New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-01-04
oFFICIALa

~ VI - l,lz
s5FATE or LOUISIANA, Executive DEPARTMENT. a.
New Orleans, Dec. rs, 1865.
In accordance with the provisions of an act Of
the General Assembly, hereto annexed, proposals
are invited and viii be received for thirty days,
expiring January Slat, 1865, for the purchase Of
one million IF dollars Of bonds Of the State, paya-
Die IN twenty years, bearing interest, payable
seliiannually, at the rate Of eight per csntum per
alnum, and secaredby the pledge of all the pro-
ceeds Of the saIes Of the public or swamp lands
belonging ID the State. #Ss
Bids will be received as low ais one Thousand
dallars, to be addressed to the Governor Of the
4 State. and Endorsed g Proposals for the Purchase
Of nonds.,' Z
For the Information of capitalists and others who
may wish toiisyest hi these bonds d statement is
annexed prepared by the Register Of tile Land
Office, showing the number of acres Of swamp
lends remaining unsold, and from which, it will be
seen, the security offered for the redemption of
the bonds and The payment Of the accrfing 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 fail to be appreciated BY Tie
moneyed men Of the country.
s5...4sa J. MADISON WELLS,
& Governor OF Louisiana
y No. 35.l
An ACT 10 AUTHORIZE THE GOVERNOR TO ISSUE THE
bonds or THE STATE FOR THE AMOUNT OF ONE
MILLION OF DOLLARS AND TO pROvfBE FOR THE
PAYMENT OF THE SAME, TO DEFRAY THE EXPENSES
y OF BUILDING LEVELS, IN ACCORDANCE WITH THE
CONTRACTS MADE hi HIM AND THE LEyEE coMMis
si0NEYss, APPOINTED FoE THAT PURPOSE.
SECTION. /. BE II enacted BY tie Senate and
House of Representatives Of he &qte of Louisi-
ana n General assembly coauesea, That the
f1rv.a1 10 a. RI. N. pm5.. II,
issue the bonds of the State, to be signed BY him.
and coaatersigned by the Secretary Of State and
sealed with the seal oftlie STAGE, in sums as be
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. 2. BE II further enacted etc., That the
Governor, in conjunction with the Board Of Leyee
Commissioners shall advertise for thirty days In
The cffcial paper, and two other papers, published
in ihe city OF New Orleans, for proposals for the
purchase Of the bonds issued under the provisions
II Of this act md upon The receipt Of the bids The
Governor and Board of Commissioners shall have
thepower To- accept Or reject the same, as they
may deem best; provided that la 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 to-
carry out the provisions of this act, until the
Legislature shall otherwise provide. or Direct |
SIC. 8. BE III further enacted etc., That to se.I
cure the payment othe said bonds and all interest
that may accrue thereon, all the proceeds Of the
sale Of the public or swamp lands belonging to the
State are hereby pledged.
SEC. 4. Be ii further enacted etc., Thatif during
the year. the proceeds of the sale of the Public or
Swamp Lands belonging to the State SO pledged
for the redemption of said bonds after reseryinp
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 OIL
such bonds issued under this act, and the Governor
and the Commissioners or majority of them, shall
have the right Of rejecting all bids, demanding
more than the face ofthe bonds, for which purs
pose, public notice shall be given by the Governor
In the official gazette and one other gazette in or
ont Of the State. forsixty days. inviting proposals
bond holders, for the sale Of the bonds here
in described
SIC. Il That this act shall take effect from and
after date.
tsigned) DUNCAN s.. GAGE,
NJ Speaker Of the House of Representatives.
tSgned1 ALBERT VOORHEES,,
Leutenant Governor and President of the Senate,
Approved December 20, 1865.
iSigned) j. MADISON WELLS,
a true COPY rs - 8 s. $50
J.. H. HARDY,
+ I 4 il