The Caldwell watchman. (Columbia, La.) 1885-1946, 1912-10-04
CONSTITUTIONAL !
AMENDMENTS
EXTRA SESSION 1912
ACT NO. 4.

ACT NO. 4. -,
, Senate l?ill No. 9. by MT 'oSs ~,
f Joint resolution submitting 10 ' -,
9 noonlr Of the State of Louisiana ~
: amendment to the Constitution ~
thorizing parishes and self-taXlng III. LIZ
= nicip3litieS to exempt new huueti
: enterprises and also improved vai iu,.
4 inclusive of structures added TO ull. ~
Q proved lands by immigrants lhto ny
f State who occupy said lands as no n;od
8 steads from local taxation Tor pe''''
not exceeding ten (lO) years +he
$ Section /. Be it resolved py .Ms
: General Assembly of the State OF Lou Lou.
r isiana, two-thirCls Of all the menlpea
elected to each house COncurrins' 1hst'
, the following amendment to t!e III
+ Stitution Of the State or LohlSlaua =. .o
and the same is hereby submitted 10
f the qualified electors OF the State :,
the congressional election to be i elu
, on the first Tuesday after the li' 81
Monday in the month Of November u
the year 1912. tO-wit:
Every parish and self-taXins mum.
cfpality shall have the right TO eNcmp.
new industrial enterprises and also t"s
improved value added to unimrrovea
lttIltS iltluuiuS AL Sti uttt'N9 s'.S
by immigrants into the state VINO Vc-
cupy said lands as homesteads. from 10
cal taxes for a period not to exceed ten
| Q0) years by the vote Of two-thirds IN
number OF all its taxpayers, VINO are
qualified electors. including reSlhehl
women taxpayers, holding at least tWo1
thirds Of the property subject TO loca'
taxation within the taxing locality at
special election called for that purpose.
at which special election members OF
partnerships. associations and heirs OF
estates. otherwise qualified. Shall De
| entitled to vote their respective pro rata
of tha assessed valuation of said part
nerShipS, associations or estates Each
enterprise SO exempted must be situat-
ed within the limits of the exemptins
authority and be established after the
exemption is granted.
Section .. Be it further resolved.
etc, That there sllah be printed on
the ballot to he used at said election
| the words: For the constitutional
| amendment authorizing parishes and
| self-taEing municipalities to exempt new
industrial enterprises and also improv.
ed value, inclusive of structures. added
into the State who occupy said lands
as homesteads. from local taxes for q
period not to exceed ten 10l years and
Against the constitutional amendment
authorizing parishes and self-taXing
municipalities to exempt new industrial
enterprises. and also improved value,
including structures added to unin-
proved lands by immigrants into the
State who occupy said lands as home
steads, from local taxes for a period
not to exceed ten O0) years" and each
eiector shall indicate on his ballot as
provided by the general election laws of
the State whether he votes for or,
against the said amendment
THOMAS c. BARRETT,
Lieutenant Governor and President Of
L. f. THOMAS. \
Speaker OF the House VI Representatives
Approved: August 24th, 1912.
L. T. HALL,
Governor of the State Of Louisiana
A true copy:
ALVIN l.. HILBERT.
Secretary of State.
act NO. Q.
Senate Bill No. 3. BY Mr.. Burke. |
Joint resolution submitting to thss
people Of Louisiana an amendment 81
the Constitution exempting from taxa
ton for twenty (20) years corposationS.
organized to lend money on mortgageSl
on country property ut not more THANH
N'ASN
borrower, with power to negotiate bonds
and securities Of local taxing districts. |
Section 1. Be it resolved by the Cen
erai Asse mbly of the State Of Louisiana,
two-thirds Of all the members elected to
each house concurring, That the follow
ing amendment to the Constitution Of
the State Of Louisiana be and the same
electors of the State at the congress
sional election to be held on the first
after the first Monday in the
month Of November. Of the year 1912, to-
wit:
The capital. surplus and personal es-
tate OF every corporation hereafter or
ganized in this State for the sole pur-
pose or lending money on mortgages on
property situated in Louisiana
at rate of interest not to exceed six
go per cent net to the borrower, with
power to negotiate and handle bonds !
and securities issued By the various par
isles and local districts and municipa1i-
ties Of the State Of Louisiana shall |
be exempt from taxation for twenty (2O) |
years from the date Of the organization |
Of each Of said companies, provided that |
each of said companies shall have a full !
paid cash capital stock Of not less than !
s250,OOO.00 and provided further that |
in case any such corporation shall on !
any loan charge the borrower more than |
SIX per cent interest. whether by way Of |
commission. discount, or otherwise, it |
shall forfeit the entire exemption here
IN granted. and be subject to taxation |
from the time it makes such loan; and |
any such corporation handling or ne
any SECURITIES other than those
1ereinabove mentioned shall incur like
forfeiture
No such corporation Shall have power
% receive any money on deposit or to
10 banking business Of any sort, but
I'll such corporations shall be under
he control and supervision Of the State
sank Examiner. whose duty It shall be
o report to the Attorney General and
he State Tax Commission any viola
ion of the condition of this exemption.
;, Section 2. Be it further resolved, etc.
That there shall be printed in the
,allots to be used at said election the
words For the amendment to the Con-
exempting FROM taxation for
d for the sole purpose OF lending money
N country real estate situated in Lou
stana at not more than six CO per
ent to the borrower, with power to ne
::ctiate and handle local securities" and
ne words Against the amendment to
he Constitution exempting from taxa
ion for twenty 600 years corporations
rsanized for the sole purpose of lend
ny money on country real estate situat-
d in Louisiana at not more than six
% per cent net to the borrower, with
ecurities," and each elcctor shall in
icate on his ballot. as provided by the
eneral election laws Of the State.
'hether he votes for Or against the said
THOMAS c. BARRETT.