The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-08-31
CONSTITUTIONAL.
AMENDMENTS

saasRhaE L. ERB@ aN -
EXTRA SESSION 1912
ACT MO. 4.
senate Bill No. q. BY Mr.. Voegtle.
JOINT resolution submitting to the
people of the State of Louisiana an
amendment to the Constitution au-
thorizing parishes and self-taxing mu-
lilclpalltles to exempt new industrial
tGnL'erprlses and also improved value,
inclusive of structures added to unim-
proved lands by immigrants into the
Slate, VINO occupy said lands as home
steads from local taxation for period
not exceeding ten (lo) years.
Section l. Be it resolved by the
General Assembly of the State of Lou
lslana, tWo-thirds of all the members
elected e,l to each house Nconcurring, That
s1e tteonoWlng amendment to the Con-
stltut1on of the State of Louisiana be
ana 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 salf-taxing NUM-
e1pality shall have the right to exempt
improved value added to unimproyed
lands, including ali structures thereon,
by immigrants into the State who oc-
cupy said lands as homesteads, from To-
(1O) years by the vote of two-thirds In
number of all it's taxpayers, who are
Qualified electors, including resident
women taxpayers, holding at least two
taxation within the taxing locality at
special election called for that purpose
at Which special electfon members of
partnerships. associations and heirs Of
entitled to vote their respective pro rata
OF the assessed valuation of said part
nersh1ps, associations or estates. Each
enterprise so exempted must be situat-
authority and be established after the
exemption is granted.
K Section 2. Be it further resolved,
etc, That there shall be printed on
the words: For the constitutional
amendment authorizing parishes and
self-taxing municipalities to exempt new
industrial enterprises and also improv-
to unimproved lands by immigrants
into the State who occupy said lands
as nomesteads, from local taxes for a
period not to exceed ten (1e) years." and
authorizing parishes and self-taxing
municipalities to exempt new industrial
enterprises, and also improved value
including structures, added to unim-
State who occupy said lands as home
steads, from local taxes for a period
not to exceed ten l10) years." and each
elector shall indicate on his ballot as
the State whether he votes for or
against the said amenument
THOMAS C. BARRET,
eutenant Governor and President of
L. E. THOMAS,
Speaker of the House Of Representative
Approved: August oath, 1912
Governor Of the state :. Of T: louisiana enlai
ALVIN 3. HEBERT.
Secretary of State.
ACT NO. 6.
Senate Bill No. 8. BY Mr.. Burke.
Joint resolution submitting to the
people of Louisiana an amendment TO
ton for twenty t2o) years corporations
organized to lend money on mortgages
on country property at not more than
six CO per cent interest net to the
and securities of local taxing districts.
Section i. Be it resolved by the Gem
eral Assembly of the State of Louisiana,
tWo-thirds of all the members elected to
9aCl UOuSC COllCuIIlISy& IildL Lie YO1IOW-
ing amendment to the Constitution of
the State of Louisiana be and the same |
is hereby submitted to the qualified
electors of the State at the congress
sfonal election to be held on the first
Tuesday after the first Monday in the
month of November, of the year 1912, to-
wit:
The capital, surplus and personal es-
tate of every corporation hereafter or
ganized in this State for the sole pur-
pose of lending money on mortgages on
property situated in Louisiana
ut a rate of interest not to exceed six
(6) per cent net to the borrower, with
power to negotiate and handle bonds
and securities issued by the various par
shes and local districts and municipali-
lies of the State of Louisiana shall
oe exempt from taxation for twenty (20)gI
years from the date of the organization |
Of each of said companies, provided that
each Of said companies shall have a full !
paid cash capital stock of not less than
s250,000.00, and provided further that
n case any such corporation shall on /
any loan charge the borrower more than
six per cent interest, whether by way of
commission, discount, or otherwise, it /
shall forfeit the entire exemption here
n granted and be subject to taxation
from the time it makes such loan; and
my such corporation handling or ne
,otiating any SECURITIES other than those !
lereinaboye mentioned shall incur a like /
forfeiture
No such corporation shall have power
o receive any money on deposit or to
10 a banking business of any sort, but
LII such corporations shall be under
he control and supervision of the State
Bank Examiner, whose duty 1t shall be
o report to the Attorney General and
he State Tax Commission any viola
ion of the condition OF this exemption.
Section 2. Be it further resolved, etc,
That there shall be printed in the
BALLOTS to be used at said election the
words For the amendment to the Com
titution exempting from taxation for
wenty (20) years corporations organIz-
d for the sole purpose of lending money
N country real estate situated n Lou
siana at not more than six (6) per
ent to the borrower, with power to ne
rotate and handle local securities" and
he words. Against the amendment to
he Constitution exempting from taxa
ion for twenty f2o) years corporations
rganized for the sole purpose Of lend
ne money on country real estate situat-
d in Louisiana at not more than six
81 per cent net to the borrower. with
over to negotiate and handle local
and each electors shall in
icate on his ballot, as provided by the
.apara1 alacti0r laws of the State,