The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-09-07

EXTRA SESSION 1912

GAfn ma SESSaUN sJt&
ACT mo. 4.
Senate Bill No. q BY Mr.. voegtle.
Joint resolution submitting to the
| people Of the State of Louisiana an
amendment to the Constitution au-
thorizing parishes and self-taxing mu-
| inequalities to exempt new industrial
enterprises and also improved value,
inclusive of structures added to unim-
proved lands by Immigrants into the
State, who occupy said lands as home-
steads from local taxation for period
not exceeding ten (1o) years. ~.
Section /. Be it resolved by the
General Assembly of the State of Lou
| isiana, two-thirds of all the members
elected to each house concurring, That
the following amendment to the Con-
stitution of the State of Louisiana be
and the same is hereby submitted to
the qualified electors of the State at
the congressional election to be held
on the first, Tuesday after the first
Monday in the month of November of
the year 1912, to-wit:
Every parish and self-taxing NUM-
cipality shall have the right to exempt
new industrial enterprises and also the
improved value added to unimproved
lands, including all structures thereon,
by immigrants into the State who oc-
cupy said lands as homesteads, from To-
cal taxes for a period not to exceed ten
G0) years by the vote of two-thirds in
number of all its taxpayers, who are
qualified electors, including resident
women taxpayers, holding at least two
thirds of the properly subject to local
taxation within the taxing locality at a
special election called for that purpose,
at which special election members of
partnerships. associations and heirs OF
estates, otherwise qualified, shall be
entitled to vote their respective pro rata
a
nerships, associations or estates. Each
enterprise SO exempted must be situat-
ed within the limits of the exempting
authority and be established after the
Section 2. Be it further resolved,
ETC., That there shall be printed on
the ballot to be used at said election
the words: For the constitutional
se1ftaxing municipalities to exempt new
industrial enterprises and also improy-
ed value, inclusive of structures, added
to unimproved lands by immigrants
as homesteads, from local taxes for
period not to exceed ten (10) years" and
"a gainst the constitutional amendment
authorizing parishes and self-taxing
enterprises, and also improved value,
including structures, added to unim-
proved lands by immigrants into the
State who occupy said lands as home
not to exceed ten (10) years" and each
elector shall indicate on his ballot as
provided by the general election laws of
the State whether ne votes for or
against the said amendment.
THOMAS C. BARRETT,
Lieutenant Governor and President of
the Senate.
L. E. THOMAS,
Speaker of the House .f Representatives,
<>ppi0Neo' Nus'9s ' L. E. HALL.
Governor of the state of Louisiana.
A true copy:
ALVIN f. HEBERT.
Secretary of State.
ACT no. g.
Senate Bill No 8. By Mr.. Burke.
Joint resolution submitting to the
people of Louisiana an amendment to-
the Constitute exenpting from taxa
ton for#tWentya 291 years corporations
on country property at not more than
six go per cent interest, net to the
borrower. with power to negotiate bonds
and securities of local taxing districts.
Section /. Be it resolved by the Gen
eral Assembly Of the State of Louisiana,
two-thirds of all the members elected to
each house concurring, That the follow
ing amendment to the Constitution of
the State of Louisiana be and the same
is hereby submitted to the qualified
electors of the State at the congress
sional election to be held on the first
Tuesday after the first Monday in the
month of November of the year 1912, to-
wit:
The capital. surplus and personal es-
tate of every corporation hereafter or
ganized in this State for the sole pur-
pose Of lending money on mortgages on
country property situated in Louisiana
at a rate Of interest not to exceed six
CO per cent net to the borrower, with
power to negotiate and handle bonds
1rfti W he r.
ishes and local districts and municipali-
ties Of the State of Louisiana shall
be exempt from taxation for twenty (20)
years from the date of the organization
each Of said companies shall have full
paid cash capital stock of not less than
$25O,000.00, and provided further that
In case any such corporation shall on
any loan charge the borrower more than
six per cent interest. whether by way of
commission, discount, or otherwise, 1t
shall forfeit the entire exemption here
in granted, and be subject to taxation
from the time it makes such loan; and
any such corporation handling or ne
gotiating any SECURITIES other than those
hereinabove mentioned shall incur like
forfeiture.
No such corporation shall have power
to receive any money on deposit or to
do banking business Of any sort. but
all such corporations shall be under
the control and supervision of the State
Bank Examiner. whose duty it shall be
to report to the Attorney General and
the State Tax Commission any viola
ton Of the condition of this exemption.
Section 2. Be 1t further resolved, etc,
That there shall be printed in the
ballots to be used at said election the
words For the amendment to the Con-
stitution exempting from taxation for
twenty coo years corporations organic
ed for the sole purpose of lending money
On country real estate situated in Lou
isiana at not more than six (6) per
cent to the borrower, with power to ne
gotiate and handle local securities" and
ton for twenty (20) years corporations
organized for the sole purpose of lend
ing money on country real estate situat-
CO.. per cent net to tho borrower, with
power to negotiate and handle local
securities and each elector shall in
dictate on his ballot. as provided by the