The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1912-10-19

provided however, tnat tne SoVefh,e
body of any such subdivision may In
their discretion and without vote OF
the property taxpayers, issue refunains
or renewal bonds under this paragraph,
If the bonds to be refunded or reneWeu
thereby have been or shall DC issueu
for any of the purposes specified in SAID
Paragraph l of this article, or in nova
ton or renewal of any bonds issued OF
to be issued for the said purposes spec
flied I'm paragraph 1 of this article. anu
such issue or issues so refunded or re-
newed have been or shall be authorized
by a vote of a majority IN NUMBER anu
amount of the property taxpayers quai,
flied by a vote under the Constitution
and laws of this State who voted OF
shall vote on the proposition at an
election held for that purpose When
the bonds of any outstanding issue snsii
have been obtained either by purchase
or exchange. the tax levy TO pay TOT
such bonds shall at once cease ana such
bonds be cancelled. Each year wniie
any refunding bonds issued unoer .,.as
paragraph are outstanding, the govern,
ing authorities of such subdivision snait
levy and collect annually. in excess OF
all other taxes. a tax sufficient 10 pay
the interest. annually or semi-annua, ~,
and the principal falling due or such
amount as may be required for SINK
/ ing fund for the payment or SAID ponuS
! at maturity, provided that sucn specla,
ad valorem tax Tor an purpsHisS s On ths
| dollar of the assessed valuation OF the
| property in such subdivision.
The governing body of any such SUD
| division shall have full power to ADOPT
and pass all ordinances and resolutions
necessary to carry the PROVISIONS OIL
| this paragraph into effect An eIecuos
| may be held under the provisions .,
| this paragraph at the same times ana
| places and by the same election off,
| GERS as an election on the question OF
| mourning debt and issuing bonds IN.
der the provisions of said Paragraph
Where bonds of any subdivision have
been heretofore issued for any of the
purposes specified in Paragraph OF tnis
i Article and such issue has been autnor-
ized by the vote of a majority In num-
her and amount of the property tax
payers qualified to vote under the Con
stitution and laws of this state WIZ
voted upon the proposition TO issue eucr
bonds at an election held for that pur-
pose and where such bonds have beer
issued and sold by such subdivision Iol
not less than par value thereot ts'
: said bonds or any refund issue oono,
or renewal or refunding bones ISSUED
, in aovation or renewal of bonds issue
} for said purposes specified In Para
graph / of Article two hundred ans
eighty one (2S1) are hereby validated
; ratified and confirmed; provided tina
. such bonds did not at the time OF thei
: issue exceed ten per centum OF the as
sessed valuation of the properly
such subdivision, and such bonds here
. shall be deemed to be the valid ant
incontestible obligations of such SUP
: division and a tax for the payment
e the principal and interest thereof an
D to create a sinking fund for the redemp
: ton shall be levied and collected In tn
. manner and within the limits rrescrioe
4 by said Paragraph l of this Article
: This entire Article is to be considere
r a full grant of power to the subdivision
n of the State as set forth therein.
9 Section 2. Be it further resolved, etc
n That this proposed amendment sna
: be submitted to the qualified voters Q
Q this State for adoption or rejection 2
Il November 1912, and. If adopted: IN
s same shall take effect immediatei
o Section 9. Be it further resolved. etc
8 That on the official ballots to be issue
IT at said election there shall be place
I the words For the proposed amendmeI
y to Article Two Hundred and Eighty-or
d Of the Constitution of Louisiana" an
e the words Against the proposed amend
n ment to Article Two Hundred ar
l. Eighty-one of the Constitution OF Loui
l. lana" and each elector shall indicat
IL as provided in the general election law
" of the State, which of the proposition
ID L. E. THOMAS.
I'd Speaker Of the House of Representative
THOMAS c. BARRETT,
u Lieutenant Governor and President
n the Senate
a Approved: July 9th, 1872:
h Governor o. the State of Louisian
re A true copy:
IN ALVIN E. HEBERT-
s, Secretary of State.
" Ant RO IA