The Era-leader. [volume] (Franklinton, La.) 1910-current, 1920-10-14

lieutenant Governor and President OF
the Senate.
Approved: July 7. 1920:
JNO. VI. PARKER,
Governor of the State OF Louisiana.
JAMES J. BAILEY,
Secretary Of state.
ACT no. 1873.
House Bill No. 376-Ey Mr.. Claiborne.
Substitute for Iousc !tl No. wv
jOi%'r RESpi.IT!ON.
ProposinE an amendment to Arucle Is.
of the Constitution OF the state OF
Louisiana relative to rX"mptinE GER
tain industries located on the naVlsa-
ton Canal. New Orleans.
Section !. Be it resolved by the Ten
cral Assembly of the state Of Louis.
to each House concurring. That the ioi-
lowing amendments to the tonstltu-
zion Of the State Of Louisiana be sub
mittcd to the electors Of the state nj
! the next Congressional Election TO De
| held on the first Tuesday after the hrst
| said Article read az 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 parsonases 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, al books and philosophy,
cal apparstus and all paintings and
statuary Of any company or associa-
ton, kept In q public hall; provided:
the property 30 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 a 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 i;
1902. This exemption shall include and
apply to all rights OF way. roadbeds'
sidings rails, and other superstruc-
lures upon such rights OF way, road
beds or sidinss; and to all depots, sta.
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 and appurtenances nor the lana
0n r n, hsy are iTefteG r. NJ
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 Vhomsoever, and, provided fur.
apply to double tracks, sidings
switches, depots or other improvements
or betterments, which may be con-
z structed by railroads now in operation
: within the State. other than extension
/ or new lines constructed by such rail-
taxation the legal reserve OF life insur'
q ancs companies organized under tn,
8 real estate belonging TO any militar,
: organization Of the State Of Louisiana
e which 10 used by the State Nationa
e Guard or militia for military purposes
D such as arsenals or armories. while *
4 There shall also be exempt from tax
! alton, loans made upon the security o
= mortgages granted upon real estat
Z situated In this State, AZ we'll a. ~
mortgages granted to secure said loans
y and the notes, bonds or other wr!tte'
i whether In the hands Of the mortgages
a or his or their transferees; and al
y loans made by life insurance companie
a to their policyholdere, upon the sol
=. security Of Policies hold BY the Dor
q rover In the company making tn
loans, a., we'll a. all no. . Of o ti,e,
/. loansi provided, that In the case o
loans upon policies ct life insurance
). az aforesaid, the rate Of interes
!. charged upon such loans does not ex
j.. coed five per cent (5T) per snnum dis
;. count.
. The. capital. surplus and persona
d after November 23rd, 1912, In this Stat
e for the sole purpose Of lendin
a money on mortgages on countr
!. property situated in Louisiana at
e rate Of Interest not to exceed six pc
n cent t6E) net to the borrower. Wit
t. and securities issued by the variou
ID parishes and local districts and mu
IS inequalities Of the State Of Louisian
l. shall be exempt from taxation 70
d twenty (20) years from the date 9
= the organization Of said companie.
= have a &ull.paid cash capital stock q
10 not less than $25O,0o0i and, provide
= further, that in case any such corpor
l. alton shall on any loan charge the boz
IL rover more than six per cent interes
u whether by way Of commission. di.
ii COunt OF OtnefWlSS, II snail lOffeit tn
- entire exemption herein granted, an
e. be subject to taxation from the time
70 makes such loan; and any such col
r; poratlon handling Or negotiating an
ID securities. other than those hereinabov
i'd mentioned shall incur \ like forfeitvr
ID No such corporation shall have pow<
II, to receive any money on deposit or I
is do banking business Of any Sort b,
is all such corporations shall be undt
Or the control and supervision of the L,
n; aminer Of State Banks, whose duty
10 shall be to report to the Attorne
rs General any violation Of the conGktio
I'd Of this exemption.
be Steamship companies organized 6
rs hereinafter set forth, together wit
r. their capital stock and eli their pro,
,r, erty, corporeal and tncorporeal, sha
OF be exempt from I'LL taxes and license
m State, parish, Ievee and mur icipa!, bo,
ia general and special, exclusive Of whar
ne age, shed or levss dues. Tor hfte,
lii years from the date NJ ding with Il
Of Secretary. Of state proof that the
ar authorized capital stock has tsen pa
!. In full IN cash.
ed No such steamship rempsn. sha
re have. the benefit Of this Constituted