New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-01-20
'x1is'lsItsIA.fx.

Nh sstIA tHa sNA
III accordalioe with tsc rosisiors HI ~ act n
tbA General here til anne xed, me nssls
III III HMM asid hi 10 xaceiysd HI thirty days,
expiring January slsk ls8ss iof tse purehase of
sosss I'LL VI so ~ M State, paya,
iii i'll twenty yesSss bealfng interest, payable
annually. s. the III eight per eentum per
snnuzn. Aiaa by Mi pledge of III the pro-
lcssi4 81 shs Saies ~ the pnblicE or swamp lands
bsioneiD6 III sAs ssAia
nIas NH be reosivkd u law al one thousand
R5sIsas. u ba sddIessed til the Governor of the
Hsst 4, M ina0Essd osala for the Purchase
N SsSn4ss u n
ey shs sion III capitalists ind others Who
inAy VIM To invest ID these bonds d statement Ii
sn,lsxed, prep ared III HE Register If tic Land
Once, showing The number Of acres of swamp
lands aiming unaold, and from which, it will be
zen, I'M security offered for The redemption Of
~ bonds and the 5ment Of the accruing inter
sat \ alnpl and certain. i'll tic present deprs-
ciation III paper currency below The standard IF
these bonds ofar inducements for investment
cf capital that cannot fill to appreciated w tile
fnopeyed men f the count
y. MADISON WELLS, 81
Governor Of Louisiana.
81 mo. 81.
FAN AGT' 10 AUTHORIZE THE GOFERNoR 10 ISSUE THE
soSps soF THE STATE FOB THE AMOUNT oF ONE
/ S LION oF nOLLAR and no PROVIDE FOR THE
RkyMEHT on TEE SAME, 10 DEFRAY THE EXPENSES
3# HE HuIlDING LEvEEs m ACCORDANCE WITH THE
/ G0NIR ACTS ldADE BY HIN AND THE LEvEE CoMMIs-
sIoSEHss AfPoINTEp ron TII Az PURPOSE.
sEcIIos. i. ne u enacted by tie Senate and
House Of Repre- sentasiues Of The State Qf Losiss-
ann III General dsens5ly cosspeaed, That the
Governor Of this State il hereby authorized to
issue the bonds Of tile State, to be signed BY him.
md countsrsig ned BIZ Tie Secretary Of State, and
sealed With Tie saal Of the States in snms as he
shalt think prop IA tlle nount of one mil
lion of ollarssp fable ii twenty years, and bear
ing interest ayable semi annually at the rate Of
eight per centam per arlnurl
SIC. 4. Ee II FURTHER enacted, etc., That the
Governor, ii cogfan ction with the Board of Levee
Commissioners shall advertise for thirty days III
the official paper and i've other papers, published
in the city bit New Orleans, for proposals for the
purchase Of the bonds issued under tile provisions
this act and npon the tee eipt Of the bids the
Governor ana Board Ut Commissioners shall have
Sthea power to accept 81 reject The same, as they
may deem best provided that III the event Of tie
bids being under par and rejected, the Governor
and Beard oil Commissioners shall be and are
hereby authorized to pledge said bonds, Or any
part thereof To borrow TIE money necessary to
carry out The provisions Of this act, until the
Legislature shall otherwise provide 81 direct
HEC. 81. Bel asrsls hi enacted, etc., That to Sc
cure THE payment Of the said bonds and all interest
tEat nay accrue thereon, all the proceeds Of the
ale Of the public or swamp lands belonging to the
State are hereby pledged. H
sEc. 4. s enacted, efo,, That If during
The year the proceeds Of the sale Of the Public or
Swamp Lands belonging To the State 50 pledged
the rede1np tion Of said bonds after reserving
amount sufficient to meet the interest coupons,
there should ~ surplus, said surplus shall be ap-
Piled % The purchase from the lowest biddenkof
such bonds issued under this ACT, ana tie Governor
ANA the Commits Of majority Of them, shall
hays the right of rejecting all bids, demanding
more than the facet the bonds, for which pur-
pose public notice shall be given BY the Governor
n The official gazette and one other gazette in OF
out of ie State sixty days, inviting proposals
from bond olders fol tile sale Of the bonds, here
HI described.
sEs. +. That this act shall take effect from and
AFTER date.
signed1 DUNCAN s.. GAGE,
Speaker Of The House Of Representatives
sigaed ALBERT VOORHEES,,
Lieutenant Governor and President Of the Senate. 4
Il prored December ~, 1865.
fsignedl j. MADISON WELLS,
Governor Of the State Of Louisiana
r. HARDY,
Secretary Of State.