St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-10-03

s..,or Re It resolved by tine General AA
.arn,,Ig NJ the State Of Louisiana, two-third&
ON of all the members elected TO each Hous@
eoneurring That Article Two hundred and
Is;ah+rone t2S1) of the Constitution OF the
S.s+a Of louisiana be SO amended as to read
Arffcle 2s1 Municipal corporation. parishes,
school drainage or sewerage dlstTlcts the City
- w, orleans excepted, when authorized to
do So by a vote of majority In number and
amount of the property taxpayers quaiihed
o. electors under the Constitution ana laws
of this state voting at an election held for
that 1nurpose after due notice OF said eles-
ton has been published for thirty tSol days
in the official journal OF tne nuhIeipaiity or
narisb and where there is no of1eial jour-
nal In newspaper published therein, may
incur debt and issue negotiable bonds there
for to the extent OF one-tehth kI-4ol OF the
assessed valuation of the properly Wltnln said
,,nnicinaI corpora ton. parish, school, or drain
age or sewerage district, as SHOWN Dy the last
assessment made prior TO the SUBMISSION OF The
proposition to the property taxpayers as above
p.orfdod and NAV be authorized by the prop
ertv taxpayers voting at said election to levy
ond-assess special taxes upon the properly sub
iect to taxation in the parish school sewerage
ar drainage district or corporation; provided,
oaid taxes so imposed do not exceed hVe l5l
mills on the dollar of the assessed valuation
in any one ~ year, nor run ZOE greater
nnvber of wears than the number named in
+be proposftion submitted to the taxpayers
No bonds shall be issued for any other pur-
pose than stated in the submission OF the prop
|
tbtr+y DAYS (3O) as aforesaid, nor for greater
amonnt than therein mentioned nor shall such
| bonds be issued for any purpose than FOR paving
| and improving streets, roads anu aAeSs' Dram.
age lights, public parks and buildings bridges
\ and other works of public Improvement the
title to which shall vest In the muhlcpal cor
| poratino parish, school sewerage or drainage
| districts, as the case may De' nor shall sutt
| bonds run for longer period than forty tAtS
| years from their date, or bear greater rate Of
| interest than five 90 per cent per annam, or
/ mi M mr. rfG
| school drainage oil" sewerage district issuing
| same for less than par
| Tbe municiDal corporation, parish, school,
| sewerage or drainage district issuing such bonds
| shall provide for the payment OF the interest
| annually or semi-annually. and the principal
thereof at maturity; provided that the total
| issue of bonds by any munlcipany' parish
| school, sewerage drainage district, Tor all
| nurposes shall never exceed ten (lO) per cent
| of the assessed value of the property in such
| municipality, parish, school, sewerage or drain
| age district Provided that municipal coun-
| oils shall have authority to create within their
| respective limits more sewerage districtss
! 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-
| Iisbed under the laws Of this State shall, in
| addition to the powers hereinaboye 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, on all lands situat-
| cd in such districts not exceeding twenty-five
| f25c) cents per acre for period not to exceed
| forty (40) years when authorized to do so by
vote of majority in number ana amount
of the property tax payers or SAID district
| qualified as electors under the laws of this
state. voting at election held for that pur-
| pose 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 ont 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 run for longer period than forty
(4o) years from their date, NOR bear greater
/ rate of interest than five per cent per anuum,
nor be sold for less than par
All contributions and acreage taxes hereto
fore authorized by vote of majority in
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 rati-
fed and confirmed and their validity snail
not be questioned.
Provided that for the purpose of reducing
the total gste of special taxation, municipal
corporations, parishes and school. sewerage or
drainage districts, when authorized to do SO 40
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 new bonds co be known y
| Refund Issue Bonds or (P0l1f1eaA SuDutVlSl0ny
in the year - Said Refund Issue Bonds
shall run for period of forty (40) years from
their date, shall not bear greater rate OF
interest than Ave t5l per cent per annum, paya-
BILE 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 either
in whole In part exchanged for the bonds
previously issued under or by authority Of this
J article. Value for value, sold and the pro-
ceeds thereof used for the purpose Of purchasing
! outstanding bonds Said elections, II favora
l BILE to the issuance IF said bonds shall not
occur to cover the same issuH issues at fire.
. quenter Intervals than Eve (E} years; and each
election shall not only cover any or all nnre-
! funded bond issues authorized by and issued in
, pursuance of the first paragraph Of this article
but may also include any or al previous refund
! issues. And when the bonds of any issue shaD
! have been obtained either bg 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 puT.
chased by the proceeds of the sale Of, any
refund bond Issue shall be csedited to the said
refund issue and made part Of its sinking fund.
Section 2. Be 1t further resolved ct Tn
this proposed amendment shall be submitted to
/ 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 (19DSl- If adopted the
same shall take effect Immediately. thereafter.
Section s. Be it further resolved etc. That
on the Official ballots to be used at said elec.
ton there shall be placed the words: ''For the
proposed amendment to Article Two Hundred
and Eighty-one (2S1) OF the Constitution OF
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, as provided in the general election laws
of the State, which Of the propositions for OF
against he votes.
H. @. DUPRE,
Speaker of the House of Representatives,
p. NJ LAMBREMoNT!
Lieutenant Governor and President OF the
Senate. Approved July o. 1908.
]. Y. SANDERS.
: Governor Of the State Of Louisiana.
. true copy
i JOHN r. MICHEL
: Secretary of State.