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

EXTRA SESSION 1912
ACT no. a.
Senate Bill No. 2. BY Mr.. yoegtle
Joint resolution submitting to the
p p1,,a PIE :, q the State Of Louisiana al
i thorizing parishes and self taxing n1u-
nlclpalltles to exempt new Industrial
enterprises and also improved value
\ lncluslVe of structures added to unim.
state, who occupy said lands as home
steads from local taxation for a period
hos exceeding Gee ten l1ol years.
ea session. i. 1. Be it resolved by the
Genefal Assembly of the State of Lou
islana, two-thirds Of all the members
| eIected to each house eoncurring, That
me us IolloWlng amendment to the Con-
s srnsut tba OF the State Of Louisiana be
the qualified electors Of the State at
the congressional election to be held
o on the first Tuesday after the first
| MONDAY in the month Of November of
/ the year 1912, to-wit:
every parish and self-taxing muni-
c1pallty. shall have the right to exempt
new ne industrial enterprises and also the
/ lands, including all structures thereon,
by migrants into the State who oc-
1 cupy said lands as homesteads from To-
c ca taxes for q period not to exceed ten
| I0) years by the vote of two-thirds in
number Of all it's taxpayers, who are
Qualified electors, including resident
women taxpayers, holding at least two
tn1rds or the property subject to local
| taxation within the taxing locality at a
special election called for that purpose,
at which special elecyfon members of
partnerships par associations and heirs Of
entitled to vote their respective pro rata
or the assessed valuation Of said part
nersh1ps, associations or estates. Each
enterprise SO exempted must be situat-
ed within the limits of the exempting
authority and be established after the
exemption is granted.
Section 2, Be it further resolved,
etc The, That there shat be printed on
the words: .For the constitutional
amendment authorizing parishes and
self-taxing municipalities to exempt new
industrial enterprises and also improv
70 unimproved lands by immigrants
into the State who occupy said lands
as homesteads, from local taxes for a
period 2, not to exceed ten t1o) years" and
authorizing parishes and self taxing
municipalities to exempt new Industrial
enterprises, and also improved value.
including structures, added to uniYn-
state who occupy said lands as home
steads, from local taxes for period
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 he votes for or
against the said amendment
THOMAS C. BARRETT
Lieutenant Governor and President of
L. E. THOMAS,
Speaker OF the House Of Representatives
Approved: August 24th, 1912.
Governor Of the state of Louisiana
& AVN a1us e1p :. HERERr.
Secretary Of State.
's ACT NO. 8.
Senate Bill No. s.. BY Mr.. Burke.
Joint resolution submitting TO the
people Of Louisiana amendment to
the Constitution exempting from taxa
ton for twenty 120) years corporations
organized to lend money on mortgages
SIX go per cent interest, net to the I
borrower. with power to negotiate bonds
and securities of local taxing districts.
Section I. Be It resolved by the Cen
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
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 1919, 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 rate of interest not to exceed six
go per cent net to the borrower, with
power to negotiate and handle bonds
and securities issued by the various par
ishes and local districts and municipali-
ties of the State Of Louisiana shall
be exempt from taxation for twenty COY /
years from the date of the organization
Of each Of said companies, provided that
each of said companies shall have full
paid cash capital stock of not less than
$250,00o0o and provided further that
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
from the time it makes such loan: and
any such corporation handling or ne
any SECURITIES other than those
1ereinabove mentioned shall incur a like
No such corporation shall have power
% receive any money on deposit or to
10 q banking business Of any sort, but
Ill such corporations shall be under
HE COi1lIC1 dlla DupSlflSloiA VI LIE otetI~I
Bank Examiner, whose duty 1t shall be
% report to the Attorney General and
he State Tax Commission any viola
ion 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 Tor the amendment to the Con-
'titutfon exemptfng from taxation for
wenty (20) years corporations organic
ID for the sole purpose of lending money
N country real estate situated In Lou
ent to the borrower, with power to ne ]
rotate and handle local securities, and
he words Against the amendment to
he Constitution exempting from taxa !
ion for twenty (2o) years corporations
rganized for the sole purpose of lend
ng money on country real estate situat-
d in Louisiana at not more than six
6, per cent net to the borrower, with
over to negotiate and handle local
and each e1ector shall in
icate on his ballot, as provided by the
eneral election laws of the State,