The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1912-10-12

Z LClA 10 Io ouDuIF ISlOIlS VI the > ID u
S authorized by a vote of ma
}, jorit.in number and amount of the
0 prorty taxpayers, qualified to vote
uuds the Constitution and laws OF
s. this'tate, who vote at an election
e heldor that purpose, after due 70
d ticof said election has been pub
d Flisa for thirty days in the official
ID joual of the municipal corporation
g orTish or where there is no Off
g cl5ournal, in a newspaper publish
u eherein, may, through their respec-
1f tiHgoverning authorities incur debt
u alissue negotiable bonds therefor,
d a each year while any bonds thus
E. led are outstanding, the governing
Of aaorities of such subdivisions shall
h lose and collect annually, in eX-
s. g of all other taxes, a tax suffi-
m at to pay the interest, annually or
O. ni-annually, and the principal fall
1t { due each year, or such amount
r. may be required for any sinking
in nd necessary to retire said bonds a
r aturity; provided that such special
lie xes, for all purposes as above set
lyrth shall not in any year exceed
oan mills on the dollar of assessed
toaluation of the property in such
0nbdivisions.
g. No bonds shall be issued for any
Sther purpose than that stated in the
Of the proposition to the
taxpayer, and published for thirty
goo 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
streets, roads and alleys,
and constructing systems
of waterworks, sewerage, drainage,
lights, public parks and
together with all necessa-
ry 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
bends run for a longer period than
forty (40) years from their date or
bear a greater rate Of interest than
five per centum 60 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 Q0) of the assessed val
uation of the property in such subdi-
Municipal councils are grant
ed the authority to create within
their 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
1ereinabove 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 MAORI
y in number and amount of the prop
,rty taxpayers Of said district quail
led to vote under the Constitution
md laws, who vote at an election
leId for that purpose, may impose
md collect for a period not exceed
ng forty years forced contributions
" acreage taxes not exceeding fiji |
y cents per acre per year on every |
ere Of land in the subdivision where !
UGH an election is held. The gov
rning authority of such subdivision |
yhen authorized as set forth, may in
ur debt and issue negotiable bonds |
o represent same, secured by the
axes above described provided that
he total amount of debts thus incur
ed or bonds issued, shall never ex.
eed in principal and interest the ag-
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
hall be issued for any other purpose
han that for which said contributions
r acreage taxes were voted, run for
longer period than forty years, bear
greater rate of interest than five
err centum per annum or be sold for
,ss than par. All bond issues here
,fore authorized by taxpayers in any
ubdivision at any election not con-
ssted on any ground of fraud, are
ereby recognized and validated.
Paragraph 3. When the character OF
ny land is such that it must be le-
eed and pumped in order to be
rained and reclaimed, the Board of
rainage Commissioners of the Dis
let in which the land it situated,
hall, upon the petition of not less
ian a majority in acreage of the
roperty taxpayers, resident and non
- h. <n hn offpofnd