The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1912-09-07

interest at a rate not exceeding five
per Centum per annum payable an
nually or semi-annually, which bonds
shall not be sold for less than par;
and said Board of Drainage Commits
sionors shall levy annually upon said
land forced contributions Or acreage
taxes in an amount sufficient tOI
maintain the drainage of said land,
to pay the interest, annually or
semiannually, and the principal fall
ing due each year, or such amount
as may be required for any sinking
fund provided for payment Of said
bends at maturity, provided, that such
forced contributions or acreage taxes,
for all purposes shall never exceed
Three Dollars and Fifty Cents $3.50
per acre per 'annum.
Paragraph 4. The police juries of
the various parishes throughout the
State, for the purpose of construct
ing highways and public buildings for
the parish, and the governing au-
thorities of municipal corporations,
for the purpose of paving or improv-
ing streets or alleys, and for all mu-
nicipal improvements, after making
provision for the payment of all stat
utory and ordinary charges, may fund
into bonds running for a period not
exceeding ten (10) years, and bear
ing interest at a rate not exceeding
five 50 per centum per annum,
which bonds shall not be sold for less
than par, the avails of the residue
of the ten Q0) mill tax authorized
by Article 232 of the Constitution of
Louisiana.
: Paragraph 5. Should any of the
subdivisions of the State neglect or
fail for any reason to impose or cal
lect the taxes provided for in the
foregoing sections, any person in in
) terest may by summary proceedings
in the district court having jurisdic
ton, enforce the imposition or col
lection of such taxes, or both, and
such proceedings shall be filed and
triable free to any cost to the litigant
Paragraph 6. Municipal corpora
tons, parishes and school, drainage
subdrainage, road, subroad, naviga
ton and sewerage districts (the City
of New Orleans excepted,) herein
after referred to as subdivisions
l when authorized to do so in the man
ner herein provided, may, for thu
l purpose Of readjusting, refunding, ex
: tending or unifying their bonded in
debtedness, issue new bonds, cover
ing any particular issue or issues o
L bonds or the whole outstanding bond
ing Indebtedness incurred by sucl
subdivision for the purposes specifie'
in Paragraph 1 of this article or an!
issue of refund issue bonds or renew
y al or refunding bonds issued by sucl
subdivision in novation or renewa
and any bonds, heretofore or here
= after issued for the purposes spec
u fled in said Paragraph 1 of this Al
ticle. No bonds issued under thi
paragraph shall run for more tina
p forty (4O) years from their date, no
shall bear a greater rate of interes
II than five per centum per annun
L payable semi-annually or annually an
. shall not be sold by such subdivisio
/ issuing the same for less than pal
% Any bonds issued under this Article
may be, either in whole or in par
, exchanged value for value for bond
t issued, under Article 281, or to be II
' sued under said Paragraph 1 Of thi
" Article, or sold and the proceed
= thereof used for the purpose of pu1
. chasing outstanding bonds. Befor
u any bonds shall be issued under thi
~ paragraph the issuance thereof sha
be authorized by a vote of a major
ty in number and amount of the pro-
> erty taxpayers qualified to vote III
- der the Constitution and laws of thI
- State who vote on the proposition
le an election held for that purpose, a
- ter due notice of said election ha
- been published, for thirty days in tt
LIS official journal of the parish or pa
y ishes in which said subdivisions al
"i located, or where there is no OIL
- cial journal, in any newspaper pu
j lished in such parish or parishe
t provided, however, that the COVER
y ing body of any such subdivision N;
II in their discretion and without
y vote of the property taxpayers,
sue refunding or renewal bonds u
VI der this paragraph, if the bonds
" be refunded or renewed therel
y have been or shall be issued for ar
VI &c tho prr0OcoC Cnnrifipd in said Pa