New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-03-25

l bred and thirty-four thousand dollars, paya
bic in twenty years, and bearing interest at
the rate OF eight per cent per annum. The
said bonds shall be registered in the books
of the Auditor and Treasurer. They shall
| be dated on the first Cay of January,
| eighteen hundred and seventy, be made in
sums of one thousand dollars, payable to
bearer, and shall have interest coupons at
tached, payable in New Orleans or New Yors
at the option of the holder, semi. ann ually.
| and which interest coupons shall be signed
or stamped by the Treasurer Of the State.
| Sec. q Be 1T further enacted, etc, That
the bonds herein authorized TO be issued
shall be transferred by the Governor to the
custody of the Auditor Of Public Accounts,
! and he is hereby authorized and directed tc
| deliver the same TO 2. J. Kennedy, on &C.
| count of payment OF Indebtedness due him as
| aforesaid, and for the balance remaining.
| He is further authorized aud directed &c
| issue to the said Kennedy his warrant on
| the Treasurer, for the sum of four hundred
and eight dollars twenty-nine cents; pro-
| vided that before delivering said bonds or
| warrant to the said Kennedy, he shall exc
cate receipt that the sum represented on
| the face thereof, is in full payment OF all
| claims he may have against the State grow
ing out OF his contract or contracts as a!ore'
| said.
| SEC. 8. Be it further enacted, etc, That
| to provide for the redemption Of the bonds
| issued under the provisions OF this act and
| the payment of the semi-sGnual interest due
| or the same, it shall be the duty of the
| Auditor and Treasurer. to annually set
! apart, beginning with the year Ammo
| Domini eighteen hundred and seventy one,
| from the moneys in the treasury to the
credit OF the general fund, a sufficient sum
! for the first purpose, until the mai eXtlnc.
|. ton of said bonds, aud every six months,
J,rv It,tyr too
| hundred and seventy, to set apart from the
| moneys in the treasury TO the credit Oh the
general fund, sufficient sum to pay the
semi annual interest due on said bonds.
SEC. /. Be it further enacted, ETC., That
as a further provision for the redemption of
| said bonds, the moneys specially set apart
for that object shall be applied annually to
the purchase of said bonds, and it shall be
the duty OF the Auditor and Treasurer on
| the first MondaR OF January of each year, TO
give public notice, by advertisement tor
thirty days in one or more newspapers pub
lshed i'll toe cities OF New Orleans and New
York, of the amount in the treasury
applicable to the redemption of the bonds
issued under the provisions of this act, and
to invite sealed proposals for the sale OF the
same, to the State OF Louisiana, which
sealed proposals shall be opened on the day
and hour named in the advertisement, and
in the presence of the Governor, or IL his
absence, the Secretary of the State, the
lowest bids then made shall be accepted to
the extent OF the money in the treasury
applicable to the purchase, and the bonds
thus purchased shall be defaced and can
celed by the officials above named and their
proceedings reported to the General Assem-
bly, at its next session; Provided, however,
That no bid shall be accepted which de-
mands more that Lthanl the face Of the bond
and the interest accrued since the last pre-
ceding coupon.
Sec. s. Be it further enacted, etc, That
the sum of two hundred and fifty dollars,
or so much thereof as may be necessary, be
and the same Is hereby appropriated to pay
the expense Of printing, lithographing or en-.
craving and stamping said bonds as may be
decided By the Governor, the same to be ex-
ecuted in the city of New Orleans, and he IS
further directed to cause copy of this act
to be printed on the face or reverse Of said
bonds; that said moneys TO be paid Oh his
warrant.
SEC 6. Be it further enacted etc. That
this shall take effect from and after its
passage.
(Signed) MORTIMER CARR,
Speaker of the House of Representatives.
lSlgnei) OSCAR J. DUNN,
Lieutenant Governor and President OF the
Senate.
! true copy:
GEO. E. BovEE,
Secretary OF State.