The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1912-09-27
prov,dsd, however, that the governing

| proyidsd, however, that the governing
body Of any such subdivision may IN
| their discretion and without vote Oh
the property taxpayers. issue re1unulns
| or renewal bonds under TINS paragrapli,
| If the bonds to be refunded or renewed
thereby have been or shall be ISSUED
! for any of the purposes specified IN sald
| Paragraph | Of this article, or IN nova
tion or renewal Of any bonds issued or
! to be issued for the said purposes spec
| flied in paragraph ! OF this article anu
| such issue or issues 50 refunded .! re-
newed have been or shall be authorlHe,i
bv a vote Of a majority in number anu
amount of the property taxpayers quail
! flied by a vote under the Constitution
| and laws of this State who voted or
| shall vote on the proposition AT an
election held for that purpose, when
the bonds of any outstanding issue snail
| have been obtained either by purchase
or exchange, the tax levy TO pay Tor
! such bonds shall at once cease and such
| bonds be Cancelled Each year while
any refunding bonds issued under this
| para graph are outstanding, the govern
| ing authorities of such subdivision shall
! levy and collect annually, in excess OF
! all other taxes. a tax sufficient TO pay
| the interest. annually or Semi-annualIY,
| and the principal falling due or such
amount as may be required for sink
| ing fund for the payment of said bonds
at maturity, provided that such special
| ad valOrem tax for all purposes shall
not in any year exceed ten mills on the
dollar Of the assessed valuation of the
! property in such subdivision.
The governing body of any such sub
I division shall have full power to adopt
and pass all ordinances and resolutions
necessary to carry the provisions of
! this paragraph into effect An election
| may be held under the provisions or
| this paraeraph at the same times and
nIaCes and bv the same election Off
GERS as an election on the question Of
! incurring debt and issuing bonds un.
der the provisions of said Paragraph l
| of this hrtirla
Where bonIs of arv subdivision have
been heretofore issued for any of the
nurnoses snenjfied in Paragranh Of this
! Article. and such issue has been author
| we'd hv thn yote of majority in mum.
! her ana amount of the properly tax
paveTs Qualified TO vote under the CON
stitution and laws of This state who
voted upon the proposition to issue such
! bonds ar an nIect;6n held for that our
nose and whero enrh bonds have been
| issued and sold nv such subdivision for
! NOT less than mar yalue thereof the
! said bonds or anv refund issue bonds
or renewal or ref,1nding bonds issued
| In novati0n or renewal Of bonds issued
! for cold nurnoses snaciFied in Para
granb : re krticla two hundred and
eigbtv one (aS1I ara. hereby validated
| ratified and confirmed; provided that
snch bonds did not at the time Of their
issue exceed ten per centum Of the as
sessed valuation Of the property in
sncb suh1ivision and such bonds here
Nv ratified annroved and confirmed
SHAH he deemed 70 be the valid and
incontestibIe obligations Of such sub
division and q tax for the payment of
the principal and interest thereof and
10 create sinking fund for the redemp-
ton shall be levied and collected in the
manner and within the limits prescribed
by said Paragraph l Of this Article
This entire Article Is 10 be considered