The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-10-29

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parish. and where there is no offie; ~
journal. in newspaper publisheS
therein. may incur debt, and issue na1
gottable bonds therefor, to the extent
of one-tenth u-10) of the assessed ya3.
uation of the property within said mn.
nicipal corporation. parish, school, ~
drainage or sewerage district as show
by the last assessment made prior 10 &
the submission of the proposition to
the property taxpayers. as above nros
vided and may be authorized bv p ths
property taxpayers voting at said elac. rs
tion.to levy and assess special taya.
upon the property subject to taxation
in the parish, school, sewerage or
drainage district or corporation; pr ..
vided. said taxes so imposed do no,
exceed five (5) mills on the dollar 81
the assessed valuation in any one az
year. nor run Tor a greater number OF
years than the number named in tha
proposition submitted to the taxpayers
No bonds shall be issued for any oth.
er purpose than stated in the submis.
sion of the proposition to the taxpav.
ers. and published for thirty days fs6Y
as aforesaid. nor for a greater amorn:.
than therein mentioned; nor shall snas
bonds be issued for any purpose thar
for paying and improving streets
s s9nnsf,n ana aiieys, purchasing or con-
sewerage, drainage, lights, public parry.
and buildings, bridges and other WORKS
Of public Improvement, the title ~
/Wh'cn Shall vest IN the municipal cor.
poration, parish, school, sewerage a.
drainage districts, as the case NAV he. n
nor shall such bonds run for a Ionpar
period than forty (40) years from tbair
date. or bear greater rate of Interest
than five (5) per cent per annum or he
sold by the municipal corporation. mar
1sh. school. drainage or sewerage dis.
trict issuing same for less than mar
The municipal corporation parish
scnool sewerage or drainage district
18SlnnR hnndS hn1
the payment of the interest annuaiIv
or semi-annually, and the prineinai
thereof at maturity: provided. that ~
total issue of bonds by any municipali.
ty. parish. school, sewerage or drain-
age district, for all purposes, shall new.
er exceed ten Q0) per cent of the as
sessed value of the property in snch
municipality. parish, school, Sewerage
or drainage district. Provided thot
municipal councils shall have authorifv
to create within their respective Limits
one or more sewerage districts: ana
provided further, that nothing herein
contained shall prevent drainage dis
tricts from being established under tha
provisions of existing laws and that. ali
drainage districts established under IN.
laws OF this State SHALL in addition ~
the powers hereinabove granted. havs
the further power and AUTHORITY ~
levy and assess annuai contributions ~
acreage taxes for the purpose of nro-s
viding and maintaining drainage svs.
TENS on all lands situated in such dis.
erict NOT exceeding twenty-five (25c)
cents per acre for period not to er
coed forty (4O) years when authorizes
10 90 so by vote of majority IN
number and amount OF the property tar
payers OF said district qualified as cleo
tors under the laws of this State. vol.
ing at an election held for that purnoss
as provided In the first part of this ar.
| ticle, and said drainage districts
| through the Boards of Commissioner
l tvnnr .l4H~A
sue negotiable bonds therefor PAYABLE
in principal and 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 that for
| which said contributions were voted
and shall not run for a longer period
than forty (40) years from their date.
nor bear greater rate OF interest thar,
/ 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 vote
under the laws of this State at cleo.
lions held in drainage districts organ-
! ICED under existing laws are hereby
ratified and confirmed. and their va.
| lidity shall not, be questioned.
Provided that for the purpose of res
| ducing the total rate of special taxa.
ton. municipal corporations. parishes
and school sewerage or drainage dis
| tricts, when authorized to do so a.
| above shown for the Issuance of bonds
may issue new bonds covering any par.
tlcular issue or issues of bonds, or the
whole outstanding bonded Indebtedness
incurred under. and for the purpose
article. the said new bonds to be known
as Refund Issue Bonds Of political
Subdivision) in the year -" Said
| Refund Issue Bonds shall run for a PEE
Rod of forty (40) years from Their, date.
shall not bear a greater rate of inter-
est than five 80 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
either In whole or in part exchanged
for 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 (5) years: and each
election shall not only cover any or all
:: unrefunded bond issues authorized by
|
paragraph of this article but may also
include any or all previous refund Is.
sues. And when the bonds of any issue
shall have been obtained either BY
} purchase or exchange. the tax rate lev-
led to pay for said bonds shall at ones
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 its sinking fund
That this proposed amendment shall be
submitted to the qualified voters OF
the State for adoption or rejection at
the presidential and congressional cleo
ton 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.
! That on the official ballots to be used
az said election, there shall be placed
the words: For the proposed amend.
ment to Article Two Hundred and
: Eighty-one t2sD of the Constitution
. OF Louisiana" and the words: Against
a the pronosed amendment to Article Two
4 Hundred and Eighty-one (2S1) of thu
: Constitution OF the State of louisiana
3 ana each elector shall Indicate as pro.
i vided In the general election laws oil
I the State. which of the propositions
!. for" or against" he votes.
> III. G. DUPRE.
= Speaker Of the House of Representative,
II p. M. LAMBREMONT,
. Lieutenant Governor and President O.
: the Senate.
Approved July O. 1908.
]. Y. SANDERS.
= Governor of the State of Louisiana
A true copy JOHN T. MICHEL
!, Secretary of State.