New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-01-23
q oFFICIAL4.
Me- IS
STATE Of Lou1sIANA, ExFoUTrvE DEP ARTstINr,

j
STATE or LOUISIANA, ExEoUrIvE DEF ARTsENT,
New Orleans, Dec. rs, 1865. j
4 In accordance with the provisions Of an act Of
the General Assembly, hereto annexed, proposals
are invited ana will be received for thirty days,
expiring January 3lst 1866, for the purchase Of
one million Of dollars Of bonds of the State, paya
BILE IN twenty years, bearing interest, payable
semi annually at the rate Of eight per centum per
annum, and secured by the pledge Of all the pro-
ceeds Of the sales Of the public Or swamp lands
belonging to the State.
u Bids will be received al low as one thousand
dollars, to be addressed to the Governor Of the
State, and indorsed 4 Proposals for the Purchase
Of Bonds.''
u For the informationo 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 unsold, 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
citation Of 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,
@ Ia 81 Governor Of Louisiana.
mo. 35.1
AN ACT TO AUTHORIZE THE GOVERNOR no ISSUE THE
BONDS OF THE STATE FOR THE AMOUNT OF ONE
MILLION OF DQLLARs AND TO PROVIDE FOR THE
PAYMENT OF THE SAME, TO pEFRAY THE EXPENSES
of BUILDING LEvEES, IN ACCORDANCE WITH THE
CONTRACTS MADE BY HIM AND THE LEvEE COMMITS
sIoHERs, APPOINTED FOR THAT PURPOSE.
SECTION. /. BE IT enacted By he Senate and
House Of Representatives Of the State Of Lo,sisi-
| ana IN General Assembly, convened, That the
Governor Of this State is hereby authorized to
issue the bonds of the State, to be signed by him,
| and eountersigned by the Secretary Of State, and
sealed with the seal Of the STATE, in sums as he
shall think proper, up to the amount Of one mil
lion of dollars, payable in twenty years. and bear
ing interest, payable semi annually, at the rate OF
! eight per centum per annum.
sEo.2. BE it further enacted, ETC., That the
i Governor, in conjunction with the Board of LeYee
Commissioners shall advertise for thirty days in
the official paper, and two other papers, published
in the city Of New Orleans, for proposals for the
purchase of the bonds issued under the provisions
Of this act and upon the receipt of the bids the
Governor and Board Of Commissioners shall have
! the power to accept or reject the same, as they
may deem 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 said bonds or any
| part thereof, to borrow the money necessary tn
carry out the provisions Of this act, until the
Legislature shall otherwise provide or direct
SEC. 8. Be it further enacted, ETC., That to Sc
cure the payment Of the said bonds and all Interest
that may accrue thereon, all the proceeds of thu
sale Of the public swamp lands belonging to the
State are hereby pledged.
SEC. 4. BE 1t further enacted, etc., That during
the year, the proceeds Of the sale of the Public Oh
Swamp Lands belonging to the State SO pledged
for the redemption Of said bonds after reservine
an amount sufficient to meet the interest coupons
there should be surplus, said surplus shall be ap
! Piled to the purchase from the lowest bidder Of
such bonds issued under this act and the Governor
i and the Commissioners or majority Of them shall
have the right of rejecting all bids, demanding
more than the face of the bonds, for which pnr
pose, public notice shall be given by the Governor
in the official gazette and one other gazette in o.
out Of the State, for sixty days inviting proposals
from bond holders, for the sale Of the bonds here
i in described.
SEE. 5. That this act shall take effect from ant
after date.
lsigned) DUNCAN s. CAGE
Speaker Of the House of Representatives
4 (signed1 ALBERT VOORHEES,,
Lieutenant Governor and President Of the Senate
i Approved December %, 1866.
/ (signed) j. MADISON WELLS,
Governor of the State Of Louisiana
A true copy:
/ J. Il. HARDY,
4 Secretary Of State.