The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1908-09-05
ACT No. 300.

House Bill No. 304. ByMr Smith,
| JOINT RESOLUTION.
Proposing an amendment to Article Two Hun
dred and Hghtyone (sSl) of the Consttu-
ton of the State Of Louisiana, relative to
the issuance of bonds for work of public
improvement by municipal corporations.
parishes and drainage districts, and the
| assessment of special taxes to pay for
! same.
Section |. Belt resolved by the General AS
sembly of the State of Louisiana. two.thirds
of all the members elected to each House
concurring. That Article Two Hundred and
Hghty-one esd of the Constitution of the
State OF Louisiana. be SO amended as to read
as follows:
Article ssl, Municipal corporations. parish.
es. school, drainage or sewerage districts. the
| City of New Orleans excepted, when author
| lied to do so, by vote Of q majority in num-
| Der and amount Of the property taxpayers.
qualified as electors under the Constitution
and laws Of this state. voting at an election
| held for that purpose. after due notice of said
election has been published for thirty 500 days
| in the official journal OF the municipality or
parish, and where there is no official journal.
in q newspaper published therein, may incur
! debt. and issue negotiable bonds therefor. to
the extent of one-tenth G-10) Of the assessed
valuation of the property within said municipal
corporation. parish. school, or drainage or
sewerage district. as shown by the assessment
made prior to the submission of the PROPOSE.
ton to the property taxpayers, as above pro-
yided and may be authorized by the property
taxpayers voting at said election. to levy and
assess special taxes upon the property subject
to taxation in the parish. school. sewerage or
drainage district or corporation, provided. said
taxes SO imposed do not exceed five G) mills
on the dollar Of the assessed valuation in any
one Oyear. nor run for greater number OF
years than the number named in the PROPOSE
ton submitted to the taxpayers.
No bonds shall be issued for any other pur-
pose than stated in the submission of the prop
osition to the taxpayers and published for
! thirty 500 days as aforesaid nor for greater
amount than therein mentioned: nor shall
such bonds be issued for any purpose than
for paving and improving streets. roads
and alleys. purchasing or constructing sys
tens" of water works. sewerage, drain
age lights. public parks and buildings. bridges
and other works of public improvement. the
title to which shall vest in the municipal cor
pOration parish school. sewerage or drainage
districts. as the case may be: nor shall such
bonds run for o longer period than forty (40
years from their date. or bear greater rate
of interest than Ave % per cent per annum
or be sold by the municipal corporation. par
ing same for less than par.
The municipal corporation. parish. school.
sewerage or drainage district issuing such
bonds shall provide for the payment or the in
terest annually. or semi-annually. and the prin-
cipal thereof at maturity; provided. that the
total issue of bonds by any municipality par
ish school sewerage or drainage district. Tor
all purposes. shall never exceed ten QO) per
cent of the assessed 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 limits one or more sewerage
districts; and provided further that nothing
ucECh CUutttlllCu plOFVhs uAush"6S 80"
tricts from being established under the pro-
visions of existing laws. and that al drainage
! districts established under the laws OF this
state shall, in addition to the powers herein
above granted. have the further power and
authority to levy and assess annual contriDu-
tons or acreage taxes. for the purpose OF pro-
viding and maintaining drainage systems on
all lands situated In such districts not exceed
ing twenty-five (s5) cents per acre for pc
Rod not to exceed forty (4W years when au-
thorized to do SO by a vote OF majority In
| number and amount of the property tax pay
ers of said district qualified as electors under
the laws of this state. voting at an election
held for that purpose as provided in the hEst
part of this article. and said drainage districts