The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1908-09-05
ACT No am
House Bill No. $40. By Mr.. Smi
JOINT RESOLUTION

House Bill No. $40. By Mr.. Sut}
JOINT RESOLUTION
Proposing an amendment to AMI
Gle Two Hundred and Eightysu
(2S1) of the Constitution of the Su,
Of Louisiana. relative to the issuspr
of bonds for work of public !mproe
ment by municipal corporations, "a,
ishes and drainage districts, and ds
assessment of special taxes to pay ir
same.
Section /. Be it resolved by th
General Assembly of the State d
Louisiana, two-thirds (2-3) Of al
the members elected to each Hous
concurring, That Article Two, Hul
dred and Eighty-one esd Of IN
Constitution of the State Of Louis
ana, be SO amended as to read u
follows:
Article 2S1. Municipal corport
ton, parishes, schools, drainage
sewerage di: tricts of the City OF New
Orleans excepted, when authorize
to do SO, by a vote of majority y
number and amount OF IN
property taxpayers. qualified Z
electors under the Constitution al
laws of this State voting at an elee
ton held for that purpose. after d.
notice of said election has been put
lished for thirty 600 days In u
official journal of the municipality Z
parish, and where there is no o.
cial journal, in a newspaper pub
shed therein, may incur debt. q
issue negotiable bonds therefor,
the extent of one-tenth C1-lO)
the assessed valuation Of the pfq
erty within said municipal corpc1
ton. parish, school, or drainage
sewerage district, as shown BY
assessment made prior to the
mission of the proposition TO
property tax payers, as above prov
ed, and may be authorized BY
property taxpayers voting 81
election, to levy and assess 'spe
takes upon the property sub1ec
taxation in the parish, school se
age or drainage district or corp
ton; provided. said taxes 80
posed do not exceed five ~
on the dollar of the assessed va
ton in any one t1) year, nor
for a greater number OF years
the number named in the pro-
ton submitted to the taxpayer
No bonds shall be issued for
other purpose than stated in the
mission of the proposition to thel
payers, and published for
days 900 as aforesaid, nor
greater amount than therein
toned; nor shall such bonds .
sued for any purpose than TOT
ing and improving streets. roao'
alleys, purchasing or construf
systems of water-works, seweE
drainage lights, public parK1
buildings, bridges and other
of public improvements, the w
which shall vest in the municipaf
poration, parish, school seweraP.
drainage district as the case ma f.
nor shall such bonds run 1or
ger period than forty (4O) ls
from their date, or bear a 81.
rate of interest than five (oP.e,
cent per annum, or be sold ln'
municipal corporation, parish, 1oo
drainage or sewerage district Is III
same for less than par. =,
The municipal corporation, His;'
school, sewerage or drainage dt' :,
issuing such bonds shall PROVE :, =,
the payment of the interest anMa u
- semi-annually, and the prlFilL
thereof at maturity; provided W
the total issue OF bonds by any pu
cipality, parish. school, sewerage
drainage district, for all purpos
shall never exceed ten (10)pes Z
of the assessed value Of the pr
erty in such municipality, Yat
school, sewerage or drainage dfs.'
Provided that municipal c4ul
shall have authority to create '
In their respective limits one o.