The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-10-24

Nueu duluOl4Ltu w d Que OF Il ma
jority, in number and amount Of the
property taxpayers, qualified to vote
under the Constitution and laws of
this State who vote at an election
held for that purpose, after due no
tice of said election has been pub
lished for thirty days in the official
journal of the municipal corporation
or parish or where there is no Off.
cial journal, in newspaper publish
ed therein, may, through their respec-
tive governing authorities incur debt
and issue negotiable bonds therefor,
and each year while any bonds thus
issued are outstanding, the governing
authorities of such subdivisions shall
impose and collect annually, in ex-
cess Of all other taxes, a tax suffi-
cient 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 necessary to retire said bonds at
maturity; provided that such special
taxes, for all purposes as above set
forth shall not in any year exceed
ten mills on the dollar of assessed
valuation of the property in. such
subdivisions.
No bonds shall be issued for any
other purpose than that stated in the
submission of the proposition to the
taxpayer, and published for thirty
(3O) days as aforesaid, or for a great
er amount than therein mentioned;
nor shall such bonds be issued for
any other purposes than the construct.
ing, improving and maintaining pub.
lie roads and highways, paving and
improving streets, roads and alleys,
purchasing and constructing systems
of waterworks, sewerage, drainage,
navigation, lights, public parks and
buildings, together with all necessa-
~ equipments and furnishing, bridges
and other works of public improve
ment, the title to which shall rest in
the subdivision creating the debt, as
the case may be; nor shall such
bonds run for longer period than
forty (40) years from their date or
bear a greater rate of interest than
five per centum 90 per annum, or
be sold for less than par. The total
issue of bonds by any subdivision for
al. purposes shall never exceed ten
per centum (10) of the assessed val
lation of the property in such subdi-
visions. Municipal councils are grant.
I'd the authority to create within
heir limits one or more sewerage
districts.
Paragraph 2. Police juries in any
parish or parishes may in accordance
With law create drainage districts,
which. in addition to the powers
lereinabove granted, shall have fur
her power and authority to provide !
md maintain drainage systems and
he governing authorities of such dis.
riots, when authorized by a MAORI
y III number and amount of the prop
rty taxpayers of said district quail
led to vote under the Constitution
nd laws, who vote at an election
eld for that purpose, may impose
nd collect for a period not exceed.
ng forty years forced contributions
r acreage taxes not exceeding fiji.
y cents per acre per year on every
Gre Of land in the subdivision where
UGH an election is held. The gov.
rning authority Of such subdivision
hen authorized as set forth, may in
ur debt and issue negotiable bonds
D represent same, secured by the
axes above described provided that
ne total amount of debts thus incur.
ed Or bonds issued, shall never eX.
eed in principal and interest the az.
regate amount to be raised by said {
nnual contributions or acreage taxes {
uring the period for which the same .
re imposed and that no such bonds I
hall be issued for any other purpose ,
IAN that for which said contributions r
r acreage taxes were voted, run for i
longer period than forty years, bear |
greater rate of interest than five =
er centum per annum or be sold for
'ss than par. ALL bond issues here
'fore authorized by taxpayers in any !
lbdivision at any election not con. :
ssted on any ground of fraud, are ,
ereby recognized and validated.
Paragraph 8. When the character Of !
ny land is such that it must be lie. +,
eed and pumped in order to be
cained and reclaimed, the Board of .
Commissioners of the Dis [.
let in which the land it situated :
lall uDOn the notif;nn ne not ,