The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-10-17

per centum per annum payable all
nually or semi-annually, which bonds
shall not be sold for less than par;
and said Board Of Drainage Commits
sioners shall levy annually upon said
land forced contributions Or acreage
taxes in al amount sufficient 10;
maintain the drainage Of said land,
to pay the interest, annually or
semiannually, and the principal fall
ing due each year, or such amount
as may be required for any sinking
fund provided for payment OF said
bends at maturity, provided, that such
forced contributions or acreage taxes,
for all purposes shall never exceed
Three Dollars and Fifty Cents $3.50
per acre per annum.
Paragraph 4. The police juries Of
the various parishes throughout the
State, for the purpose of construct
ing highways and public buildings for
the parish, and the governing au.
thorities of municipal corporations,
for the purpose Of paving or improv-
ing streets or alleys, and for all mu-
nicipal improvements, after making
provision for the payment Of all stat
utory and ordinary charges, may fund
into bonds running for period not
exceeding ten 10) years, and bear
ing interest at a rate not exceeding
five 60 per centum per annum,
which bonds shall not be sold for less
than par, the avails of the residue
of the ten 1O mill tax authorized
by Article 232 of the Constitution OF
Louisiana.
Paragraph 5. Should any Of the
subdivisions of the State neglect OF
fail for any reason to impose or cal
lect the taxes provided for in the
foregoing sections, any person in IN
terest may by summary proceeding:
III the district court having jurisdic
ton, enforce the imposition or col
lection of such taxes, or both, ant
such proceedings shall be filed AM
triable free to any cost to the litigant
! Paragraph 6. Municipal corpora
lions, parishes and school, drainage
subdrainage, road, subroad, navlga
ton and sewerage districts (the Cit
of New Orleans excepted.) herein
after referred to as subdivisions
when authorized to do so in the mar
ner herein provided, may, for tn
purpose of readjusting, refunding, e.
tending or unifying their bonded il
debtedness, issue new bonds, cove1
ing any particular issue or issues {
bonds or the whole outstanding bon'
ing Indebtedness incurred by sue
subdivision for the purposes specific
in Paragraph l of this article or an
, issue of refund issue bonds or rene1
/, al or refunding bonds issued by sue
!, subdivision in novation or renew
: and any bonds, heretofore or her
, after issued for the purposes spet
fled. in said Paragraph of this A
}, ticle. No bonds issued under tn
: paragraph shall run for more TIA
\ forty (40) years from their date, N
!. shall bear a greater rate Of intere
4 than five per centum per annu1
4 payable semi,annually or annually al
e shall not be sold by such subdivlsie
+ issuing the same for less than pa
s Any bonds issued under this ArtHl
;. may be, either in whole or in pal
y exchanged value for value for bon'
E issued, under Article PSI, or to be
:. sued under said Paragraph 1 OF tn
Il Article, or sold and the proceed
/ thereof used for the purpose OF pu
S chasing outstanding bonds. Befo
e any bonds shall be issued under tn
t paragraph the issuance thereof shs
= be authorized by vote OF a mayor
(. ty in number and amount OF the Pre-
= erty taxpayers qualified to vote Il
4 der the Constitution and laws OF tn
s. State who vote on the proposition
I'll an election held for that purpose,
S ter due notice of said election II
e been published, for thirty days in t
Is official journal of the parish on pa
n ishes in which said subdivisions a
IF located. or where there is no OF
e cial journal. in any newspaper pu
n lished in such parish or parishe
= provided, however, that the COVER
y ing body of any such subdivision M
/. in their discretion and without
e vote of the property taxpayers,
sue refunding or renewal bonds u
Of der this paragraph, if the bonds
F. be refunded or renewed there
,e have been or shall be issued for al
II Of the purposes specified in said "a
s. asraph of this Article, or in nov
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