Semi-weekly Louisianian. [volume] (New Orleans, La.) 1871-1872, 1871-07-13

49, - - - e-ftt =
the, second mortgage bonds 7
thereby secured. and shalf also provide
for the payment by the company top
/ the trustee Of sinking fund for thct
gradcaf redemption Of the principal OF
said bonds. 1.-The payment of saidi
sinking fund shall cOnHnence in five
years from the date Of sid mortgage,
and shall be made annually thereafter.
and each payment shall not be less
than one hal; Of the total amount OF
the principal of all the bones which
shall, up to the time Of such payment,
nave BEEN guaranteed by the State of
Lonisiana "a hereinafter provided. I
whether outstanding or surrendered to
the trustee for the, purposes of the
sinking fund. as hereinafter provided.
The moneys SO paid to the said trustee
snail be forthwith paid by him as soon
Is .1eceired into the treasury OF the
State. and shall be paid out only on
only ON the warrant Of said trustee
or second mortgage bonds Of said
company. surrendered to HIM. and all
. bonds thus surrendered and paid for
. shall be forthwith stamped Icy the
trustee, '.surrendered to the sinking
!und and GOT negotiable" in some ef-
fectual manner. so that they can no!
: be again issued, and shall be ilnmedi-
ately thereafter deposited in the
treasury of the State, and the number
!, md am ant Of each and every bond So
surrendered to the sinking fund shall
: be entered by the trustee and by til
q Treasurer of the State of Louisiana,
d in books to be kept by them for that
il purpose, which books shall at all times
C he open to the inspection OF the Of
Ii ficers of the company. But the interest
l. ON snch surrendered bonds shall b-
1t payable as it accrues to the said TRUSTEES
!" according to the tenor of the coupon
md become part of the sinking fund.
- IND shall be deemed secured by sLid
10 mortgage in like manner as ii salt
j. surrendered bonds were still ouIstand-
g. ing, md such payment and interest OF
III the surrendered bonds shall continue
he until the sinking fund shall amount t.
Il sufficient SUN to pay AL The scconC
a mortgage bonds outstanding. III,
- trustee shall not apply said sinking
> .und nor any part thereof to the pur
!, purchase of said bonds at any create
:. price than par and accrued interest
~. The mortgage securing sail bond
~. .,liaI contain suitable provisions fo
er advertising for sealed propo, ais to Il,
mis- trustee to surrender bouas FOR the pun
o. pose of the sinking fund, and til
Del trustee shall give. the preference to tn
I'd, proposals most favorable to the cor
pal pany; provided, they do not exceed p:
H. ,nl accrltie interest. II, on any occl
IL. /" sion, sealed proposals. IRE no: receive
M ~ he trsstee within the time hmite
ov the advertisement, for the rcquim
=, aumbar Of bonds, within the afores;
Nd limit of price TO absorb the who
b mount OF sinking fund on hand, q
m trustee shall, within three days Tier
@, .fter, by a ccrtiticata in writing, speci
lal! III. amount Of bonds So deficient, q,
:.id .ppo;nt three commissioners to dr.;
II" ~ los the reqnisite amount Of bonds
'n supply the deficiency. Inc said Col
o .nissiuners. shall forthwith, after tht
','' appointment drawn by lot from t
Wv numbers of ali tac second mort -.
bonds then outstanding numbers
..;c bonds to an amount Sufficient to s'ipv
~, sach deficiency, and sh.ill make q;
,cid ign report specifying the number
ua; iriwn by them, and s;inil attach to tiit
ed, report an affidavit sworn TO by each
,ss .ilsm, before some officer OF the 81.
rei. Js IiJl.isian. authorized to ulininis'
G. ,aths, stating that such drawing was
ce'' Ill RESPECTS, imparji.liy add fairly CO
i'h' iucted, and that said report is tn
TUX Tn. said certiiic.te vi fi,e trustee d
report of the commissioners shall
lied in the office ef the Secretary
.ss4te of the State of Losisiana, a
ava, iit renpon the holders oi the bon
,css Bearing the numbers So drawn by
the commissioners and specified ia til
and report shall he bound To Surrender
TEN saline 70 sad trustee on receiving ir
first i'm. his warrant on the State treusl
) &c ioi the amount OF TIE principal OF ;
Tort bonds, with the interest accrued the
foio upon, up to the time of the expirat
nus, OF the notice mentioned in section
'r''' OF sucn eorlier time Us such war;
may be delivered af- y .3sr
five Sec. S. Be- j; farther enacted, ete.,
mort immediately after the fling OF said rel
may Of SID commissioners, the company s
seed- cause notice to be published specif,
,abie the numbers OF the bonds 50 drawn,
mile requiring the holders thereof " surrel
road the same to said trustee. on or bo.o
ding specified day, which shall not be less I
..pot thirty dave after the first r,llblicatio,