New Orleans daily crescent., 1866-01-18
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OFFICIAL,
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STATE or LOUISIANA, EXECUTIVE DEPARTMENT,
New Orleans, Dec. 28, 1866. -
In accordance with the provisions Of an act Of
The General Assembly, hereto annexed, proposals
are invited and will be received for thirty days.
ekpiring January 31st, 1868, for the purchase Of
ne r,i1ioa e doHdrs of bonds Of the State, paya
Able in twenty years, bearing interest, payable
semi-annnally, at the rate Of eight per centum per
u Annnm, and aecnrsd by the pledge Of all the pro
sSceeds Of the sales Of the public or swamp lands
i Belonging To the. State.
Bids will be received AS low as one thousand
dollars, to be addressed to the Governor Of the
q State and indorsed Y Proposals for the Purchase
u of Bonds.',
For the Information Of capitalists and others who
may wish To invest In these bonds, statement is
annexed, prepared by the Register Of the Land
Office, showing the number Of acres Of swamp
lands remaining ursolds and from which, it will be
seen, the security offered for the redemption Of
! the bonds and the payment Of the accruing inter-
est Is ample and certain With the present depre-
4 oiatipn'cf paper currency below the standard Of
gold, these bonds offer inducements for investment
Of capital that cannot fail to be appreciated by the
moneyed men Of the country.
! ]. MADISON WELLS,
I Governor Of Louisiana.
mo. 81. j
@ AN ACT T0jAuTHoRIzE THE GOVERNOR TO ISSUE TEE
Vii BQtiDs OF THE STATE FOR THE AMOUNT OF ONE
# @lfLLToN oF DoLt4kRs AND TO PROVIDE FOR THE
s# PAYMENT or THE sAME. TO DEFRAy THE EXPENSES
n or BuILpgSG LEvHEs, IN ACCORDANCE WITH THE
CONTRACTS MADE BY HIM AND THE LEyEE GoMMIs-
n sIoERRS, APPOINTED FOR THAT PURPOSE.
SECTION i BE it enacted by the Senate and
House Of Representatives. Of The STATE Of Loslisi
ana h, General assembly conuened, That the
rAl.f.
issue the bonds Of the State, to be signed by him,
and oountersigned by the Secretary Of State, and
sealed with the seal of the state in su1as as he
shall think proper, up to the amount Of one mill
hon pf dollars, payable in twenty years, and bear
ing interest payable semi-annually, at the rate Of
eight per centum per annum.
sEc.2. BE Il further enacted, ETC., That the
Governor, in conjunction with abe Board Of Leyee
i Commissioners shall advertise for thirty days in
the official paper, and TIVE other papers, published
in the city of New orleanes for proposals for the
purchase Of the bonds issued phaer the provisions
E of this act; and upon the receipt Of the bids the
Governor and Board Of Commissioners shall have
TIL power to accept OF reject the same, as they
NJ II ds3n best; provided that in the event Of the
bids being under par and rejected, the Governor
and Board Of Commissioners shall be and are
hereby authorized to pledge ssaid Bonds, or any
part thereof, to borrow the money necessary to
carry cut the provisions Of this act, until the
Legislature snail otherwise provide or direct.
sRo. 8. BE II further enacted, etc., That to Sc.
cure the, payment ofthe said bonds and all interest
tlfat may accrue thereon, all the proceeds of the
sale Of The public or swamp lands belonging to the
State are hereby pledged.
SEQ. q Be Il e,sacted, ETC., That if during
the year. the proceeds 0f the saleiof the Public OF
4 Swamp Lands Belonging to the State 80 pledged
for the redemption Of said bonds after reserying
an amouat sufficient to meet the interest coupons
there should be surplus, said surplus shall be ap
h piled tosthe purchase from the lowest bidder Of
such bonds issued under this act, and the Governo,
and the Commissioners or majority ofthem, shal
more than the face of the bonds, for which pur
pose, public notice shall be given by the Governor
in the official gazette and one other gazette in Of
out of the State forsixty days, inviting proposals
FROM bond holders, for the sale Of the bonds, here
In described. f9
SEQ. 5. That this act shall take effect from and
after date.
Y (bigned) DUNCAN s. CAGE,
sss Speaker Of the House Of Representatives
bsiSigned) ALBERT VOORHEES,,
Lieutenant Governor and President Of the Senate
Approved December22, 1866. @
(Signed) j. MADISON WELLS,
Governor Of the State of Louisiana
Atue copy. ]' 5
3t45J. H. HARDY,
3 Secretary Of State.