The Caldwell watchman. (Columbia, La.) 1885-1946, 1912-10-04

, provided, however, tnaL the governing
| body OF any such subdivision NAV In
! the property taxpayers, issue refunding
or renewal bol.ds ,nder this paragra,'
! If the bonds to he refunded Or renewt.
| thereby have been OR shall be ISSUED,
| for any Of ths purposes specified in sa,n
Parag iaph l OF this article or in nova.
ton or renewal of any bonds ISSUED or
| TO be issued for the said purposes spcr
such issue or issues SO refunded or re-
Eewci have been or shall be authorized
by a vote Of majority in number ana
| amount OF tic property taxpayers uunl-
! flied by Il vote under the Constitution
I and laws of this State who voted or
shall vote on the proposition at an
election held for that purpose. When
the bonds Of any outstandlg issue shah
! have been obtained either by purchas.
or exchange. the tax levy to pay for
such bonds shall at once cease and such
bonds be Cancelled. Each year wbila
any rcfunding bonds issued under this
paragraph are outstanding. the govern
ing authorities Of such subdivision shall
levy and collect annually in excess of
all other taxes. tax sufficient to pay
the interest. annually or semiannually
and the principal falling due or such
amount as may he required for sink.
ing fund for the payment Of said bonds
at maturity provided that such special!
ad valorem tax for all purposes shall
not in any year exceed ten mills on the
dollar Of the assessed valuation Of the
property in such subdivision
The governing body Of any such sub.
division shall have full power to adopt
and pass all ordinances and resolutions
necessary to carry the provisions 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 Off
GERS as an election on the question Of
mourning debt and issuing bonds un.
Of this Article.
Where bonds Of any subdivision have
been heretofore issued for any Of the
purposes specified In Paragraph Of this
Article and such issue has been author
lied by the vote Of majority in mum.
Der and amount Of the property tax.
payers qualified to vote under the Con-
voted upon the proposition to issue such
bonds at an election held for that nur-
pose and where such bonds have been
issued and sold by such subdivision for
not less than par value thereof the
said bonds or any refund issue bonds
or renewal or reminding bonds issued
in novation Or renewal~of bonds issued
graph ! Of Article two hundred and
eighty one esd are hereby validated,
ratified and confirmed: provided that
such bonds did not at the time Of their
issue exceed ten per centum Of the as
sessed valuation Of the property in
such subdivision, and such bonds here.
by ratified. approved and confirmed
shall be deemed to be the valid and
incontestible obligations Of such sub
tvc 20 hn 30
the principal and interest thereof and
TO create q sinking fund for the redemp-
ton shall be levied and collected in the
manner and within the limits prescribed
by said Paragraph l of this Article
This entire Article Is to be considered
full grant Of power to the subdivisions
Of the State as set forth therein.
Section 2. Be it further resolved. etc.
That this proposed amendment shall
be submitted to the qualified voters Of
this State for adoption or rejection at
the Congressional election to nc held in
November, 1912. and. if adopted. the
same shall take effect Immediately
thereafter.
Section g. Be 1t further resolved. etc ),
That on the official ballots to be issued
at said election there shall be placed
to Article Two Hundred and Eighty-one
of the Constitution Of Louisiana" and
the words AGAINST the proposed amend
ment to Article Two Hundred and
Eighty-one Of the Constitution of Louis
lana" and each elector shall indicate
as provided in the general election laws
of the State, which of the propositions
"For'' or Against" he votes.
L. r. THOMAS.
Speaker of the House of Representatives
THOMAS C. BARRETT, !
Lieutenant Governor and President Of
the Senate.
Approved: July 9th, 1912.
L. E. HALL
Governor Of the State Of Louisiana.
A true copy:
ALVIN e. HILBERT.
Secretary Of State.