The Donaldsonville chief., 1920-10-23

| indicate as provided IN the b0HeRA IA
slsctton laws Of the state. whether or
| not he votes for or against the amend
| mont,
r. F. WALKER,
Speaker Of the House OF Representa-
~ HEWITT BoUANCHAUD. -.
Lieutenant Governor and president Oh
the Senate.
Approved: July T. 1920.
JNO. NJ. PARKER,
| Governor OF the State Of louisiana
A true copy:
| JAMES J. BAILEY,
| Secretary of State.
ACT NO. 153.
House Bill No. 37s-By Mr. Claiborne.
Substitute for House Bill No. lss.
! JOINT RESOLUTlON.
| Proposing aa amendment to Article z5e
OF the Constitution. OF the State Of
Louisia1a relative to exempting Ger
tain Industries located on the navig@-
ton Canal. New Orleans.
Section l.. Be it resolved by me Gen zen
sral Assembly Of the State OF LOUIS,
lana, two thirds of all members elected
! to each House concurring, That the toi-
ton OF the State of Louisiana be SUB.
mitted to the electors sof the state at
the next Congressional Election to be
held on the first Tuesday d5e af5er tne frst
said Article read as follows:
! Article 2S0 The following shall be
exempt from taxation, and no other'
viz: All public property, places OF re- re-
and parsonases Of churches and
grounds thereunto appurtenant used
exclusively as residences for the min,
isters In charge of such churches; all
| charitable institutions, all bulldlhgs
and property used exclusively Tor pup
lilo monuments or historical collections
| colleges and other school purposes the
real and personal estate Of any pubic
library, and that of any other library
association used by or CONNECTED WIN
such library all books. and philosophi,,
| cal apparatus, and ali paintings ana
statuary of any company or assocla-
tion. 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 lax
alton for a 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 10
1909. This exemption shall include and
apply to all rights OF way. roadbeds,
s!dings, rails, and other superstruc-
lures upon such rights Of way, road
beds or sidings: and to all depots, sta
! tton=houses, buildings, erections and
structures appurtsnant to such rail-
soads and the operation OF the same;
but shall not include the depots, ware
@puses, stationhouses and other struS
Nrs~ 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
sons whomsoever. and. provided fur
ther. that thts exemption shall not
apply to double tracks, sidtngs,
owtehes dep9ts or beh Geher hs
structed by railroads now in operation
within ths 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
astaie 81 e. State sfy Of
| which Is used by the State National
Guard or militia for military purposes,
| such arsenals or armories. while so
There shall also be exempt from tax
| alton, loans made upon the security of
mortgagss Frantsd ;a Sd on reai ca estate ! :
mortgages granted TO secure said loans.
and the notes, bonds or other wr!tton
instruments eyidenoing the said loans,
or his or their. transferess; and all
loans made by life insurance companies
to heir polieyholders, upon the sole
security Of policies held by ths bor-
loans, as well as all notes or other
written instruments, evidencing such
loans: provided, that in the case OF
ppsn e "a rate III. Of
charged upon such loans does not ex-
coed fivs per cent (5B) per annum dis
count.
The capital, surplus and personal
estate OF every corpora tion organized
after November 23rd 1912, in this State
for the sole purpose Of lending
property situated in n Louisiana at q
rate Of interest not to exceed six per
cent (6b) net TO the borrower, with
power to negotiate and handle bonds
parishes. and local districts and mu.
shall be exempt from taxation 70,
ISs 2 ysars rom eno tho date
provided. that said companies shall
have a full-paid cash capital stock OF
not less than s25o,ooo; and, provided
alton shall on any loan charge the bor-
ROVER more than six per cent interest
whether by way OF commission; n dis.
entire exemption herein granted, ans
be subject to taxation from the time ii
makes such loan; and any such cor
poration handling or negotiating any
securities other than those heretnabovs
mentioned shall incur a Ike forfeiture
No such corporation shall have power
to receive any money on deposit or te
do banking business of any Sort but
al suoh corporations shall be under
the control and supervision Of the Ex-
aminer of State Banks, whose duty il
shall be to report to the Attorney
General any violation Of the condition
of this exemption.
!. Steamship companies organized al
their capital stock and all their prop.
erty. corporeal and incorporeal, shal
be exempt from ali taxes and licenses
State, parish. levee and mur icipal, both
J general and special. exclusive Of wharf
) age, shed or levea dues, FOR f1fteer
Secretary OF State proof that theil
authorized capital stock has been pait
in full in cash.
l No such steamship company shal
; have the benefit of this stitutiona
provision except upon the following
conditions:
/ First-That such company shall hav.
T been organised and the whole OF it
authorized capital stock paid in casl
before January LIST 1915
] Sscond-That suoh company shall b.
l domiciled in the City Of New Orleans
r Third-That such company shall hay
{ capital stock of at least three mil
lion dollars, payable only in cash
Fourth.-That It shall be provided Il
= the charter OF the company that n.
, corporation, or firm. or Individual shal
t own or control. either directly or in
directly, more than one-twentieth o
t tho capital stock Of tho company; an,
that all pooling agreements and votin,
trusts between the stockholders t
control tho corporation shall be abso
$ lutely null and void and no stock he'll
in any such pool or voting trust shal
! ever be voted at any corporate election
a or meeting.