The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1912-03-29
Law of Interest.
House Bill No e

ISc4 VI bi$
Code of 1906, Chapter 1877 of the Laws
OF 1908, relating to exemption from
taxation so as to embrace within such
exemption all money loaned at a rate of
interest not exceeding six per cent per
annum.
Section l. Be it enacted by the Leg
islature of the State of Mississippi, |
Thst Section 4251 of the Code of 1906
and Chaner 1877 of the Laws of 1908,
~amendatory to said section, be and the
same are hereby amended so that said
Section and amendment thereto shall
read as follows:
Section 425l. What Property Exempt
The following property and no other
shall be exempt from taxation, to-wit:
(a) All cemeteries used exclusively
for burial purposes.
(b) All property real or personal be-
longing to the United States. ..
(c) All property real or personal be-
longing to this State or to any county,
levee board or municipal corporation
thereof.
d) All property real or personal be-
longing to any religious or charitable
society," and used exclusively for the
purpose OF such society and not for
profit. All property real or personal,
belonging to any college or institution
for the education of youth used directly
and exclusively for such purpose. p
(e) All property, real or personal,
held and occupied by trustees of schools
and school lands of the respective town.
ship for the use of the public schools.
), D All property appropriated to and
occupied and used by any hospital or
charitable institution,
Q) Wearing Apparel of every per-
son, not including watches and jewelry.
(h) Provisions on hand for family
consumption.
G) All farm products raised in this
State in the hands of the producer.
ID One gun for each owner kept fol
private use.
(k) All poultry.
>, CD Household furniture not to ex
e coed two hundred and fifty dollars il
!. value.
(m) Two cows and calves.
(n) Twenty head of sheep and goat
each.
(o) All colts foaled in this State TN
der three years old.
(p) Farming implements used TO
d agricultural purposes.
(q) All property of agricultural an
mechanical associations and of fair
e used in promoting their objects.
(r) The libraries of all persons.
(s) All pictures and works of al
not kept or offered for sale as merchar
disc.
() The tools of any mechanic neces
sary for carrying on his trade.
(u) Ten head of hogs.
W. All permanent factories or plant
of the kind hereinafter named, whic
are now in the course of establishment
or shall be hereafter established in IT,.
!. State before the first day of Januar.
1910, shall be exempt from all Stat'
he county and levee taxation for a peric
III of five years, viz:
-, All factories and plants for workin
t. cotton, cement, cement plaster an
lime, rock and stone, jute, ramie, wo'
silk, furs or metals, or for manufactuI
ing machinery or instruments, or art
cles in a finished state, or for maxim
wagons, carriages, buggies. furniture
clothing or shoes, and all creamerie
Such exemption to commence from tt
4" date of the charter, or if not chartere
from the date of commencement OF o.
h Grafton. A corporation or person clam
A ing exemption under the provisions
l. this paragraph w shall apply in wrl
in ing to the auditor of public account
ril giving full inflammation as to the pro
ng erty proposed to be exempt, the kin
I'D of articles to be manufactured, t
ed date from which exemption is elaine
IN and the auditor, with the written adv
Of of the attorney general shall determi
whether the property is exempt. I
auditor shall notify the chancery Gle
rk of the county in which any enterpr
is so exempt, stating distinctly
property exempt, and the date WI
such emptton began and ends, and
III chancery clerk shall record such sta
ment in a book to be kept in this OIL
for that purpose, all decisions a
opinions and statements furnished
u,o chancery clerks relative to exempt
Municipalities may grant like exer
mi lions for a period not exceeding
ma wears. None CT the provisions her
contained shall apply to factories WI
the belong to a trust, pool or combine
said (w) All State, county, municil
\ D, leyee or school bonds or other COVE
sne ment obligations issued after the I
,s,s, day of April, 1905, and all notes
--.-.