New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1920-10-02

indicate, as provided In the genera
election laws of the State. whether OF
not he votes for or against the amend
mont
Speaker Of the House of Representa-
HEWITT BoUANCHAUD,
Lieutenant Governor and President OIL
Approved: July 7, 1920.
JNO. NJ. PARKER,
Governor of the State Of Louisiana
JAMES ]. BAILEY,
Secretary of State. -
ACT NO. 15S
House Bin No. s7e-By MT Claiborne.
Substitute for House Bill No. 1Ss.
JOINT RESOLUTION.
Proposing an amendment to Arsicte zSS
OF the Constitution of the state or
Louisiana relative to exempt1ng GER
tain industries located on the naViga-
ton Canal, New Orleans.
Section 1. Be il resolved by the Gen
eFal Assembly of the State OF LOUIS
lana, two-thirds of all members elected
to each House concurring, That the fol-
lowing amendments to the Constttu-
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 hrst
Monday in November, 1920, making
said Article read as follows:
exempt from taxation, and no other
viz: All public property places OF re-
llgious worship, or burial, the rectorles
and parsonages 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
association used by or connected with
such library, all books and philosophi-
cal apparatus, and all paintings and
Statuary or any company or a5socia-
ton. kept In public hall; provided,
the property 10 exempted be not leased
Tor 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 period of ten years from
the date of it's completion, any railroad
or part of railroad that shall be con-
etructed and completed subsequently to
January l, 1905, and prior to January l,
1903. This exemption shall include and
apply to all rights of way, roadbeds,
sidings, rails, and other superstruc-
peds or sidings; and to all depots. sta
tion-houses, buildings, erections 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 aud appurtenances nor the land
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,
W >,
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-
ence companies organized under the
laws OF this State; The property or
organization of the State of Louisiana
which 10 used by the State National /
Guard or militia for military purposes
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 wrtton |
instruments evidencing the said loans, /
whether in the hands of the mortgages, /
or his or their transferees; and all
loans made by life insurance companies
to their policyholders, upon the sole
security OF policies held by the bor-
loans, as 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 docs not ex-
coed five per cent (5T) per annum dis
count. !
The capital, surplus and personal
aftef November ssrd, 1917, in this State
1Ss on 'ls aol RRssss' 4 9 cGG$ltRg
Fsf stqss l. LSg tsso Az at ma
cent {sq6) net to the borrower, With,
power to Negotiate and handle bonds
and securities issued by the various
parishes and local districts and mu-
shall be exempt from from taxation HS'1 for
twenty GOD 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 1000; 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
yopnt or otherwise 1t shall forfeit the =
entire exemption herein granted, and
De subject TO taxation from the time il
makes such loan; and any such cor
ooratton handling or negotiating any
securities other than those hereinabove
mentioned shall incur like forfeiture
sNo such corporation shall have power
% receive any money on deposit or to
10 banking business of any sort but
III such corporations shall be under
he control and supervision Of the Ex-
lminer of State Banks, whose duty IL
hall be to report to the Attorney ,
General any violation of the condition
II this exemption.
Steamship companies organized as
lereinaftsr set forth. together with
heir capital stock and ali their prop
rty, corporal and incornoreal, shall
'e exempt from ull faxes and licenses
tate, parish, Ieyee and n1ur icipal, both
-eneral and special, exclusive of wharf
.ge, shed or levee dues. for fifteen 4
ears from the date of fling with the
ecretaEy of State proof that their
.uthorized capital stock has been paid
d full in cash.
No such steamship company shall
ave the beneft of this Constitutional i
revision except upon the following
onditions:
First-That such company shall have
cen organized and the whole of its
uthorized capital stock paid in cash
efore January 1st, 1916.
SecoHd-That such company shall be
omiciled In the City OF New Orleans.
T In some other mort of thfa gfofa