The Natchitoches enterprise., 1912-10-17

| of all other taxes, tax sufficient TO
pay the interest. annually or semi
| annually, and the principal falling due
| each year, or such amount as may oe
| required for any sinking fund necessary
| to retire said bonds at maturity; pro,
| vided that such special taxes, for all
| purposes as above set forth shall not
| in any year exceed ten mills on the dol
! lar of assessed valuation of the prop
erty in such subdivisions
| No bonds shall be issued for any
other purpose than that stated in the
| submission of the proposition to the
| taxpayers, and published for thirty C5Vl
/ days as aforesaid. or for greater
amount than therein mentioned; nor
| shall such bonds be issued for any
| other purpose than for constructing,
| improving and maintaining public roads
! streets, roads and alleys. purchasing
| and constructing systems of water
works. sewerage. drainage. navigation
| lights, public parks and buildings TO-
and furnishing. bridges, and other
| works of public improvement, the title
to which shall rest in the SUBDIVISION
creating the debt, as the case may be,
| nor shall such bonds run for a longer
| period than forty (40) years from their
date or bear a greater rate of interest
| than five per centum 90 per annum;
or be sold for less than par The total
! issue of bonds by any subdivision for
| all purposes shall never exceed ten
| per centum 10) of the assessed valua-
| tion of the property in such subdivis-
| ions. Municipal councils are granted the
authority to create within their limits
| one or more sewerage districts.
| Paragraph 2. Police juries in any
parish or parishes may in accordance
which in addition to the powers here
| inabove granted, shall have further
power and authority to provide and
| maintain drainage systems and the
governing authorities of such districts,
| when authorized by a majority in num-
| ber and amount of the property tax
payers of said district qualified to vote
under the Constitution and laws, who
! vote at an election held for that pur-
pose, may impose and collect for a pc
| riod not exceeding forty years forced
| contributions or acreage taxes not eX-
| on every acre of land in the subdivision
| where such an election is held. The
| governing authority Of such subdivision
| when authorized as set forth, may in
| cur debt and issue negotiable bonds to
represent same, secured by the taxes
| above described provided that the total
| amount of debts thus incurred or bonds
| issued. shall never exceed in principal
| and interest the aggregate amount to
| be raised by said annual contributions
| or acreage taxes during the period for
which the same are imposed and that
no such bonds shall be issued for any
| other purpose than that for which said
| contributions or acreage taxes were
voted, run for longer period than
| forty years. bear greater rate of in
terest than five per centum per an,
! mum or be sold for less than par All
bond issues heretofore authorized by
| taxpayers in any subdivision at any
election not contested on any ground
of fraud are hereby recognized and
| validated.
Paragraph 3. When the character of
any land is such that 1t must be leveed
! and pumped in order to be drained
! and reclaimed, the Board of Drainage
| mi q District which
| the land is situated, shall, upon the
petition of not less than a majority in
| acreage of the property taxpayers,
resident and nonresident. in the area
to be affected, ascertain the cost of
| drainage, and reclaiming said land and
| incur debt against said land for an
| amount sufficient to drain and reclaim
| it, and issue for such debt negotiable
bonds running not longer than forty
| (40) years from their date and bearing
| interest at a rate not exceeding five
per centum per annum payable annually
| or semf-annually, which bonds shall not
| be sold for less than par; and said Board
| of Drainage Commissioners shall levy
| annually upon said land forced contribu-
! tions or acreage taxes in an amount
! sufficient to maintain the drainage of
| said land, to pay the interest, annually
or semi-annually, and the principal fall
| ing due each year, or such amount as
provided for payment of said bonds at
maturity, provided, that such forced
| contributions or acreage taxes. for all
| purposes shall never exceed Three Dol
! lars and Fifty Cents ($3.50) per acre
| per annum.
Paragraph e. The police juries of the
various parishes throughout the State,
& il'sz hisszhr
| ways and public buildings for the par
ish, and the governing authorities OF
| municipal corporations. for the purpose
! Of paving or improving streets or al
leys, and for all municipal improve
I &c Of fnV rTayiEinn
payment of all statutory and ordinary
| cha.ges may fund into bonds running
for a period not exceeding ten (1O)
years, and bearing interest at rate not
| mum, which bonds shall not be sold
| for less than par, the avails OF the
| residue of the ten (10) mill tax au-
thorized by Article 232 Of the Constitu-
| Paragraph S. Should any of the SUBJ
divisions of the State neglect or fail for
| any reason to impose or collect the
taxes provided for in the foregoing sec
| tions any person in interest may by
| summary proceedings in the district
| court having jurisdiction, enforce the
or both, and such proceedings shall be
filed and triable free to any cost to the
| litigant.
Paragraph 6. Municipal corporations,
| parishes and school, drainage, sub
drainage. road. subroad navigation and
| sewerage districts (the City of New
Orleans excepted), hereinafter referred
to as subdivisions, when authorized to
do so in, the manner herein provided,
| may, for the purpose of readjusting.
refunding, extending or unifying their
| bonded indebtedness issue new bonds.
covering any particular issue or issues
| Of bonds or the whole outstanding
bonded indebtedness incurred by such
subdivision for the purposes specified
in Paragraph ! of this article or any
issue or refund issue bonds or renewal
/ 1f0or dc fccU w
division in novation or renewal and any
bonds, heretofore or hereafter issued
for the purposes specified in said Para
graph of this Article No bonds is
| more than forty (40) years from their
date not shall bear greater rate OF
interest than five per centum per an
mum, payable semi-annually or annu-
alIy and shall not be sold by such sub
division issuing the same for less than
par. Any bonds issued under. this Ar
ticle, may be, either in whole or IN
part, exchanged value for value fo1
bonds issued, under Article 2S1, or to
be issued under said Paragraph / OF
this Article. or sold and the proceeds
thereof used for the purpose of pur-
chasing outstanding bonds Before any
bonds shall be issued under this para
graph the issuance thereof shall be
authorized by vote Of a majority IN
number and amount of the property
taxpayers qualified to vote under the
Constitution and laws of this State who
vote on the proposition at an election
held for that purpose, after due notice
OF said election has been published, foI
thirty days in the official journal o.
the parish or parishes in which said
subdivisions are located, or where there
is no official journal, in any newspaper
published in such parish or parishes
provided, however, that the governing
body of any such subdivision may ir
their discretion and without a vote OF
the property taxpayers, issue refundine
1 49,, Il crra n
|, Ii the bonds to be refunded or renewed
thereby have been or shall be issued
for any of the purposes specified in said
Paragraph 1 of this article, or in nova
| tion or renewal Of any bonds issued o.