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

lually or Semi-annually, which BONDS
;hall not be sold for less than par;
md said Board Of Drainage Commits
;ioners shall levy annually upon said
and forced contributions Or acreage =
axes in an amount sufficient TO
maintain the drainage Of said land, =.
10 pay the interest, annually or
semiannually, and the principal fall.
ing due each year, or such amount
as may be required for any sinking
fund provided for payment of said
bends at maturity, provided, that such .,
forced contributions or acreage taxes,
for all purposes shall never exceed
Three Dollars and Fifty Cents (s3.3o)
per acre per annum.
Paragraph a. The police juries of
the various parishes throughout the
State, for the purpose of construct
ing highways and public buildings Tor
the parish, and the governing au'
thorities of municipal corporations,
for the purpose of paving or improv-
ing streets or alleys, and for all mu-
nicipal improvements, after making
provision for the payment of all stat
utory and ordinary charges, may fund
into bonds running for a period not
exceeding ten Q0) years, and bear
ing interest at rate not exceeding
five 60 per centum per annum,
which bonds shall not be sold for less
than par, the avails of the residue
of the ten QW mill tax authorized
by Article 232 Of the Constitution of
Louisiana.
Paragraph 5. Should any of the
| subdivisions of the State neglect or
fail for any reason to impose or cal
]ect the taxes provided for in the
foregoing sections, any person in in
terest may by summary proceedings
III the district court having jurisdic'
ton. enforce the imposition or col
lection of such taxes, or both, and
such proceedings shall be filed and
triable free to any cost to the lltlgant'
| Paragraph 6. Municipal corpora
tons, parishes and school, drainage,
subdrainage, road, subroad, naviga'
ton and sewerage districts (the City
Of New Orleans excepted,] herein
after referred to as subdivisions
when authorized to do so in the man
ner herein provided, may, for the
purpose of readjusting, refunding, ex
tending or unifying their bonded in
debtedness, issue new bonds, cover
ing any particular issue or issues o.
bonds or the whole outstanding bond
ing Indebtedness incurred by sucf
subdivision for the purposes specified
, in Paragraph / of this article or any
, issue of refund issue bonds or renew
al or refunding bonds issued by sucf
} subdivision in novation or renewa
: and any bonds, heretofore or here
} after issued for the purposes spec
fled in said Paragraph of this Al
}. ticle. No bonds issued under thl
: paragraph shall run for more thai
: forty (4O) years from their date. no
shall bear a greater rate of interes
! than five per centum per annum
/ payable semi-annually or annually an
= shall not be sold by such subdivision
!. issuing the same for less than par
5 Auy bonds issued under this Article
; may be, either in whole or IN par
y exchanged value for value for BOND
= issued, under Article 2S1, or to be is
: sued under said Paragraph OF thl
Il Article. or sold and the proceeds
: thereof used for the purpose of pul
$ chasing outstanding bonds. Befor
g any bonds shall be issued under thl
t paragraph the issuance thereon shal
: he authorized by vote Of MAJOR
: ~ in number and amount Of the proE
:. erty taxpayers qualified to vote IN
i der the Constitution and laws Of thi
S State who vote on the proposition a
e an election held for that purpose, al
S ter due notice of said election ma
e been published, for thirty days in tn
IS official journal of the parish or pal
r ishes in which said subdivisions ar
IF located. or where there is no Off
e cial journal, in any newspaper pull
r lished in such parish or parishes
). provided, however, that the govern
y ing body of any such subdivision ma
i. in their discretion and without
e vote of the property taxpayers, is
sue refunding or renewal bonds III
II der this paragraph, if the bonds t
= be refunded or renewed thereb
70 have been or shall be issued for an
II of the purposes specified in said Pal
s. agraph l of this Article, or in nova
l, ton or renewal of any bonds issue
IS mr. tn be issued for the said purpose