The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1920-08-28

a son Lsws OF the state. whether or
not BE votes for or against the amend
4 II. F. WALKER.
Sneaker Of the House of Representa-
HEWITT BouANCHAUD.
1 Lieutenant Governor and President of
4 tho Senate.
] Approved: July 7, 1920
JNO. NJ. PARKER,
Governor of the State OF Louisiana.
4 JAMES J. BAILEY,
Secretary of State.
ACT NO. 15a.
House Bill No 376-By Mr.. Claiborne.
| Substitute for House Bill No 199
] JOINT RESOLUTION.
4 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 it resolved by the Gem
| erat Assembly of the State of Louis
/ lana. two-thirds of all members elected
| to each House concurring, That the fol-
lowing amendments to the Constitu-
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 first
| Monday in November. 1920. making
| said Article read as follows:
1 Article $50. The following shall be
/ exempt from taxation, and no other,
| viz: All public property. places of re-
iiglous worship, or burial, the rectories
grounds thereunto appurtenant, used
| exclusively as residences for the min
lsters in charge of such churches. all
! charitable institutions, ali 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
/ aSSOFIdtl0n M IN fad ~
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
Tor purposes of private or corporate
profit or income. There shall also be
exempt from taxation household prop
erty 10 the value of five hundred dol
lars. There shall be exempt from tax
alton for period of ten years from
the date of its completion, any railroad
or part of railroad that shall be con-
structed and completed subsequently, to
January /, 1905, and prior to January 1,
1908. This exemption shall include and
apply to all rights of way, roadbeds,
sluingS, rains, and other superstruc-
lures upon such rights of way, road
beds or sidings, and to all depots sta
tionrhouses, buildings, erections and
structures appurtenant to such rail-
roads and the operation of the same:
put shall, not include the depots ware
houses, stationhouses and other struc-
lures and appurtenanees nor the land
upon which they are erected at ter
Ininal points. and for which franchises
have been granted and obtained.
whether same remain the property Of
GA present owner or owners, or be
transferred or assigned to any cor
sporafion or corporations, person or per-
sons whomsoeyer, and. provided fur
ther. that this exemption shall not
Apply to double tracks, sidings.
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
organization of the State of Louisiana
which is used by the State National
Guard or militia for military purposes,
such as arsenais or armories. while so
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 4ha
and the notes. bonds or other written
instruments eyjdencing the said loans
whether in the hands of the MORTGAGE,
or his or their transferees; and ali |
loans made by life insurance comuani ea |
to their policyholders. upon the sole
security OF policies held by the bor-
rover IN the company making the !
loans. as well as all notes or other |
Written instruments, evidencing such |
loasns, provided that in the case of |
l0ans upon policies of life Insurance. |
charged upon such loans does not ex- |
coed five per cent t5a6) per annum dis
Tie capital surplus and personal
after November 23rd. 1912, In this state |
TOT the sole purpose of lending
money on mortgages on country
property sitaated in Louisiana at a
cent t6ea) net to the borrower with
power 10 negotiate and handle bonds |
and securities issued by the various
parishes and local districts and mu-
shaii,%be exempt from taxation for I
twenty (2G) years from the date of |.
tn organization of said companies;
provided: that said companies shall
not less than $250.00O: and, provided
furthers that in case any such corpor-
alton shall on any loan charge the bor-
ROVER more than six per cent interest,
by way of commission. dis
count or otherwise. it shall forfeit thel
entire exemption herein granted. and
be subject TO taxation from the time II +
makes such loan; and any such cor
poration handling or negotiating any
securities other than those hereinabove
nentioned shall incur like forfeiture.
we SuClt tOTpCTdlion Shall nave power
70 receive any money on deposit or to
10 banking business of any sort, but
All such corporations shall be under
the. control and supervision of the Ex-
aminer of State Banks, whose duty it
shall be to report to the Attorney
General any violation of the condition
n this exemption
Steamship companies organized as
hereinafter set forth. together with
their capital stock and all their prop
srty, corporeai and incorporeal. shall
BE exempt from all faxes and licenses,
State parish ievee and municipal, both
general and special, exclusive Of wharf
lge. shed or levee dues Tor fifteen
Eears from the date Of fling with the /.
Secretary of State proof that their
authorised capital stock has been paid
n fun Ii cash
No such steamship company shall
rave the benefit of this CONSTITUTIONAL
PROVISION except upon the following
,ondftioHs.
e e irstf-I That such company shall have
yeeH orEauized and the whole of its
cspital stock paid In cash
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