The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1912-11-02
Proposed Constitutional CHANCES
Synopsis of the Amendments Proposed by the Regular and
SpeciaSessions of Legislature to be Voted on Tuesday,
TTMES.DEMOCRAT.

| 1HlS particular amendment refer
to Article 46 of the Constitution. Tn
der it's terms the Board of Liquida
ton of the State Debt shall unde
certain limitations have the poWe
to settle all outstanding "Bab!
Bonds" excluding those which ma,
have been fraudulently issued fol
school certificates under Article 12(
CT 1880; certificates issued under Act
SO of 1880 for costs and fees due
State officers; warrants drawn prior
t. 1880 and fundable but not funded
into Baby Bonds"
The next proposes an amendment
to Article 291 of the Constitution so
that police juries after forming road
Improvement districts may set aside
l mill of the taxes for such work
and impose a per capita tax of 81
per annum on each able-bodied male
inhabitant between the ages of is
and IS, etc.
An amendment is proposed where
by every parish and selftaxing mu.
niclpality shall have the right to ex.
empt new industrial enterprises and
the improved value added to unim-
proved lands by immigrants, for a
period not exceeding ten years. This
is not an amendment to any article
of the Constitution, but an addition.
On he tballot will appear the words
For the Constitutional amendment
authorizing parishes and self-taxing
municipalities to exempt new indus.
trial enterprises, etc., from local
taxes for period not to exceed ten
years."
The next amendment is similar in
nature and provides for the exemp.
ton for twenty years of all corpora
tons organized to lend money on
mortgages and country property at
a rate Of interest not exceeding 6
per cent net to the borrower, with
power to negotiate bonds and securi-
lies of local taxing districts. The cor
poration shall not have the right to
10 a banking business of any sort.
This amendment would be an addi-
ion to the Constitution.
By the next amendment it is pro-
posed to exempt from taxation mon
~ in hand or on deposit. This is
simple straight cut proposition. The
provides that money in
hand or on deposit shall not be tax
I'd. 1t would also be an addition to
he Constitution.
The next amendment provides hat
ne people may by vote exempt
rom taxation an amount not to ex
'eed $4,000, to be deducted from the |
'alue of dwellings. This means that
man who owns a house that is not |
worth more than $4,000 shall not be |
axed on such property. This would |
'e a new article to the Constitution. |
The next amendment provides that
very parish through its police jury
nall nave the right on the petition
= one-fourth of the qualified electo-
ate to submit at special election
ne question as to whether or not the
lry shall have the power to ex-
mpt the cities and towns within the
ubdlvision from the payment If
axes and licenses levied for parish
|
In case such exemption is granted
he city, incorporated town or vii.
lge, shall make a contribution 'o
re parochial authorities. The amount
lay be determined by the police
Try and the other constituted au-
lorlty, and in case of a disagree
lent the matter shall be left to the
tate Tax Commission.
Another amendment proposed which
ould be new article to the Con.
would exempt from taxa
on tor period of ten years from
lie date of completion, the capital
lock, franchises and certain proper.
of all corporations operating with
the State 4 combined system of
navigation and hydro-elec.I
'lc power using fresh water, provid-
that each system shall be COM
leted and in operation within five
ears from Jan. 1, 1918, and provided
lrther that not less than $4,000. 900
hall be used in the construction If
Itch system.
The next amendment proposes to
zempt from taxation all the legal
eserve of all the life insurance CON-
anies organized under the laws of
Continued on page four.)