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

| nave Httu OuldiAcu SituSi y. p"I
chase or exchange, the tax levy 10
pay for such bonds shall at once
cease and such bonds be Cancelled.
Each year while any refunding bonds
issued under this paragraph are out
standing, the governing authorities OF
such subdivision shall levy and col
lect annually, in excess Of all other
taxes, a tax sufficient to pay the in
terest, annually or semi.annually, and
the principal falling due Or such
amount as may be required for a
sinking fund for the payment Of said
bonds at maturity, provided that such
special ad valorem tax 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 to
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 l of this Ar
ticle.
-. Where bonds of any subdivision
have been heretofore issued for any
), of the purposes specified in Para.
:. graph / 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 upor
the proposition to issue such bond:
;. at an election held for that purpose
and where such bonds have been is
-, sued and sold by such subdivision fc
:, not less than par value thereof, f.
:, said bonds or any refund issue bond
: or renewal or refunding bonds is
!, sued in novation or renewal Of bond
= issued for said purposes specified i
- Paragraph l of Article two hundre
and eighty.one (2S1) are hereby val
y dated, ratified and confirmed; provit
ed that such bonds did not at tn
~ time of their issue exceed ten pc
centum of the assessed valuation {
=. the property in such subdivision. an
such bonds hereby ratified, approve
end confirmed shall be deemed to /
=. the valid and incontestible obligation
" of such subdivision and a tax for Il
y. payment of the principal and int
~ est thereof and to create sinkir
~ fund for the redemption shall be !
~ We'd and collected in the mann,
=. and within the limits prescribed |
-, sdd Paragraph. of this Article. Til
49, entire Article is to be considered
~; full grant of power to the subdivi
ions of the State, as set forth ther
is in. s
~ Section 9. Be it further resolve
-, ETC., That this proposed amendme
,st shall be submitted to- the Qualifi'
-, voters of this State for adoption
"a rejection at the Congressional ele
IN ton to be held in November, 191
~ and, if adopted. the same shall tai
"a effect Immediately thereafter.
- Section 3. Be it further resolve
-. ETC., That on the official ballots to
;. issued at said election there shall
;. placed the words For the propose
-. amendment to Article Two Hundr'
49, and Eighty.one of the Constitution
= louisiana" and the words Again
=. the proposed amendment to Artic
-, Two Hundred and Eighty-one Of Il
az Constitution of Louisiana" and ea'
- elector shall indicate, as provided
" the general election laws Of 4
-" State, which OF the proposition
n'a For" or Against he votes.
al l.. E. THOMAS,
d. Speaker of the House Of RepTese
'"' tatiyes.
ne THOMAS C. BARRETT,
az Lieutenant Governor and Preside
ne of the Senate. ...
LIZ Approved July 9th, 1912.
uD' l.. E. HALL,
es, Governor of the State of Louisian
A frye copy:
lay ALVIN E. HEBERT,
Secretary Of State.
to ACT NO. 1873.
ny Senate Bill No. l.
ar BY Mr.. Geo. Wesley smit
va
led JOINT RESOLUTION