The Caldwell watchman. (Columbia, La.) 1885-1946, 1912-09-13

provided. however that the governin,
body Of any such subdivision NAV II
their discretion and without vote O.
the property taxpayers. issue refundini
or renewal bonds under this paragraph
If the bonds to be refunded or renewed
| thereby have been or shall be ISSUED
for any of the purposes specified in sa Id
Paragraph l Of this article. or In nova.
ton or renewal OF any bonds issued o,
to be issued for tie said purposes spec.
flied In paragraph of this article, ana
such issue or issues SO refunded or re-
Eewed have been or shall be authorized
by a vote Of a majority in number and
amount of the property taxpayers quail
flied by a vote under the Constitution
and laws Of this State who voted or
shall vote on the proposition at an
election held for that purpose. When
| the bonds Of any outstanding issue shall
have been obtained either by purchase
or exchange. the tax levy to pay for
such bonds shall at once cease and such
/ bonds he Cancelled. Each year while
any refunling bonds issued under mis-
paragraph are outstanding the govern
| ing authorities of such subdivision shall
! levy and collect annually. in excess of
| all other taxes. a tax sufficient to nav
the interest, annually or semi-annlal:v,
ard the principal falling due or such
amount as may be required for sink
hNnES
at maturity. provided that such sncaial
ad va!orem tax for all purposes shall
not in any year exceed ten mills on the
dollar of the assessed valuation of the
property in such subdivision.
The governing body Of any such sub
division Shall have full power to adopt
and pass all ordinances and resolutions
necessary to carry the provisions of
this paragraph into effect. An election
may be held under the provisions of
this paragraph at the same times and
places and by the same election off.
GERS as an election on the Question of
mourning debt and issuing bonds IN.
der the provisions o. said Paragranh I
of this Article.
Where bonds os'any subdivision have
been heretofore issued for any Of the
purposes specified In Paragraph | of this
Article. and such issue has been author
zei by the vote Of majority in num- |
Der and amount Of the property fay |
payers qualified tn vote under tile Con. I
and laws of this State who |
voted upon til" proposition to issue such !
bonds at an election held for that nur-
pose ana whore such bonds have beer .
not less than par value thereof the
SAID bonds or any refund issue bonds
or renewal or refunding bonds issued
in novatlon or renewal of bonds iss,,nJ
Tor said purposes specified in Para.
graph | OF Article two hundred am,
lightly one esq are hereby validated,
ratified and ronfirmed: provided that
such bonds did not at the tine of their
SSue exceed ten per ccntum Of the as
sesaod valuation of the property in
'uch subdivision, and such bonds here
~ ratified, approved and confirmed
shall be deemed 10 be the valid ami
ncnntestibir obligations of such sub
i1v;sion and tax for the payment of
he principal and interest thereof and
o create sinking fund for the redemp-
ION snail he levied aud collected in the /,
manner and within The limits prescribed
y said Faraevaph l Of this Article ,
MS entire Article Is to be considered :
nun grant OF power to the subdivisions {
II the State as set forth therein. :
section ;. BE it further resolved. etc. I
hat this proposed amendment shall, t
e submitted TO the qualified voters of I
MS state for adoption or rejection at c
ne CongFessionai election to uc held in
,ovember. 1872. and. If adopted. tho I
ame shall take effect Immediately t
hereafter 9
Section ;. Re It further resolved. etc [
hat on the official ballots to be issued
{ said election there shall be placed @
lie words 'tor the proposed amendment a
:, Articl" Two Hundred and Eighty-onc 0
the Constitution OF Louisiana" and
re words AGAINST the proposed amend
lcnt to Article Two Hundred ana O
Ishty-one of the Constitution of Louis u
ma, and each clector shall Indicate n
provided in the general election laws u
the State, which OF the propositions.
for' or against he votes
l.. T.. THOMAS. q
oeaker OF the House of Representative q
THOMAS c. BARRETT n
lieutenant Governor and President of n
the ScRats. 81 f,
pproved: July 9th, 1912. i