The Natchitoches enterprise., 1912-10-24

imnose and collect annually. in excess
| of all other taxes, tax suf1lcleht 10
pay the interest annually or SEM M
annually and the principal falling due
each year. or such amount as may pc
required for any sinking fund necessary
| to retire said bonds at maturity; pro,
purposes as above set forth shall nor
| in any year exceed ten mills on the dol
| lar of assessed valuation OF the prop
erty in such subdivisions
No bonds shall be issued for any
other purpose than that stated in the
| submission of the proposition to the
| taxpayers and published for thirty t3oI
| days as aforesaid. or for a greater
amount than therein mentioned; nor
| shall such bonds be issued Tor any
other purpose than for constructing
| improving and maintaining public roads
| and highways, paving and lmproyiins
and constructing systems of water
| works, sewerage, drainage, navlsatlon'
| lights, public parks and buildings 70
gether with all necessary equipments
and furnishing, bridges and other
| works of public improvement, the title
to which shall rest in the SUBDIVISION
| creating the debt, as the case may De,
| nor shall such bonds run for longer
period than forty (4O) years from their
| date or bear a greater rate or interest,"
| than five per centum 81 per annum;
| or be sold for less than par. Ihe total
| issue of bonds by any subdivision for
ali purposes shall never exceed ten
per centum (10) of the assessed Valua-
| ton of the property in such suodivis-
| ions. Municipal councils are granted the
anthorty to ereafe wl5hh e
Paragraph 2. Police juries in any
| parish or parishes may in accordance
with law create drainage districts
which in addition to the powers here
| inabove granted, shall have further
power and authority to provide and
| maintain drainage systems and the
| governing authorities of such districts
when authorized by majority in num-
| Der and amount of the property tax
| payers of said district qualified to vote
under the Constitution and laws, who
vote at an election held for that pur-
| pose, may impose and collect for a pc
| Rod not exceeding forty years forced
| contributions or acreage taxes not eX-
ceeding fifty cents per acre per year
on every acre of land in the SupdlVlslon
where such an election is held The
| governing authority Of such subdivision
| when authorized as set forth, may in
cur debt and issue negotiable bonds to
| represent same, secured by the taxes
| above described provided that the total
amount of debts thus incurred or bonds
| issued. shall never exceed in principal
| and interest the aggregate amount to
| be raised by said annual contributions
| or acreage taxes during the period for
| which the same are imposed and that
| no such bonds shall be issued for any
other purpose than that for which said
|
| voted, run for a longer period than
| forty years. bear a greater rate of in
terest than five per centum per an,
| mum or be sold for less than par. All
| bond issues heretofore authorized by
| taxpayers in any subdivision at any
| election not contested on any ground
of fraud are hereby recognized and
| validated.
any land is such that it must be leveed
and pumped in order to be drained
and reclaimed. the Board of Drainage
| Commissioners of the District in which
petition of not less than a majority in
| acreage of the property taxpayers,
resident and nonresident, IN the area
/ to be affected, ascertain the cost OF
| drainage, and retaining said land and
incur debt against said land for an
1 amount sufficient to drain and reclaim
it, and issue for such debt negotiable
| bonds running not longer than forty
/ (40) years from their date and bearing
interest at rate not exceeding five
| per centum per annum payable annually
or semi-annually, which bonds shall not
| be sold for less than par; and said Board
| of Drainage Commissioners shall levy
! annually upon said land forced contribu-
| tions or acreage taxes in an amount
| sufficient to maintain the drainage of
said land. to pay the interest, annually
or semi-annually. and the principal fall
| ing due each year, or such amount as
may be required for any sinking fund
| provided for payment of said bonds at
| maturity, provided, that such forced
/ contributions or acreage taxes. for all
4 purposes shall never exceed Three DOH
lars and Fifty Cents ($3.5o) per acre
per annum.
e. gSaRh 4 Thas oliea i,.rses q The
various parishes throughout tie State
4 for the purpose of constructing high
ways and public buildings for the par
ish, and the governing authorities OF
municipal corporations, for the purpose
of paving or improving streets or al
leys, and for all municipal improve
ments, after making provision for the
payment of all statutory and ordinary
charges, may fund into bonds runnlne
for a period not exceeding ten (lOl
years, and bearing interest at rate no
| exceeding five (5) per centum per an
mum, which bonds shall not be solo
for less than par, the avalls OF tn
residue of the ten (10) mill tax au
thorized by Article 232 of the Constltu
ton of Louisiana.
Paragraph 5. Should any of the sub
divisions of the State neglect or fail 70
any reason to impose or collect tn
taxes provided for in the foregoing sec
TONS any person in interest may b!
summary proceedings in the distric
court having jurisdiction, enforce thu
imposition or collection OF such taxes
or both, and such proceedings shall b.
filed and triable free to any cost to tn
litigant.
Paragraph g. Municipal corporations
, |
drainage, road. subroad, navigation an
sewerage districts (the City or New
Orleans excepted), hereinafter referee
. to as subdivisions, when authorized t
J do so in the manner herein provided
. may, for the purpose of read1ustlne
refunding extending or unifying the'
bonded Indebtedness, issue new Donas
.. covering any particular issue or issue
] bonded Indebtedness. incurred by sue
, subdivision for the purposes spectre.
in Paragraph l of this article or an
issue or refund issue bonds or renewa
or refunding bonds issued by such sub
division in novation or renewal and an
| bonds heretofore or hereafter issue
for the purposes specified in said Para
: graph 1 of this Article. No bonds Is
sued under this paragraph shall run TO
more than forty (40) years from thei
date, not shall bear greater rate 2
interest than five per centum per an
mum, payable semi-annualiy OF amy n9
I. division issuing the same for less ma
I par. Any bonds issued under this Al
I ticle, may be, either in whole or J
, part, exchanged value .i Tor va Vaiue ~ ~
: be issued under said Paragraph i .
: this Article, or sold and the proceed
! thereof used for the purpose OF pui
y chasing, outstanding bonds. Before an
!. bonds shall be issued under this para
: | graph the issuance thereof shall 2
authorized by vote Of aNmaJorlty ]
| number and amount Of the propert
J. taxpayers qualified to vote under tn
Constitution and laws of this State WI
I vote on the proposition at an electlo
held for that purpose, after due motto
of said election has been published, &c
thirty days in the official journal {
l. the parish or parishes In which sal
subdivisions are located, or where thei
is no official journal, in any newspapt
published in such parish or parishe
provided, however. that the govern1n
body of any such subdivision may
their discretion and without a vote {
the property taxpayers. issue refundin
or renewal bonds under this paragraph
a If the bonds to be refunded or reneWe
I thereby have been or shall be issue
for any of the purposes specified in sa
= - 80 AZ al In nov: