The herald., 1912-10-17
Article V.


posed of the Governor. the State Au-
ditor and the State Treasurer from
among the qualified electors OF the re
spectlve Railroad Commission Dis
trictS. as constituted at this date, and
they shall not be subject to removal
except for the causes and in the man
ner provided for the removal of dis
trict judges.
,. The terms of the first commits
sioners shall be for two. four and six
years. The period each is to serve
shall be determined by lot. At the eN-
plratiOn of such terms. election shall
be for the period of six years; and
commissioners shall be elected and Va
cancies filled for any uneNpired term
by the qualified electors of the reSpec-
tive Railroad Commission Districts al
the regular congressional elections held
in this State the first Tuesday after
the first Monday in November every
two years; and at the said COMPRESSION
al election held Just prior TO the eA-
piration of their respective terms.
3. The Commission shall maintain
an office and have its domicile at Bd-
ton Rouge, and the members snail re
side in Baton Rouge and devote their
time exclusively to the discharge oil
their duties.
l. They shall each receive a salary
of Five Thousand Dollars per annum
beginning January l, 1914, and their
travelling expenses, not exceeding a
maximum amount to be fixed from time
to time by the General Assembly an
rendered in an annual report.
5. The chairman of the first Com
mission shall be named by the APP
pointing Board and serve until the eN-
piration of his term of office. and there
after the Commission shall select its
s. The Commission and the individ-
ual members thereof shall perform Such
duties in respect to assessment and tax
alton as are herein prescribed, ana
such other and further duties as the
General Assembly may from time TO
I. The General Assembly shall pro-
vide said Commission with an adequate
clerical force.
8. The Commission shall have pow
err to adopt and enforce such reason
able rules. regulations, and modes OIL
procedure not inconsistent with law,
as il may deem proper Tor the uls,
determine complaints that may be made
against assessments, and other Oh It's
act, required or authorized by law
3. The Commission shail nave pow
er to summon and compel the attend
ance of witnesses, to swear witnesses,
and to compel the production or DOCKS
and papers, to take testimony uhuei
commission, and to punish for con-
tempt. as fully as is provided by law
for the district courts. The General
Assembly may provide other penalties
for violating the orders OF the Coh-
mission.
10. IL any person, firm, association
or corporation shall be dissatisfied WIN
the assessment made or actlon TAKEN
by the Commission, such party may
file a petition setting forth the cause
of objection to such assessment or &C
ton of the Commission or TO either OF
both in a Court of competent 1urlsdlc-
ton. at the domicile OF the Coniiii H
sion, against said Commission as de-
PENDANT. Either party may appear 10
the Supreme Court of the State WIN
out regard to the amount lnvoiVeu,
afNnNv 40 h
ten DAYS after the date that the decl-
sion of the lower Court becomes maj;
All such cases. both in the trial and
appellate court, shall be tried sum-
marily, and by preference over ali otheI
cases. Such cases may be tried in the
court of the first instance either In
chambers or at term time.
IL. No bond shall be required Oh saiu
Commission in any case IN any court,
nor shall advance costs. or security
for costs. be required of it: ,.
IL. 1t shall be the duty OF the Attor
ney General. and the various oi S;rac'
ton by the Commission or the 1oSeIhI
or. to aid the said Commission IN al
legal matters. and to prosecute any any
such requests and directions. A failure
on the part of such law officers, when
so requested or directed to perform the
duties here imposed upon thenh shall
constitute misfeasance IN once
Article VI.
/ After January LIST, 1914, all as
sessments for all State purposes, eH-
cept as hereinafter proVldea, shait in
each year, and the taxes shall become
due and payable on the hrst MUhIay
in June Of each year, ana snaH pe
in September in each year, Each par
ish and municipality shall nave the
right to fix the date for the coInpie
tion of its local assessments, anu tle
nayment of its local taxes ana licenses
General and special, until otherwise
prescribed by the General Assembly.
Until otherwise provided, existlng laws i'
on these subjects snail De opel aet w,
I,eyee district taxes and forced con-
tributions, exclusive OF produce IaAes'
shall be assessed and become oelln-
ouent coincidentally with parish taxes;
2. Public service corporatIiom ron sm
be assessed on their physical property
and on their franchises separately, pu'
the General Assembly shall nave pow
err to direct the Tax Commission 10
assess the property Oh ,n suGm o9p both
physical property and franchises, 10 pe
determined by gross receipts, OF py
dividends on stocks ana interest," pay
on bonded debt, or by any other avail
able method.
3. Incorporated banks shall be as
sessed by assessing the stockholders on
the book value of the stock, !: e. capts
tai stock, surplus and UNDIVIDED prof.
its less the assessed value OF rear es
tate locally assessed and taxed, and
less such further deductions OF not Iess
than five per cent on their loans anu
discounts to cover bad DEBTS ana I'm
earned interest as the General AS
sembly may prescribe, which deduc-
ton shall be made only from tnelr
surplus and undivided profits; all taxes
to be paid by the banks ana cnarSeo
to the stockholders.
4. Individual bankers, banking firms
and unincorporated banking assoeia-
tions. domiciled in this State. shall be
plus and undivided profits actually en-
nloyed in their business, less the as
sessed value of real estate locally as
sessed and taxed, actually and eXclu-
sively used and employed in their bust
ness. and less such further deductions
not less than five per cent on their
loans and discounts to cover bad debts
and unearned interest as the Genera
Assembly may prescribe, which deduc-
ton shall be made only from their sur
plus and undivided profits.
5. Foreign banks, and individual
bankers, banking firms and unincor-
porated banking associations, domiciled
out of the State but doing business in
this State, shall be assessed on such
proportion of their capital, surplus and
undivided profits as is actually EN-,
ployed in this State, less the assessed
value of real estate locally assessed
and taxed actually and exclusively used
and employed in their business in this
state. and less such further deduc-
tions, not less than five per cent on
their loans and discounts, to cover bad
debts and unearned interest as the
General Assembly may prescribe, which
deductions shall be made only from
their surplus and undivided profits.