The Bienville Democrat. [volume] (Arcadia, Bienville Parish, La.) 1912-1980, 1920-09-30

election laws of the State, whether OF
not be votes for or against the amend
ment.
R. F. WALKER,
Speaker Of the House Of Representa-
tives
HEWITT BOUANCHAUD,
Lieutenant Governor and President o.
the Senate.
Approved: July 7, 1920.
| JNO. M. PARKER,
Governor Of the State Of Louisiana
A true copy:
| JAMES ]. BAILEY,
| Secretary of State.
ACT NO. 1853.
House Bill No. 37s-By Mr.. Claiborne
Substitute for House Bill No. 1879.
JOINT RESOLUTION.
Proposing an amendment to Article $50
of the Constitution Of the State OF
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 C0nstitu-
tion 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 230. 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 thereunto 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,
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 Of any company or assOcia
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 and completed subsequently to
January |, 1905. and prior to January /,
1919. This exemption shall include and
apply to all rights Of way. roadbeds.
sidings. rails, and other superstruc-
lures upon such rights Of way, road
n n.,1 10 oil nIo o.
tion-houses, buildings, erections and
structures appurtenant to such rail-
roads and the operation of the same;
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
poratlOn 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 10 used by the State National
Guard or militia for military purposes,
such as arsenals or armories while 80
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 his or their transferees; and all
loans made by life insurance companies
TO their poIicyholders, upon the sole
security Of policies held by the Dor
rover In the company making the
loans, az we'll as all notes or other
written instruments, evidsncing 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 ave per cent t5%) per annum dis
count
The capital, surplus and personal
estate Of every corporation organized
after November 23rd, 1912. In this State
for the sole purpose Of lending
money on mortgages on country
property situated in Louisiana at
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 $260,o0O; and, provided
further. that In case any such corpor-
alton shall on any loan charge the bor-
rover more than six per cent interest,
whether by way of commission dis
count or otherwise, 1t shall forfeit the
entire exemption herein granted, and
be subject to taxation from the time it
makes such loan; and any such cor
poratien handling or negotiating any
securities other than those hereinabove
J.
No such corporation shall have power
to receive any money on deposit or to
do banking business Of any sort but
all such corporations shall be under
the control and supervision Of the Ex-
amlner OF State Banks, whose duty 1t
shall be TO report to the Attorney
General any violation of the condition
Of this exemption.
Steamship companies organized as
hereinafter set forth, together with
their capital stock and all their prop
erty, corporal and tncorporeal, shall
be exempt from All taxes and licenses,
State. parish. levee and muir iclpal, both
general and special, exclusive Of wharf
age, shed or, levee dues, for fifteen
years from the date Of fling with the
Secretary Of State proof that their
authorised capital stock has been paid
In full In cash.
No such steamship company shall
have the beneflt of this Constitutional
provision except upon the following
conditions:
First--That such company shall have
been organised and the whole Of it's
authorized capital stock paid In cash
before January LIST. 1915.
Second-That such company shall be
domiciled in the City Of New Orleans,
or In some other port Of this State.
Third-That such company shall have
q capital stock Of at least three mil
lion dollars, payable only In cash.
Fourth-That It shall Do provided In
the charter OF the company that no
corporation, or afm, or individual shall
own or control, either directly or In
directly, more than one-twentieth of
the capital stock Of the company: and