The Bienville Democrat. [volume] (Arcadia, Bienville Parish, La.) 1912-1980, 1920-10-14

nlectjon laws of the State, whether VI
not he votes for or against the amehu-
ment
R. F. WALKER,
Speaker OF the House OF Representa-
~ HEWITT BOUANCHAUD'
Lieutenant Governor and President u
the Senate.
Approved. July I 1920.
JNO. NJ. PARKER,
Governor of the State of Louisiana.
A true copy:
JAMES ]. BAILEY,
Secretary of State.
ACT NO. 153
House Bill No. 376-By Mr ClainOrhe'
Substitute for House Bill No. l99.
JOINT RESOLUTION. ooo
Proposing an amendment to Articte Soe
of the Constitution Of the STATE OIL
Louisiana relative to eXemptlns GER
tain industries located on the naVlsa-
ton Canal New Orleans.
Section |. Be it resolved by the GEN
eral Assembly of the State OF LOUIS,
lana, two-thirds Of all members elected
to each House concurring That the iol-
lowing amendments to the Cohstftu-
ton Of the State of Louisiana be SUD.
mitted to the electors OF the state az
the next Congressional Election to pc
held on the first Tuesday after the hrst
Monday in November, 1920, making
said Article read as follows;
Article 250. The following shall pc
exempt from taxation, and no 0ther'
viz: All public property, places OF re-
ligious worship, or burial, the rectorles'
and parsonages OF churches anu
grounds thereunto appurtenant USED
exclusively as residences for the MN,
Sters in charge of such churches, al
charitable institutions, all bullnings
and property used exclusively Tor pup
lie monuments or historical coitectioHs'
colleges and other school purposes, tne
real and personal estate or any pupilc
library, and that Of any other library
association used by or connected Win
such library, all books and philosopni,,
cal apparatus, and all paintings anu
statuary Of any company or assocla-
ton, kept in public hall; proVlueu,
the property so exempted be not ieasea
for purposes of private or corporate
profit or income. There shall also DC
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
or part of railroad that shall be con
structed ard completed subsequently TO
| January 1, 1905. and prior to January /,
1909 This exemption shall Include ana
! apply to all rights of way, roadDeds'
sidings, rails, and other superstrucc-
| lures upon such rights of way, road
beds or sidings; and to all depots, sta,
ton houses. buildings, erections and
| structures appurtenant to such rail-
roads and the operation of the same;
| but shall not include the depots, ware
| houses statiOnhouses and other struc-
lures and appurtenanceS nor the land
! upon which they are erected al ter
! minal points, and for which franchises
have been granted and obtained
whether same remain the property OF
the present owner or owners, or De
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, sldlngs
switches, depots or other improvements
or betternents, which may be con.
structed by railroads n0w 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 the
laws Of this State. The property OF
real estate belonging to any military
organization of the State of Louisiana
which is used by the State Nationa
| Guard OF, militia for military purposes
such as.arsenals or armories, while sc
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, as well as 'ht
! MORTGAGES granted to secure said loans
and the notes, bonds or other WRITER
! instruments evidencing the said loans
whether in the hands of the mortgage
or his or their transferees; and al
loans made by life insurance companies
TO their policyholders, upon the sol
security Of policies held by the Dor
rover in the company making tn
loans, as we'll as all notes or othe,
written instruments, evidencing sucl
! loans; provided, that In the case o
loans upon policies Of life insurance
as aforesaid, the rate OF interes
charged upon such loans does not ex
ceed FIVE per cent (5fo) per annum dis
count.
estate of every corporation organlzc'
after November GARD, 1912, In this Stat
for the sole purpose OF lendins
money on mortgages on couhtf.
property situated In Louisiana at
rate of interest not to exceed SIX pc
cent (6go) net to the borrower, WIZ
power tc negotiate and handle posd
and securities issued by the varlou
parishes and local districts ana ma
inequalities Of the State OF Loalslan
shall be exempt from taxation 10
twenty COY years from the date O
the organization OF SAID companies
provided, that said companies shal
have a full-paid cash capital STOCK 0
NOT less than $2b0,O00; and, PROVIDE
further, that In case any such corpor
alton shall on any loan charge the Dor
rover more than six per cent interest,"
whether by way of commission. dis
count or otherwise. it shall forfeit tn
entire exemption herein granted, an
, be subject to taxation from the time
makes such loan; and any such cor
poration handling or negotiating an
securities other than those herelnaboV
mentioned shall incur like forfeiture
No such corporation shall have poWe
, to receive any money on deposit or |
, do banking business Of any sort, bu
. all such corporations shall be unde
the control and supervision OF the Elk
! aminer of State Banks, whose duty
, shall be to report to the Attorne
General any violation of the conditio
J Of this exemption
, Steamship companies organized a
!. hereinafter set forth, together Wit
their capital stock and all their prop
r erty. corporeal and incornoreal, sha
, be exempt from I'LL taxes and license
. state. parish, Ievee and Mur icipal, bot
. general and special, exclusive OF Whar
! age. shed or levse dues, Tor flftee
{ years from the date OF fling with n
r Secretary of State proof that the
authorized capital stock has been pal
/ in full in cash.
3 No such steamship company sha
! have the benefit of this Constitution
provision except upon the folloWln
1 conditions: :,
r First-That such company shall ha,
been organized and the whole or ]
= authorized capital stock paid In cas-
/ before January LIST, 1915.
4 Second-That such company shall'l
n lomiciled in the City Of New Oriean
r or in some other port of this State.
+ Third-That such company shall ha,
4 a CAPITAL stock OF at least three mi
Hon dollars, payable only In cash.
a Fourth-That 1t shall be provided
o the charter Of the company. that
t corporation, or firm, or individual sha
!. own or control, either directly or Il
1 directly, more than one-twentieth
a the capital stock Of the company; 81
: that all pooling agreements and votil
). trusts between the stockholders,
A. oou~Nra tim chQ1 hp abs