or all previous refund is
sues And when the bonds Of any issue
snail have been obtained either by
purchase OF exchange, the tax rate lew
led to pay for said bonds shall at once
cease and said bonds be Cancelled. Mon
eys accumulated to the credit of any
bond issue that Is exchanged for OF
purchased by the proceeds Of the sale
OF. any refund bond issue shall be cred
tied to the said refund issue and made
part OF It's sinking fund.
Section 2. Be 1T further resolved etc.
Ihat this proposed amendment shall be
submitted to the qualified voters OF
me State for adoption or rejection at
the presidential and congressional cleo
ton to be held In November Nineteen
Hundred and Eight I90s). Ii adopted
the same shall take effect Immediately
thereafter.
Section 3. Be 1t further resolved. etc.
Ihat on the official ballots to be used
at said election. there shall be placed
the words: For the proposed amend
ment to Article Two Hundred and
Eighty-one t2SD Of the Constitution
or Louisiana and the words: Against
the proposed amendment to Article Two
Hundred and Eighty-one (2S1) Of the
CONSTITUTION OF the State of Louisiana"
ana each clectOr shall Indicate. as pro-
vfded in the general election laws OF
the state. which Of the propositions
for or against" he votes,
Fl. G. DTPRE.
Speaker OF the House Of Representatives
p. M. LAMBREMONT,
Lieutenant Governor and President Of
the Senate.
Approved July 9, 1908.
j. Y. SANDERS.
Governor of the State of Louisiana
A true copy JOHN T. MICHEL.
Secretary OF State.
Homestead Entry No. 01GJ.