St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-10-23

A true copy.
JAMES J. BAILEY,
Secretary of State.
ACT NO. 1873.
HOUSE Bill No. 376.
By Mr.. Claiborne
Substitute for House Bill No. 1919.
JOINT RESOLUTION.
Proposing an amendment to Article
230 of the Constitution of the
Stale of Louisiana relative to ex
empting certain industries locat-
ed en- tho Navigation Canal, New
Orleans.
Section i. Be 1t resolved by the
General Assembly of the State of
Louisiana, two-thirds of all members
elected to each House concurring,
That the following amendments TO
the Constitution Of the State of Lot
Isiana be submitted to the electors
of the State at the next COMPRESSION
IL 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: ALI public propertT,
places CT religious worship, or buri-
ii, the rectories and parsonages at
churches and grounds thereunto ap-
purtehent, used exclusively as RESI-
dences for the ministers in charge
of such churches, all charitable tn
stitutiops, all buildings and proper
ty used exclus. Vely for public MONT
ment3 or historical collections, col
leges and other school purposes, the
real AID personal estate of any pub
lie library, and that of any other
library asso :iation used by or con-
nected with such library, all books
and philosophical apparatus, and all
paintings and statuary Of any. con-
pany OF. assoc ation, kept in puD-
lie hall; provided5 the property 81
exemlted be not leased for purpos es
of private or corporate profit or i'll
come. There shall also be exempt
from taxation household property 10
the value of five hundred dollars.
There shall be exempt from taxation
for q period of ten years from tas
date IF its completion, any railro Ad
or part of railroad that shall be col
structed and completed subsequent
~ to January 1, 1905, and prior to
January /, 1909. This exemption
shall include and apply to all rights
of way, roadbeds, sidings, rails, ana
other superstructures upon such
rights Of way, roadbeds or sidtngs;
and to all depots, station-houses,
buildings, erections and structures
appurLenant to such railroads a1d
the operation Of the same; but shall
not include the depots, warehouses,
station-houses and other structures
and appurteIances nor the land up
on which they are erected at termi-
nal 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
corpol alton or corporations, person
or persons whomsoever, and, pro-
vided further, that this exemption
shall Dot apply to double tracks, sid
ings, witches, depots or other inn
provements or betterments, which
may he constructed by railroads now
in operation within the State, other
than extensions or new lines COZ
structed by such railroads. There
shall be exempt from taxation the
legal reserve of life insurance con
pan es organized under the laws Of
This State. The property or real es
late Belonging to any military Or
sanizItion Of the State of Louisiana
which is used by the State National
Guard or Militia for N litary pu:-
poses, such as arsenals or armorio;,
while so used, shall be exempt from
taxation. There shall also be ek-
ampt, from taxation, loans made W
on security Of mortgages granted uo-
on real estate situated In this State,
as we'll as the mortgages granted 10
secure said loans, and the notes
bonds, Or other written instruments
eVideneing 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 poltcyholders, upon the sole
security Of pol. held by the boz
rover in the company making the
loans, as well as all notes or other
written instruments, evidencing such
loans, provided, that in the case Of
loans rpon policies of life insurance.
as Aforesaid, the rate of interest
charged upon such loans does not sx-
coed five per cent 6 per cent? per
annum discount.
The capital, surplus and personal
estate of every corporation organic
ed after November 23rd, 1912, N
this State for the sole purpose Ct
lending money on mortgages on
country property situated in Louis.-
ana 1t rate of interest not to ex-
coed six per cent C per cent? net q,
the borrower, with power to nego-
tiate and handle bonds and secur'-
ties issued by the various parishes
and local districts and municipalities
OF the State of Louis lana shall be eS-
empt from taxation for twenty Ca,
years from the date Of the organiza-
ton Of said companies; provide |, |
that said companies shall have a
II mai orh al '