The Natchitoches enterprise., 1912-10-03

authorities of such subdivisions shall
of all other taxes, a tax sufficient to
pay the interest. annually or semi
annually and the principal falling due
each year. or such amount as may be
required for any sinking fund necessary
to retire said bonds at maturity; pro-
vided that such special taxes. for all
purposes as above set forth shall NOT
in any year exceed ten mills on the dol
lar of assessed valuation of the prop
erty in such subdivisions.
No bonds shall be issued for any
other purpose than that stated in the
submission of the proposition to the
days as aforesaid, or for a greater
amount than therein mentioned; nor
shall such bonds be issued for any
other purpose than for constructing,
and highways. paving and improving
streets, roads and alleys. purchasing
and constructing systems of water
works, sewerage. drainage, navigation,
lights, public parks and buildings, to-
gether with all necessary equipments
and furnishing, bridges and other
works of public improvement, the title
to which shall rest in the subdivision
creating the debt. as the case may be;
nor shall such bonds run for longer
period than forty (40) years from their
date or bear greater rate of interest
than five per centum go per annum.
issue of bonds by any subdivision for
all purposes shall never exceed ten
per centum G0) Of the assessed valua-
ton of the property in such subdivis-
authority to create within their limits
one or more sewerage districts.
Paragraph @. Police juries in any
parish or parishes may in accordance
with law create drainage districts
which in addition to the powers here
inabove granted shall have further
power and authority to provide and
maintain drainage systems and the
when authorized by majority in num-
Der and amount of the property tax
payers of said district qualified, to vote
under the Constitution and laws, who
pose, may impose and collect for a pc
riod not exceeding forty years forced
contributions or acreage taxes not ex-
ceeding fifty cents per acre per year
on every acre of land in the subdivision
where such an election is held. The
governing authority of such subdivision
when authorized as set forth, may in
cur debt and issue negotiable bonds to
above described provided that the total
amount of debts thus incurred or bonds
issued. shall never exceed in principal
and interest the aggregate amount to
be raised by said annual contributions
or acreage taxes during the period for
which the same are imposed and that
no such bonds shall be issued for any
other purpose than that for which said
voted, run for a longer period than
forty years. bear greater rate of in
terest than five per centum per an
mum or be sold for less than par. All
taxpayers in any subdivision at any
election not contested on any ground
of fraud are hereby recognized and
validated.
q
any land is such that it must be leveed
and pumped in order to be drained
and reclaimed, the Board of Drainage
Of the District in which |
the land is situated. shall, upon the
petition of not less than a majority in
acreage of the property taxpayers, |
resident and nonresident, in the area !
to be affected, ascertain the cost of |
drainage, and retaining said land and |
incur debt against said land for an |
amount sufficient to drain and reclaim |
it, and issue for such debt negotiable |
bonds running not longer than forty |
(40) years from their date and bearing |
at a rate not exceeding five |
per centum per annum payable annually |
or semi-annually, which bonds shall not |
be sold for less than par; and said Beard |
OF Drainage Commissioners shall levy |
upon said land forced contribu- /
lions or acreage taxes in an amount |
sufficient to maintain the drainage of |
said land, to pay the interest annually |
pr semi-annually, and the principal fall
Ing due each year, or such amount as
may be required for any sinking fund |
provided for payment of said bonds at /
maturity. provided, that such forced
or acreage taxes, for all
airs and Fifty Cents $3.50 per acre
per annum.
Paragraph 4. The police juries of the
various parishes throughout the State.
ri OF s!lsss !
ways and public buildings for the par
Ssh. and the governing authorities Of /
Of paving or improving streets or all
Ieys, and for all municipal improve
ments, after making provision for the
payment of all statutory. and ordinary
charges, may fund into bonds running
For period not exceeding ten (10(
years. and bearing interest at rate not
five (5) per centum per an
num-, which bonds shall not be sold
residue of the ten (10) mill tax au-
.horized by Article 232 of the Constitu-
lion of Louisiana
Paragraph s. Should any of the SUBJ
divisions Of the State neglect or fail for
any reason to impose or collect the
axes provided for in the foregoing sec
lions, any person in interest may by
proceedings In the district
court having jurisdiction, enforce the
imposition or collection of such taxes.
Or both, and such proceedings shall be
lied and triable free to any cost to the
itigant.
Paragraph 6. Municipal corporations,
parishes and school. drainage, sub
road, subroad, navigation and
districts (the City of New
Orleans excepted). hereinafter referred
10 as subdivisions, when authorized to
10 so in the manner herein provided,
nay, for the purpose of readjusting,
'efunding, extending or unifying their
bonded Indebtedness, issue new bonds.
ritz
IF bonds or the whole outstanding
bonded Indebtedness incurred by such
subdivision for the purposes specified
n Paragraph l of this article or any
,r refunding bonds issued by such sub
iivision in novation or renewal and any
ponds, heretofore or hereafter issued
FOR the purposes specified in said Para
sued under this paragraph shall run for
more than forty (40) years from their
late, not shall bear a greater rate Of
interest than five per centum per an
lily and shall not be sold by such sub
division issuing the same for less than
BAR. Any bonds issued under this Ar
-icle, may be, either in whole or in
bonds issued, under Article PSI, or to
De issued under said Paragraph / Of
This Article. or sold and the proceeds
thereof used for the purpose of pur-
enaSlng outstanding DOnuS Before any
ponds shall be issued under this para
graph the issuance thereof shall be
authorized by vote of a majority in
number and amount of the property |
taxpayers qualified to vote under the
and laws of this State who
vote on the proposition at an election
held for that purpose, after due notice
IF said election has been published, for
thirty days in the official journal OF
The parish or parishes In which said
are located, or where there
s no official journal, in any newspaper
published in such parish or parishes
however that the governing
body OF any such subdivision may in
heir discretion and without vote of
he property taxpayers, issue refunding
Or renewal bonds under this paragraph. /
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