The Era-leader. [volume] (Franklinton, La.) 1910-current, 1912-08-29

'SA'Nu W DO o"Oul''olOhS vi llle Oldle
} when authorized by vote of ma
, jCrity, in number and amount of the
} property taxpayers, qualified to vote
under the Constitution and laws O
this State, who vote at an election
held for that purpose, after due no
hce Of said election has been pub
lished for thirty days in the officia
Journal of the municipal corporation
or parish or where there is no Off
clal journal, in newspaper publish
ed therein, may, through their respec
tive governing authorities incur debt
and issue negotiable bonds therefor
and each year while any bonds thus
issued are outstanding, the governing
authorities of such subdivisions shall
impose and collect annually, in ex.
cess of all other taxes, tax suffi-
Gent to pay the interest, annually or
semi-annually, and the principal fall
ing due each year, or such amount
as may be required for any sinking
fund necessary to retire said bonds al
maturity; provided that such special
taxes. for all purposes as above set
forth shall not in any year exceed
ten mills on the dollar of assessed
valuation of the property in such
subdivisions.
No bonds shall be issued for any
other purpose than that stated in the
submission of the proposition to the
taxpayer, and published for thirty
600 days as aforesaid, or for a great.
err amount than therein mentioned:
nor shall such bonds be issued for
any other purposes than the construct.
ing, improving and maintaining pub.
lie roads and highways, paving and
improving streets, roads and ALLEYS.
purchasing and constructing systems
OF waterworks. sewerage, drainage,
navigation, lights, public parks and
buildings, together with all necessa-
~ equipments and furnishing, bridges
and other works of public improve.
ment, the title to which shall rest in
the subdivision creating the debt. as
the case may be; nor shall such
bonds run for a longer period than
forty (4O) years from their date or
bear a greater rate of interest than
five per centum (5) per annum, or
be sold for less than par. The total
issue Of bonds by any subdivision for
all purposes shall never exceed ten
per centum (1O) of the assessed val
uation Of the property in such subdi-
visions. Municipal councils are grant.
ed the authority to create within
their limits one or more sewerage
districts.
Paragraph 2. Police iuries in any
parish or parishes may in accordance
with law create drainage districts,
which, in addition to the powers
hereinabove granted, shall have fur.
Their power and authority to provide
and maintain drainage systems and
the governing authorities of such dis.
tricls, when authorized by MAORI
ty III number and amount of the prop
erty taxpayers Of said district quail.
fled to vote under the Constitution
and laws, who vote at an election
held for that purpose, may impose
and collect for period not exceed.
ing forty years forced contributions
or acreage taxes not exceeding fif.
ty cents per acre per year on every
acre of land in the subdivision where
such an election is held. The gov.
hrning authority of such subdivision |
when authorized as set forth, may in. |
cur debt and issue negotiable bonds |
to represent same, secured by the
taxes above described provided that
the total amount of debts thus incur.
red or bonds issued, shall never ex.
ceed in principal and interest the az.
gregate amount to be raised by said |
annual contributions or acreage taxes |
Turing the period for which the same
are imposed and that no such bonds
shall be issued for any other purpose
han that for which said contributions
Dr. acreage taxes were voted, run for
! longer period than forty years, bear
4 greater rate of interest than five
per centum per annum or be sold for
less than par. ALL bond issues here
.ofore authorized by taxpayers in any
subdivision at any election not con-
;ested on any ground of fraud, are
hereby recognized and validated.
Paragraph 3. When the character Of
any land is such that it must be lie.
veed and pumped in order to be
Trained and reclaimed. the Board Of