The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1912-11-02

per centum per annum payable an
nually or semi.annuaIIy, which bonds
shall not be sold for less than par;
and said Board Of Drainage Commits
sioners shall levy annually upon said
land forced contributions Or acreage
taxes in an amount sufficient tC
maintain the drainage of said land,
to pay the interest, annually or
semtannually, and the principal fall.
ing due each year, or such amount
as may be required for any sinking
fund provided for payment of said
bends at maturity, provided, that such
forced contributions or acreage taxes,
for all purposes shall never exceed
Three Dollars and Fifty Cents ($3.50)
per acre per annum.
Paragraph 4. The police juries of
the various parishes throughout the
State, for the purpose of construct
ing highways and public buildings for
the parish, and the governing au-
thorities of municipal corporations,
for the purpose of paving or improv-
ing streets or alleys, and for all mu-
nlcIpa improvements, after making
provision for the payment of all stat
utory and ordinary charges, may fund
into bonds running for a period not
exceeding ten 00) years, and bear
ing interest at a rate not exceeding
five (5) per centum per annum,
which bonds shall not be sold for less
than par, the avails of the residue
OF the ten QO mill tax authorized
by Article 232 of the Constitution of
Louisiana.
Paragraph 5. Should any of the
subdivisions of the State neglect or
fail for any reason to impose or cal
lect the taxes provided for in the
foregoing sections, any person in in
tereSt may by summary proceedings
III the district court having jurisdic,
ton, enforce the imposition Or col
lection Of such taxes, or both, and
such proceedings shall be filed and
triable free to any cost to the litigant.
Paragraph G. Municipal corpora
lions, parishes and school, drainage,
subdTainage, road, subrosd, naViga-
ton and sewerage districts (the City
of New Orleans excepted,) herein
after referred to as Subdivisions,
when authorized to do so in the man.
ner herein provided, may, for the
purpose of readiusting, refunding, eX
tending or unifying their bonded in
debtedness, issue new bonds, cover
ing any particular issue or issues of
bonds or the whole outstanding bond
ing Indebtedness incurred by such
subdivision for the purposes specified |
in Paragraph 1 Of this article or any
issue of refund issue bonds or renew
al Or refunding bonds issued by such
subdivision in n0vation or renewal |
and any bonds, heretofore Or here
after issued for the purposes speci-
fled in said Paragraph l of this Ar
ticle. No bonds issued under this
shall run for more than
forty (40) years from their date, nor
shall bear a greater rate of interest
han five per centum per annum,
payable Semi-annually or annually and
shall not be sold by such subdivision
ssuing the same for less than par.
Any bonds issued under this Article,
nay be, either in whole or in part
value for value for bonds (
ssued, under Article PSI, or to be is
ued under said Paragraph 1 of this I
Article, or sold and the proceeds q
hereof used for the purpose of pur- q
hasing outstanding bonds. Before !,
ny bonds shall be issued under this "
aragraph the issuance thereof shall =
g authorized by a vote of majOri- :,
in number and amount of the prop =,
rty taxpayers qualified to vote IN q
er the Constitution and laws of this 70
tate who vote on the proposition at
4 election held for that purpose, af- g
n due notice of said election has "
cen published, for thirty days in the
F1cid journal Of the parish or par
hes in which said subdivisions are
Gated, or where there is no Off 4.
al Journal, in any newspaper pub
she'd in such parish or parishes, r.
DIVIDED, however, that the govern
& BODY OF any such subdivision may
their discretion and without
tie of the property taxpayers. is
e refunding or renewal bonds IN.
T this paragraph, if the bonds to
refunded or renewed thereby
We been or shall be issued for any Sc
the purposes specified in said Par
raph 1 Of this Article, or in nova
n or renewal of any bonds issued
to be issued for the said DurnOSac Fr