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

nually or semi-annually, which bonds
shall not be sold for less than par:
and said Board Of Drainage Commits.
sloners shall levy annually upon said
land forced contributions or acreag
taxes in an amount sufficient Ia
MAINTAIN the drainage of said land,
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 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 $3.50
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-
nicipa 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 Q0) years, and bear.
ing interest at rate not exceeding
five 90 per centum per annum,
which bonds shall not be sold for less
than par, the avails of the residue
of the ten Q0) 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
sections, any person in in
terest may by summary proceedings
i'll 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 (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-
ending or unifying their bonded in.
1ebtedness, issue new bonds, cover
ng any particular issue or issues Of
ponds or the whole outstanding bond
ng Indebtedness incurred by such
subdivision for the purposes specified
n Paragraph l of this article or any
ssue of refund issue bonds or renew
Il or refunding bonds issued by such
in novati0n or renewal
md any bonds, heretofore or here.
lfter issued for the purposes speci-
led in said Paragraph / of this Ar
icle. No bonds issued under this
shall run for more than
orty (40) years from their date, nor
hall bear a greater rate of interest
han five per centum per annum,
ayable semi-annually or annually and
hall not be sold by such subdivision
sSuing the same for less than par.
my bonds issued under this Article.
lay be, either in whole or in part,
Exchanged value for value for bonds
'sued, under Article PSI, or to be is.
ued under said Paragraph l of this
.rticle, or sold and the proceeds
hereof used for the purpose of pur-
hasing outstanding bonds. Before
ny bonds shall be issued under this
the issuance thereof shall
e authorized by vote of MAORI
: in number and amount of the prop
sty taxpayers qualified to vote ur-
er the Constitution and laws of this
tate who vote on the proposition at
4 election held for that purpose, af-
II due notice of said election has
cen published, for thirty days in the
'ficial journal of the parish or par
hes in which said subdivisions are
Gated, or where there is no Off
al journal, in any newspaper pub
shed in such parish or parishes, ,
divided, however, that the govern
g body of any such subdivision may
their discretion and without a
tie of the property taxpayers, is
'e refunding or renewal bonds un'
II this paragraph, if the bonds to
refunded or renewed thereby
I've been or shall be issued for any :
the purposes specified in said Par
-ranh Of this Article or in nova
IN or renewal of any bonds issued