The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-09-28
CONSTITUTIONAL
AMENDMENTS
EXTRA SESSION 1912

EXTRA SESSION 1912
ACT NO. q.
Senate Bill No. 2. BY Mr. voegtle
Joint resolution submitting to the
people Of the State OF Louisiana an
thorizing parishes and self taxing m1-
1 inequalities to exempt new industrial
enterprises and also improved value
proved lands by immigrants into the
state. who occupy said lands as home
steads from local taxation for period
not exceeding Gee ten l1o) years.
General Assembly of the State Of Lou
isiana, two-thirds of all the members
elected to each house concurring, That
the following amendment to the Con-
stttution of the State Of Louisiana be
and the same is hereby submitted to
the qualified electors of the State at
the congressional election to be held
4 on the first Tuesday after the first
Monday in the month of November of
the year 1912, to-wit:
4 Every parish and self-taxing NUM-
cipality. shall have the right to exempt
new industrial enterprises and also the
improved value added to unimproved
lands, including all structures thereon,
by Immigrants into the State who oc-
cupy said lands as homesteads, from To-
cal taxes for a period not to exceed ten
i llO) years by the vote of tWo-thirds in
number Of all it's taxpayers, who are
| qualified electors, including resident
/ women taxpayers, holding at least two
thirds of the property subject to local
taxation within the taxing locality at a
i special election called for that purpose,
at which special elecs1on members of
4 partnerships associations and heirs of
1 estates, otherwise qualified, shall be
4 entitled to vote their respective pro rata
/ of the assessed valuation of said part
enterprise SO exempted must be situat-
i ed within the limits Of the exempting
authority and be established after the
exemption is granted.
Section 2. Be 1t further resolved,
the ballot to be used at said election
the words: For the constitutional
amendment authorizing parishes and
industrial enterprises and also improv-
ed value, inclusive of structures, added
60 unimproved lands by immigrants
e from of oea taxes for
period not to exceed ten (10) years" and
| Against the constitutional amendment
! authorizing parishes and self-taxinE
municipalities to exempt new industrial
| enterprises and also improved value.
/ including structures, added to .unim-
proved lands by immigrants into the
State who occupy. said lands as home-
steads, from local taxes for a period
| not to exceed ten (10) years." and each
elector shall indicate on his ballot as
provided by the general election laws of
1 the State whether he votes for or
| against the said amendment.
| THOMAS C. BARRET,
Lieutenant Governor and President Of
4 L. E. THOMAS,
Speaker Of the House Ut Representatives.
Approved: August Gath, 1912.
L. E. HALL,
Governor Of the state Of Louisiana!
AVN z19s epP :. HEBERT
Secretary Of State,
ACT MO. 9.
Senate Bill No. 8. BY Mr. Burke.
4 Joint resolution submitting to the
| people Of Louis lana an amendment TO
4 the Constitution exenpting from taxa
ton for twenty (20) years corporations
organized to lend money on mortgages
/ on country property at not more than
borrower. with power to negotiate bonds
and securities of local taxing districts.
Section /. Be it resolved by the Gem
i eral Assembly of the State of Louisiana.
1 two thirds of all the members elected to
each house coneurring. That the follow
4 ing amendment to the Constitution of
/ the State of Louisiana be and the same
is hereby submitted TO the qualified
4
1 sional election to be held on the first
| Tuesday after the first Monday in the
month Of November, OF the year 1872, to-
wit:
The capital, surplus and personal es-
/ tate Of every corporation hereafter or
/ ganized in this State for the sole pur-
pose of lending money on mortgages on
country property situated in Louisiana
at a rate Of interest not to exceed six
] (6) per cent net to the borrower, with
1 power to negotiate and handle bonds
and securities issued by the various par
ishes and local districts and municipalt-
/ ties of the State Of Louisiana shall
be exempt from taxation for twenty (20)
/ years from the date of the organization
Of each of said companies, provided that
each Of said companies shall have a full
/ paid cash capital stock of not less than
I s250,000.oo, and provided further that
! in case any such corporation shall on
| any loan charge the borrower more than
six per cent interest, whether. by way Of
1 commission, discount, or otherwise. it
! shall forfeit the entire exemption here
1 in granted, and be subject to taxation
! from the time it makes such loan; and
] any such corporation handling or ne
i gotiating any SECURITIES other than those
] hereinabove mentioned shall incur a like
/ forfeiture,
| to receive any money on deposit or to
do banking business of any sort but
/ all such corporations shall be under
/ the control and supervision of the State
to report to the Attorney General and
| the State Tax Commission any viola
/ ton of the condition OF this exemption.
Section 2. Be It further resolved, etc,
1 That there shall be printed in the
ballots to be used at said election the
words For the amendment to the Con-
| stitution exempting from taxation for
twenty COO years corporations organiz-
4 ed for the sole purpose of lending money
I, en- country real estate situated in Lou
] isiana at not more than six co per
cent to the borrower, with power to ne
gctiate and handle local securities, and
4 the words Against the amendment to
the Constitution exempting from taxa
1 ton for twenty f2o1 years corporal tons
organized for the sole purpose of lend
ing money on country real estate situat-
1 ed in Louisiana at not more than six
! rs per cent net to the borrower, with
| power to negotiate and handle local
Securities, and each elector shall in
| dictate on his ballot, as provided by the