The Caldwell watchman. (Columbia, La.) 1885-1946, 1912-11-01
CONSTITUTIONAL
AMENDMENTS
EXTRA SESSION 1912
ACT TO. 4.

senate B!Ii NJ. -! -Ni' i, .
Joint resolution submitting 10 ON on
people OF the State OF Louisiana al.
aIufudmept to the Constitution a.
thorizinc parishes ard self-taXing Ho,
nicipAlities to exempt new lldust; ,o'
enterprises and also improved ..i Wv,
Inclusive of, structures added to uni,h-
proved lands by immigrants mo Tue
State. who occupy said lands as !'oliioa
steads from local taxation for 9e''oo
not exceeding ten l0) years. .,o
Section ]. Be it resolved by Tue
General Assembly of the State OF 1Iou u<.
isiana, thirds of all the neA ir', =
elected to each house concurrlns' nc NC,
the following amendment to the Con-
stitutjon of the state Of Louisiana pc
and the same is hereby submitted ~
the qualified electors of the STATE d,
the congressional election to be neiu
on the first Tuesday after the MS.
Monday in the month Of November Oh
the year 1912, to-wit:
Every parish and self-taxing mum.
cipality shall have the right to exempt
new industrial enterprises and also tla
improved value added to unlmpToVeu
lands, including all structures thereon
by immigrants into the State VINO oc-
cupy said lands as homesteads, from 10
cal taxes for period not to exceed ven
lO) years by the vote Of tWo-thlrds III
number of all its taxpayers. who are
qualified electors. including resident
women taxpayers. holding at least TWO,
thirds of the properly subject TO locai
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 pc
entitled to vote their respective pro rata
raln.finn of said O9rC-
nerships. associations or estates. Eacn
enterprise 50 exempted must be sltuat-
ed within the limits of the exemptlnS
authority and be established after the
exemption is granted.
Section .. Be it further resolved,
etc. That there shah be printed on
the ballot to be used at said election
the words: For the constitutional
authorizing parishes ana
self taxing municipalities to exempt new
industrial enterprises and also lmproV-
to unimproved lands by immigrants
into the State who occupy said lands
as homesteads. from local taxes for q
period not to exceed ten (10) years and
Against the constitutional amendment
parishes and self-tax1ng
to exempt new industrial
enterprises, and also improved value.
including structures, added to unlm-
proved lands by immigrants into the
State who occupy said lands as home
steads. from local taxes for period
elector shall indicate on his ballot as
provided by the general election laws OF
the State whether he votes TOT OF
against the said amendment.
THOMAS c. BARRETT ]
Lieutenant Governor and President or
L. E. THOMAS,
Speaker Of the House Of Representatives.
Approved: August 24th, 1912. ~,
Governor of the state Of Louisiana.
A true copy:
ALVIN Z. HEBERT.
Secretary Of State.
ACT NO. Q.
Senate Bill No. 8. BY Mr. Burke
Joint resolution submitting to the
people of Louisiana an amendment &c
the Constitution exen1pting from taxa
ton for twenty (20D years corporations
to lend money on mortgages
on country property at not more thar
six (6) per cent interest. net to the
borrower with powe. to negotiate bond.
and securities of local taxing districts
Section l. Be it resolved by the Gen
eral Assembly of the State of Louisiana
Wo-thirds Of all the members elected t
each house concurring, That the follow
ing amendment to the Constitution o.
the State of Louisiana be and the same
is hereby submitted TO the qualified
electors of the State at the congress
sional election to be held on the frs
Tuesday after the first Monday in tn,
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 of lending money on mortgages Of
country property situated in Louisiana
at rate of interest not to exceed 81:
Co per cent net to the borrower, wit
power to negotiate and handle bond
and securities issued by the various par
ishes and local districts and municipal
ties of the State of Louisiana shall
be exempt from taxation for twenty GO
years from the date of the Organization
Of each of said companies, provided tina
each of said companies shall have a full
paid cash capital stock of not less tina
$3.50, 100000, and provided further tina
in case any such corporation shall O
any loan charge the borrower more tina
six per cent interest. whether by way Q
commission. discount, or otherwise,
shall forfeit the entire exemption here
in granted. and be subject to taxatio
from the time it makes such loan; an
any such corporation handling or ne
gotiating any SECURITIES other than thOs
hereinabove mentioned shall incur lik
forfeiture.
No such corporation shall have powe
to receive any money on deposit or. I
do banking business of any sort, bu
all such corporations shall be unde
the control and supervision Of the Stat
Bank Examiner. whose duty 1t shall
to report to the Attorney General an
the State Tax Commission any viola
ton of the condition of this exemption
Section 2. Be it further resolved, etc
That there shall be printed in tn
ballots to be used at said election tn
words For the amendment to the Cor
stitution eXempting from taxation fo
twenty f20) years corporations organic
| ed for the sole purpose of lending none
on country real estate situated inS Lou
isiana at not more than six Coy pc
cent to the borrower with power to nj
gotiate and handle local securities" an
the words Against the amendment
the Constitution exempting from taxa
ton for twenty (2O) Years corporation
| organized for the sole purpose Of lent
ing money on country real estate situa'
| Gu III lLOulSldIid dL IUt LlOI0 lIldl o.
| (6) per cent net to the borrower. wit
power to negotiate and handle locs
| securities" and each elector shall II
dictate on his ballot, as provided by tt
| general election laws Of the Stat
/ whether he votes for or against the sal
amendment
THOMAS c. BARRETT,
| Lieutenant Governor and President {
the Senate.
L. e. THOMAS.
Speaker Of the House of Representative
| Approved: August oath, 1912
l.. E. HALL,
| Governor Of the State Of Louisiana
| A true copy
| ALVIN f. HEBERT.
Secretary, of State.
ACT NO. 2.
| Senate Bill No BY Mr., EayrQ