New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-11-02
AN CT

AN ACT
20. authorize the police jury of the parish
Of Caddo to issue bonds.
SECTION l. BE it enacted by the Senate
and House Of Representatives of the State
of Louisiana in General Assembly convened,
That for the purpose Of enabling the police
Jury of the parish of Caddo to provide
funds for the erection of a courthouse. iail
and other required public buildings, and to
pay the debt now due by the said parish,
the police jury of the said parish be. and
they are hereby authorized to issue the
bonds of said parish, duly signed by the
president and clerk of said police jury. and
sealed with the Seal of said parish, to
the amount OF one hundred and fifty thou
sand dollars, or so much thereof as may be
necessary, payable to bearer, in twenty Years
from their date, and bearing eight perinterest
cent per annum, payable semi-annually; said
bonds shall be in amounts of not less than
one hundred nor more than one thousand
dollars, and may be sold under the direction
and control OF said police jury on tine most
advantageous terms, or exchanged for any
OF the debts or obligations of said parish:
provided, that the ordinance of said police
jury, making provision for the issue of
bonds under this act, shall not have the
effect of law unless it shall receive the
unanimous vote of every member of said
police jury of the said parish of Caddo;
and provided further, that said bonds.
when issued, shall be c0untersigned by
each and every member of said police
Jury, which shall be evidence Of the
fact that the issuing of said bonds
is unanimously approved by them.
SEC. 2. Be it further enacted, etc, That,
in order to provide q fund for the payment
of the annual installment of one-twentieth
OF the principal of said bonds and of the
semi-annual interest as it becomes due, the
police jury OF said parish is hereby author
lzed and required, within thirty days after
the assessment rolls of said parish shall
have been completed, to determine what
rate OF taxation on all the total assessed
value OF all the movable and immOyable
property in said parish will be sufficient for
the purpose of paying the said One-twen-
tieth of the principal of said bonds and the
s~eml-annual interest; and said tax, as an
nually determined and ascertained, is here
by levied upon all the movable ana i'm
movable property that may be annually
assessed in said parish, and it shall be the
duty OF said police jury to enforce the col
lection OF said tax in the same manner as
the law now provides, or may hereafter
provide, for the collection of all other
parish taxes; said tax, when collected, shall
be applied exclusively to the purposes in
tended by this act.
SEC. 3. Be itfurther enacted. etc, That nm
til the final payment of the bonds issued
under this act, it shall be the duty of the
police jury of said parish, from time to time,
to apply the proceeds Of the tax levied un-
der this act, to the purchase from the low
est bidders of the bonds issued under this |
act as may be offered for sale. for which
public notice shall be given by said
police jury in the official gazette of said
parish, for thirty days, inviting proposals
from bondholders for the sale to said par
ish of the bonds hereby issued.
SEC. 4. Be it further enacted, etc, That |
ali expenses incurred in carrying out this act
shall be paid by the parish, and that this
act shall go into effect from and after it's
passage.
(Signed) o. II. BREWSTER,'
of the House of Representatives
(Signed) T. b. S. PINCHBACK,
Governor and President of the
Senate.
Approved August IS, 1872.
(Signed) II. G.. WARMOTH,
Governor Of the State of Louisiana.
A true copy:
Y. A. WOODWARD,
Assistant Secretary of State.