The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 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 refundlns
or renewal bonds under this paragraph,
II the bonds to be refunded or renewed
thereby have been or shall be issued
for any of the purposes specified in said
Paragraph of this article, or In nova
tion or renewal of any bonds issued OF
to be issued for the said purposes spec
ified in paragraph / of this article and
rewed have been or shall be authorized
by vote OF a majority In number ana
amount of the property taxpayers quail
flied by a vote under the Constitution
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
such bonds shall at once cease and sucn
bonds be cancelled. Each year while
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. a tax sufficient to pay
the interest annually or semi-annually,
and the principal falling due or such
amount as may be required for sink
| ing fund for the payment of said bonds
at maturity provided that such special
ad va1orem 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 had 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 IN
der the provisions of said Paragraph ]
OF this Article.
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 num-
Der and amount of the property tax
payers qualified to vote under the Con-
| stitution and laws of this State who
voted upon the proposition to issue such
| bonds at an election held for that pur-
| 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 refunding bonds issued
in novation or renewal of bonds issued
! for said purposes specified In Para
| graph 1 of Article two hundred and
| eighty one (2S1) 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
division and a tax for the payment OF
! the principal and interest thereof and
| to create a sinking fund for the redemp-
| ton shall be levied and collected in the
manner and within the limits prescribed
| by said Paragraph 1 of this Article.
| This entire Article is to be considered
q full grant of power TO the subdivisions
| of the State as set forth therein.
Section 2. Be 1T 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 pe held in
November. 1912. and. IL adopted. the
same shall take effect Immediately
thereafter.
Section 3. Be 1t further resolved etc !,
That on the official ballots to be issued
at said election there shall be placed
| the words For the proposed amendment
| to Article Two Hundred and Eighty-one
of the Constitution of Louisiana" and
the words Against the proposed amend.
Eighty-one of the Constitution of Louis
iana." and each elector shall indicate.
as provided in the general election laws
of the State, which of the propositions.
L. f. THOMAS.
Speaker Of the House of Representatives.
| THOMAS c. BARRET. :
Lieutenant Governor and President Of
the Senate.
Approved: July 9th. 1912.
L. E HALL.
Governor o. the State of Louisiana
/ A true copy:
ALVIN e. HEBERT.
Secretary of State.
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