The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-10-01

official journal of the municipalitv -
parish. and where there is no official
therein. may incur debt. and issue me-
gOtiable bonds therefor, to the extan.
of One-tenth u-10) Of the assessed val
uation OF the property within said mn
drainage or sewerage district, as shown
by the last assessment made prior ~
the submission of the proposition ~
tho property taxpayers. as above prns
property taxpayers voting at said elees
tiOn.to levy and assess special taxas
upon the property subject to taxatinn
in the parish, school, sewerage Or
drainage district or corporation; pro-
exceed five (5) mills on the dollar ~
the assessed valuation in any one ~
year, nor run for a greater number II
years than the number named in the
proposition submitted to the taxpayers
No bonds shall be issued for any ON.
er purpose than stated in the subnis.
sion of the proposition to the taxnav.
ers, and published for thirty days f3o,
as aforesaid. nor for a greater amount
bonds be issued for any purpose thar
Tor paying and improving streets .
roads and alleys. purchasing or con.
structing systems" of water-works
and buildings. bridges and other worEs
OF public improvement the title -
which shall vest in the municinaI CO..
Poration, parish. school. sewerage Or
nor shall such bonds run for a lonse so.
period than forty (4O) years from their
date, or bear a greater rate of interss,
than five go per cent per annum, or Ia
500 . Dy the municipal corporation, par
Ism. school, drainage or sewerage ale
trict 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 annuaiIr
or semt-annually. and the princina,,
thereof at maturity; provided that tbs
total issue of bonds by any munieinsm
ty. parish. school. sewerage or drain
age district, for all purposes, shall NV
er exceed ten u0) per cent of the az
sessed value of the property in such
municipality. parish school, Sewerage
or drainage district. Provided that
municipal councils shall have AUTHORITY
to create within their respective limit.
one or more sewerage districts: ana
provided further. that nothing barai,
contained shall prevent drainage disI
tricts from being established under the
provisions of existing laws. and that ali
drainage districts established under tn
laws of this State SHALL in addition ~
the powers hereinabove granted how
the further power and authority IN
aevy ana assess annuai contributions or
acreage taxes, for the purpose of nro.
viding and maintaining drainage svs-
TENS. on all lands situated in such d.
trict not exceeding twenty-five fS5cl
cents per acre for period not to ex-
coed forty (4O) years when author,sas
to do SO by vote of a majority i 4,
number and amount Of the property tar
payers of said district qualified as elec.
tors under the laws of this State, yof-s
| ing at an election held for that purpose
as provided In the first part of this ar.
| ticle. and said drainage districts
| through the Boards of Commissioners
thereof. may incur Indebtedness and ia
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 nv
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 run for a longer perind
than forty (A0) 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
heretofore authorized by a vote Of 4
majority in number and amount of the
property tax payers, qualified to vota
under the laws of this State at cleo.
lions held in drainage districts organ-
lied under existing laws are hereby
ratified and confirmed. and their va
| lidity 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
DDfr r..
Subdivision) In the year --.'' Said
Refund Issue Bonds shall run for a PEI
Rod Of forty (40) years from their date.
snail not bear greater rate of inter-
est than five 90 per cent per annum.
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
either In whole or in part exchanged
Tor the bonds previously issued under
or by authority of this article. Value
for value, or sold and the proceeds
thereof 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
tervals than five CD years; and each
election shall not only cover any or all
unrefunded bond issues authorized by
and issued in pursuance of the first
paragraph of this article, but may also
include any or all previous refund Isl
sues. And when the bonds of any issue
shall! have been obtained either by
purchase or exchange, the tax rate lav-
led to pay for said bonds shall at onca
cease and said bonds be Cancelled. Mon
eys accumulated to the credit of any
bond issue that Ia exchanged fer, OF
purchased by the proceeds of the sala
OF. any refund bond issue shall be cred
tied to the said refund issue and made
part OF Its sinking fund.
section 2. Be 1t further resolved. etc-
That this proposed amendment shall be
submitted to The qualified voters OF
the State for adoption or rejection al
the presidential and congressional elec-
tion to be held In November. Nineteen
Hundred and Eight 190S). if 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
tne WORDS: For the proposed amend.
Eighty-one t2S1) of the Constitution
OF Louisiana" and the words: "Against
, the proposed amendment to Article Two
, hundred and Efghty-One (2S1) of the
, Constitution OF the State of louisiana
and each electOr shall indicate. as pro-
vided In the general election laws Of
! the State. which of the propositions
for or against" he votes.
II. G. DUPRE,
, speaker OF the House of Representative
P. M. LAMBREMONT.
, lieutenant Governor and President Of
! the Senate.
Approved July 9. 1908
]. Y. SANDERS.
, Governor of the State of Louisiana
A true cow John r. MICHEL