The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1920-10-09

Indicate, as provided in the general
not he votes for or against the amend
r. F. WALKER,
Speaker of the House of Representa-
| HEWITT BoUANCHAUD.
Lieutenant Governor and President Of
the Senate.
approved: mo Sply x Z pA aysg;
Governor of the State Of Louisiana.
A true copy:
JAMES ]. BAILEY.
Secretary of State.
ACT NO. 153.
House Bill No. 37s-By Mr.. Claiborne.
Substitute for House Bill No. 1913.
JOINT RESOLUTION.
Proposing an amendment to Article 23o
of the Constitution of the State OF
Louisiana relative to exempting cer-
tain Industries located on the naviga-
ton Canal, New Orleans.
Section l.. Be i resolved by the Gem
| lana, two-thirds of all members elected
| to each House concurrfng. That the fol-
lowing amendments to the Constitu-
| ton of the State of Louisiana be sub
mitted to the electors of the State at
the next Congressional Election to be
held on the first Tuesday. after the hrst
Monday in November, 1890. making
L
Article $50. The following shall b
exempt from taxation. and no other,
VIZ: All public property, places OF re-
| Hgious worship, or burial; the rectorie:
grounds thereunto appurtenant. used
exclusively as residences for the min
| listers in charge of such churches. all
charitable institutions, all buildings
and property used exclusively for pub
lie monuments or historical collections.
colleges and other school purposes, the
real and personal estate of any public
library. and that of any other library
| such library, all books and philosophi-
cal apparatus. and all paintings and
statuary of any company or associa-
ton, kept in public hall: provided.
| the property SO exempted be not leased
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
lars. There shall be exempt from tax
alton for a period OF ten years from
the date of its completion. any railroad
! structed and completed subsequently to
January 1, 1905. and prior to January /,
1903. This exemption shall include and
apply to all rights of way. roadbeds.
| lures upon such rights of way, road
beds or sidings; and to all depots. sta
tion-houses. buildings. erections and
structures appurtenant to such rail-
u
but shall not include the depots. ware
houses, stationhouees and other struc-
lures and appurtenances nor the land
minal points. and for which franchises
have been granted and obtained:
whether same remain the property Of
the present owner or owners, or be
transferred or assigned to any cor
poration or corporations. person or per-
sons Whomsoever, and, provided fur
| Their, that this exemption shall not
| apply to double tracks. sidinss,
switches. depots or other improvements
| or betterments, which may be con-
structed by railroads now In operation
within the State, other than extensions
or new lines constructed by such rail-
roads; There shall be exempt from
taxation the legal reserve of life insur-
ance companies organized under tho
laws of this State. The property sos
rsa. essafe belonging aS to any military
which Is used by the State National
Guard or militia for military purposes.
such as arsenals or armories, while %
used. shall be exempt from taxation.
There shall also be exempt from tax.
alton, loans made upon the security Of
mortgages granted upon real estate
situated in this State, az well az .he
and the notes, bonds or other written
instruments evidencing the said loans,
whether in the hands of the mortgagoe,
or his or their transferees: and AL
to their policyholders. upon - sole
security of policies held By the bor-
rover in the company making the
loans, az well as all notes or other
loans; provided, that in the case Of
loans upon policies of life insurance,
as aforesaid, the rate OF interest
charged upon such loans does not ex-
count.
The capital. surplus and personal
estate of every corporation organized
after November 23rd. 1912. in this State
| money on mortgages on country
property situated in Louisiana At .
rate of interest not to exceed six per
cent (6%) net to the borrower. With
power to negotiate and handle bonds
and securities issued by the various
parishes and local districts and mu-
inequalities of the State of Louisiana
twenty t2o5 years from the date Of
the organization of said companies;
provided. that said companies shall
have full-paid cash capital stock Of
further, that in case any such corpor-
alton shall on any loan charge the bor-
rover more than six per cent interest.
count or otherwise, it shall forfeit he
entire exemption herein granted, and
be subject to taxation from the time Il
| makes such loan; and any such ooF-
pOl9tiOu HduoilnS VI uc8Otidln8 my
securities other than those hereinabove
mentioned shall incur a like forfeiture.
Nc such corporation shall have power
to receive any money on deposit or 70
do banking business of any sort, but
all such corporations shall be under
the. control and supervision Of the Ex-
aminer Of State Banks, whose duty Il
shall be to report to the Attorney
General any violation of the condition
Of this exemption.
Steamship companies organised a.
hereinafter set forth, together with
their capital stock and all their prop
erty. corporeal and incorporeal. shall
be exempt from all taxes and licenses,
State, parish, Icvee and n:ur icipal, both
general and special, exclusive Of wharf
! Age. shed or levee Dues, for fifteen
years from the date Of fling with the
Secretary of State proof that their
authorized capital stock has been paid
| in full In cash.
No such steamship company shall
have the benefit Of this Constitutional
provision except upon the following
| conditions:
Ftrst-That such company shall have
been organized and the whole Of its
authorized capital stock paid In cash
before January LIST. 1915. a