The Bienville Democrat. [volume] (Arcadia, Bienville Parish, La.) 1912-1980, 1920-10-07

indie to. as provided In the general
election laws of the State. whether or
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 OF
the Senate.
Approved: July 7, 1920.
JNO. M. PARKER,
Governor of the State Of Louisiana
A true copy:
JAMES J. BAILEY,
Secretary of State,
ACT NO. 15s,
House Bill No. 376--By Mr.. Claiborne.
Substitute for House Bill No. 1885,
JOINT RESOLUTION.
Proposing an amendment to Article 330
OF the Constitution Of the State or
Louisiana relative to exempting GER
tain industries located on the naviga-
ton Canal New Orleans.
Section l. Be 1t resolved by the Cen
eral 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, 1920, making
said Article read as follows:
Article 23O. 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 thereunt0 appurtenant, used
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,
real and personal estate of any public
library, and that Of any other library
association used by or connected with
such library, all books and philosophi-
cal apparatus, and all paintings and
ton, 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 q period Of ten years from
the date of it's completion, any railroad
or part Of railroad that shall be con-
structed ard completed subsequently to
January /, 1905. and prior to January l.,
1909. This exemption shall include and
apply to all rights Of way. roadbeds,
sidings, rails, and other superstruc-
lures upon such rights of way, road
beds or sidings; and to all depots, sta
tion-houses, buildings, erectons 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 at ter
minal points, and for which franchises
have been granted and obtained;
whether same remain the property OF
the present owner or owners, or be
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, sidings,
switches, depots or other improvements
or betterments, which may be con-
structed by railroads now 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 or
real estate belonging to any military
organization of the State of Louisiana
which Is used by the State National
Guard or militia for military purposes,
such as arsenals or armories, while so
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 he
mortgages granted to secure said loans.
and the notes, bonds or other written
instruments evidencing the said loans,
whether in the hands of the mortgage,
or h'B or their transferees; and all
loans made by life insurance companies
to their policyholders, upon the sole
security Of policies held by the Dor
rover In the company making the
loans, 40 well as all notes or other
written instruments evidencing such
loans: provided, that in the case OF
loans upon policies Of life insurance
as aforesaid, the rate of interest
| charged upon such loans does not ex-
coed FIVE per cent (6%) per annum dis
count.
The capital, surplus and personal
after November 23rd, 1912, in this State
| money on mortgages on country
property situated in Louisiana at a
| rate Of interest, not to exceed six per
cent (6%) net to the borrower, with
power to negotiate and handle bonds
and securities issued by the various
parishes and local districts and mu-
inequalities of the State Of Louisiana
shall be exempt from taxation for
twenty (20) years from the date OF
| the organization of said companies
provided, that said companies shall
| have full-paid cash capital stock OF
not less than $250,OO0; and, provided
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 the
entire exemption herein granted, and
be subject to taxation from the time II
makes such loan; and any such cor.
poration handling or negotiating any
securities other than those hereinabove
mentioned shall incur like forfeiture
No such corporation shall have power
| to receive any money on deposit or to
do a banking business q any sort, but
all such corporations shall be under
| the control and supervision of the Elk.
aminer Of State Banks, whose duty /,
shall be TO report to the Attorney
General any violation of the condition
Of this exemption.
Steamship companies organized al
hereinafter set forth, together with
their capital stock and all their prop.
erty, corporeal and incornoreal, shall
| be exempt from all taxes and licenses
/ State, parish, Ieyee and mur icipal, botf
general and special, exclusive Of wharf.
age, shed or levee dues, Tor fif.eer
years from the date VI fling with tht
Secretary Of State proof that theil
authorized capital stock has been pait
In full In cash.
No such steamship company shall
have the benefit Of this Constitutions
provision except upon the following
conditions:
j First-That such company shall hav'
been organised and the whole of 1T
authorized capital stock paid In casl
before January LIST, 1915.
S0COnd-,<That such COMPANY shall b,