St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-10-02
AMENDMENTS TO THE
CONSTITUTION OF
LOUISIANA

| (COnL1nuou. from page o
| 23O of the Constitution of the
| Stale of Louisiana relative to *
enpting certain industries locat-
ed Z the Navigation Canal New
| Orleans.
Section /. Be it resolved by the
| General Assembly of the State OF
Louisiana, two-thirds Of all members
elected to each House concurring,
That the following amendments 10
the Constitution Of the State Of LOU
isiana be submitted to the electors
OF the State Ut the next Congressioa-
al Election TO be held on the nrsl
Tuesday after the first Monday In'
| November, 1920, making said Article
read as follows:
Article 230. The following shall
be exempt from taxation, and no
other, VIZ: ALI public property,
places CT religious worship, or burt-
al, the rector1es and parsonages OF
churches and grounds thereunto ap-
lpurtenent, used exclusively as res
dences for the ministers in charge
of such churches, all charitable IN
stitutlons, all buildings and proper
ty used exclusively for pubic mon1-
ment5 or historical collections, col
leges and other school purposes, The
real aid personal estate OF any pub
| lie library, and that Of any otner
| library asso :iation used by or con-
nected with such library, all book
and Philosophical apparatus, and al.
paintings ana statuary OF any con
pany or assoc alton, kept in pup
lie lall; provided, the property S"
/ exeml ted De not leased for purposes
OF private Or corporate proht or IL
come. There shall also be eXempt
| from taxation household property &c
1 the value OF i've hundred dollars.
/ There shall be exempt from taxation
for 4 period of ten years from tIa
date Il it's completion, any railro Al
or part OF railroad that shall be CO l.
structed and completed subsequent
iy to January l, 1905, and prior te
January l, 1909. This exemption
shall include and apply to all rights
of way, roadbeds, sidings, rails, ana
other superstructures upon such
rights of way, roadbeds or sidings;
and to all depots, station-Eouses,
buildings, erections and structures
appurlenant to such railroads aud
the operation of the same; but shall
mot include the depots, warehouses,
jstation houses and other structures
land appurteLances nor the land up
on which they are erected at terml-
NAL points, and for which franchises
fhave been granted and obtained /;
whether same remain the property
of the present owner or owners, Or
be transferred OR assigned to aug
corporation or corporations, person
or persons Whomsoever, and, pro-
vided further, that this exemption
shall OF apply to double tracks, sid
ings, witches, depots or other inn
proveinents or betterments, which
may ne constructed by railroads now
In operation within the State, other
! than extensions or new Lines coa
structed by such railroads. There
shall be exempt from taxation the
legal reserve Of life insurance con-
Ipan:es organized under the laws Of
this State. The property or real eS-
tate belonging to any military Or
lganiZ4tion of the State of Louisiana
which Is used by the State National
lGuard or Militia for military pur-
iposes, such as arsenals or armorio5,
while SO used, shall be exempt from
taxation. There shall also be e2-
Tempt, from taxation, loans made u
on security OF mortgages granted u ,
ON real estate situated in this State,
as well as the mortgages granted 10
Isecure said loans, and the notes
bonds, or other written instruments
levidencing the said loans, whether
in the hands of the mortgage, or his
Or their transferees; and all loans
made by life insurance companies to
their policyholders, upon the sole
lsecurity Of pol held by the boz
rover in the company making the
loans, as we'll as all notes or othCl
written instruments, eyidencing suril
loans, provided, that in the case u
as aforesaid, the rate of interest
tcharged upon such loans does not sA
coed five per cent 6 per cent? per
annum discount.
The capital, surplus and personal
estate OF every corporation organic
ed after November 23rd, 1912, N
this State for the sole purpose CT
lending money on mortgages on
country property situated in Louis
ana at rate of interest not to ex-
coed six per cent C per cent? net t.
the borrower, with power to negn-
tiate and handle bonds and secur'-
ties issued by the various parishes
and local districts and municipalities
of the State of Louisiana shall be ex-
empt from taxation for twenty (29l
years from the date Of the organiza-
ton of said companies; provide L.
that said companies shall have a
! fu.l7paid cash capital stock of not
ess than 100000; and, provld-
ed further that in case any such co :
| oorat IN shall on any loan charge the
| borrower more than six per cent tn
terest, whether by way of commits
| ion, discount or otherwise, it shall
FORFEIT the entire exemption herein
| .trantad, and be subject to taxatioa
rom the time It makes sHch l07,,
md any such corporation handling
Or negotiating any securities otner
| than those hereinabove mentioned
shall incur like forfeiture.
Sucn corporation shall have power
10 receive airy money on deposit or tD
| DO a banking business of any sort,