The Colfax chronicle., 1920-09-04

Indicate, as provided in the general
election laws of the State: whether or
ment
Speaker of the House Of Representa-
| HEWITT BOUANCHAUD. !.
Lieutenant Governor and President OF
| the Senate.
| Approved: July T. 1920.
JNO. M. PARKER,
Governor of the State of Louisiana.
JAMES j. BAILEY.
Secretary of State.
ACT NO. l53.
House Bill No. 376-By MIR. Claiborne.
Substitute for House Bill No. 1879.
JOINT RESOLUTION.
| Proposing an amendment to Article 23O
of the Constitution of the State OF
| Louisiana relative to exempting GER
tain industries located on the naviga-
| tion Canal, New Orleans.
Section /. Be it resolved by the Gen
erai Assembly of the State of Louis
lana, two-thirds of all members elected
to each House concurring. That the fol-
lowing amendments to the Constitu-
ton of the State of Louisiana be sub
| the next Congressional Election to be
held on the first Tuesday after the first
Monday in November. 1920. making
Article 230. The following shall be
exempt from taxation, and no other,
viz: All public property. places OF re-
ligious worship. or burial the rectories
and parsonages of churches AND
| grounds thereunto appurtenant. used
| exclusively as residences for the min
listers in charge of such churches. all
and property used exclusively for pub
| lie monuments or historical collections.
colleges and other school purposes, the
real and personal estate of any public
bro nj fhnf NJ nm W <Nfh ri -
association used by or connected with
| such library. all books and philosOphi-
cal apparatus. and all paintings and
statuary of any company or associa-
tion. 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 period of ten years from
the date of it's completion. any railroad
or part of railroad that shall be con-
structed and completed subsequently 10
January l. 1905, and prior to January !.
1909. This exemption shall include and
sidings. rails. and other superstruc-
lures upon such rights of way, road
beds or sidings; and to all depots. sta.
tion-houses, buildings. erections and
roads and the operation Of the same;
but shall not include the depots. ware
houses, stationhouees and other struc.
lures and appprtenances pp = nor the land and
minal points, and for which franchises
have been granted and obtained
whether same remain the property OF
the present owner or owners. or bs
transferred or assigned to any cor.
poration or corporations, person or per-
sons whomsoever. and, provided fur.
ther. that this exemption shall moi
switches, depots or other improvementl
or betterments, which may be con.
structed by railroads now In operation
or new lines constructed by such rail
roads. There shall be exempt from
taxation the legal reserve OF life insur
J ance companies organized under tn
real estate belonging to any militar,
organization of the State Of louisiana
, which is used by the State Nationa
, Guard or militia for military purposes
used, shall be exempt from taxation
There shall also be exempt from tax
alton. loans made upon the security o
. mortgages granted upon real estat
| situated in this State, as well as IN
mortgages granted to secure said loans
: and the notes, bonds or other writer
instruments evidencing the said lonnf
whether in the hands Of the mortgagee
J or his or their transferees;- and al
loans made by life Insurance companie
} | to their policyholders, upon the sol
j security of policies held by the Dor
loans, as well as all notes or othe
written Instruments, evidencing sue
: loans; provi6ed, that In the case o
loans upon Poiicies Of life insurance
: charged upon such loans does not ex
ceed five per cent t5So) per annum dis
count.
: estate of every corporation organize
after November 23rd, 1912, In this Stat
} for the sole purpose OF lending
; money on mortgages on countr
: property situated in Louisiana at
: rate of interest not to exceed six pc
, cent (696) net to the borrower. wit
a power to negotiate and handle bond
and securities issued by the variou
) inequalities of the State. of Louisian
: shall be exempt from taxation 70
twenty (20) years from the date o
: the organization Of said companiel
: have full-paid cash capital stock Q
, not less than $250,000: and provide
further, that in case any such corpor
alton shall on any loan charge the Dor
whether by way Of commission dis
4 count or otherwise. 1t shall forfeit tn
4 entire exemption herein grantedy an
: be subject to taxation from the time
e makes such loan; and any such cor
!; poration handling or negotiating an
securities other than those hereinabov
mentioned shall incur a like forfeiture
Ne such corporation shall have powe
: to receive any money on deposit or {
3 do banking business of any sort. bu
8 all such corporations shall be unde
: the control and supervision Of the Ex
/; aminer of State Banks, whose duty
shall be to report to the Attorne
, General any violation of the conditio
1 of this exemption.
9 Steamship companies organized q
, hereinafter set forth, together wit
: their capital stock and all their prop
:, erty, corporea1 and incorporcal, shal
: be exempt from all taxes and licensei
a State, parish, Ioyee and mur icipai. bot
3 general and special, exclusive Of wharf
2 age, shed or levee duss. for fftee
! years from the date of Ming with tn
( | Secretary of State proof that thei
: authorized capital stock has been pat
: in full in cash.
d No such steamship company sha
9 have the benefit of this Constitutions
] provision except upon the follewin
: | conditions: sgs