The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1912-09-28

/ Interest at a rate not exceeding five
/ per centum per annum payable an
! nualy or semi-annualIy, which bonds
shall not be sold for less than par;
and said Board of Drainage Commits
sioners shall levy annually upon said
land forced contributions Or acreage
taxes in an amount sufficient to
maintain the drainage of said land,
to. pay the interest, annually or
semfannually, 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 $3.50
per acre per annum.
Paragraph 4. The police juries of
the various parishes throughout the
State, for the purpose of construct
ing highways and public buildings for
| 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 period not
exceeding ten 0O) years, and bear
ing interest at a rate not exceeding
five (5) per centum per annum,
which bonds shall not be sold for less
than par, the aVaiIs of the residue
: OF The ten U0) mill tax authorized
by Article 232 of the Constitution OF
Louisiana.
= Paragraph ). Should any of the
subdivisions of the State neglect or
fail for any reason to impose or cal
; lect 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 anG
triable free to any cost to the litigant
Paragraph 6. Municipal corpora
lions, 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
l 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 suci
subdivision for the purposes specified
in Paragraph | of this article or any
issue Of refund issue bonds or renew
> al or refuhding BONDS ISSUED by suci
SUBDIVISION IN noVatlon or reneWa
and any bonds, heretofore or mere
after issued for the purposes specl
fled in said Paragraph l of THIS Ar
tlcIe. NO ponds ISSUED uhder thl
paragraph snail run for more thai
forty t40j years from thelr DATE no
snail pear a greater rate or lhIereS
. than i've per centum per anhum
payable seml-ahnually or ahhudilS du
snail not De Sold by Such SuDui' ISiol
= issuing the same LOT less than Par
, ANY DOndS ISSUED 'unuer InlS A1UNcle
:, may be, eltner IN WnoIe or Ill part
exchanged value Tor value LOT Oonu
issued, under Article Z9l, or 70 De IS
=, sued under said Paragraph OF Inl
Article, or sold and the proceeds
thereof used for the purpose or pur
CHASING outstanding Donds. Belor
any bonds shall be issued under thl
paragraph the issuance thereon SnaI
NJ nrIv Il H. 1T n n