The herald. [volume] (New Orleans, La.) 1905-1953, 1912-08-29

/
| section be levied unless the genera
| property tax of each taxing locality
| when exercised to sixty per cent of it,
limit. shall not be sufficient TO pay tn,
expenses of its government. When
ever a municipal license equals the Ii
| cense levied by the parish. only th'
municipal license shall be due and col
| lectible.
| Article V.
l. All assessments of property FOL
| State purposes shall be made by
State Tax Commission. composed o.
| three members to be elected. not latel
| than July LIST, 1913, by Board com
posed OF the Governor: the state Au
| ditor and the State Treasurer from
among the qualified electors Of the re-
spective Railroad Commission Dis
trictS. as constituted at this date, anC
| they shall not be subject TO remova
except for the causes and in the man
ner provided for the removal of dis
trict judges.
,. The terms of the first commits.
SionerS shall be for two, four and sin
years. The period each is to serve
shall be determined by lot. At the eN-
Diration of such terms. election shall
be for the period OF six years: anC
commissioners shall be elected and va
cancies filled for any uneXpired term
by the qualified electors of the reSpec'
tive Railroad Commission Districts al
the regular congressional elections held
the first Monday in November every
two years: and at the said COMPRESSION
al election held just prior to the eN-
piratiOn of their respective terms.
g. The Commission shall maintain
an office and have its domicile at Ba-
ton Rouge, and the members shall re-
side in Baton Rouge and devote their
time exclusively TO the discharge OF
their duties.
l. They shall each receive a salary
of Five Thousand Dollars per annum
beginning January /. 1914, ana their
travelling expenses, not exceeding
maximum amount to be fixed from time
to time by the General Assembly, an
itemized account of which shall be
rendered in an annual report.
5. The chairman OF the first Com
mission shall be named by the APP
pointing Board and serve until the eN-
piration of his term of office. and there
after the Commission shall select its
own chairman.
6. The Commission and the individ-
ual members thereof shall perform such
duties in respect to assessment and tax
alton as are herein prescribed, ana
such other and further duties as the
General Assembly may from time TO
time prescribe
I. The General Assembly shall pro-
vide said Commission with an adequate
clerical force.
s. The Commission shall have pow
err to adopt and enforce such reason
able rules. regulations, and modes OF
procedure, not inconsistent with law,
as il may deem proper for the as
charge of its duties. and to hear and
determine complaints that may be made
against assessments, and other or It's
act. required or authorized by law.
3. The Commission shall have pow
er to summon and compel the attend
ance of witnesses, to swear witnesses
and to compel the production or DOCKS
and papers. to take testimony under
and to punish for con-
tempt. as fully as is provided by law
for the district courts. The General
Assembly may provide other penalties
for violating the orders of the Com
10. If any person, firm, association
or corporation shall be dissatisfied with
the assessment made or action taken
by the Commission, such party may
file a petition setting forth the cause
of objection to such assessment or ac-
ton of the Commission or to either OF
both in a Court of competent lurlsdlc-
ton. at the domicile of the Commis-
sion against said Commission as de-
PENDANT. Either party may appeal 10
the Supreme Court of the State with
out regard to the amount involved;
ten days after the date that the deci-
sion of the lower Court becomes final:
All such cases. both in the trial and
appellate court, shall be tried sum-
cases Such cases may be tried in the
court of the first instance either In
chambers or at Term time.
II. No bond snail be required OF said
nor shall advance costs. or security
for costs, be required OF II.
IL 1t shall be the duty of the Attor-
ney General. and the various district
ton by the Commission or the Govern.
or to aid the said Commission in all
legal matters. and to prosecute ana
defend all cases in accordance Win
such requests and directions. a failure
on the part of such law officers. when
so requested or directed to perform the
luties here imposed upon them, shall
constitute misfeasance in office
Article vi.
/. After January LIST, 1914, all as
sessments for all State purposes, ex-
,ept as hereinafter provided, shaii De
completed on or before April ISL In
Zach year, and the taxes shall become
iue and payable on the first Monday
N June of each year, and shall be-
ZONE delinquent on the first MONDAY
n September in each year Each par
light to fix the date for the compile
ion of it's local assessments ana tne
payment of its local taxes and licenses
general and special; until otnerMhilse
Until otherwise provided, existing laws
IN these subjects shall be operative.
.evee district taxes and FORCED CON
ributions. exclusive of produce taxes
shall be assessed and become ue s
luent coincidentally with parish taxes;
2. Public service corporations shall
,e assessed on their physical property
md on their franchises separately, but
he General Assembly shall have pow
n to direct the Tax Commission 10
assess the property OF such corpora
ions at a valuation including Doth
,hysical property and franchises, 10 De
by gross receipts, OF pS
dividends on stocks and interest paiu
N bonded debt. or by any other avail
bile method.
;essed by assessing the stockholders on
he book value of the stock, !. e., capt.
al stock, surplus and UNDIVIDED prof.
Is less the assessed. value of real es-
ate locally assessed and taxed, and
ess such further deductions OF not less
discounts to cover bad debts and un-
armed interest as the General AS
embly may prescribe, which deduc-
ion shall be made only from their
surplus and undivided profits: all taxes
o be paid by the banks and charged
o the stockholders.
4. Individual bankers. banking firms
md unincorporated banking associa-
ions. domiciled in this State. shall be
assessed on the amount of capital, sur
illus and undivided profits actually en-
lloyed in their business, less the as
essed and taxed. actually and eXclu-
lively used and employed in their bust
less. and less such further deductions
lot less than five per cent on their
oans and discounts to cover bad debts
md unearned interest as the Genera
ion shall be made only from their sur
)luS and undivided profits.