The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-10-03

| wv ~ i"'C AoL cACCtuiHS law
per centum per annum payable an
nually or semi-annually. which bond
shall not be sold for less than par;
and said Board OF Drainage Commits
sioners shall levy annually upon sale
land forced contributions or acreage
taxes in an amount sufficient tC
MAINTAIN the drainage of said land
to pay the interest, annually or
semi-annually, and the PRINCIPAL fall.
irs 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 iurjes 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.
nicipa 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 1O years, and bear.
ing interest at rate not exceeding
five 10 per centum per annum,
which bonds shall not be sold for less
than par, the avails of the residue
of the ten 10) 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
fl the district court having jurisdic.
tion, 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.
lions, parishes and school, drainage,
subdrainage, road, subroad, naviga-
ton and sewerage districts (the City
IF New Orleans excepted,) herein
after referred to as subdivisions,
when authorized to do 80 in the man
Ter herein provided, may, for the
purpose Of readjusting. refl,nding, ex-
or unifying their bonded in.
lebt9dness. issue new bonds, cover.
ng any particular issue or issues Of
'onds or the WHOLE outstanding bond
ng indebtedness incurred by, such
ubdiyision for the purposes specified |
Il Paragraph l of this article or any |
ssue OF refund issue bonds or renew
] or refunding bonds issued by such
subdivision In novation or renewal
nd any bonds, heretofore or here.
fter issued for the purposes speci.
led in said Paragraph of this Ar.
|cle. No bonds issued under this
aragraph shall run for more than
orty (40) years from their date, nor
hall bear greater rate of interest
ian five per centum per annum,
ayable semi-annually or annually and
hall not be sold by such subdivision
suing the same for less than par.
ny bonds issued under this Article,
ay be, either in whole or in part,
schanged value for value for bonds
sued, under Article PSI, or to be is.
led under said Paragraph 1 Of this
rtlcle, or sold and the proceeds
ereof used for the purpose Of pur- !,
lasing outstanding bonds. Before ..
~ bonds shall be issued under this .
'ragraph the issuance thereof shall !,
authorized by a vote of MAORI
IN number and amount of the prop.
ty taxpayers qualified to vote I'M 6
r the Constitution and laws of this :.
ate who vote on the proposition at
election held for that purpose, at 6
Que notice of said election has
en- published, for thirty days in the
.lclal journal of the parish or par T
les in which said subdivisions are
'ated, or where there is no Off A
i journal, in any newspaper pub.
aed IN such parish or parishes, r.
'Vded, however. that the govern A
body Of any such subdivision may
their discretion and without
e OF the property taxpayers, is
reminding or renewal bonds un.
: this paragraph, il the bonds to
refunded or renewed thereby
'e been or shall be issued for any Sc
the purposes specified in said Par
aph of this Article, or in nova