The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1908-10-17

H. G. DUPRE,
Speaker of the House Of Renr....
tatives.
P. NJ. LAMBREMOvr
Lieutenant Governor and D.
dent of the Senate.
Approved July 9th, 1908.
J. Y. SANDERS,
Governor Of the State of Louisi,,.
A true copy.
JOHN +. MICHEL.
Secretary of State.
ACT No. 300.
House Bill No. $40. BY Mr.. Smhl|
JOINT RESOLUTION
Proposing an amendment to AM
Gle Two Hundred and Eishtyo.
(2SD of the Constitution of the SUI
of Louisiana, relative to the issuanea
of bonds for work of public impre,H
ment by municipal corporation M
ishes and drainage districts, and IL
assessment Of special taxes to nay h
same.
Section 1. Be it resolved BY IN
General Assembly of the State 4
Louisiana, two-thirds (2-3) Of i
the members elected to each Hous
concurring, That Article Two HUI
dred and Eighty-one (2S1) Of II
Constitution of the State Of Louis
ana, be so amended as to read q
follows:
Article 2S1. Municipal corpora.
ton, parishes, schools, drainage d
sewerage districts of the City Of New
Orleans excepted, when authorize
to do SO, by a vote of a majority b
number and amount Of III
property taxpayers. qualified q
electors under the Constitution all
laws Of this State voting at an elec
ton held for that purpose, after d.
notice of said election has been pub
lished for thirty 800 days In th
official journal of the municipality Q
parish, and where there is no Oh
cial journal, in a newspaper publ
shed therein, may incur debt. an
issue negotiable bonds therefor. :
the extent of one-tenth (1-lO) q
the assessed valuation of the proI
erty within said municipal corpor'
ton, parish, school, or drainage .
sewerage district, as shown by u
assessment made prior to the sdl
mission of the proposition to u
property tax payers, as above provl'
ed, and may be authorized by u
property taxpayers voting at s.
election, to levy and assess spec'
takes upon the property subject
taxation in the parish, school sewe
age or drainage district or corpor
ton; provided, said taxes so y
posed do not exceed five 90 mi
on the dollar of the assessed Valu
ton in any one Cd year, nor 3
for a greater number OF years tn'
the number named in the propo
ton submitted to the taxpayers.
No bonds shall be issued f0r =
other purpose than stated in the 50
mission of the proposition to the Y
payers, and published for I'M
days (30,) as aforesaid, nor LOT
greater amount than therein me
toned; nor shall such bonds pe
sued for any purpose than Tor =
ing and improving streets, roads |.
alleys, purchasing or construct.
systems of water-works, SEVERN
drainage lights. public parks :.
buildings. bridges and other Mol
of public improvements. the titie
which shall vest in the municipal .
poration, parish, school sewerase
district as the case may
nor shall such bonds run tor y
ger period than forty (4O ye.
from their date, or bear a grea'
rate of interest than Ave 81 :
cent per annum, or be SOLD W
municipal corporation, parish sca :
or sewerage district iSs''
same for less than par.
The municipal corporation, par.
school, sewerage or drainage ais'.
issuing such bonds shall provloe
the payment of the interest annual.
g. semi-annually. and the prinIlts
thereof at maturity; PROVIDED, :.
the total issue or bonds by any mu'
cipality, parish, school, sewerase
drainage district, for all purpos'
shall never exceed ten (1olp per ~
of the assessed value OF the plS
srty in such municipality, pa. o.;
sewerage or drainage 0is.'.