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being the proceeds of the sales of lands heretofore granted by the United States to the State for the use of a seminary of learning, and said amount shall be placed to the credit of said fund on the books of the Auditor and Treasurer of the State as a perpetual loan, and the State shall pay an annual interest of four per cent on said amount from January 1, 1880, for the use of said seminary of learning; and the consolidated bonds of the State now held for use of said fund shall be null and void after the first day of January, 1880, and the General Assembly shall never make any provision for their payment, and they shall be destroyed in such manner as the General Assembly may direct.

The debt due by the State to the Agricultural and Mechanical College fund is hereby declared to be the sum of one hundred and eighty two thousand three hundred and thirteen and 3-100 dollars, being the proceeds of the sales of lands and land scrip heretofore granted by the United States to this State for the use of a college for the benefit of agriculture and the mechanic arts; said amounts shall be placed to the credit of said fund on the books of the Auditor and Treasurer of the State as a perpetual loan, and the State shall pay an annual interest of five per cent on said amount from January 1, 1880, for the use of said Agricultural and Mechanical College; the consolidated bonds of the State now held by the State for the use of said fund shall be null and void after the first day of January, 1880, and the General Assembly shall never make any provision for their payment, and they shall be destroyed in such manner as the General Assembly may direct.

The interest provided for by this article shall be paid out of any tax that may be levied and collected for the general purposes of public education.

CORPORATIONS AND CORPORATE RIGHTS. Art. 234. The General Assembly shall not remit the forfeiture of the charter of any corporation now existing, nor renew, alter or amend the same, nor pass any general or special law for the benefit of such corporation, except upon the condition that such corporation shall thereafter hold its charter subject to the provisions of this Constitution.

Art. 235. The exercise of the police power of the State shall never be abridged nor so construed as to permit corporations to conduct their business in such manner as to infringe the equal rights of individuals or the general well-being of the State.

Art. 236. No foreign corporation shall do any business in this State without having one or more known places of business and an authorized agent or agents in the State upon whom process may be served.

Art. 237. No corporation shall engage in any business other than that expressly authorized in its charter or incidental thereto, nor shall it take or hold any real estate for a longer period than ten years, except such as may be necessary and proper for its legitimate business or purposes.

Art. 238. No corporation shall issue stock nor bonds, except for labor done or money or property actually received, and all fictitious issues of stock shall be void, and any corporation issuing such fictitious stock shall forfeit its charter.

Art. 239. The stock shall not be increased, except in pursuance of general laws, nor without consent of persons holding the larger amount in value of the stock, first obtained at a meeting of stockholders to be held after thirty days' notice given in pursuance of law.

Art. 240. The term corporation, as used in this Constitution, shall be construed to include all joint-stock companies or associations having any power or privileges not possessed by individuals or partnerships.

Art. 241. It shall be a crime, the nature and punishment of which shall be prescribed by law, for any president, director, manager, cashier or other officer or owner of any private or public bank or banking institution to assent to the reception of deposits, or the creation of debts by such banking institution, after he shall have had knowledge of the fact that it is insolvent or in failing circumstances; any such officer, agent or manager shall be individually responsible for such deposits so received and all such debts so created with his assent.

Art. 242. The General Assembly shall have power to enact general laws authorizing the parochial or municipal authorities of the State, under certain circumstances, by a vote of the majority of the property taxpayers in numbers and in value, to levy special taxes in aid of the public improvements or railway enterprises: Provided, That such tax shall not exceed the rate of five mills per annum nor extend for a longer period than ten years.

Art. 243. Any railroad corporation or association organized for the purpose shall have the right to construct and operate a railroad between any points within this State, and connect at the State line with railroads of other States. Every railroad company shall have the right with its road to intersect, connect with or cross any other railroad, and shall receive and transport each the other's passengers, tonnage and cars, loaded or empty, without delay or discrimination.

Art. 244. Railways heretofore constructed, or that may hereafter be constructed in this State, are hereby declared public highways, and railroad companies common carriers.

Art. 245. Every railroad or other corporation, organized or doing business in this State under the laws or authority thereof, shall have and maintain a public office or place in this State for the transaction of its business, where transfers of stock shall be made, and where shall be kept for public inspection books in which shall be recorded the amount of capital stock subscribed, the names of owners of stock, the amounts owned by them respectively, the amount of stock paid, and by whom, the transfers of said stock, with the date of transfer, the amount of its assets and liabilities, and the names and places of residence of its officers.

Art. 246. If any railroad company, organized under the laws of this state, shall consolidate, by sale or otherwise, with any railroad company organized under the laws of any other State or of the United States, the same shall not thereby become a foreign corporation, but the courts of this State shall retain jurisdiction in all matters which may arise, as if said consolidation had not taken place. In no case shall any consolidation take place except upon public notice of at least sixty days to all stockholders, in such manner as may be provided by law.

Art. 247. General laws shall be enacted providing for the creation of private corporations, and shall therein provide fully for the adequate protection of the public and of the individual stockholder.

Art. 248 The police juries of the several parishes and the constituted authorities of all incorporated municipalities of the State shall alone have the power of regulating and slaughtering of cattle and other live stock within their respective limits: Provided, No monopoly or exclusive privilege shall exist in this State, nor such business be restricted to the land or houses of

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any individual or corporation: Provided, The ordinances designating the places for slaughtering shall obtain the concurrent approval of the board of health or other sanitary organization.

PAROCHIAL AFFAIRS AND BOUNDARIES. Art. 249. The General Assembly may establish and organize new parishes, which shall be bodies corporate, with such powers as may be prescribed by law; but no new parish shall contain less than six hundred and twenty-five square miles, nor less than seven thousand inhabitants; nor shall any parish be reduced below that area or number of inhabitants.

Art. 250. All laws changing parish lines or removing parish seats shall, before taking effect, be submitted to the electors of the parish or the parishes to be affected thereby, at a special election held for that purpose, and be adopted by a majority of votes of each parish cast at such election.

Art. 251. Any parish may be dissolved and merged by the General Assembly into a contiguous parish or parishes, twothirds of the qualified electors of the parish proposed to be dissolved voting in favor thereof, at an election held for that purpose: Provided, That each of the parishes into which the dissolved parish purposes to become incorporated consents thereto by a majority of its qualified electors voting therefor.

Art. 252. Whenever a parish shall be enlarged or created from territory contiguous thereto, it shall be entitled to a just proportion of the property and assets and liable for a just proportion of the existing debts or liabilities of the parish or parishes from which such territory shall be taken.

CITY OF NEW ORLEANS. Art. 253. The citizens of the city of New Orleans or any political corporation which may be created within its limits shall have the right of appointing the several public officers necessary for the administration of the police of said city, pursuant to the mode of election which shall be provided by the General Assembly.

Art. 254. The General Assembly, at its next session after the adoption of this Constitution, shall enact such legislation as may be proper to liquidate the indebtedness of the city of New Orleans, and apply its assets to the satisfaction thereof. It shall have authority to cancel the charter of said city, and remit

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its inhabitants to another form of government if necessary. In any such new form of government no salary shall exceed three thousand five hundred dollars.

Art. 255. The General Assembly shall pass necessary laws to prevent sailors or others of the crew of foreign vessels from working on the wharves and levees of the city of New Orleans: Provided, That there is no treaty between the United States and foreign powers to the contrary.

AMENDMENT AND REVISION OF THE CONSTITUTION.

Art. 256. Propositions for the amendment of this Constitution may be made by the General Assembly at any session thereof, and if two-thirds of all the members elected to each house shall concur therein, after such proposed amendments have been read in such respective houses on three separate days, such proposed amendment or amendments, together with the yeas and nays thereon, shall be entered on the journal, and the Secretary of State shall cause the same to be published in two newspapers published in the parish of Orleans and in one paper in each other parish of the State in which a newspaper is published, for three months preceding the next election for representatives, at which time the said amendment or amendments shall be submitted to the electors for their approval or rejection; and if a majority voting on said amendment or amendments shall approve and ratify the same, then such amendment or amendments so approved and ratified shall become a part of the Constitution.

When more than one amendment shall be submitted at the same time, they shall be so submitted as to enable the electors to vote on each amendment separately. The result of said election shall be made known by the proclamation of the Governor.

SCHEDULE. Art. 257. The Constitution of this State, adopted in 1868, and all amendments thereto, is declared to be superseded by this Constitution, and in order to carry the same into effect, it is hereby declared and ordained as follows:

Art. 258. All rights, actions, prosecutions, claims and contracts, as well of individuals as of bodies corporate, and all laws in force at the time of the adoption of this Constitution, and not inconsistent therewith, shall continue as if the said Constitution

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