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at a price not to ex eed One Hundred el. and Three -and .asecrued interest. If the bonds cannot tee purchased as afore- whi said, the sinking fund shall be invest- am ed by the Board of Liquidation of the State De t in sound, interest bearing Sp_ sec(:urities. producing not less than four per centum per annum interest on the Lie amount no invested, or deposited in solvent banks furnishing adequate so- Ap] vurity to the State. to be approved by the said Board, at a rate of interest not less than four per centum per an- A num. Said tax shall be levied until a all of said bonds shall have been re tired, but after the assessments of the State roach the sum of Six Hundred and Fifty Million Dollars. said tax shall he reduced to one mill and shall there- Set after be reduced two-ter.ths of one mill for each One Hundre1 Million Dollars Pre increase in assessments until the sail tax sttall be reJured to six-toaths of one mill. The said tax shall constitut, a part of the six mills of taxation per mitted to be levied by the Constitution. In case the present system of taxa tion shall be changed before the said er.i bonds shall have been paid. there shall an be levied annually a tax suffici'ent to to produce a gross sun of not less th'ian'91 Six Htundredl and Fifty Thousand Dol- Lo lars to take the place of sail tax of fol one and two-tenths mills and its re-S ductions. "The Board of Liiquidation of the iih State Debt shall have power to settle to under the conditions and limitations str hereinafter provided, the following thi claims of indebtedness made by varn- pa ous persons against the State. to-wit: is (1) The outstanding bonds known as thi Baby Bonds excluding all lBaby uBonds o fraudulently issued by any official of ed the State." ie,] (2) "Auditor's warrants issued for 1w school. certificates of indebtednes5s un der Act 126 of 1880. cel (3) Certificates issued under Art 93 no of 1880 for costs and fees due to the "ip officers of the State. 44) Warrants drawn prior to 1f0 mt and fundable but not funded into Baby ex Bonds. ta (4) Warrants drawn after January Pu of 1880 against 1878 and previous years isi Provided. however, that the owners at, or the duly authorized trustees of the at owners of said claims may prior to be January 1lt. 1915, but not thereafter, cit proceed against the Board of Liquida tion of the State Debt by rule. solevy of and excluslvely n the district Court of en the Parish of Mast Baton Rouge, to as have the said claims examined and pr their validity and the indebtedness due na thereon determined, which court is hereby given Jurisdiction for that pur- Ira This jurisdiction shall extend r.ot i co only to the determination of the morel legal liability of the State on any of to Ssaid claims, but also to the determina- itn' tton of any equitable liability of the th State thereon and the extent of such at eouitable liability. Appeal shall lie in 23 all cases. Irrespective of the amounts St involved, on the original record, to the fe Supreme Court of the State of Louist- Pc ana. The definitive decrees of said PC courts shall not have the effect of ,udg- Ye ments against the State or the Board or of Liquidation of the State Debt. The It Board of Liquidation of the Ptate Debt h1t shall have the exclusive power to set- p tie the claims, thus approved by, the til courts of the State. out of the sinking th fund above provided for as funds are ml available, but they shall not be paid ls otherwise or out of any other fund. th Nothing in this amendment shall be se construed as a recognition by the State of any liability, whether legal or equl- TI table, to the owners or the holders of s any of the said above designated bonds. St warrants or claims, and the burden of cc proof shall rest throughout on each of vi such claimants to show such liability. al Out of the first durplus accruing "in ai the sinking fund, there shall be paid in full the amount of primnipal and itter- et eot due on the bonds of the State. the is face values of which aggregate Thirty- p1 Seven Thousand Dollars. and which at are held by the United States as trus tee for certain Indian funds. is "This article, as amended, shall be P Sdeemed to be self-acting and directly di to confer the power and authority 01 herein granted without an enabling act di of the General Assembly." i Section 2. Be it further resolved. Pt br the General Assembly of the State vt SLouisilana. two-thirds of all the miembers elected to each house con- S1 eurring, That the official ballot to be used at said election shall have printed L thereon the words: "For the proposed amendment to Ar- A tide 41 of the Constitution of the State of Louisiana, relative to the refundinw and settlement Of the indebtedness of A the State." " And the words: "Agalast the proposed amendment to Article 46 of the Constitution of Ihe lState of Louisiana. relative to the re funding and settlement of the indebt ednaess of the State." And each elector shall indicate on said ballot, as provided in the General Election Law of the State. whether he votes for or against the proposed amend ment. L. E. THOMAS. p} Aker of the House of Representatives. THOMAS C BARRET t utenant Governor and President of the Senate. Approved: July 11th. 1912. L. F HALL. Governor of the State of Louisiana. A true copy: ALVIN E. HiBERT. Secretary of State. ,LT NO, 355. peate gtil No. 131. By Mr. Aimsoher. JOINT RESOLUTION Prlposing an amendment to the Constt 'lition of the State of Louisiana. pro siding far the exemption from taxa tionforaperiod of ten (10) years from the date of its completion, of all ral rosAh or parts of railroads. conostrpet sub smbequently to June 1, 191a.f Section 1. Be it enacted by the ilen Assembly of the State of Louisi twe-thirds of all the members elected to mci House concurring therein, That the following amendment to the Constitution of the State of Los Islana be submitted to the electors of the State at the next election for Rep resentatives in Congress. to be holden on the first Tuesday after the first Monday in November. 1912, to-wit: There shall be exempt from taxation for a period of ten years from the date of its completion. any railroad or part of railroad that shall have been con structed and completed subsequently to June 1, 1l12. and prior to January 1. 1917. This exemption shall include and apply to all rigihts of way. roadbed. sidings, rails and other superstructures upon such rights of way. roadbed or sidings; and to all depots, station houses, buildin~s ereq4tors and strue tures appurtenant to such rallroads and the operation of the same: but shall not include the depots. ware houses. station houses and other struc tures end appurtenances nor the land upon 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 assirned to any corpo ration or corporations, person or per Cens whomsoever, and provided fur ther that this exemption shall not aP ply to double tracks, sidings. switches. depots or other improvements or bet t,*,st5 which may be oanstructed by railroads now in operation within the State, other than extensions or new lines coretructeA by sub railroad,. Provided. further that when aid hsa heretofor., been or which may h-re after be 'oted by any parish, ward or munlcipe~ty to any railroad, such rail road shall ntr bhe ertit'l to the ex emption from t:_xation ihcrein stablilsl ed Section 2. Be it u'-ther enacted, etc.. That the official eilots at said el ' tion shal' have printed thereon the words: "For the proposel amendment to the Corstitution of the State of lou isiana relative to exemption from tax ation for ten years fror71 the date of its completion. of all railroads or parts of railroads, cotstructed subrequentlv to january I. Is13" and the words "Agaiist the proposed amendment to the Conotloiin of the State of Lou iSlan trtlative to exemption from tax attoso for a period of ten ears from r pamts t era_as ce.mt..rucd sbh elector shall indicate as provided In the general election laws of the State whether he votes for or against the amendment. L. E THOMAS. Speaker of the House of Representatives. THOMAS C. BARRET. Lieutenant Governor and President of the Senate. Approved: July 11th. 1912 L. E. HALL. Governor of the State of Louisiana. A true copy: ALVIN E. T!EBERT. Secretary of State. ACT !O. 23. Senate Bill No. 161. By Mr. Mouton. A JOINT RESOLI'TION Proposing an amendment to Article 2! S of the Constitution of the State of Louisiana relative to taxes. for the 1 construction and maintenance of pul- a lic roads. t Section I. Be it resolved by the Gen- n eral Assembly of the State of Iouisi- e ana. two-thirds of all members elc,t'Ct ii to each liouse nncurring. That Article I' 291 of the C(,ntitution of the State of S Louisiana be amended so as to rtead as s follows: Article 291. The Police Juries of this State may Brm their respective par ishes into rod, districts: and in ordr to raise funds for the purpose of con structingr. :aintaining. and- repairing t the public roadls and bridges of their l parishes. they are unthorized to set a aside at least one mill per annum of t the taxes levied by themn, and to impose t a per ca:lta tax not more than one c dollar per annum upon each able bod led male inhabitant of the parish be- t tween the ages of e!ihteen and fif.y five years. and to levy an annual li- c cerse of not less than twenty-five (25c) r nor more than one dollar per annuml upon each vehicle, inc-luding bicycles. I kept within said parishes or within a t municipality thereof whether or not c exempt in its charter from parochial c taxation, and used for locomotion over ( public roads. in their respective par- r ishes; which license shall be gradu- q ated. The provisions of this article rel- v attve to the per capita tax, shall not t be operative in incorporated towns and t cities that mintain their own streets. 2 To carry into effect the provisions of this Article the Police Juries may enact such ordinances of a civil nature e as may be necessary to enforce the e property and license tax,. and of a crimi- c nal nature to enforce the per capita tax. r Police Juries and municipal corpo- c rations in the several parishes of this State may levy other taxes for the construction and m~aintenance of pub lie roads and bridges within the terri torial limits of said parishes, and may e incur debt. and issue negotiable bonds therefor in the manner and to extend I authorized under provisions of Article 232 and 281 of the Constitution and the i Statutes adopted to carry them into ef- I fect. Other taxes may be levied by the Police Juries for road and bridge pur- i poses not to exceed five mills for five 1 SI years on the property of the Parish. I or any ward thereof, whether the rate of I taxation and the purpose thereof shall have been submitted to the property tax pavers of the said ward or parish en titled to vote under the election laws of the State. and a majority thereof in number and value of those voting at ' I said election shall have voted in favor thereof. That this article shall be self operative.1 Section 2. De it further resolved. etc.. That this proposed amendment shall be submitted to qualified voters of this State for adoption or reJection at the congressional election to be held in No vember. 1912. -nd. if adopted. the same shall take effect immedittely there after. Section 3. Be it further resolved, etc., That on the official ballots to be issued at said election' there shall be - placed the words "For the proposed amendment to Article Two Hundred and Ninety-One of the Constitution of Lou islana." and the words "Against the pro posed amendment to Article Two Hun dred and Ninety-one of the Constitution e of Louisiana." and each elector shall in t dicate. as provided In the general elec tion laws ot the Slate which of the propositions. "For" or "Against" he B votes. votes. L. E. THOMAS,. Speaker of the House of Representatives. THOMAS C. BARRET, Lieutenant Governor and President of the Senate. Approved: July 11th, 1912. L. F_ HALL, g Governor of the State of Louisiana. f A true copy: ALVIN E. HEBERT. Secretary of State. This.Paper Always Prints the Latest and Best NeWS. News That Is Ii News at t: ThisPaper .. . D; r rI t P Ea CONSTITUTIONAL AMENDMENTS Iwl EXTRA SESSION 1912 1 Sp ACT NO. 4. Al Ser.ate )ill No. 2. Biy Mr. Voegtle. Joint res.,ltion .-u;mitting to the I:,eqpje of the State of J. ll isitna an :lmendn.ent to thi ('orstituti,'n au thlorizili parisihes and self-taxing tmu Inlirpailies to exempt new industrial entririses anti also. impnroved va;lu.. I ine lusie of structure anhled to unlin- S -proved lanus by immligrants into the SStote. who u" l:py :,cdll lands as home- m' .str1'.s frort local t:.xaltio for a period IA not exteeding ten I 10) yeSt a. is! Stti.In 1. le it rsolved by the dt - r(-iial . ssembly of the State of Lou- to r islara. two-thirus of all the members tc - elcoted to ca;:h hout concurring. That fr the tfolowing anlen lmenit to thei Con- or r stitutio: of the Sta.te of louisiana be de t and the samei Is hereby snbmitted to s1i Sthe qutalified electors of the State at dt e tile t'ol;gresional election to be held e on the first Tuesd.lay after the first 01 - ond::y n,. the month of November of if the year 1912. to-wit: et Every parish and arlf-taxlng muni- fo -citality shall have the right to exempt til new industral e;iteprlses and also the fi It improvel value added to unimproved r. s. lands. including all structures thereon. si I by immigrants into tile State who oc- T, t cupy said lands as homesteads, from lo- m I cal taxes for a period not to exceed ten r* (10) years by the vote of two-thirds in ttl number of all its taxpayers, who are at - qualified electors, including resident ul women taxpayers, holding at least two- q9 t thirds of the property subject to local Jt dl taxation within the taxing locality at A If i. special election called for that purpose, IP s at which special election members of he y partnerships. associations and heirs of pi e estates. otherwise qualified. shall be W e entitled to vote tl.eir rspDectlve pro rata ft I- of the assessed valuation of said part- :: t. nershits. associations or estates. Itch of enterprise so exemp.ted must be situat- h( s ed within the limits of the exempting p e authlority and be established after the o exemption is grant:,d. r I- Section 2. le it further resolved, y etc., That there shall be printed on is the ballot to. be used at said election pi d the words: "For the constitutional w e amendment authorizing parishes and c self-taxing municipalities to exempt new It r- industrial enterprises and also improv- re ie ed value. inclitsive of structures. added r- to unimproved lands by immigrants T e into the State who occupy said lands I '. as homesteads,. from local taxes for a w of periodl not to exceed ten (10) years." and a 11 "'Against the constitutional amendment It x authorizing parishes and self-taxing t' 1- municipalities to exea:pt new industrial e If enterprises, and also improved value. a n inc:uding structures. added to unim- v tt proved lands by immigrants into the S )r State who occupy said lands as home- ti re steads, from local taxes for a period not to exceed ten (10) years." and each L elector shall indicate on his ballot as to provided by the general election laws of Is the State whether ne votes for or S to against the said amencment. - THOMAS C. BARRET, A le Lieutenant Governor and President of e- the Senate. L. E. THOMAS. A 4. Speaker of the House of Representatives. Approved: August 24th, 1912. L. E. HALL. Id Governor of the State of Louisiana id A true copy: 1- ALVIN E. H1BERT. Secretary of State. n- - I' s3 ACT O. . c- Senate Bill No. 3. By Mr. Burke. d 18 Joint resolution submitting to the a ae people of Louis.ana an amendment to i the Constitution exempting from taxa- a tlon for twenty (20) years corporations I :. organised to lend money on mortgages t on country property at not more than t of six (6) per cent Interest, net to the borrower, with power to negotiate bonds ( and securities of local taxing districts. Section 1. Be it resolved.by the Gen- e A. eral Assembly of the State of Louisiana. t two-thirds of all'the members elected to each house concurring, That the follow Ing amendment to the Constitution of a the State of Louisiana be and the same t is l- .reby submitted to the qualified electors of the State at the congree sional election to be held on the first i Tnesdlay after the first Monday In the month of November. of the year 1912. to- t wit:' The capital, surplus and personal es- I tate of every corporation hereafter or ganlied in this State for the sole pur pose of lending money on mortgages on country property situated in Louisiana 1 at a rate of interest not to exceed six (6) per cent net to the borrower, with , power to negotiate and handle bonds and tcurities issued by the various par- I Ishes and local districts and munlcipall- , ties of the State of Louisiana shall 1 be exempt from taxation for twenty (20) years from the date of the organization of each of said companies, provided that each of said companies shall havh a full paid assh capital stock of not less than $250,000.00, and provided further that in case any such corporation shall on any loan charge the borrower more than six per cent interest, whether by way of commission, discount. or otherwise. it shall forfeit the entire examption here in granted. and bhe subject to taxation from the time it makes such loan; and an' such corporation handling or ne gotiating any sueurities other than those hereirahove mentioned phall incur a like forfetture. No sulch corporation shall have power to receive any money on deposit or to do a banking business of any sort. but all such corporations shall be under the cor.trol an-l supervision of the State BRank Examiner. whlose duty it shall be to report to the Attorney General and the State Tax Comrn!ss(on any vlola tlon of the condition of this exemption. Section 2. Be it further resolved, etc.. That there sha.ll be printed in the ballots to be used at said election the worls "For the amen'ment to the Con st;tution exempting .om taxation for twenty (20) years corporations organiz ed for the sole purpose of lending money on country real estate situated In Lou isiana at not more than six (6) per cent to the borrower, with power to ne gotiate and handle lo.*al securities." and the words "Against tile amendment to the Constitution exempting from taxa tlion for twenty (20) years corporations organized for the sole purpose of lend ing money on country real estate situat ed In Louisialana at not more than six (6), per cent net to the borrower, with aeower to negotLte and handle local p,,uritIeg" and each elector shall in dicate on his ball,., as proilde! by the general election laws of the State. wrhether he votes for or against the said amendment. THl!OAg C. BARRT. Lieutenant Governor and President of the Senate. L. W. rlOMAS. Ppeaker of the House of Representat!ves. Approved: August 24th. 191 .ALL Governor of the State of Lou!stans. A trt,. copy ALVIN FR HIEBERT. rcretary of ttate. Sen~ate 111 N.- t ly Mr. Fa-rot. Joint rsold.t'hn pr*-.s'nIg an ame-ni 'ert to the Ct',-tilt!t.n of the St-t+ of I.ouis'ta,- relattive to the ex ,nmptton from taxation of mnoney in an l or on I deption 1. Be It re~*rvel bs" the aen eral Ase'.blh c' th- Itste of T.'ulIinna. two-thirdsr of all the members elected to each house coa-urrlt' That the fld lowing ampnlmet t t the ConFtht't;:ion, of the State be submitted to the quat! fled electors of the State for their I.doptlon or rejection at the conges ilonal election to be Rell on the first 1e~eday after the first Monday In then. m5nth of November. 112., as follaws: - hevr shall be exempt from taxation ail2 moioey In hand or on deloell. ':" M, Be it 4 ttD rt flo565i -. That the official ballot to be used at *l1 said election shall have printed thereon the the words: "For the proposed amend- stil ment to the Constitution of the State of ele Loultiana exempting from taxation all or mooney in hand or on deposit." and tne tin words Against the proposed amend- aft ment to the Constitution of the State ef of Louisieaa exempting from taxation all money in hand or on deposit." And each for elector shall indicate, as provided by cot thie kereral election laws of the State. an whether he votes for or againax the pro- str posed amcndment. the TIHOMAR C. BARFRT. tlo Lieutenant Governor and President of er. the Senate. str L. E. THOMAS, eat Speaker cf bhe House of Representatives. op. Appr.ove4: August 24th. 1912. Jai 1. F- HALI, the Goverror of the Stale of Louisiana. sie .t trcM rcojy: stc ALVIN E. HPfIRT. lol Secretary of State. thi -- ne, ACT NO. 8. ter Senate B!ll No. 5. By Mr. Well. lI .Jont resolution pronposing r«n amend- til nment t, the Constitutton of the State of su ILouisiana. relative to authorizing par- be ishes and rounicipalittles by a referen- thi dum to their respective qualified elec- th tors to exempt from taxation an amount thi not to exceed $2.000.00 to be deducted by from the value of dwellings exclusively occupied by bona fide owners for rest- etc dential purposes only, and to withdraw at such exemption by a similar referen- th dum. an Section 1. Be it resolved by the St OGeneral Assembly of the State of Lou- ta: islana, two-thirds of the members elect- da ed to each house concurring. That the 10 following amendment to the Constitu- Pu tion if 1898 be submitted to the quail- ye fled electors of the, Stpte for their fi redoption or rejection at the congres- "A stonal election to be held on the first to Tuesday after the first Monday in the ini month of November. 1912. as follows: fn That every parish or municipality. ne through its Police Jury or governing an authority shall have the right to. and wi upon the petition of one-fourth of the of qualified electors residing within its Ai jurisdiction shall, submit to the qual- v ified electors in said parish or munic- th tpality, at an election to be called and as held for that purpose, after thirty days' publiqhed notice, the question as to LI whethler or not there shall be exempted from taxation an amount not to exceed $2,000.00 to be deducted from the value Si Sof all buildings exclusively occupied by bona fide owners for residential pur- Ai poses only: provided that any exemption may be withdrawn in the same manner in which it may be granted. A No such exemption, voted by a par ish. shall operate to grant any tax payer owning and occupying a home I within a municipality the right to de Iuct the exempted amount from the improvement value of his property in Si respect to municipal taxation. Section 2. Be It further resolved, m That there shall be printed on the hal- of lots to he used at the said election the th words: "For the proposed amendment IN I authorizing exemption of homes from 81 Staxation." and the words: "Against the proposed amendment authorizing Gi Sexemption of homes from taxation." is and each elector shall indicate as ,pro- el vided in the general election laws of the th State whether he votes for or against et the proposed ,rnd'lment. t THOMAS C. BARRET. tt Lieutenant Governor and President r S of the senate. ft SL. E. THOMAS. t Speaker of the House of Represen- Il tatives. Approved: August 24th. 1912. al f L. E. HALL. c Governor of the State of Louisiana. ti A true copy: ALVIN F. HEBERT. ei Secretary of State. ai tl ACT NO. . Senate Bill No. 6. By Mr. Barrow. it Joint resolution submitting to the 81 people of Louisiana an amendment to 'l the Constltution providing for referen dum to the people of each parish to C determine whether cities and incorpor- e e ated towns and villages or any one or a 0 more of them shall be free from taxes g and licenses levied b, parochial author- A 5 ites fbr parochial purposes. subject to v 5 the obligation to make certain contri- tl n butions to the parishes. a e Section 1. he it resolved by the 5 General Assembly of the State of Lota * Isiana. two-thirds of all the members - elected to each house concurring. That I. the following amendment to the Con- S 0 stitution of the State of Louisiana be - and the same is hereby submitted to A f the qual!fied electors of the State at e the congressional election to be held d on the first Tuesday after the first A - Monday in the month of November of t the year 1912. to-wit, C Every parish throutnt its Police Jury - shall have the right to-submit and. upon the petition of one-fourth of the H I- qualified electors therein snail submit - to the qualified electors of said perish. P - at an election to be called and held C , for that purpose after thirty days' pub a lished notlce. the question of whether a Sor not all or any one or more of the h cities, incorporated towns and villages e Is within the limits of the parishes (un- t r- less already exempt) shall be free and t exempt from all taxes and licenses lev- le Sled by parochial authority for parochial t ) purposes, provided that whenever such in n exemption is granted. each city. incor- 6 it porated town and village so exempted a 11 shall contribute to the parochial author- a n ities its fair proportion of all parochial , it burdens. debts and e~penses common to n both. Such proportion to be adjusted n between the Police Jury and thb mu- c f nicial authorities, and in case of die- ts it agreement such apportionment, to be made by the State Tax Commi~ston. s i Section 2. Be it further resolved. d etc.. That there shall be printed on the i C- elots to be used at toe said election a ' the words. "For the amendment to the c e Constitution establishing a referendum I to the people of each parish to deter- c r mine whether or not cities and incor- e o porated towns and villages shall be re- r t leased from parochial taxation and I1- I Sceases, sublect to tae condition of con-I 5 tributing to par!sh expenes.e" and thea: s words. "Against the amendment to the t i Constitution establishing a referendum If ' to the pen'le of eac't psrish to deter- - . mine whether or not cities and mncor- 1 '. orated towns and villages shall be re- . C leased from parochial taxation and II- ( Sceases. subject to the condition of con- a 0- trtbuting to parish expenses." and each a or elector shall indicate on his ballot. as - provided by the general election laws t y of the State, whether he votes for or c against the psi'l amen'CvRent. CrTHOMAS, C. BAtRiPl'. e- Lieutenant Governor and President o of .he Senate- B. THOMAS. I a- Speaker of the House of Represen Statives. Approved: August 24th. 1912. L. F?. HALL. 1 x Governor of the St ~te of Louisiana. A true copy:ALVTN R HEBERT. n- Secretary of Stats. e. ACT NO. 20. Id 5enate Bil No. 7. By Mr. Shaffer. J'oint resolution submitting to the people of the State o* Loucs'ana- at the congressiopal election to he held in November. 1912. an amendment to the Con'stittion of the State exemptinf5 from taxation for ten 10) vears from the date of completion the capitil _tock. franih'5e5. and ceria!n property of all cororations construeting, owning cvni oncert'nt with'n the State a cort. bleel system of Irritation, navigation and hv'ro-electrie p--w'er. using fresh wet"r" trears .5nl weter s.ebs- peovit el thit each eystiem be comleted i'JcA t' icc or~ -.n t'cn w'thin five (i; ye rs from 1- .Jnruo v 1st. 1913. pr1 pro',iding for Lt theethat -ot l s- thsn five million in dollars *bahl have been expended in nI the .~runcc~tiin of each si.tem. I Wheres. the State of Tdcuteiaca has - ar aren *ompriatnIe millions of acre j c. of l.n that can be reclaimed and Sb-oms r.t int' cult*v'*tion~ bh- it, gation. it. whe-"',v la"e' addilt!ors w'l1 .be made ,n to t?. coculetlon ano the assessed val- a 1" ue o" th'e Sttte: and. ir Wheross. --sils can be contret-te4 5-o as to provtie ireigtion. navlgatitin t anso powe-. ard it is t'e State's dutyr ha to encourcrae and phomote the 'orgatn I1~co. of u-job concerns:. . .. -a e'toon 1. Be it r keolved by the Gee l e Attmeply o0. the Ptate of sis ;- nn, (wothirfs a all the 1Mmb/ t slected to each house soacurrian That St the followit4 amendment to the Coi* t stitution be submitted to the quatlified ct electors of the State for their adoption tr or rejection at the congressional eloe- to tion to be held on the first Tuesday at after the first Monday in the month iu of November, 1912. as follows: p There shall be exempt from taxation rx for ten (10) years from the date of tt completion the capitat stock, franchlise tF and property of all corporations con- ii structing. owning and operating within * the State a combined system of irriga tion. navigation and hydro-electric pow- tI er. using fresh water of Louisiana t streams. and water-sheds, provided that W each system shall be completed and in tb operation within five .(5 years from ft January 1st. 1913. and provided further that not less than five million dollars et shall have been expended in the con- e struttion of each system. No real or °i corporeal property stall he covered by this exemption except that which ' is necessarily connected with and anpur tenant to each canal system and form Ing part thereof, nor ehal! this exemp- el tion extend to the assessed value that P such real estate had at the time it may ' be acnuired by the company: provided a that the right of the State to regulate a the diversion of its public waters from their natural beds shall not be waived by this amendment. Section 2. Be it further resolved. etc.. That the official ballot to be heed d at said election shall have printed ' thereon the words: -'For the pro-osed t1 amendment to the Constitution of the t{ State of Louisiana exempting from b taxation fg ten (10, years from the date of completion certain new canals for Irrigation. navigation and power purposes to be completed within five years with a capital of not less than five million dollars," and the words: "Against the amendment to the Consti tution of the State of Louisiana exempt ing from taxation for ten (10) years from the date of completion certain new canals for irrigation, navigation and power purposes to be completed n within five (5) years with a capital r of not leas than five million dollars." And each elector shall indicate as pro vided in the general election laws o? the State whether he votes for or against the proposed amendment. r THOMAS C. BARRElT. Lieutenant Governor and President of the Senate. L. E. THOMAS. Speaker of the House of Represen tatives. Approvel: August 24th. 1912. L. F. HALT. Governor of the State of Louisiana. A true copy: ALVIN FL HtEIERT. Secretary of State. t ACT NO. U1. Senate Bill No. 8. By Mr. Voegtle. Joint resolution .rnposing an amend ment to the Constitution of the State of Louisiana exentnting from taxation the legal reserve of life insurance corm panies organized under the laws of this State. Section 1. Pe It resolved by the General Assembly of the State of.Lou- t isiana. two-thirds of all the memlpers elected to each house concurring. That the following amendment to the Con stitution of the Ptate be submitted to the qualified electors of the State for their adoption or rejection at the con grreasional election t- h- held on the first Tuesday after th- first Monday in the month of November. 1912. as fol lows: There shall be exempt from all tax ation the legal reserve of life insurance companies organised under the laws of this State. Sectpn 2. Be It further resolved. etc.. That the official ballot to be used at said election shall have printed thereon tile words: "For the proposed amendment to the C.,nstitution of the .State of Louisiana exemnting from all taxation the legal reserve of life in ' suranc~ companies organized under the o 'laws of this State." and the words: - "Against the proposed amendment to' the a Constitution of the State of Loulslana exempting from taxation the legal re r serve of life insura.e cimpantes or a ganised under the laws of this State." And each elector shall indicate as pro o vided by the general electiom laws of the State, whether se votes for or against the pro~oned amendment. THOMAb 6. BARRElT. e Lieutenant Governor and President of the Senate. Sof the L. ~ THOMAS. - Speakser of the House of Represea e tatives. o Approved: August 24th. 191L. IA t. HALt d Governor of the tsate of Louisiana. It A true copy: A true op: ALVIN E. HERBERT. Secretary of State. L ACT No lt It House Bill No. 2. By Mr. Roberta Joint resolution submitting to the peo t" pie of Louisiatna an amendment to the d Conrstitutk n reorganizing and remodeling - the State'r v.stem of aussment and tax tr ation. SSection 1. Ie it resolved by the Gen s eral Assembly of the State of Louisiana. I- two-thirds of all the members elected to each House concurring, That the fol n- lwi amendment to the Constitution of I the State of Louisiana he and the same ih s hereby submitted to the qualified elec - tors of the State at the Congreslosnal d election to'bq held on the first Tuesday r- after the first Monday in the month of tI November, in the year 1912, to-wit: to Article I. d 1. The tarxing power shall be exer - clsed by the State and by its subdlvis 5- ions for public purposes only. e 2 The taxing power shall never be surrendered, suspended, given, eommu d. tedl or contracted away; but where par el shes or munnicipal corporations shall n grant exemnotions fmm parish or muni t cinal taxes for a period not to exceed ten in years from date of comoletlon to en r- courage the establishment of industrial r- enterprises, or a similar exemption to Im - migrants of the value added by them to I- vacant property owned and occupied as a - homestead, such exeramptions shall not be io withdrawn either as to enterprises es to tablished or substantially begun In good IS faith, or to Immigrmnts who have actu r- ally acquired end imuroved or in, good r- faith begun to Improve their hometteds. e- since the granting of the exemption. The i- General Assembly on behn)lf of the State, Ii- and the governing authorities of all *ub h divisions of the State on be"alf of such is subdivision, may defer for not more than re three years the cohection of taxes In lo or calities subjected to overflow or other puble oalP.mity. 3. The General Assembly shall have power to classlifv all property for taxa tion, and to adopt different rules and tates for different classes, hot such rules and fates shall be equal and uniform oS all subjects of the name clars throughout the territorial linits of the authority levying the tax. All such classifletations shall be based on the characteristles of the property itself or its use. and never on persons or ownership. 4. Excent in case of forelan invasion or domestic revolution, the General As sembly shill not have power to levy any ad valaorem prore'tv tax in excess of !e ur per cent: but the General Assemhly Ssh.aU not exceed the rate of two and one half per cent except byhv a vote of tw. Id thirds of all the members elected to eachb to house thereof. I1 Artile II. m 1. The sources of State and local rev emoe, shhll be sen'rgated and, except as y hereinafter srecifled, or hs may be here Safter permitted by a vote of two-thirds " of a11 the memhers elected to eech House 'tof the Cenea-l Ase-n.ly, each taxlng nb authority shall he restricte In taxa*.tinon to l*s .' vn sources of revenue as herein Sassigned. n 2. Untl otherwiste Provlded byh a vote r- of tw.-thtrds of all the mem-era elected n t-o each House of the General Assembly, In the ifllowing shall he the sources of Stae revenue: fs[ 1st. The speelal taxes hereinafter pro 1 tnd. All Corporations, private persoe t. land unincornorated associations that on le erte any railroad fatlllnr under the Jris 1- licttin" of the Railroad Cmmlllskslh of ILnleiana: street ratIlrnad; etimbhned 54 street railroad and telectrie HItiht and In power budners; .bestlg or refriaeatio Y plant (not inclusive of cold storage it- Jmat): telephone lime: telegraph tian whether witaelms otberwise: epream - lae. datlmr ea, sdeeptnaw eu. l ear, re State; steamboat, moter boat. steamamsh ferry. 'barge, and tug, or other water craft, where operated for hire, canal a transportation or Irrigation, and pipe line for oil or gas. When the electric light and power business conducted In con Junction with any street railroad can be practically severed from the street rall road business for purposes of assessneut then such severance shall be made br the nTax Commission and such electric light and power business shall not be a. source of State revenue. 3rd. All banks, State and Nationarl including savings banks, trust banks and trust companies, and. all private bankers. whether lndividuals or partnerships, save that the real estate of all banks and bankers shall be locally assessed and taxed. The assessments of the real estate of banks and bankers shall be equalited annually by the Tax,Commis dion to the basis established and in vogue In each locality where -such real estate is located. 4th. All Insurance companies Includ Ing bonding and surety companies, for elan or domestic, and all persons arnd partnerships engaged in insuring persons or property, save that all the real estate and corporeal property of such companies. persons or partnerships shall be locally assessed and taxed. 5th. All sugar refineries, rice mills.. cotton seed oil mills, cotton seed oil re fineries and refineries of petroleum and Its products. A sugar refinery is hereby defined to be e. concern that buys and re fines raw sugar exclusively, or a concern' that buys and refines more raw sugar. than the aggregate of the sugar produced by it from cane grown and purchased by it. 8th. All mines of sulphur, salt or other minerals, all off or gas wells, all stone quarries, sand, gravel and shell pits. 3. Only the operative property of State sources of revenue shall be segregated to the State. The General Assembly shall define, In a manner not lnconsistent with any provisions of this amendment, what the operative property of each suoh source Is. Real .estate and the improve ments thereon forming part of any ral roand terminal, depot or yard or ware house or shoo, acquired . a er July 1. l12, even though It may fbrm" prt of the operative pro'orty of any railroad. shill not be conse@ered a source of State revenue .except by constittional amend ment, unless such property had been, orior to said date, part of a railrosd 'ter minal, depot, yard, warehouse or shop. 4. All other uroperty subject to taxa tion. excent as herein mnecified, or exeent as may hereafter be directed by a vote of two-thirds of all the members elected to each house of the General Assembly shall be sources of local taxation. Article Ill. The General Assembly shall have power to levy for State purposes the followitr special taxes: 1. A tax on the transfer of stocks in corporations not to exceead cents a share. 2. A tax on the organistlion of do mestic corporations, organised for profit. excepting banks, fraternal Insurance companies and building and loan or homestead association, not to exceed ten dolars at, plus not to exceed one twentith of one per cent of the sthese I2ed capital stock and surplus, which tax shall be levied upon increases of ealptall stock as well as upon original issues. 3. A tax on private corporatiolas or- ganized for preofit, for the privilege of ex ercislng corporate functioas. sot to ex ceed one-twentIeth of one per cent per annum on the outstanding capital stock and surplus, excluding banks, fraterrnal and life asurance companies and boild-d Ing and loan or homestead assocliation no such tax to -be les than Ave dollars On foreign corporations this tax shall be levied on such proportions of their capital stock and surplus as is used Is this State in Intra-State busiaease 1 leu of the franchids tax on capital ad surplus, life insurance companies f and domesti, not including. fraterna34 i surace asociatipns, shall pay anm ll" '" a tat fee t4 $1.0 plus tI 50 o n ! -; $ 10,000.00 of bremnams collected la Le- , lana during tim preceding year. 4. The annual ad vyaloren ait on .;a Sautomobiles and taxicabs, and "plso e all other auto-driven vehicles and for transportatiol of perason or freight foa hire. with bermis'ton to the local. govera meat of the re0idence of the w'g to levy an mna! llkrese tax not to esese r 5.00. Ond-haf of the proceeds of this State tax collected each ewner hI ga to the State good rads funds; the remsinlg moiety aof such tax . shall e paid over by the State to the gaevesisd authority of the locality from which the machine is registered, to be devoted e , elusively by such aors.tingI authority to " the improvsment of the public highwayr · within tts jurisdiction. L A tax on cotton future oontrtsst. In lieu of all license to fhtae br tn. of not more than fiften nor less tn' ten cents pn each purchbase and sale % each 100 bales, to be nld on each trsse action, one-hltf by the buyer and oe . half by the seller. i. A tax on gran. coafee. rice and ., e spser future contracts. in lieu of ' g licenses to future brokers, of not anso i- than one asnd one-half per cent nor lass' than one per cent on the nmmlsaifoe t ta- ald on each trnation. Each unit eos a. tract as establshed by the rules of the . Srespective exchanges shall be the baab' I- of thq tax, to be paid. one-.half ,by the it burst and one-half by the seller. as 7. A .true, progemlive inheritance tas. for the benefit of the lenerl Wutnd, ant\ I 4-f such tax ti levied all benefiaelries stieh ty he divide} into the following classes wirh it the following maximum exemptions the each elass: First, aseendasts, den"'masnes. r- mousles, with as exemntlon of 2,000 ei4. e- a.cept as to the widow, whern, the exr eptotnn shell be iK,0C0. and 4 e-.t as It Schildren under the aces of *xtee*. whew I- the ew..mptbon shall he $2.540 each. The r- wldowt's marital fnurth shall he exemet II Pecond. rollateral relations f the sec 1- nd degree, Inctluint nenhens 3n11 mlin ies and threr dstendamnts when..the a- estate is divided by roots, with Ls ex nl emntnion of $1.n0 to each root. snd derah- - ter--in-law with an exemgtloa of $1,05' to each. a Tinrd, collsteral reltitons of the thir Sdereane, excludinar nchews arnd nles es- and their reresentatlves, with, an ex d emotion of a400 e-ch. j- Fourth. all other collateral relatione wdI within the sixth de*gree Inclusive, withl s, an ervmptlon of $251 each. i Ifthi. strangers and all collateral se e, lsatlons beyond the sixth degree, with am - exemption oft 81 each. h The maximum raft of the progresmve a tax shall not exceed eight pe cent.for the - first class,. twelve ntr cent for the senni r classu, axteen per tent for the third class.m, twenty-five per cent fr tl' fo,,'th c'm,. we snd thirty per cent for the fifth cle. r- maximum rates to be attained when anw" ad inheritance. lersov. or donation exceetdas a a half million dollars. >i And the minimum ratee of such ta at shall he one c6r cent for the first elass, ty two and one-hatf er' cent fr4 the seend as nrlass. three and thre-fonrthe per cent of for the third tss, aeven per cnt. for thl ' er forth olass, and th(rteen per cent fa the fifth elass. Wheever the rate of' m esessment levied againLt any inhet- s. once. 'egacy, or other donation, when de-. ry dcted from samid inherltaece, Jegler oa or other donMtion, would leave the' ly hnefclqtrv a smaller net -mounu thbl e. he would have received lad the is n. heritance. legacv or other donation Shlem Ib int the next 'ower class In the eliUa fltsn according to smwa"mt nft set utl cuh value, then the rate of tlxatiamp v- shall bhe first eoslcr-,' ted unon the mrl as mum amount In Maid nexrt I-we* 4a,. e- and the remaining sr mourt of the Inhwrit ns Ine. Iac., or other donatlon eshll be se tared t the rate fixed for the hither eg class Into wuloh the inheritance, legacy,' n or other ,lnqtlin fl' 1dn l4 i n Dt,amultlon of Inherttfre tuses as la tween this State and sher Rtatle. frar mt -l.n intd domestic. shall he avoided b ad the e.'emnfion of eoolumeat ar-erty be y, "unri(n to a cert~e.t of this Pt's*e. and of situated out*ie of this Rtate. fo the Mr rFnt of sey inheritance tax olf msh other - bState: a", by the *enantlon of loos* e i ore-I rights helnnglfr to s^n-rer4n e as deceents, such na shars of stock he i- I./r~uislna cornorationas noteS hand, sad s. vidences of debt due by Ltisism aebt of c-a or besrine on Loulma property, tha ad the ame extentL ad This tax shall ato ls opied to slIT ds a natins inter vive., the dnoerw to lt' a, gI ridei into the same clases blhateahrba -. i efined All doeslius hater v tm to tIe se nd person wihtle a a o4 Of s. shall e b tel ae eI tegoeat' Ib ,.ar-ttjC