The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-08-29

per cehtum per annum payable an
hually or semi,annually, which bonds
shall not be sold for less than par:
ana SAID Board Of Drainage Commits.
sloners 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
seml'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 ga. 500
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 a period not
exceeding ten (10) 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 QO) mill tax authorized
by Article 232 of the Constitution of
Louisiana.
Paragraph 5. Should any of the
subdivisions of the State neglect or
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
III the district court having jurisdic-
ton, enforce the imposition or COL
lection of such taxes. or both. and
such proceedings shall be filed and
triable free to any cost to the litigant.
Paragraph 6. Municipal corpora.
tons, parishes and school, drainage.
subdrainage, road. subroad. naviga.
ton and sewerage districts 1.-THE City
of New Orleans excepted,) herein
after referred to as subdivisions.
when authorized to do so In the man
ner herein provided. may, for the
purpose of readjusting. refunding. ex.
tending or unifying their bonded in
debtedness. issue new bonds. cover.
ing any particular issue or issues Of
bonds or the whole outstanding bond.
ing indebtedness incurred by such
for the purposes specified
in Paragraph l of this article or any
issue of refund issue bonds or renew.
al or refunding bonds issued by such
in novation or renewal
and any bonds, heretofore or here.
after issued for the purposes speci.
fled in said Paragraph l Of this Ar.
ticle. No bonds issued under this
paragraph shall run for more than
forty (40) years from their date. nor
shall bear a greater rate Of interest
than five per centum per annum.
semi.annually or annually and
shall not be sold by such subdivision
issuing the same for less than par.
Any bonds issued under this Article,
may be, either in whole or in part.
exchanged value for value for bonds
Issued, under Article PSI, or to be is.
sued under said Paragraph Of this
Article. OF. sold AID the proceeds
hereof used for the purpose Of pur'
chasing outstanding bonds. Before
any bonds shall be issued under this
paragraph the issuance thereof shall
be authorized by vote OF a MAORI
y in number and amount Of the prop |
,rty taxpayers qualified to vote un.
Ter the Constitution and laws of this |
State who vote on the proposition at
IN election held for that purpose, at.
ter due notice of said election has
,een published. for thirty days in the
official journal Of the parish or par
shes in which said subdivisions are
located, or where there is no off,
:ial journal, in any newspaper pub
ished in such parish or parishes,
however, that the govern.
ng body of any such subdivision may
n their discretion and without
1tte of the property taxpayers. is
sue refunding or renewal bonds un'
Ter this paragraph, IL the bonds to
'e refunded or renewed thereby
rave been or shall be issued for any
# the purposes specified In said Par.