The Era-leader. [volume] (Franklinton, La.) 1910-current, 1920-08-26

r. F. WALkER
Speaker Of the House OF Representa-
HEWITT BoUANCHAUD.
Lieutenant Governor and president VI
the Senate.
Approved July 7. 1920:
| JNO. NJ PARKER,
| Governor of the State Of LOUISIANA. |
| A true copy:
JAMES ]. BAILEY,
| Secretary of State.
ACT NO. 152.
House Bill No. 376--i'y Mr.. Clalhorne'
| Substitute for House BIZ NO. w.
| JOINT RESOLUTION.
Proposing an amendment to Article 2"e
Of the Constitution of the State OF
! Louisiana relative to eXemptlnE GER
tain industries located on the naFiea-
ton Canal, New Orleans
Section 1. 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 tol-
lowing amendments to the Constltu-
ton Of the State Of Louisiana be SUP
mitted to the electors OF the State at
the next Congressional Electlon TO De De-
!. held on the first Tuesday after the first
Monday in November, l92o' making
said Article read as follows:
! Article 23O. The following shall be
exempt from taxation, and no other,
r viz: All public property. places OF re-
= ligious worship. or burial, the rectorleS
and parsonages of churches ana
grounds thereunto appurtenant. used
r exclusively as residences for the min.
= listers in charge of such churches. all
e charitable institutions, all buildings
e and property used exclusively Tor pup
5 lie monuments or historical COLLECTIONS
8 colleges and other school purposes, the
d 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 ana
statuary Of any company or assocla-
e the property so exempted be not leased
d for purposes of private or corporate
i profit or income. There shall also be
: exempt from taxation household prop
j. erty to the value Of five hundred DOL
n lars. There shall be exempt from tax.
j. alton for a period Of ten years from
e the date Of it's completion, any railroad
l. or part Of railroad that shall be con-
j. structed and completed subsequently t.
j. January /. 1905. and prior to January l
m 1909. This exemption shall include ant
J. apply to all rights Of way, roadbeds
,r lures upon such rights Of way, road
Is beds or sidings; and to all depots, sta
Is ton houses, buildings, erections ant
structures appurtenant to such ran
roads and the operation OF the same
a. but shall not include the .depots. ware
houses, stationhouses and other struc
lures and appurtenances nor the Ian
Of upon which they are erected at ter
minal points, and for which franchise
have been granted and obtained
whether same remain the property Q
10. the present owner or owners, or b
transferred or assigned to any col
poration or corporations. person or per
sorts vhomsoever, and, provided fnf
ABBY anrll TO to double tracks, siding
switches, depots or other Improvement
or betterments, which may be con
~ structed by railroads now IN operate
OF or new lines constructed by such raj
ed roads. There shall be exempt fscl
te taxation the legal reserve of life insul
=. ance companies organized Under tn
ne laws Of this State. The property q
.ss real estate belonging to any militsr
at which is used by the State Nation'
ne Guard or militia for military purpose
IRE such as arsehals or afmories. while |
30 used, shall be exempt from taxatin
-. rhere shall also be exempt from ta'
s,i alton, loans made upon the security
ier situated In this State, as well as 4
OF mortgages granted to secure said loar
=. and the notes, bonds or other write
oly instruments evidencing. the said loar
~ ~, whether In the hands Of the mortgage
me loans made BY life insurance compani
us. to their policyholders,, upon the so
the security Of policies held by the DO
Re. rover In the company making u
tss loans as well as all notes or 9th
a. written instru,hen ats eyidsnsing ~
leans u pFSya 5e. sa s tnf s Snss
~. ! aforesaid The rate Of inters
ear. charged upon such loans does not e
MS coed Ave per cent (5T) per annuni di
tn count.
Or The capital surplus and person
a ,s estate OF every corporation o orr
ded for the sole purpose Of lendi
ave money On mortgages on count
hve nroperty situated in Louisiana at
en- rate of interest not to exceed six
ere cent (sSo) net to the borrower. WI
.e IN power to negotiate and handle bon
,y Ind securities ISSUED by The vafi !,
aea Inequalities Of the State Of Louisa
'a ar shall be exempt from taxation
EN- en- twenty {3g) years from the date
, ,seo the organization Of said compan,i
, ces provided, that said companies eo 81
,ar have fullped eas nao capital stock
AZ ~ further, that In case any such corp
ae- alton shall on any loan charge the b
va. rover more than six per cent inter.
,. OF couht or etherwIse, Il shall forfeit
y'Mcn entire exemption herein granted, I
'ioh be subject 70 taxation from the tint
a re-. makes such lean; ana any such c
i've boratisn handling Or negotiating
Ior; securities other than those hereinab
s N9 mentioned shall Incur like, foffeitl
anu No such corporation shall have POI
ele u to receive any mpnef on deposit br
nan. do u banking business Of any sort,
as all such corporations shall be I'm
s snls the control and supervision Of the
, ,ia ainlher. Of State Banks. whose duti
, ..e,l shall be to report to the Attor
, wv General any violation Of the conht
,.oas Of this exemption.
!. ffsu Steamship companies organized
ue hereinafter set forth, together v
. dar their capital stock and all their pr
~ erty, corporeal and incorrofeaL 8
.hei, be exempt from I'LL taxes and licen
49,. w State, parish, leyee ami uricipal,
w ~. general and special, exclusive Of VIII
avs age, shed or levee dues. Tor ff'
LIS. LII years from the date 0f iiling with
sh" Secretary Of State proof that t
n,,or authorized capital stock has been
NV. In full In cash..
, az No such Steamship company q
,, ,ura have the beneft Of this Constitute
al provision except upsn~ the fellow
on conditions:
a., aGi First-That such company shalt !
1n fnr been organised and the whole Of