The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1854-05-25

An Ordinance, providing for the sub.
sciption, on the part Of the City
of Baton Rouge, to the New Or.
leans and Baton Rouge Rail Road
Company.
Be 1t ordained By khs Mayor, and Board o,
S.hcsnnen, cftke city Of Baton Rouge, ~ Common
Mayor Of the city ofBaton Rouge, within ten days
after the ratification Of this ordinance, to subscribe
on behalf Of the aforesaid city, for One Thousand
Shares, Of One Hundred dollars each, Of the Stock
of the New Orleans and Baton Rouge Railroad
Company said subscription amounting. in the
aggregate 10 the sum Of One Hundred Thousand
Dollars.
Be stTurzAer ordainsd That for the payment Of
the subscription, hereinabove authorized, 1t SHAH
be che duty OF the Mayor, to issue Coupon Bonds
in the name Of the city Of Baton Rouge, to the
order Of the New Orleans and Baton Rouge Kali
Road Company, signed by the Mayor, and counter
signed by the Treasurer Of the said city, payable
20 years after the date thereof and bearing In
terest, ut the rate Of six per cent. per annum,
payable semi-annuslly the said bonds, shall be
$1,000. U. g. America No.
State Of Louisiana.
KNOW all men by these presents that the city
of Baton Rouge, State Of Louisiana, scknowled-
Rouge Rail Road Company in the sum Of One
Thousand Dollars which sum the said city Of BATON
Rouge, promises to pay, In current money Of the
United States, to the order Of the President Of
hereof; and also to pay interest at the rate Of
six per cent. per annum. payable semi-annually
ut the Office Of the Treasurer Of the said city, in
Baton Rouge, on the first day of--and first
day Of ---i in every year upon the delivery Of
he interest warrants, in the margin hereof until
he payment Of said principal sum transferable
by-endorsement.
In testimOry whereof the Mayor of the city Of
Baton Rouge has signed these presents, and the
Treasurer Of thessaid city has countersigned the
same the seal of Baton Rouge being thereto
Affixed.
Done at Baton Rouge, this ID Of - in
The year Of our Lord One Thousand Eight Hun
xred and Fifty Four.
-, Treasurer.
Be IT, further ordained, &c., That The stock ac-
CURED, bv virtue Of the aforesaid subscription on
the part OF the city, shall, with Its revenues, be
specially reserved and set apart, for the payment
Of the principal, and interest," Of the Bonds, 10 be
issued under the provisions Of this Ordinance, and
remain pledged, until such Bonds, principal and
interest, are fully paid and discharged.
Be IL furkher ordained, de-, That 1t shall be
the ratification Of this Ordinance, and annually
thereafter, to commence, and soon as possible
to make and return, . full and complete roll,
showing the value Of the landed Aestate, with
in the corporate limits Of the aforesaid city Of
Baton Rouge, and the name Of the person or per-
sons, by whom the same may be owned, rs far as
such name names may be ascertained and It
shall furthermore, be the duty Of Such Assessor,
within Five days, after such roll, shall have been
completed aud returned, rs hereinabove required,
to determine, by accurate calculation, what rate
Of taxation, on the total value Of the landed es-
tate situated within the corporate limits Of the
aforesaid city Of Baton Rouge, will be sufficient,
to realize and raise, annually the sum of Fight
Thousand Five Hundred Dollars; and such rate of
taxation, as annually ascertained and fixed, is
hereby annually levied upon all the landed
estate, situated within the corporate limits of the
City Of Baton Rouge; the said tax to be-
come due and payable on the first Monday of Au-
gust in each and every year; and IL is hereby
made the duty Of the Collector of Taxes in and
for the said City Of Baton Rouge to collect the
taxes, authorized and levied by this Ordinance,
and the collection Of the same, shall be enforced
In manner and form, as is now, or may hereafter
be provided by law, for the collection Of ether
Municipal taxes and wherever any tax shall be l
paid, under this ordinance, it shall he the duty Of
The tax collector to give to the person PERSONS
paying such tax, receipt therefor, setting forth
the amount of the taxpaid, and on what account, |
which receipt, shall enttle such Tux payer to a
certificate, transferable by delivery from the city
Of Baton Rouge, for an amount equal to the tax |
paid, and which certificate shall be evidence Of the
VI LHe tdA payer, 10 SO many SnaFeS, or
share, or fractional part Of share, of the stock
Of the Baton Rouge and New Orleans Rail Road |
Company, to the extent Of the tax paid by each |
tax payer, subject to the privilege and pledge,
hereiDabove setforth. ss ,-gT
Be itfwrther ordained, &c., That thStayes to be
collected, annually as aforesaid, shall wien paid
into the treasury Of the said city, there remain to
an amount sufficient to extinguish the annual in
terest, as 1t may senli-annually become due, upon
the aforesaid Bonds, and to be withdrawn there
yu fnrn MIR hate 90 oC
and extnguish the annual interest, upon
the Bonds aforesaid the surplus, remaining on
hand, over and above the sum sufficient to meet
the interest as Aforesaid, together with the pro-
ceeds or dividends, arising from. the shares, SUBJ
scribed for by the City Of Baton Rouge, to form
a sinking fund, out of which to pay off, and dis
charge, all Of the said Bonds, at the maturity
thereof provided, however, that the sum thus
on hand, over and above the interes.
rs aforesaid; and the revenues and dividends,
arising from the stock, as aforesaid, may be used
in taking up, the aforesaid City Bonds though
not due, and in the purchase of Bonds of the State
ol Louisiana, bearing six per cent. interest, and
becoming due, prior to the maturity 6f the Bonds,
to be issued under this Ordinance.
he 1T further ordained, &C., That this ordin-
anco SO far as it levies tax and provides for the
payment Of the interest and the formation of a
sinking fund, shall not be repealable until the
entire amount due and to become due, upon
the Bonds issued by the Mayor, under and by vir-
tue Of this Ordinance, are fully paid and extin-
guished, with the following lmjtn ton and reser.
Vaton, to wit. That whenever u sum sufficient to
pay and discharge the full amount Of the afore-
,ad Bonds and all interest accrued, and unpaid
'r to accrue thereon, shall have been collected and
paid into the treasury Of the city of Baton Rouge,
hen and in that event, the tax herein levied and
assessed shall longer be collected nor the pay
nent Of the same enforced.
Be further enacted, de-, That with view Of
aking the sense Of the voters, in the said city of