The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-09-26


,ay for such bonds shall at once d
ease and such bonds be cancelled II
Zach year while any refundng bonds e
ssued under this paragraph are out L
standing, the governing authorities OF t
such subdivision shall levy and col
ect annually, in excess of all other
taxes. a tax sufficient to pay the IN |
[erest, annually or semi-annuallys and +
the principal falling due or such $
amount as may be required for t
sinking fund for the payment OF SAID l
bonds at maturity, provided that such
special ad valOrem tax for all pur- {
poses shall not in an year exceed '
ten mills on the dollar Of the assess {
ed valuation of the property in such ;
subdivision.
The governing body of any such
subdivision shall have full power to I
adopt and pass all ordinances and
resolutions necessary to carry the pro-
visions of this paragraph into effect.
An election may be held under the
provisions Of this paragraph at the
same times and places and by the
same election officers as an election
on the question of mourning debt
and issuing bonds under the proyls'
ions of said Paragraph 1 of this Ar
ticle.
Where bonds of any subdivision
have been heretofore issued for any
Of the purposes specified in Para
graph l. of this Article, and such is
sue has been authorized by the vote
OF a. majority in number and amount
OF the property taxpayers qualified
to vote under the Constitution and
laws of this State who voted upon
the proposition to issue such bonds
at an election held for that purpose
and where such bonds have been is
sued and sold by such subdivision for
not less than par value thereof, for
said bonds or any refund issue bonds
Or renewal or refunding bonds is
sued in novation or renewal Of bonds
issued for said purposes specified IN
Paragraph l of Article two hundred
and eighty.one (2SD are hereby vail
dated, ratified and confirmed; provid
ed that such bonds did not at the
time of their issue exceed ten pei
centum of the assessed valuation o.
the property in such subdivision, ant
such bonds hereby ratified, approved
and confirmed shall be deemed to b
!. the valid and incontestible obligation
> of such subdivision and a tax for th'
payment of the principal and inter
est thereof and to create SINKING
= fund for the redemption shall be lie
We'd and collected in the name
and within the limits prescribed b,
:, said Paragraph l of this Article. Thi
entire Article is to be considered
:: full grant of power to the subdivis
ions of the State, as set forth there
: in.
. Section 2. Be it further resolved
ETC., That this proposed amendmen
= shall be submitted to the qualifie
voters of this State for adoption Q
:, rejection at the Congressional elet
= ton to be held in November, 191:
and, if adopted, the same shall tax
!, effect Immediately thereafter.
:. Section 3. Be it further resolved
- etc., That on the official ballots to b
= issued at said election there shall
placed the words ''For the propose
- amendment to Article Two Hundre
" and Eighty-one of the Constitution Q
Louisiana and the words "Agains
= the proposed amendment to Articl
:. Two Hundred and Eighty-one of tn
!" Constitution of Louisiana and eacl
elector shall indicate, as provided il
= the general election laws of tn
State, which of the propositions
. For" or Against he votes.
u L. E. THOMAS,
l Speaker of the House of Represen
% tatives.
IL THOMAS C. BARRETT,
r Lieutenant Governor and Presiden
e of the Senate.
+ Approved July 9th, 1912.
D. l.. E. HALL,
5, Governor of the State of Louisiana
u A true copy:
y ALVIN E. HEBERT,
a Secretary of State.
% ACT NO. 1873.
" Senate Bill No. l.
r. By Mr.. Geo. Wesley Smith
- JOINT RESOLUTION
- Proposing an amendment to Articl