The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1912-09-07

provided, however. that the governing
body of any such subdivision may in
their discretion and without a vote of
the property taxpayers issue refundins
or renewal bonds under this paragraph,
if the bonds to be refunded or renewed
thereby have been or shall be issued
for any of the purposes specified in said
Paragraph l of this article. or in nova
ton or renewal of any bonds issued OF
| TO be issued for the said purposes spec
| flied in paragraph of this article, and
| such issue or issues so refunded or se-
newed have been or shall be authorized
| by vote of majority in number anH
| amount of the property taxpayers quar-
| 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 outstanding issue shall
have been obtained either by purchase
| or exchange, the tax levy to pay for
such bonds shall at once cease and such
bonds be cancelled. Each year Will
any refunding 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 semi-annually.
| and the principal falling due or such
amount as may be required for a 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 Nprovisions of
/ this paragraph into effect. An election
/ may be held under the provisions OF
i this paragraph at the same times and
places and by the same election off,
! GERS as an election on the question of
4 mourning debt and issuing bonds un-
i der the provisions OF said Paragraph
4 of this Article.
/ Where bonds of any subdivision have
& been heretofore issued for any of the
4 purposes specified in Paragraph of this
i 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-
stitution and laws of this. State who
4 voted upon the proposition to issue such
bonds at an election held for that our
4 pose and where such bonds have been
issued and sold by such subdivision fol
not less than par value Thereon iae1,a hod dae
or renewal or refunding bonds issued
in novation or renewal of bonds issued
i for said purposes specified in Para,
! graph i of Article two hundred AND
eighty one (2s1) are hereby validated
4 ratified and confirmed; provided tha'
such bonds did not at the time of thei1
issue exceed ten per centum Of the as.
sessed valuation Of the property ir
by ratified, approved and confirmed
shall be deemed to be the valid ano
incon testib1e obligations OF such SUB.
division and tax for the payment Of
the principal and interest thereof ane
to create a sinking fund for the redemp-
ton shall be levied and collected In the
manner and within the limits prescrlo Q,
by said Paragraph 1 of this Article
This entire Article is to be considered
a full grant of power to the subdivision:
! Of the State as set forth therein.
J Section Q. Be it further resolved, etc.
be submitted to the qualified voters OF
this State for adoption or rejection a
the Congressional election to pc held il
November. 1912, and, If adopted. ths
same shall take effect imm edlatels
thereafter.
Section 8. Be it further resolved. etc
That on the official ballots to be issuef
at said election there shall be place.
the words For the proposed amendment
to Article Two Hundred and Eighty-on'
of the Constitution of Louisiana. ant
the words Against the proposed amend
ment to Article Two Hundred an.
Eighty-one of the Constitution Of Louis
. lana and each eIector shall Indicate
as provided in the general election law:
s. of the State, which of the propositions
! For or Against, he votes
Speaker of the House Of Z spresenta 4,y
81 49, THOMAS C. 8BARRET.
& Lieutenant Governor and President q
the SENATE
s Approved: July 9Th, 1912:
: - = L. r. HALL. Il
! Governor Of the State Of Louisiana
A true COPY
ALVIN E. HEBERT.
Secretary of State.