The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-10-19

ANlEND|VlEN IL
EXTRA SESSION 1912
ACT NO. q.
Senate Bill No. 2. BY Mr.. Voegtle.
people of the State Of Louisiana an
amendment to the Constitution au-
thorizfng parishes and self-taHing mu-
inequalities to exempt new industrial
inclusive of structures added to unim-
proved lands by immigrants into the
State. who occupy said lands as home
steads from local taxation for a period
not exceeding ten 10) 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
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 muni-
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 VINO oc-
cupy said lands as homesteads, from To-
cal taxes for a period not to exceed ten
(10) years by the vote of two-th1rds In
number of all it's taxpayers, who are
qualified electors, including resident
women taxpayers, holding at least two
~ oP ~
taxation within the taxing locality at
special election called for that purpose
at which special elecxton members OF
partnerships, associations and heirs or
estates, otherwise qualified, shall be
entitled to vote their respective pro rata
of the assessed valuation Of said part
nerships, associations or estates. Each
enterprise SO exempted must be sltuat-
authority and be established after the
Section 2. Be 1t further resolved,
etc, That tFere shan be printed on
the ballot to be used at said election
the words: For the constitutional
amendment authorizing parishes and
self-taxing municipalities to exempt new
Industrial enterprises and also lmproV,
to unimproved lands by Immigrants
into the State who occupy said lands
as homesteads, from local taxes Tor a
period not to exceed ten (10) years and
HAE
authorizing parishes and self-taxlng
municipalities to exempt new industrial
enterprises, and also improved value.
including structures added to un1n1-
proved lands by immigrants into the
State who occupy said lands az home
steads, from local taxes for a period
not to exceed ten (1o) years, ana eacn
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. BARRET,
Lieutenant Governor and President OF
- L. e. THOMAS,
Speaker Of the House vr Representatives
Approved: August Gath, 1912 .
Governor of the state of Louisiana
calvin E. HEBERT:
w. Secretary of State
ACT N0. O.
Senate Bill No. 8. BY Mr.. Burke
Joint resolution submitting to the
people Of Louisiana an arnendment g
| the Constitution exempting from taxa
| ton for twenty (20) years corporations
| organized to lend money on mortgages
| on country property at not more tnar
six (6) per cent interest. net 70 sne
| borrower with power to negotiate bonds
| and securities Of local taxing districts
| Section /. Be it resolved by the Gen
1 eral Assembly Of the State of Louisiana
two thirds of all the members elected e
| each house concurring, That the follow
| ing amendment to the Constitution OF
| the State of Louisiana be and the sam
] is hereby submitted TO the qual1fiee
electors Of the State at the eongres
1 Tuesday after the first Monday in th'
month Of November, OF the year 1919 to
| wit:
| The capital, surplus and personal es
| oF hprn9fTRr
| gained in this State for the sole pur
| pose Of lending money on mortgages OF
| country property situated In Loufsian;
/ at a rate Of interest not to exceed 81.
i I6) per cent net to the borrower, witt
/ power to negotiate and handle bond
| and securities issued by the various par
ishes and local districts and municipal
4 ties of the State of Louisiana shall
be exempt from taxation for twenty go
Il years from the date Of the Organization
Of each Of said companies, provided tina
each of said companies shall have full
\ paid cash capital stock Of not less tha
$3.50. oOO. 90. and provided further tina
in case any such corporation shall @
any loan charge the borrower more tina
six per cent interest, whether by way 9
commission, Sdiscount or otherwise,
shall forfeit the entire exemption here
in granted, and be subject to taxatio
from the time it makes such lean; an
any such corporation handling or, ne
gotiating any SECURITIES other than thos
hereinabove mentioned shall incur a. lik
forfeiture
NO such corporation shall have powe
to receive any money on deposit or I
do a banking business Of any sort, bu
all such corporations shall be undo
the control and supervision Of the Stat
Bank Examiner. whose duty It shall b
to report to the Attorney General an
the State Tax Commission any yiols
ton of the condition Of this exemption
Section g. Be it further resolved, etc
That there shall be printed in tn
ballots to be used at said election tn
| words FOR the amendment to the Cor
stitution exempting from taxation f
twenty (2o) years corporations organE
ed for the sole purpose Of lending none
Ion country real estate situated In Lo'
Esisiana at not more than six co pt
| cent to the borrower. with power to nj
gotiate and handle local securities, an
| the words Against the amendment
4 | the Constitution exempting from tax
ton for twenty t2o1 years corpora 1 tioT
ing money on country real estate situa
ed in Louisiana at not more than $,
III (6) per cent net to this borrower, wit
power to negotiate and handle loo
securities" and each elector shall il
Il IaI l,xy