New Orleans daily crescent., 1866-01-31
OFFICIAL.


No. IL
STATE OF LOUISIANA, EXECUTIVE DEPARTMENT,
New Orleans Dec. %, 1865. ! |
In accordance with the provisions of an act Of
the General Assembly, hereto annexed proposals
are invited and will be received for thirty days,
expiring January 3lst, 1886, 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.
Bids will be received as low one thousand |
dollars, to be addressed to the Governor Of the
State and indorsed " Proposals for the Purchase
of Bonds"
For the information of capitalists and others who
may wish to invest in these bonds, a statement is
annexed, prepared by the Register of the Land
Office, showing the number of acres OF swamp
| lands remaining unsold and from which, 1t Will De
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 depfe.
| 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.
| j. MADISON WELLS,
| Governor of Louisiana.
| mo. 35.1
| AN ACT TO AUTHORIZE THE GOVERNOR TO ISSUE THE
| BONDS OF THE STATE FOR THE AMOUNT OF ONE
| MILLION OF DOLLARS AND TO PROVIDE FOR THE
! PAYMENT OF THE SAME, TO DBFRAY THE EXPENSES
| OF BUILDING LEvEEs, IN ACCORDANCE WITH THE
CONTRACTS MADE BY HIM AND THE LEvEE coMh1s-
sIoNERs APPOINTED FOR THAT PURPOSE.
SECTION. l. Be it enacted By the Senate and
House of Representatives Of the State Of Louasa-
ana in General Assembly oonrened, That the
~. =, Laro o11,o o,,tIN i1al RI
issue the bonds of the State to be signed by him,
and countersigned 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.
SEC. O. Be it further enacted, etc., That the
Governor, in conjunction with the Board of Levee
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 arr
hereby authorized to pledge said bonds or an.
part thereof, to borrow the money necessary t.
carry out the provisions of this act, until tn
., Legislature shall otherwise provide or direct
SEC. 8. Be it further enacted, ETC., That to Sc
cure the payment ofthe said bonds and all interes
that may accrue thereon, all the proceeds of tn
sale of the public or swamp lands belonging to tn
State are hereby pledged.
SEC. 4. Be 1t further enacted etc., That if durin
the year. the proceeds of the sale of the Public
=, Swamp Lands belonging to the State SO pledge
49, for the redemption of said bonds after reservir
an amount sufficient to meet the interest coupon
there should be surplus, said surplus shall be
piled to the purchase from the lowest bidder
~ such bonds issued under this act and the Govern
and the Commissioners or majority of them, sh
l. have the right of rejecting all bids, demandi
- more than the face of the bonds, for which P'
pose, public notice shall be given by the Govern
in the official gazette and one other gazette in
out of the State, for sixty days, inviting propos
~. from bond holders for the sale of the bonds, he
in described.
- Sec. S. That this act shall take effect from {
after date.
(signed) DUNCAN S. CAGE,
Speaker of the House of Representati'
(sgned) ALBERT VOORHEES,,
Lieutenant Governor and President of the Sen
Approved December %, 1865
(Signed) J. MADISON WELLS,
NCY Governor of the State of Louisit
A true copy:
J. II. HARDY,
AL Eacretarv of State.