The Donaldsonville chief., 1920-10-30

indicate. as provided in the genera
| election laws OF the State, whether o.
not he votes for or against the amend
| ment.
r F. WALKER
Speaker of the House OF Representa-
tives
HEWITT BOuANCHAuD
lieutenant Governor and President o.
! the Senate.
Approved: ,>n lHly y, :; is59 :; mn
Governor or the State OF Louisiana
| A true copy:
JAMES j, BAILEY.
| Secretary Of STATE.
| ACT NO. 1853
House Bill No. a7s-By MIR. Claiborne
! Substitute for House Bill No 1879.
| JOINT RESOLUTIOE
Proposing aa amendment to Article s2t
Of the Constitution OF the State ei
Louisias1a relative to exempting GER
| tain Industries located on the navisa
ton Canal. New Orleans.
I Section l. 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 ths fol-
| lowing amendments to the Constitu
ton Of the State OF Louisiana be sub
mitted to the electors OF the State a,
the next Congressional Election to be
held on the first Tuesday after tho frst
Monday in November, 1890, making
said Article read as follows:
Article 2so. The following shall be
exempt from taxation, and no other
| VIZ: All public property. places OF re-
! liglous worship, or burial. the rsctories
and parsonases OF churches and
grounds round: thereunto Il tc appurtenant, used
| isterB 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 persona! estate OF any public C
library and that OF any other library
association used by or connected with
/ such library. all books and philosopi.i-
cal apparatus, and all paintings and
istatuary OF any company or associa-
ton, kept In a public hall: provided,
the property SO exempted be not leased
profit or income, There shall also be
exempt from taxation household prop
erty to the value of Ave hundred dol
lars. There shall be exempt from tax
the date Of its completion, any railroad
or part OF railroad shat shall he con-
structed and completed subsequently to
January !. 1905, and prior to January i,
1919. This exemption shall include and
apply to all rights OF way. roadbeds.
sldinss, rails, and other superstruc-
lures upon such rights OF way. road
beds or sidings; and to all depots. sta
e'SH-houSCS, vi c'tlitHS AHu
structures appurtenant to such rail
soads and the operation OF the same !;
but shall not include the depots, ware
houses stationhouses and other struc-
sura ana appurtenances nor the land
upon which they are erected at ter
minal points. and for which franchises
nave been granted and obtained:
whether Same remain the property Of
the Present owner or owners, or be
transferred or assigned to any cor
porat!on or corporations, person Or per-
sons wh0Insosver. and. provided fur
tns,. shs1. that this exemption shall not
switches, depots or other improvements
Or bsttermsnts. which may De con-
structed by railroads now in-oparation
within the State. other than extensions
roads. There shall be exempt from
taxation the legal reserve OF life inaur-
ance companies organized under the
laws law, I,,. OF this Sta, State; The property or
organization of the State of Louisiana
which is used by the State National
Guard or militia fogamilitary purposes
used. shall be exempt from taxation.
There shall also be exempt from tax
alton, loans made upon the security of
mossgages IS granted upon real estate
mortgages granted to. secure said loans.
and the notes, bonds or other written
instruments evidencing the said loans.
whether in the hands Of the mortgagse,
or his or their transferess; and ali
loans made by life insurance companies
to their policyholders. upon the sole
security of policies held by the bor
rover In the company making the
written instruments. eyidenctng such
loans; provided. that in the case Of
loans upon policies OF life Insurance.
as aforesaid. the rate OF interest
ceed Ave per cent fssa) DER anntim dIS-
count
The capital. surplus and personal
after November 2ard, 1919, in this State
for tho sole purpose of lending
money on mortgages on country
property situated in Louisiana at
rate Of interest not, to exceed six per
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 t2o> 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 mora than six per cent Interest.
count or otherwise. il shall forfeit the
entire exemption herein granted, ana
be subject to taxation from the time X
makes such loan; and any such cor
poration handling or negotiating any
securities other than those hereina bove
mentioned shall incur Ike forfeiture
No such corporation sh..n have power
to receive any money on deposit or to
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 organized as
hereinafter set forth. together with
cir capital stock and all their prop
erty, corporeal and incorroreal shall
be exempt from III lakes and licenses
State, parish, .levee and n:ur icipal both
general and special. exclusive Of wharf
age, shed or levcs dues, Tor fifteen
years from the date ~ fling with, the
Secretary OF State proof that their
authorized capital Stock has been paid
in fun in cash.
No such steamship company shall
have the benefit of this Constitutional
provision except upon the following
conditions:
First--That such company shall have
been organized and the whole OF It's
authorized capital stock paid In cash
before January 1st. 1915.
Second-That such company sha.l bs
domiciled In the City OF New Orleans,
or in some other port OF this State.
Third--Thas such company shah have
q capital stock OF at least three mil
lion dollars. payable only in cash.
Fourth-That It shall be provided in
the charter OF the company that no
t~r, Gryb a 2fx,fA a