The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1912-10-26

and power purposes to be completed
within five f5) years with a capital
of not less than five million dollars"
And each elector shall indicate as pro-
vided in the general election laws OF
the State whether he votes for or
THOMAS c. BARRET.
Lieutenant Governor and President
of the Senate
Speaker of the House of Represen-
L. F. HALL.
Governor of the State of Louisiana
ALVIN e. HEBIsRT.
Secretary of State
ACE NO. IL.
Senate Bill No s. BY Mr.. voegtle.
Joint resolution proposing an amend
ment to the Constitution of the State
the legal reserve of life insurance com
names organized under the laws of this
State.
Section /. Pc it resolved by the
isiana. two-thirds of all the members
elected to each house concurring. That
| the following amendment to the Con-
stitution of the state be submitted to
| the qualified electors OF the State for
! their abortion or rejection at the con-
gressional election T., h, held on the
| first Tuesday after the first Monday IN
the month of November, 1912. as fol-
lows:
There shall be exempt from all tax
alton the legal reserve of life insurance
companies organized under the laws Of
1 this State.
Section 2. Be 1t further resolved.
etc, That the official ballot to be used
at said election shall have printed
| thereon the words: For the proposed
| amendment to the Constitution of the
State Of Louisiana exemuting from all
| taxation the legal reserve of life in
surances companies organized under the
laws of this State and the words;
Against the proposed amendment to the
Constitution of the state of Louisiana
exemptirg from taxa dion the legal re-
serve of life insurance companias or
And each elector shall Indicate as pro-
vided by the general election laws of
| the State. whether ne votes for or
against the rrouosed amendment
| THOMAS c. BARRETT.
Lieutenant Governor and President
| L. &. THOMAS.
Speaker of the House of Represen-
Approved: August gath. 1912
Governor of the State of Louisiana.
ALVIN z. HEBERT.
Secretary OF State
| ACT No ~
HOUSE Bin No. 2. BY Mr. Roberts.
Joint resolution submitting to the peo-
pie of Louisiana an amendment tn the
Constitute n reorganizing and remodeifns
the Sfate'r System OF assessment and tax
alton.
eral Assembly of the State Of Louisiana.
two thirds OF all the nembers elected
to each House concurriug, That the fol-
flowing amendment to the Constitution OF
lsl - .xsef. 10 xx1 81 he, ma
Is hereby submitted to the qualified cleo
tors of the State at the Congressional
election TO he held on the first Tuesday
after the first Monday IN the month Of
November. in the year 1912, to-wit:
Article I.
| I. The taxing power shall be exer-
cised by the State and by its subdivis-
ions for public purposes only.
| 2 The taxing power shall never be
surrendered suspended, given. commu-
\ ted or contracted away. hut where rar
grant exemptions from parish or nuni-
] cipal taxes for a period not ~ exceed ten
years from date Of coEDletion 10 en-
courage the establishment of industrial
enterprises. or similar exemption to inn
migrants of the value added by them to
vacant property owned and occurred as a
homestead, such exemptions shall not be
withdrawn either as to enterprises es-
/ tablished or substantially begun in good
faith, to immigrants who have actu-
ally acquired and improved or in good
faith begun to improve their hor1esteade.
since the granting Of the exemption The
and the governing authorities of all sub
divisions of the state on behalf Of ssch
subdivision. may defer for not more than
three years the collection of taxes in To-
calitfes subjected to overflow or other
public calamity.
3. The General Assembly shall have
newer to classify all a rroperty for taxa s
rates for different classes Int such rules
and rates shall be equal and uniform on
all subjects Of the same class throughout
ievying the tax All such classifyations
shall be hased on the characteristics Of
the property itself or its use, and never
on persons or. ownership.
4. ExceUt In case of foreign invasion
| or domestic revolution. the General As
sembly sheli not have rov er TO levy
any ad valorem property tax IN excess If
| f~u- PEI cent: but the General Assembly
half per cent excect bv vote Of two
thirds of all the members elected to each
house thereof.
|. ]. The sources OF State and local rev.
erue shall be segregated and. except as
hereinafter srecifed, or as may he here
after permitted by 2 vote of two-ttirds
OF al the members elected TO each House
n tho Cereal Assembly. each taxing
authority shall be restricted in taxation
to - own sources OF revenue as herein
assigned.
. urfi' otherwise provided by a vasn
If twr-fh'-cs of all the members elected
IN each House Of the General Assembly
he sruowing shall be the sources Of
Ist. The special taxes hereinafter pro-
vise5 CIR.
End All corporations private PERSON.
and urincorrorafed associations that or
eicficn Of the Railroad Commission Of
louisiana: street railroad: combined