The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-10-17

Senate Bill No. 7. By Mr.. Shaffer.
JOINT RESOLUTION
to the people of the State
of Louisiana, at the Compression
al election to be held in Novem-
Der, 1912, an amendment to the
Constitution of the State exempt
ing from taxation for ten (10)
years from the date of compile
ton the capital stock, franchises,
and certain property of all corpo-
rations constructing, owning and
operating within the State COM
bined system of irrigation, navi-
cation and hydro-electric power,
using fresh water streams and
water sheds, provided that each
system be completed and in op-
GRAFTON within live 60 years from
January lst, 1913, and providing
further that not less than five
million dollars shall have been
expended in the construction of
each system.
Whereas, the State of Louisiana
has large areas comprising millions
of acres of land that can be reclaim
ed and brought into cultivation by IT.
rigation, whereby large additions will
be made to the population and, the
assessed value of the State; and,
Whereas, canals can be construct
ed SO as to provide irrigation, navi-
cation and power, and it is the States
duty to encourage and promote the
organization Of such concerns:
Section 1. Be it resolved by the
General Assembly of the State of
Louisiana, two-thirds of all the mem
bers elected to each house concur
ring, That the following amendment
to the Constitution be submitted to
the qualified electors Of the State
for their adoption or rejection at the
Congressional election to be held on
the first Tuesday after the first
Monday in the month of November,
1912, as follows:
There shall be exempt from taxa
ton for ten Q0) years from the date
of completion, the capital stock, fran
chises and property of all corpora
tons constructing, owning and oper'
ating within the State a combined
system of irrigation, navigation and
hydro-electric power, using fresh
water of Louisiana streams, and wat
er-sheds, provided that each system
shall be completed and in operation
within five (5) years from January
LIST. 1913, and provided further that
not less than five million dollars
shall have been expended in the con-
struction Of each system. No real or
corporal property shall be covered
by this exemption except that which
is necessarily connected with and ap'
purtenant to each canal system and
forming part thereof. nor shall this
exemption extend to the assessed
value that such real estate had a,
the time 1t may be acquired by the
company; provided that the right o.
the State to regulate the diversion
Of It's public waters from their natu
raj beds shall. not be waived by this
amendment.
Section 2. Be it further resolved
etc., That the official ballot to be
used at said election shall have print
ed thereon the words: For the pro
posed amendment to the Constitu
ticn Of the State Of Louisiana ex
empting from taxation for ten no.
years from the date of completion
certain new canals for irrigation. nav
igation and power purposes to be
completed within five years with q
capital of not less than five million
dollars" and the words: "Agains'
the amendment to the Constitution
Of the State OF Louisiana exemptine
from taxation for ten (10 years from
the date Of completion certain new
canals for irrigation. navigation and
power purposes to be completed with
in five (5) years with a capital Of
not less than five million dollars.
And each elector shall indicate as
provided in the general election laws
Of the State whether he votes fol-
or against the proposed amendment
THOMAS C. BARRETT.
Lieutenant Governor and President
Of the Senate.
L. E. THOMAS.
Speaker of the House Of Represen
tatives.
Approved: August oath, 1912.
L. E. HALL,
Governor of the State of Louisiana
A true copy:
ALVIN E. HEBERT,
Secretary of State.
ACT NO. II.
Senate Bill No. s. BY Mr.. Voegtle.
JOINT RESOLUTION
Proposing an amendment to the Con-
stitution of the State of Louisi-
ana exempting from taxation the
legal reserve of life insurance
companies organized under the
laws of this State.
Section One. Be it resolved by the
General Assembly Of the State OF
| 7 o,,ieiana tvn-fhirds of all the men,