New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1920-10-30
ACT NO. 153.


JOINT RESOLUTION
Proposing an amendment to Article SSg
of the Constitution of the state or
Louisiana relative to exemptinF GER
tain industries located on the naviga-
ton Canal, New Orleans.
Section 1. Be IL resolved by the Cen
sral 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
mitted to the electors OF the State at
the next Congressional Election to be
held on the first Tuesday after the first
Monday in November. 1890, making
said Article read as follows:
Article 230. The following shall be
exempt from taxation, and no other,
viz: All public property. places of re-
ligtous worship. or burial, the rectories
and pRrsonages of churches and
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
asse citation used by sr connected with
cal apparatus, and all paintings and
statuAry OF any company or associa
ten, kept In a public ball; provided
the property no exempted be not leased
profit or income. There shall also be
exempt from tRxatioa household prop
serty 20 the valse of i've hundred dol
lars There shall be exempt from tax
alton fer a period of tea years from
the date of It's eompletfoa. any Railroad
or part of railroad that shall be con
structed and eomplsted subsequently, to
JssSsHuATx !. 1906. and prior t. January I
apply to all rights of way, roadbeds,
sidings, rails, and other supsTstruc-
lures upon such rights Of way, road
beds or stdings: and to all depots, sta
ton houses, buildings, erscuons and
structures appurtsnant to such rail-
roads and the operation of the same;
but shall not include the dspots. ware
houses, stationhouses and other struc-
upon which they are erected at ter
nainAl points and for which franchises
have been granted and obtained;
whether same remain the property OF
Transferred or assigned to any cor
poration or corporations, person or per-
sons whomsoevsr, and, provided fur
Their. that Tits exemption shall not
switches. depots or other improvements
or battsrments. which may be con-
structed By railroads now In operation
Within the State, other than extensions
reads. There shall be exempt from
taxation the legal reserve Of life insur-
aRce companies organised under the
laws of this State. The property or
os s:.si: y &. e e q
whtch 10 used ~ ths State National
sase 40 arsensls or armeEiss- whlle 20
There SHAH alss be sxempt frosa tax
atson. leans nAaAs upeR the security Of
mortgages Grantsd upon real estate
situated In this Stats, rs we'll AZ -hs
waA pA~ - 80 A. La
ana tAs nstss, bends or ether VII teen
instFusnN@ts svtassekag the said loaDs.
whether In the ha ads % the rnoYtgawse,
or Ais or tAsar trAAsfsrsss; and all
Leans made By life INSURANCE eenDAAies
TO tksir pslicvA elders. rpcR tAs ~Esls
security Of psifoiss held by the ber-
rewer In Aa osmsany making the
lesns az weA as all nssss or ether
leans: previAeA, thst IN the case of
loans uHca policies % life assurances,
as aforesaid, the rate OF Interest
s sssss: ~. s.s sssa .s a9s: .ss ala
The capital surpixz and personal
estate Of every cooperation organised
s -. n.vsIs is sSsa lsas In this ss..s
money ON mortgage on country
property situated In Louisiana Mt a
rate OF interest net to exceed six per
cent $50 net e tie eerrs Ss , With
and securities issaed by the various
parishes and Local districts and nan
inequalities of the State of Louisiana
ss ,. t,s yr f fro g.. s.,. for
the Organisation of said companies;
provided, that said companies shall
have fwll-paM cash capital stock Of
net less thsn ssse,eoe: and provided
axton SHALL on any lean charge ths beF-
rewer more than SIX per cent interest,
Ssssss % snsMstion ssrssn srasssS. ana
be subject DO tAzstisa fre<n the time 1t
makes such IeAn: and any such ssr-
psyetlea hanA1tAg or Rssotinting aay
G ali isssr lis ss i torisissrs
Ne ssssA esrvsv~sisa sail have power
- rseskys aAy ssezsy 90 ds1sstt or TO
de q hAnktns hssissss 81 asv sert, bat
tSs ssssrei sss ssssr...ss . Of - sss M
amaFex % 1s@As nAassA whoss duty IL
shaA - to rs1ert to the Attsrnsy
0eaeeai s4sy vts1~<bse Of the sonditssn
seenMssA2p ss@yesiss organised as
hars&naltsg set Ssv<h, together with
thssr saS9s.l s4esk and AL their pree-
GREY. es~Dsrsal ana inee~porsAL shall
skasA. rssf.A. Isvse asA nuEicipal, beth
general amd - se&al exclusive of wharf-
ago, Mssd sr lsvss 4ass for B<teen
years fF0<m the 4&cs@ or AilhE with tue
Beer stsfy Of 1sa&s prsof that thsir
aHth ertssA espsesi sseek hss been paid
Ia fnM in eaAk. aH 10 asettflf fa6aTf 81
6s ss1A sAaanahip company aaslI
have ~ bensat Of thss Comtt utienal
prsyfsiSn exospt upon the follo wing
oan<ssftenz: mi Fe5# fAf RI
Mrst-That SAGA company shall have
ben sFgantzsd and the whole of its
authorfsss capital stock paid In cash
before January ist. zs1s.
Seoon6--That sach company shall be
Aerni eflad in the City Of New Orleans
or In sorns other port Of this State
Third-That sueh company shall have
q capital stock 81 at least three mil
lion dollars. payable only in cash.
Fourth-That 1t shall be provided in
the charter OF the company that no
corporation, or firm, or individual shall
own or control. either directly or in
directly, more than one wentfeth OF
the capital stock of the co7npany: and
that all pooling agreements and voting
trusts between the stockholders to
control the corporation shall be abso-
lutely' nun and void and no stock held
in any such peel or voting trust shall
ever be voted 81 any corporate election
or meeting,
Fafth--That the capital stock of each
company shall be open TO public sub
acrfption By public advertisements in
the New Orleans newspapers for AT
least three mon this before the books
are closed, and IL over. subscri bed shall
be apportioned among the subscribers
ar ali