The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1912-09-28

| ferred to as subdivisions of the State.
when authorized by a vote of a ma
! jority, in number and amount of the
property taxpayers, qualified to vote
under the Constitution and laws Of
this State, who vote at an election
| held for that purpose, after due no
tice Of said election has been pub
| lished for thirty days in the official
journal of the municipal corporation
or parish or where there is no Off
cial journal, in a newspaper publish
| ed therein, may, through their respec-
tive governing authorities incur debt
and issue negotiable bonds therefor,
and each year while any bonds thus
issued are outstanding, the governing
authorities of such subdivisions shall
impose and collect annually, in eX-
cess of all other taxes, tax suffl-
cient 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 necessary to retire said bonds a
maturity; provided that such special
taxes, for all purposes as above set
forth shall not in any year exceed
ten mills on the dollar of assessed
valuation of the property in such
subdivisions.
No bonds shall be issued for any
other purpose than that stated in the
submission Of the proposition to the
taxpayer, and published for thirty
(30) days as aforesaid, or for a great
err amount than therein mentioned;
nor shall such bonds be issued for
any other purposes than the construct
ing, improving and maintaining pub
lie roads and highways, paving and
improving streets, roads and alleys,
purchasing and constructing systems
of waterworks, sewerage, drainage,
navigation, lights, public parks and
buildings, together with all necessa-
ry equipments and furnishing, bridges
and other works of public improve
ment, the title to which shall rest in
the subdivision creating the debt, as
the case may be; nor shall such
bends run for a longer period than
forty (40) years from their date or
bear a greater rate of interest than
five per centum (5) per annum, or
be sold for less than par. The total
issue of bonds by any subdivision for
al! purposes shall never exceed ten
per centum 00) of the assessed val
uation of the property in such subdi-
visions. Municipal councils are grant
ed the authority to create within
their limits one or more sewerage
districts.
Paragraph >. Police juries in any .
parish or parishes may in accordance
with law create drainage districts,
which, in addition to the powers
aereinaboye granted, shall have fur
Their power and authority to provide
and maintain drainage systems and
the governing authorities of such dis
.ricts. when authorized by a MAORI
y III number and amount of the prop
arty taxpayers of said district quail
led to vote under the Constitution
md laws, who vote at an election
held for that purpose, may impose
e., al nf nyPnnh-
ng forty years forced contributions
II acreage taxes not exceeding I'll
v cents per acre per year on every
lcre Of land in the subdivision where
uch an election is held. The gov .
rning authority of such subdivision
when authorized as set forth, may IN I
ur debt and issue negotiable bonds {
o represent same, secured by the .
axes above described provided that ,
he total amount of debts thus incur !
ed or bonds issued, shall never eX- /
eed in principal and interest the ag- G
regate amount to be raised by said {
nnual contributions or acreage taxes S
uring the period for which the same .
re imposed and that no such bonds f
hall be issued for any other purpose /
nan that for which said contributions q
r acreage taxes were voted, run for i
longer period than forty years, bear /
greater rate of interest than five C
err centum per annum or be sold for /
,ss than par. All bond issues here y
,fore authorized by taxpayers in any i,
lbdivision at any election not con- !,
,sted on any ground of fraud, are Y
ereby recognized and validated. s
Paragraph 8. When the character of d
nv land is such that it must be le- Il
eed and pumped in order to be h
rained and reclaimed, the Board of O
rainage Commissioners of the Dis
let in which the land it situated, Fl
lall, upon the petition of not less q
IAN a majority in acreage Of the g
-operty taxpayers, resident and non ii