The Donaldsonville chief., 1912-10-12
CONSTITUTIONAL
AMENDMENTS
EXTRA SESSION 1912
act NO. a.

ACT NO. 4.
Senate Bill No. 2. BY Mr. Voegtle.
Joint resolution submitting to the
people OF the State Of Louisiana an
amendment to the Constitution au-
thorizing parishes and selfetaxing mu,
inequalities to exempt new industrial
inclusive of structures added to unim-
proved lands by immigrants into the
State, who occupy said lands as home-
steads from local taxation for period
not exceeding ten t1o} years.
Section l. Be it resolved by the
General Assembly of the State Of Lou
isiana, two-thirds of all the members
elected to each house concurring, That
stitution of the State Of Louisiana be
and the same is hereby submitted to
the qualified electors OF the State at
the congressional election to be held
on the first Tuesday after the first
Monday in the month of November Of
the year 1912, towit:
Every parish and self-taxing muni-
cipality shall have the right to exempt
new industrial enterprises and also the
improved value added to unimproved
lands, including all structures thereon,
by immigrants into the State VINO oc-
cupy said lands as homesteads, from To-
cal taxes for a period not to exceed ten
(10) years by the vote of two-thirds in
number of all its taxpayers, who are
qualified electors, including resident
women taxpayers, holding at least two
taxation within the taxing locality at a
special election called for that purpose,
at which special election members of
partnerships, associations and heirs OF
estates. otherwise qualified, shall be
entitled to vote their respective pro rata
Of the assessed valuation of said part
nerships, associations or estates. Each
enterprise SO exempted must be situat-
authority and be established the
Section 2. Be 1t. further regolved,
ETC., That there shall be printed on
the words: FOR the constitutional
amendment authorizing parishes and
self-taxing municipalities to exempt new
industrial enterprises and also lmproV-
90 unimproved lands by immigrants
into the State who occupy said lands
as homesteads, from local taxes for a
period MOTTO exceed ter. (10) years, and
Against the constitutional amendment
authorizing parishes and self-taxing
municipalities to exempt new industrial
enterprises and also improved value,
including structures, added to unim-
proved lands by immigrants into the
State who occupy said lands as home
steads, from local taxes for q period
not to exceed ten (10) years." and each
elector shall indicate on his ballot as
provided by the general election laws OF
the State whether he votes for or
against the said amenoment.
THOMAS C. BARRET,
Lieutenant Governor and President OF
the Senate a,,
Speaker Of the House Of Representatives
1Nppt = = : 80 L. E. HALL,
Governor Of the state Of Louisiana.
A true copy:
ALVIN E. HEBERT.
Secretary Of State.
ACT no. Q.
Senate Bill NO 8. BY Mr.. Burke,
Joint resolution submitting to the
people Of Louisiana an amendment to
the Constitution exempting from taxa
tion fer twenty COY years corporations
organized. to lend money on mortgages
on country property at not more than
six (6) per cent interest, net to the
borrower, with power to negotiate bonds
and securities of local taxing districts.
Section /. BE it resolved by the Gen
eral Assembly of the State of Louisiana
two-thirds of all the members elected to
each house concurring, That the follow
ing amendment to the Constitution of
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 first
Tuesday after the first Monday in the
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 or
country property situated In Louisiana
at rate of interest not to exceed sis
(6) per cent net to the borrower, with
power to negotiate and handle bonds
and securities issued by the various par
| tshes and local districts and nunicipali-
ties Of the State Of Louisiana shall
be exempt from taxation for twenty (20)
| years from the date Of the organization
Of each Of said companies provided thai
each Of said companies shall have ful
paid cash capital stock Of not lesg thar
| $3.50, 10000, and provided further thai
| in case any such corporation shall or
| any loan charge the borrower more thar
! six per cent interest, whether by way Of
| commission, discount or otherwife, i
shall forfeit the entire exemption S1ere
| in granted. and be subject to tt atior
| from the time it makes such 1oasS; ant
| any such corporation handling or ne
/ gotiating any sucurities other than those
| hereinabove mentioned Shall incur a LIKE
forfeiture.
No such corporation shall have powel
| to receive any money on deposit or tt
| do banking business of any sort, bu
| all such corporations shall be undel
| the control and supervision of the Stat
Bank Examiner. whose duty 1t shall b.
/ to report to the Attorney General ant
the State Tax Commission any viola
! tion of the condition OF this exemption
Section g. Be 1t further resolved, etc.
That there shall be printed in tht
ballots to be used at said election th'
words for the amendment to the Con
stitution exempting from taxation TO
| twenty (20) years corporations organic
4 ed for the sole purpose of lending none,
/ on country real estate situated In Lou
4 isiana at not more than six CO. pc
| cent to the borrower, with power to ne
/ gotiate and handle local securities" ant
/ the words "a Against the amendment t.
| the Constitution exernpting from taxa
| tion for twenty (2o9 years corporation
4 organized for the sole purpose of lend
1 ing money on country real estate situat
ed in Louisiana at not more than 81:
i (5) per cent net to the borrower witt
power to negotiate and handle loca
/ securities and each elector shall in
4 dicate on his ballot as provided by tn
general election laws Of the State
+, whether he voteg for or against the sais
| amendment.
THOMAS G. BARRET,
| Lieutenant Governor and President o
| the Senate.
/ L. q. THOMAS,
Speaker Of the House Of Representa- tives
| Approved: August 24th, 1912.
4 L. E. HALL,
Governor of the State Of Louisiana
4 A true copy
/ ALVIN E. HEBERT.
Secretary Of State.