The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1920-09-18

= election laws of the State. whether q
!. ment.
tives. -
! HEWITT BOUANcHAUD.
y Lieutenant Governor and President o
Approved: July 7, 1920.
+ JNO. NJ. PARKER
) Governor OF the State of Louisiana
JAMES j. BAILEY,
: Secretary of State.
ACT NO. 49,
House Bill No. 376--By Mr.. Claiborne
substitute for House Bill No 100.
JOINT RESOLUTION
proposing an amendment to Article 23t
OF the Constitution of the State OF
louisiana relative to exempting Ger.
TAIN industries located on the naviga
ton Canal, New Orleans
Section /. Be 1t resolved by the Gen.
eral Assembly of the State of Louis
iana. two-thirds of all members elected
10 eacn House concurring. That the fol-
ioWihg amendments to the Constttu-
tion OF the State of Louisiana be sub
mitted to the electors of the State at
the next Congressional Election to be
Monda1 the ie frst Tuesday after the first
1 SAID Article read as follows:
article $50. The following shall be
exempt from taxation. and no other.
VIZ, w: All public property. places of re-
ligious worship. or burial, the rectorie,
| anu Parsonages- of churches and
grounds thereunto appurtenant used
exclusively as residences for the min
isters In charge of such churches, all
charitable institutions. all buildings
ana property used exclusively for pub
nc monuments or historical collections.
r oiIeses and other school purposes, the
real ana personal estate of any pubic
library. and that of any other library
association used by or Connected with
sueh library. all books and philosophy
.ea apparatus. and all paintings and
sstatuary OF any company or associa-
t lion. kept in public hall: provided,
sho property 80 exempted be not leased
n LOT purposes of private or corporate
exempt from taxation household proD-
erty TO the value of five, hundred dol
.ars There shall be exempt from tax
az i"d LOT period or ten years from
or part OF railroad that shall be con-
structed and completed subsequently, To
iiaaanuar T !: 1908. and prior to January 1.
1soy. This exemption shall include and
apply to all rights of way. roadhads-
sidfngs, rails, and other superstruc.
lures upon such rights of way. road
PEG. or sidings; and to all depots. sta
structures appurtenant to such rail-
ROADS and the operation of the same.
put shall not include the depots. ware,
houses, statonhouses and other struc- |
lures and appurtenances nor the land |
upon which they are erected at ter
minai points, and for which franchises |
nave been granted and obtained:
t Wnelner same remain the property Of ]
the present owner or owners, or be |
Srahsierred or assigned to any COR
poration or corporations, person or per-
sons whomsoeyer. and. provided fur
apply to double tracks, sidinra.
switches. depots or other improvements:
or oetterments. which may be con-
y s,,i.1 oy 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-
. = Ice, companies organized under the
zeal estate belonging to any military
,rganizatton of the State of Louisiana
Is used by the State National
'uch as arsenals or armories while ~
lSed, shall be exempt from taxation
There shall also be exempt from tar
luon. loans made upon the security OF
mortgages granted upon real estate
ituated In this State, as well as Aha
mortgages granted to secure said loans.
mo the notes. bonds or other wr!ttcn1
rSS efb M nj evidensing the said loans
r MS or their transferees: and AFT
pans made by life insurance companiesl
their policyholders, upon the sole .
ovurey OF policies held by the bor-
pans, as well as all notes or other !
1ritten instruments. evidencinr such
,an provided that in the case OF :
9 aforesaid, the rate OF interesf =
narged upon such loans does not ex- :
Eco nve per cent (5%) per annum dis :
The capital. surplus and nersons, !
state of every corporation Organized
tier November 23rd, 1872 in this state a
y the sole purpose OF lending !,
.nnsy. on n,. mortgages on country h
tie OF interest not to exceed six per =
mt t6%) net to the borrower, with =
,Wer to negotiate and handle bonds n
,r,sS Seeur, nd Issued by the various v
cipalities of the State of Louisiana :,
All be exempt from taxation for n
. . sa11 years from the date Of b,
divided: that said companies shall .,
We full-paid cash capital stock ~ =,
t less than $250,000; and, provided 3,
'a mat In case any such cofpor- 81
lon shall on any loan charge the Dor n
wer more than six per cent interest. y,
1ether by way of commission. dis ! NJ
u ea or otherwise, it shall forfeit the ps
. s,'h, exemption herein granted. and 70
lkes such loan; and any such cor A,
ration handling or negotiating any a.
;urities other than those hereinabove tx
cHe@H AnCdf a ike forfeiture l
No such corporation shall have powsr az
receive any money on deposit or 10 in
banking business OF any sort, but fic
such corporations shall be under
!, control and supervision of the Fl. "a
liner of State Banks whose duty il
III pc to report to the Attornev
neral any violation of the Condition I'm
this exemption. or
'teamship companies organized an
,einafter set forth, together with
ar capital stock and all their prop
y, corporal and incorporeal. shall A
exempt from all taxes and ncenses
re, parish, icvee and municipal, both
ierai and special. exclusive Of wharf
}, shed or levee dues, for fffteenl
RS from the date Of fling with the p
retary of State proof that their
norfzed capital stock has been paid
% such steamship company shall
e the benefit of this Constitutional
dftions:
irSt-That such COMPANY shall bow.