St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-10-24

HFuA -
ssembly OF the State &c Louisiana, two. tb,rs.
t2-3) Of all the members elected to each Ffa,,-
concurring, That Article Two Hundred san5
Eighty-one (2S1) Of the Constitution az +hs
state of Louisiana, be 50 amended as 10 read
as foflows
Article PSI. Municipal corporation. parishes
school. drainage sewerage districts fha fges
of New Orleans excepted, when authorized y
do so. by vote Of majority in number ana
amount of the property Taxpayers auati6esF
electors Under the Constitution ana fa,ys
of this State, voting at election heid IA
that purpose after due notice of said aJao
ton has been published for thirty (3Dl aa,
in the official journal of the municipaii NV ~
parish, and where there is no otfieial ias,s
nal, in newspaper published therein mav
incur debt, and issue negotiable bonds there
for. to the extent of one tenth g-l0Y VI tbs
assessed valuation of the property within sasa
municipal corporation, parish, school or drain
age or sewerage district, shown by this last
assessment made prior TO the submission of th@
proposition to the property taxpayers, as aBova
provided and may be authorized by the trons
erty taxpayers voting at said election Id levv
and assess special taxes upon the property snls
ject to taxation in the parish. school, ssweraee
or drainage district corporations; provided
said taxes so imposed do not exceed Ave m
mills on the dollar of the assessed yaiuatt1n.
in any a. year, run for a xleates
number of years than the number NJ ned 3n
the proposition submitted to the L. Aparera
No bonds shall be issued for any other pur
pose than stated IN the submission of the prou
0SlttOn To LnP taxpayers, ana published fay
thirty days (3o). as aforesaid, nor for greater
amount than therein mentioned; nor shall sncb5
bonds be issued for any purpose than for iayine
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
pcratIno. parish. school sewerage or drainag4
districts the case may be; nor shall SUI
bonds for a longer period than forty l4N
years from their date, or bear a greater tate N
interest than five 90 per cent per anntm 81
be sold by the municipal corporation, parish
school. drainage or sewerage district issuing
same for less than par.
The municipal corporation, parish school
sewerage drainage district Issuing such bonds
shall provide for the payment of the interest
annually or semi-annualy. and the priacipal
thereof at maturity; provided that the total
issue of bonds by any municipality, parish
school, sewerage drainage district, for ali
purposes shall never exceed ten (10l per cent
of the assessed value of the property in such
municipality. parish, school. sewerage or fraiH-
age district. Provided that municipal eoln
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 I'll
addition to the powers nereinaboVe granted.
have the further power and authority 70 levy
and assess annual contributions aereags
taxes for the purpose of providing and main.
tanning drainage systems, all iantia 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 50 BIZ
a vote of majority IN number and amount
of the property tax payers Of said district
qualified as electors under the laws OF this
State voting at election held for that pnrs
pose as provided In the first part of this a.
ticle. and said drainage district through the
Boards of Commissioners thereof. may incur
and issue negotiable bonds theirs
for payable IA principal ard 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 thai
for which said contributions were voted and
shall not for a longer period than forty
(4o) years from their date nor bear a GREATS
rate Of interest than five per cent. per annuan.
nor be sold for less than par.
All contributions and acreage taxes hereto.
fore authorized by vote of majority IL
number and amount of the property tax pay
ers. qualified to vote under the laws of this
State at elections held in drainage districts
organized under existing laws are hereby rafi.
fed and confirmed. and their validity shall
not be questioned"
Provided that for the purpose of reducing
the total gEte Of special taxation. municipai
parishes and school. sewerage or
drainage districts. when authorized to DO so ag
above shown for by the issuance OF bonds may
issue new bonds covering any particular issue
Or issues of bonds, 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
Refund Issue Bonds of political SubdiFfsicnJ
In the year -" Said Refund Issue Bonds
shah run for period of forty (4o) sears from
their date, shall not bear Il greater rate Of
Interest than five t5l per cent per anaum, payas
Bile annually or semi-anRually, as the ordinance
,alling 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.
The said Refund Issue Bonds may be either
n whole OK in part exchanged for the honda
previously issued under by authority of this
article. Value for value, or sold and the pro.
leeds thereof used for the purpose OF PURCHASING
bonds. Said elections IL fav0rac
Die to the issuance Of said bonds. shall nea
'ecur TO cover the same issue or issues at fSe.
luenter Intervals than five (5) years; ana each
Election shall not only cover any or ali nnFe.
unded bond issues authorized by and issued II
pursuance of the first paragraph Of this article
,ut may also Include any or all previous refund
ssues. And when the bonds Of any issue shall
lave been obtained either by purchase OF ex
mango, the tax rate levied to pay Tor said
'onds shall at once cease and sai6 bonds hs
ance1ed. Money accumulated to the credit ~
my bond Issue that is exchanged for or uus.
'hased by the proceeds of the sale OF any
efund bond issue shall be credited tn the aaid
efund Issue and made part Of its sinking fund
Section 2. Be it further resolved Ct il4
his proposed amendment shall be submitted 10
he qualified voters of the State for adoption
Y rejection at the presidential and congress.
ional election to be held in November Nine.
cen Hundred and Eight (190Sl. II adopted the
anne shall take effect Immediately thereafter
Section 3. Be It further resolved etc Thaf
N the official ballots to be used at said eiec.
lon, there shall be placed the words sFor tba
'roposed amendment to Article Two Hundred
nd Eighty lone (2S1) of the Constitution Of
4ouistana. and the words: Against the pro.
,osed amendment to Article Two Hundred ana
sighty-one (2S1l Of the Constitution Of tbs
tate Of Louisiana" and each elector sliall III.
icate, as provided in the general election laws
the State. which of the propoeIsions ssfo,s s. Is
against he votes.
H g. DUPRE.
Speaker Of the House Of Representatives.
P. NJ LAAfBREAf0NT
senate. Approved July o. 1908.
i. Y. SANDERS
Governor of the State Of Louisiane.