The Era-leader. [volume] (Franklinton, La.) 1910-current, 1920-10-21

Approved: July I. l9Io.
JNO. NJ PARKER.
Governor of the State Of Louisiana.
JAMES ]. BAILEY.
Secretary OF State.
ACT NO. 152
House Bill No. 37G-I:y Mr. Clalhorne'
Substitute for Honse III NO. l'''
| JOINT RESDLtTioN. ooo
proncsinc an amendment TO Article Z"o
OF the Constitution of tn. STATE o.
Louisiana relativ. to "XemptlhG GER
| tain industries located on the haNiea
| ton Canal, New Orleans.
Section l. Be it resolved by the Cen
sr,l Assembly of the state Of Louis
lana two-thrd. of all members elected
| TO each House concurring. That the Ioi-
lowing amendments to the Consutu-
ton of the State Of Louisiana ne SUP
mitted to the electors of the state at
the next Congressional Elecuon 10 pe
| held on the first Tuesday after the hrst
| Monday in November 1920, making
said Article read as follows:
Article 230. The following snail De
EXEMPT from taxation. and no other,
VIZ: All public property, places OF re-
ligious worship. or burial: the rectorles
and parsonages of churches and
grounds thereunto appurtenant, used
exclusively as residences for the min,
isters In charge Of such churches, al
charitable institutions, all buildings
and property used exclusively Tor pup.
lie monuments or historical coIections'
colleges and other school purposes. tne
real and personal estate OF any puohc
library. and that Of any other library
association used by or connected with
such library. all books and philosophi..
> cal apparatus. and all paintings ana
statuary Of any company or assocla-
!, ton, kept in a public hall; provlaeo;
! oi no leGSed
for purposes Of private or corporate
profit or income. There shall also be
: exempt from taxation household prop.
erty to the value Of FIVE hundred DOL.
n lars. There shall be exempt from tax
alton for period Of ten years from
or part Of railroad that shall be con-
: structed and completed subsequently 70
: January ], 1905, and prior to January 1
n 1909 This exemption shall INCLUDE anu
!, apply to all rights of way roadbeos
q sidings rails. and other superstruc'
8 beds or sldinGs; and to all depots sta,
8 tion.housas, buildings, erections anc
structures appurtenant to such rail
roads and the operation OF the same
= but shall not include the depots, ware
houses, stationhouses and other etruc
:. lures and appurtenances nor the lans
u upon which they are erected at ter
minal points, and for which franchise'
have been granted and obtained
whether same remain the property o
d. the present owner or owners, or b.
transferred or assigned to any cor
poration or corporations, person or per
sons yhomsoeyer and, provided fur
Their, that this exemption shall no
. apply to double tracks, sidingl
switch s depots or other Improvement
or betterments, which may be con
"a structed by railroads now in operation
~ within the State other than extension
ID or new lines constructed by such rail
=, "a roads. There shall be exempt fsor
70 taxation the legal reserve Of life insur
ance companies organised under tn
10 laws of this State. The property
"a real estate belonging TO any, militar
at organization Of the State OF Louisian
a. a. which is used by the State Nations
~ such as zrsenals Or armories, while
~ used. shall be exempt from tasatio,
ID There shall also be exempt from tax
III alton, loans made upon the security Q
er mortgages granted upon real esta'
Nv and the notes, bonds or other Write
~ instruments evidencing the said loan
~ whether in the hands Of the mortgage
Nc Nc or his or their transferees; and a
-. loans made by life insurance companit
no to their policy'holders, upon me so
q. rover in the company making II
'' loans, 40 we'll as all notes or oth'
~ written instruments, eridencing sut
Il. loansj provided, that in the case
" loans upon policies OF life insuranc
ar as aforesaid, the rate of intere
H. charged upon such loans does not e,
n coed FIVE per cent t5T) per annum di
,r- count
r.. The capital. surplus and person
,se estate of every corpora ton organic
led after November 73rd, 1919. In this Sta
I'VE for the sole purpose Ut lendii
IN property situated in Louisiana at
ere rate of interest not to exceed six p
An cont (6T) net to the borrower, wi
ON power to negotiate and handle bon
IN. and securities issued by the vario
led parishes and local districts aad m
en- shall be exempt from taxation f
ar the organization of said companis
.es provided, that said companies sh,
ar, have full.paid cash capital stock
to not less than s250,oooi and, provid
de- further, that In case any such corpo
"a alton shall on any loan charge the be
r IL rover more tAan SIN per cent lhtere
Of whether by way of commission. d
ueh count or otherwise, 1t shall forfeit t
ion entire exemption herein granted, a
re- be subject to taxation from the time
Ave makes Such loani anu any sucn cS
For: poration handling Or negotiating a
ted securities other than those hereinabc
and mentioned shall incur a like forfeitp
red No such corporation shall have pow
all to receive any money on deposit or
AS do banking business OF any sort,
this all such corporations shall be un.
rior the control and supervision Of the I
ion: aminer of State Banks, whose duty
who shall be to report to the Attorr
lors General any violation of the conht
red OF this exemption.
be Steamship companies organized
rms hereinafter set forth, together v
der their capital stock and all their pr
her, erty, corporsal and incorroreal, 81
or be exempt from I'LL taxes and licen!
rom State, parish, Ievee and muir icipal, b
this general and special, exclusive Of wha
ions age she'd or levee dues, Tor Mt
,,ali years from the date VI Ming with
! of Secretary Of State proof that II
,llar authorized capital stock has hsen +
tax III full IN cash.
ided No such steamship company 81
nora have the benent OF this Constitute
all provision except upon the follow
ar | conditions.