The Opelousas journal. [volume] (Opelousas, La.) 1868-1878, 1871-04-15


an.euut Of each andevery bond so surren-
dered to ttae sinking fund shall be entered
hy the trustee and By the Treasurer of
the State Of Lonisiana. In books to be
kert bv them for that purpose, which
books shall at all times be open to the IN,
xpection OF The officers Of the company.
Bot the interest on such surTendered bonds
shall be payable as it acerues to the said
trustee according tothe tenor of the cou-
pom and become part Of the sinking fund,
and shall be deemed secured by said mort.
gage in Ike ma ,ner as if said surrendered
bonds were still outstanding, and such pay
snent ana interest on the surrendered bonds
shall continue until the sinking fund shall
amount to d sufficient sum to pay all the
second mortgage bonds outstanding.
The trustee shah not apply said sinking
fund nor my part thereof TO the purchase
Of said bonds at any greater price than par
and accrued interest. The mortgage Sc
curing said bonds shall contain suitable
.p5ovisions>fo for advertising for sealed pro-
posais to the the trustee to surrender bonds
for the purpose of the sinking fund.- and the
trustee shst give the preference to the pro,
posalss most . favorable to the company
provided. they do not exceed par and &C,
crued interest. If or any occasion, sealed
proposals are not received by the trustee
within the time limited by the advertise
ment, for the requisite number of bonds,
within the aforesaid limit Of price to alb
sorb the whole amount Of sinking fund Oh
hand, the trustee shall, wi hin three days
thereafter, by a certificate in writing, spe-
city the amount OF bonds so deficient, and
appoint three commissioners to draw by
lot t~he-requisite amount of bonds to sup
ply The deficiency. The said commission
ers shall forthwith, after their appointment,
draw by lot from The numbers Of all the
second mortgage bonds then outstanding
numbers Of bonds to an amount sufficient
to supply such deficiency, and shall make
andsign q report specifying the number
so drawn by them, and shall attach to
their report nm affidavit sworn to by each
of them, before some officer of the State OF
Louisiana autisslized to administer oaths,
stating that such drawing was in all res.
poets fni.artially and fairly conducted, and
that said report is true. The said c~ertifi-
cate Of the trustee and report Of the COM
u.issinners shall be filed in the office of the
Secretary Of State of the State ofLouisiana,
and thereupon the holders of the bonds
bearing the numbers so drawn by the
commissioners and specified in their report
shall be bpurd to surrender the same to said
trustee on receiving from him his warrant on
the State treasury for the amount of the
principal 81 said bonds, with the interest
accrued thereupon, up to the time of the
expiration of tie notice mentioned in Sec
ten FIVE, or such earlier tune as such war,
rant nay be delivered. @
SEC. B. Be it further enacted, etc, That
Immediately after the fling of said report
OF said commissioners, the company shall
cause a notice to be published specifying
the numbers of the bonds so drawn, and
requiring the holders thereof to surrender
the same to said trustee, on or before
s.specitied day, which shall not be less than
thirty days after the first publication ot
said notice. Said notice shall be published
in a daily newspaper in the city Of New
Orleans, and in at least two daily "
papers in the city of New York, for four
successive weeks, and upon the expiration
OF the time limited in said notice, the in,
terest on the bonds, the numbers of which
are specified in such notice, shall cease, and
no interest shall accrue thereon after that
time, or be payable, except to the sinking
fund, as hereinbefore provided !; provided,
however, that if any Of the bonds so drawn
shall be payable IN the city of London, fur
Their publication of said notice shall be made
for at least four successive weeks at least
three times in each week, in two newspa.
nnpp tth1iShal ~, thu n.fy,# rs r npInp md kho
date specified for the delivery of such last
mentioned bonds shall be at least forty.five
days from the time of the frs publication
of the last mentioned notice, and the in
terest OIL the last mentioned bonds shall
cease to accrue Except to the sinking fund
as h~creinbefore provided on the expiration
of the last mentioned notice. The pay
ment for beEds surrendered to the sinking
fund, or drawn for the sinking fund, shall
be made in currency, coin or sterling, or
their equivalent respectively, according to
the tenor Of the bonds drawn or surren
dered, and the annual payments to be
made Dy the company to the trustee, for
the purpose of the sinking fund, shall in
ike manner be made in currency, coin or
sterling, or their equivalent. as the prin-
cipal of said bonds shall be payable. In
all eases where any payment is required
BY this act. or agreed BY the company TO
be made in sterling, IL such payment is re-
iuced 70 currency, the premium on gold in
the city Of New York and the rate of ex-
change N London ruling at the time when
such payment is due shall be included !:
and whenever any payment so required or
agreed to be made in coin is made in cnr
rency, the premi1m or goldaruling in the CITY
New of York at the time the payment is due.
shall be added; and IN case of any dec &c or
recovery in any COURT of this State upon
said second mortgage bonds, or any IF them,
or upon said mortgage, the amount due
upon such Of said bonds as may be
payable in cein or sterling, shall be ascer.
tanned by reducing coin and sterling, res
peetively, into currency, according to the
f5regoing rules. Whenever the term "cur.
rency is used in this act, it shall be deemed
70 nean obligations Of the United States Of
America, which are, or shall be, bv the
laws of the United States made d legal ten
der in payment Of debts.
SEc. q. BE It further enacted, etc, That
ihe said mortgage to the Governor of the
State Of Louisiana Shalt contain a further
provision that III ease default shall be made
in the payment of the interest of said bonds,
or any Of them. or Of the said sinking fund,
or any part thereof. and the same shall re-
main in arresr for sixty days after becoming
due, and bring demanded of the said COM
pany the principal Of all the bonds secured
by said second mortgage, and then outstand-
ing, shall upon the expiration Of said sixty
days become due and payable, and said
mortgage shall contain suitable provisions
for the sale Of said railroad and appurte-