The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1912-11-02

bonds Of any outstanding issue shal
have been obtained either by pur
chase or exchange, the tax levy t,
pay for such bonds shall at one
cease and such bonds be Cancelled
Each year while any refunding bond
issued under this paragraph are out
standing, the governing authorities 0
such subdivision shall levy and col
lect annually, in excess of all Othel
taxes, tax sufficient to pay the in
terest, annually Or semi-annually, ant
the principal falling due or such
amount as may be required for {
sinking fund for the payment Of sale
bonds at maturity, provided that sucl
special ad Valorem tx for all pur
poses shall not in any year exceed
ten mills on the dollar of the assess
ed valuation of the property in such
subdivision.
The governing body Of any such
subdivision shall have full power tC
adopt and pass all ordinances and
resolutions necessary to carry the pro
visions Of this paragraph into effect
An election may be held under the
provisions Of this paragraph at the
same times and places and by the
same election officers as an election
on the question of mourning debt
and issuing bonds under the provis
ions of said Paragraph 1 of this Ar.
ticle.
Where bonds of any subdivision
have been heretofore issued for any
of the purposes specified in Para
graph l of this Article, and such is.
sue has been authorized by the vote
Of a majority in number and amount
OF the property taxpayers qualified
to vote under the Constitution and
laws Of this State who voted upon
the proposition to issue such bonds
at an election held for that purpose
and where such bonds have been is.
sued and sold by such subdivision for
not less than par value thereof, f3r
said bonds or any refund issue bonds
OF renewal or refunding bonds is.
sued in novati0n or renewal of bonds
Issued for said purposes specified IN
Paragraph l of Article two hundred
and eighty-one (28D are hereby vail
dated, ratified and confirmed; provid-
ed that such bonds did not at the
time Of their issue exceed ten Der
centum Of the assessed valuation Of
the property in such subdivision. and
such bends hereby ratified, approved
and confirmed shall be deemed to be
the valid and incontestible obligations
OF such subdivision and a tax for the
payment of the principal and inter
est thereof and to create a sinking
fund for the redemption shall be le-
We'd and collected in the manner
and within the limits prescribed bv
said Paragraph I of this Article. This
entire Article is to be considered
full grant Of power to the subdivis-
IONS Of the State, as set forth there
in.
Section :. Be it further resolved, |
ETC., That this proposed amendment
snail be submitted to the qualified
'oters Of this State for adoption or
election at the Congressional cleo
ion to be held in November, 1912,
nd, if adopted, the same shall take l.
fleet Immediately thereafter.
Section 3. Be it further resolved,
tc., That on the official ballots TO be
5sued at said election there shall be
laced the words For the proposed
mendment to Article Two Hundred ,
nd Elghty-one Of the Constitution of +
and the words against :
lie proposed amendment to Article :
Wo Hundred and Eighty.one Of the =
constitution Of Louisiana" and each =
ector shall indicate, as provided in .
lie general election laws of the :!
late, which Of the propositions, g
Tor' or Against" he votes. -
L. E. THOMAS. E,
oeaker of the House Of Represen- :,
tatiyes. =.
THOMAS C. BARRETT, :,
eutenant Governor and President g.
Of the Senate. =,
1proYed July 9th, 1912. =,
L. E. HALL. -
'Vernor Of the State of Louisiana. -,
true copy: ~
ALVIN E. HEBERT, ~
Secretary of State. 49,
ACT NO. 1873. nc
nate Bill No. 1. qr