The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1912-08-31

per centum per annum payable an
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 an amount sufficient to
maintain the drainage of said land,
to pay the interest, annually or
semi-annually, 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 ($3.5O)
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 QO) 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 00) mill tax authorized
by Article 232 of the Constitution OF
Louisiana.
Paragraph S. 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 proceedings
| in the district court having jurisdic
ton, enforce the imposition or col
lection of such taxes, or both, and
such proceedings shall be filed anG
triable free to any cost to the litlgant
Paragraph 6. Municipal corpora
tons, 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 man
ner herein provided, may, for thu
purpose of readjusting, refunding, ex
tending or unifying their bonded in
debtedness, issue new bonds, cover
: ing any particular issue or issues o
bonds or the whole outstanding bond
ing Indebtedness incurred by sue
subdivision for the purposes speclfle
in Paragraph / of this article or an,
! issue of refund issue bonds or renew
, al or refunding bonds issued by sucl
) subdivision in novation or reneWa
and any bonds, heretofore or here
J after issued for the purposes spec
fled in said Paragraph 1 of this Al
: ticle. No bonds issued under TIL
: paragraph shall run for more tina
= forty (40) years from their date, no
shall bear a greater rate OF lnteres
than five per centum per annum
payable annually or annually an
2 shall not be sold by such subdlVlslo
: issuing the same for less than pal
5 Any bonds issued under this Artlcl'
: may be, either in whole or in par
Y exchanged value for value for bono
e issued, under Article 2S1, or to be Ii
: sued under said Paragraph l OF I'M
4 Article, or sold and the proceed
: thereof used for the purpose OF pul
S chasing outstanding bonds. Befor
e any bonds shall be issued under tn
t paragraph the issuance thereof sna
: be authorized by a vote of major
: tv in number and amount OF the pro
+ erty taxpayers qualified to vote III
d der the Constitution and laws of tn
5 State who vote on the proposition
e an election held for that purpose, a
S ter due notice of said election M
e been published, for thirty days in II
Is official journal Of the parish or pa
r ishes in which said subdivisions al
II located, or where there is no or
c cial journal, in any newspaper pu
# lished in such parish or parlshe
J. provided, however, that the COVER
y ing body of any such subdivision M
l. in their discretion and without
e vote of the property taxpayers,
sue refunding or renewal bonds u
d der this paragraph, if the bonds
= be refunded or renewed therel
re have been or shall be issued for al
u of the purposes specified in said ia
s. aoranh I of this Article, or in nov