LEI OF 18 SEPTEMBER
CENSOS.â€ "The redemption of the census capital taxes in favor of the treasures of public instruction, beneficence and hospitals is authorized.
CONSTITUTIONAL PRESIDENT OF THE REPAsBLICA
BECAUSE of how much the honorable national congress has sanctioned the following i read:
THE NATIONAL CONGRESS,
ArtA-ass 1.A ° Municipal councils of the Republic to proceed with the redemption of the censa-tic capitals taxes in favor of the treasures of public education, charities and hospitals.
Art. 2.A ° The capitals referred to in the previous article may be redeemed by 25% in the spot.
Art. 3.A ° The redemption to 25% cannot be made sinA³ within the term of a year following the promulgation of this lei. After the end of this period, the tax will be paid at 30% of the capital imposed. In no case shall the retentions referred to in the preceding articles be enforced.
Art. 4.A The fund that the municipalities obtain for these retentions will invest in the acquisition of mortgage bills at the current rate in the time of their acquisition. Such mortgage letters or letters shall be definitively withdrawn from the circulation by the municipal treasury in accordance with the statutes of the institution, and the letters which are drawn up must be renewed under the same condition. The municipalities will receive the half-yearly interest corresponding to their mortgage bills as their own income, and they will not be able to transfer them, with all alienation being void.
Art. 5.A ° The period fixed in article 21 of the lei of 15 November 1887, is extended by five years for the benefit of the censuses referred to in this lei.
Communicate to the executive branch for compliance.
Session room â€ " La Paz, to twelve of September, one thousand eight hundred and eighty-nine.
J. M. del Carpio. â€ " Daniel G. Quiroga. â€ "EmeterA-or Canoâ€" S. Secretario.â€ "DarA-or MontaA ± â€" D. Secretario.â€ "JosÃ© Manuel Pazaâ€" D. Secretary.
BY TANTO, I enact it so that it has and will comply as I read from the public.
Government Palace in La Paz, at ten and eight dA-as of the month of September, one thousand eight hundred and eighty-nine.
Minister of Justice and Public Instruction Melquiades Loaiza.