New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-03-04

portion OF them, at their highest market
value, but never at less rate than ninety
| (90) cents on the dollar, at such time and
in such manner as they may deem expe-
dent, and their transactions In the Interest
| of the State shall from time to time be made
public in the official journal; provided. how
ever, that said bonds shall be sold only as
claims to be satisfied from their proceeds
| that may accrue.
| SEC. 4. Be it further enacted, ETC., That
the proceeds of the sale OF said bonds. as
provided for in the preceding section, shall
| be paid into the State Treasury, and shall be
| applied exclusively to the payment Of claims
| for work done under contract with the ex-
| listing Board of Pablo Works of the State, oc
| the levees as set forth in the State, to be
drawn from the Treasury on the warrant OF
| the President Of the Board of Public Works,
counter5lgned by the secretary OF SAID
board.
Sec. 5. Be it further enacted, ETC., That
all clai inns presented for payment under the
provisions of this act, when approved by the
Board of Public Works, in writing, endorsed
on said claims, shall be filed by the Secre-
tary of said board, and deposited with the
archives Of the board, subject to the lnspec-
ton of the Governor, Attorney General,
Secretary of State and members Of the State
Legislature, and shall be reported to the
General Assembly st its next session.
o.
to provide for the punctual payment of the
principal and interest of the bonds issued
under the provisions of this act, a special
tax of one-quarter of one per cent
is hereby levied upon the estate, real
and personal, throughout the Sta
subject to taxation, which tax shall con-
iuue from the date Of the passage Of this
act, until the principal and interest of the
bonds aforesaid are fully paid and shall be
collected in lawful money Of the United
States, together with and in the manner
provided. OR that may hereafter be pro
vided for the assessment and collection of
other State taxes, and when collected shall
be especially set apart for the payment OF
the principal and interest of said bonds.
Sec Be it further enacted, ETC.. That
it shall be the duty of the Auditor of Public
Accounts and State Treasurer, once in each
year, to give public notice by ADVERTISE
ment for thirty days, in one OF more news
papers published in the cities OF New Or
leans and New York, of the amount of
money in the treasury applicable to the re
dempti0n of the bonds issued under the
provisions of this act, and to invite seal
proposals for the sale of said bonds to the
State of Louisiana, which sealed proposals
shall be open on the day and at the hour
named in the advertisement, in presence of
the Governor, Secretary of State and Presi-
dent of the Board of Public Works, and the
lowest bids 8 than " (then) made shall be
accepted to the extent of money in the
treasury applicable to the purchase; and
the bonds thus purchased shall be defaced
and Cancelled by the officials above named,
and their proceedings made public through
the official journal of the State, and also re-
ported to the General Assembly at its next
session ; provided, that no bid shall be
accepted which demands more than the
face of the bond, and the interest accrued
since tie last preceding coupon.
SEC. s. Be it further enacted, etc. That
in the construction Of the levees of the
State, the Board of Public Works shall not
discriminate between different sections of
this State, but shall use all the means in
their power to secure to all the people OF
the State, whose lands are subject to over
flow, adequate levees to project them; and
TO this end such levee work as may be by
the Board of Public Works deemed
the years 1870 ard 1871 shall be paid for
in like manner as is hereinbefore provided |
for the payment of works already done;
and any surplus fund remaining in the |
treasury of the State arising from the |
special tx levied under the provisions of |
this act, after the priu cipal and interest OF |
the bonds aforesaid shall have been fully |
paid. shall be he'd subject to the order of |
the Board of Public Works, to be used in
crevasses on streams in the State liable to |
overflow.
SEC 9. Be it further enacted, etc, That |
the sum of two thousand dollars. or so much |
thereof as may be necessary, be and the |
same is hereby appropriated out of any |
moneys in the treasury not otherwise APP |
to pay the expenses of printing, |
lithogl aphing or engraving and stamping |
said bonds, 70 be paid on the warrant OF the |
Governor.
SEC. 10. Be it further enacted. etc, That |
all laws or parts of laws conflicting with |
the provisions Of this act be, and the same |
are hereby repealed; and that this act take |
effect and be in force from and after its |
passage.
(Sgned) MORTIMER CARR.
Speaker of the House of Representatives. |
(Signed) OSCAR j. DUNN,
Lieutenant Governor and President of the |
Senate. F,
Approved February Is, 1870.
(Signedl Fl. G. WARMOTH.
Governor of the State of Louisiana. |
A true copy:
GEO. E. BovEE. Secretary of State.