The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1912-08-30


body of any such subdivision may III
their discretion and without vote OF
the property taxpayers, issue refundlne
or renewal bonds under this paragraph,
If the bonds to be refunded or renewed
thereby have been or shall be issued
for any Of the purposes specified IN SAID
Paragraph ! Of this article, or IN nova
tion or renewal Of any bonds issued or
to be issued for the said purposes spec,
flied in paragraph of this article. ana
such issue or issues SO refunded or re-
newed have been or shall be authorlzea
by vote Of a majority in number ana
amount of the property taxpayers quail
flied by a vote under the Constitution
and laws Of this State who voted or
shall vote on the proposition ut an
election held for that purpose. When
the bonds of any outstanding issue snail
have been obtained either by purchase
or exchange, the tax levy to pay TOT
such bonds shall at once cease and such
bonds be Cancelled. Each year Wnlie
any refunding bonds issued under TINS
paragraph are outstanding. the govern,
ing authorities Of such subdivision snail
levy and collect annually. In excess OF
all other taxes. a tax sufficient to pay
the interest annually or semi-annualiyy'
and the principal falling due or such
amount as may be required for a SINK
ing fund for the payment or salu poiiuS
at maturity provided that such speclai
ad valorem tax for all purposes shaii
not in any year exceed ten mills on tle
dollar of the assessed VALUATION ol the
property in such subdivision.
The governing body of any such SUD
division shall have full power to ADOPT
and pass all ordinances and reSolutioi!s
necessary to carry the provisions OF
this paragraph into effect. An election
may be held under the provisions OF
this paragraph at the same times ana an,
places and by the same election OIL
GERS as an election on the question OF
mourning debt and issuing bonds uh,
der the provisions of said Paragraph l
of this Article.
Where bonds of any subdivision have
been heretofore issued for any or the
purposes specified in Paragraph l or TINS
Article. and such issue has been author-
lied by the vote of majority III mum
Der and amount of the properly TAX
PAYERS qualified to vote under the Con-
stitution and laws of this State WHO
voted upon the proposition to issue such
bonds at an election held for that pur-
pose and where. such ponds have been
fs$ifcd and sold by such subdivision for
not less than par value thereof the
said bonds or any refund issue bonds
or renewal or refunding bonds ISSUED
in novation or renewal of bonds issue l
graph / of Article two hundred and
eighty one esd are hereby validated,
ratified and confirmed: provided that
such bonds did not at the time of their
issue exceed ten per centum OF the as
sessed valuation of the property in
such subdivision, and such bonds here
by ratified, approved and confirmed
shall be deemed to be the valid and
incOntestible obligations of such sub
division and tax for the payment of
the principal and interest thereof and
to create sinking fund for the redemp-
ton shall be levied and collected in the
manner and within the limits prescribed
by said Paragraph 1 of this Article
This entire Article is to be considered
full grant of power to the subdivisions
of the State as set forth therein.
Section 2. Be it further resolved. etc:
That this proposed amendment shall
be submitted to the qualified voters OF
this State for adoption or rejection at
the Congressional election to DC held IN
November. 1912, and, If adopted. the
same shall take effect Immediately
thereafter.
Section 3. Be it further resolved, etc
That on the official ballots to be issued
at said election there shall be placed
the words For the proposed amendment
to Article Two Hundred and Eighty-one
of the Constitution of Louisiana and
the words Against the proposed amend.
ment to Article Two Hundred and
Eighty-one Of the Constitution of Louis
lana" and each elector shall indicate
as provided in the general election laws
Of the State. which of the propositions
For or Against" he votes.
L. f. THOMAS,
Speaker of the House of Representatives
THOMAS c. BARRET.
Lieutenant Governor and President OF
! the Senate.
| Approved July 9Th. 1912.
l.. E. HALL.
Governor of the State Of Louisiana
A true copy:
ALVIN F. HEBERT
Secretary of State.