The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1912-09-28

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per centum per annum payable an
nually or semi-annualy, 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 10
maintain the drainage of said land,
/ to pay the interest, annually or
I semrannually, 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 a period not
exceeding ten (10) 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 00) mill tax authorized
by Article 232 of the Constitution of
Louisiana.
Paragraph B. 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
i'll 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 litigant.
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 of /
bonds Or the whole outstanding bond |
ing Indebtedness incurred by such |
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 such |
subdivision in novation or renewal |
and any bonds, heretofore or here
after issued for the purposes speci-
fled in said Paragraph / Of this Ar
ticle. No bonds issued under this
shall run for more than
forty (40) years from their date, nor
shall bear a greater rate of interest
han five per centum per annum,
payable -semi-annually or annually and
shall not be sold by such subdivision
ssuing the same for less than par.
Any bonds issued under this Article,
nay be, either in whole or in part,
value for value for bonds
ssued, under Article 2S1, or to be is
sued under said Paragraph L of this
Article, or sold and the proceeds
hereof used for the purpose of pur-
hasing outstanding bonds. Before .
my bonds shall be issued under this ,
paragraph the issuance thereof shall
e authorized by a vote Of a MAORI
Y in number and amount Of the prop
rty taxpayers qualified to vote IN {
er the Constitution and laws of this .
tate who vote on the proposition at
n election held for that purpose, af- {
er due notice of said election has
cen published, for thirty days in the
fficial journal of the parish or par T
shes in which said subdivisions are
1cated, or where there is no Off
ial journal, in any newspaper pub
shed in such parish or parishes, r
rovided, however, that the govern
lg body of any such subdivision may
! their discretion and without a
CITE of the property taxpayers, is
ue refunding or renewal bonds I'M
er this paragraph, if the bonds to
e refunded: or renewed thereby
ave been or shall be issued for any
the purposes specified in said Par
graph l of this Article, or. in nova
on or renewal of any bonds issued
: to be issued for the said purposes t
oecified in Paragraph l of this Ar
Gle, and such issue or issues so re-