The Bienville Democrat., 1920-09-23

Speaker OF the HOUSE u N y
tives. ,,ur po11ANcHAIJD, U
,,.o,ort Governor and President Oh 8
Anproved: tns ne" July 7, 1920: c
JNO. M. PARKEk, ,-, I
coyernor of the State OF LOUISIANA {
A true copy:
JAMES ]. BAILEY,
Secretary OF State.
ACT NO 153.
House Bill No. S7d-By MI, Mr.. Na GlaiGS'h'' 1So
Substitute for House BIZ NO i''' ~
p.,rr On amendment to Article zou
Of the Constitution Of the slate oU o.
Iouisiana relative to eXeltlpt!hs !ol
tain Industries located ON the ""''@"
tion Canal, New Orleans 49,, car-
saction Be it resolved ny t'g uI .n
srral Assembly of the state OF LOUIS
lana two-thirds of all members eietteu
70 e.ch House concurring, That the iol-
| lowing amendments to the 'on'.r,n ,,t
tion Of the State of LOUISIANA ue ""o
mitted to the electors OF the n'".a h
the next Congressional Eiectlon 70 sns+ a
held on the first Tuesday ate after the ,.ima n,nr
Monday in November wv '''''A'''
|
'' Article 2sO. The following shaii De
axamnt from taxation and no othef'
VIZ An public property, places Oh re-
Iigious worship, or burial, the re'toIles
aoa narsonages of churches anu |
@rounds thereunto appurtenaot useu
ssxclusiveIy as residences for the MN,
istars in charge Of such chureheS, ail
charitable institutions, all buiiulnsS'
and nroperty used exclusively Tor pun
Iin monuments or historical coilectiohs
colleges and other school purposes, w .ne
real and personal estate or any pun,,v
. library, and that Of any other noiatS
associatio used by or conhect5eu 5'.,,hi N.Y.
such library, all books and phiiosophlI
cal anparatus, and all paintings ana
!, statuary of any company or assoGla-
3 tion kept in a public hall; proVloeu,
l the property so exempted be not leaseu
: for purposes of private or corporate
: nroAt or income. There shall also De
: exempt from taxation household prop
n srty TO the value Of five hundred aol-
. lars There shall be exempt from TAX
e ation for a period Of ten years rom
: the date of its completion. any raliroau
: or mart of railroad that shail ee coli- a-
j. structed ard completed suhsequentlsktto
n January /, 1905. and prior to January l,
! 1903. This exemption SHAH lhcluuv anu la
d apply to all rights or way roIunuu, t,,InI
n sidines. rails, and other supefslFuc-
Ls tmres mon such rights of way, road
IS beds or sidings; and to all hepQts sta,
tion-houses buildings, erechohs ano
structures appurtenant to such ran
l. roads and the operation OF the same
hut shall not include the depots' ware
houses. stationhouses and other struc
of lures and appurtenances nor tle ial' M
upon which they are erected at Yer
minal points, and for which 1rancnise'
have been granted and optalheu
a. whether same remain the property y
the present owner or owners VI "
transferred or assigned to any cor
poration or corporations, person or pei
sons whomsoever, ana, pro'i9eu, lua ~
fher. that this exemption shaii no
annly TO double tracks sidFgs
switches depots or other Improvement
mr. hetterments. which may be con
'oS structed by railroads now in operate
OIL within the State, other than extensisn
ea or new lines constructed by such RAJ
lte roads There shall be exempt fro
:, tayation the legal reserve of hfe insul
me ance companies organized under tf
IS laws of this State. The property
ers real estate belonging to any mllltai
lae organization of the State OF Loulsiai
lne which is used by the state Nation
ore Guard or militia for military purpose
81 such as arsenals or armorles' Wnrle !
used, shall be exempt from ta1atlo
ecu There shall also be exempt from Ia
lal lno.e M ,nona made unon the security
lier ontnaSaa granted upon real esta
OF situated in this State, as well as !
mortgages granted to secure SAID loai
piy and the notes, bonds or other Will
ntii inatruments evdencing the said loal
htii whether in the hands of the mortgage
'me mr. his or their transferees; ana
lus lopns made by life insurance compan1
the tn their policyholders, upon the 81
re- security of policies held by the Dt
ites rover in the company making !!
loans. as we'll as all notes or OH
VI written instruments, evldenclng st
val loans: provided, that In the case
loans upon policies of life insuran
nss- M as aforesaid, the rate OF inter
an charged upon such ioahs uoes nv.
e,n or- ceed Ave per cent lS%) per ahiuln .
,ina count. - nrso
case estate of every corporation organi
laeu after November 23rd, 1912, in TINS 5,
'ave ave for the sole purpose OF lend
hve ,nonev on mortgages on coun
PEN nrnnertv situated in Louisiana al
hele rate of interest not to exceed SIX
an cant (e%) net to the borrower, "
rom nnwer to negotiate and handle DO
con, s6S securities issued by the varl
'ideu marshes and local districts and
ears ears inequalities of the State OF Louisi
pen, ahail be exempt from taxation
.@naea @ twenty (2O) years from the date
.,nn. i,a the organization of SAID cohlpai'
n,ar men provided, that said companies . .
~ to have a full-paid cash capltai SLOT
!, = aa. not less than $2bO,ooo; ana, prov
n;aa. further, that In case any such soi
,ms or II alton shall on any loan chaIge sIls =,
~ y. rover more than six per cent lhte'
tie OF ,uhather by way of commission,
sucn connt or otherwise, 1t shall forfeit
llsioh antire exemption herein granted,
e Ie- no subject to taxation from the tin
nso makes such loan; and any such
,s ,elo. noration handling or negotiating
hsteu secnrities other than those hereina
!. S saSS mentioned shall incur like forlel
'tea1u M No such corporation shall have ps
shali, m receive any money on deposit
On uaS do banking business " any sort
ILLS sn.S ali such corporations shall pc U
pidU' pia. the control and supervision OF tne
as,Jn, I'.h aminer Of State Banks, whose du
: ,snrs Mm" shall be to report to the AUG o
a,.o, General any violation OF the como
nj he of this exemption.
y. ~ Steamship companies organlze'
Terms bereinafter set forth, together
ieaea s.hr their capital stock and all their
- i, she,, ~ erty. corporeal and incorporeai,
'''s s.o,n ~ be exempt from I'LL taxes and nee
it1ia .i,,a State. parish, levee and nur icipal,
!. ,ians an,s general and special, exclusive. OF "
asion snanI ace. shed or levee dues, ior =
shait Years from the date Of filing wit
'aa aa,or ~ Secretary Of State PROOF that
!, uv.,s. ,as authorized capital stock has been
.avidad i In full in cash.
ovaasa M No such steamship company
aolI have the benefit 'of this Consttu
~, ,ay an ca provision except upon the foii'
~ i eball conditions.
q "a snai a. First-That such company, shall
~ a no' been organized and the Wnole
~ nppffo for authorized capital stock paid IN
,iy s.oi ,o b6fore January lst 1915.
Iehe,aa d Second-That such company sh
ne, ahu domiciled In the City Of New OI
VI EN- ~ or in some other port OF this Sts
om . III Third-That such company snai
,un., ,a.,,oa ~ a capital stock Of at least thre
. isy,ru aranl lion dollars, payable only In cas-
~ Soi !. Fourth--That 1t shall be prcyi
M = 40 the charter OF the company. tn
q ~ ny " cMorporation, cor or Arm, or individual
an Ina. nwn or control, either directly
e nal auop directly, more than one-twenti
'adii ND ,ha S the capital stock OF the compan
.mI y, adi .Me that ail pooling agreements ana
mmeul- trmsts between the stockhold'
nu pTO- A-o, tho onrnoration shall be