New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-29

Gates of indebtedness for one dollar of
bonds If they be Estate bonds. and If s'eon-
solidated city bonds" eighty cents of war
rants OF certificates Of Indebtedness regis
tered according to the provisions of this
act for one dollar in bonds: the order Of
! registration to be observed in applications
| 1or exchange of bonds. If after the sale or
exchange of all the bonds it shall be found
| that there have been more warrants and
! certificates Of Indebtedness registered, &C
cordlng to the provisions of this act, than
there shall be either money or bonds, or
both, to the credit Of the special fund Gre
ated by the second section OF this act, or if
| holders Of registered warrants or GER
tifcates prefer, then the excess Of
warrants and certificates Of indebted
ness, registered as aforesaid, shall be paid
out Of the money placed or to be placed to
the credit Of the said fund as hereinafter
specified. All holders Of warrants or GER
tifcates Of Indebtedness, registered as here
inbefOre provided, who shall not present
their warrants or certificates Of indebteded-
ness within ten DAYS after the bonds to the
credit Of the special fund created in the sec
Ond section of this act shall have been offered
for sale atpublic auction, as herein specified,
shall lose their right of preference, and the
party or parties who shall present their
registered warrants or certificates of in
debtedness within the said ten days for
payment, shall receive payment, in the
order OF their registration, in money, If
there shall be any to the credit Of the special
fund created for the purpose, or in bonds,
as hereinbefore provided. A special appro-
priati0n of all the moneys or funds which
shall be placed to the credit OF the special
fund created by the second section OF this
act, or so much thereof as may be necessary
is hereby made to carry out the provisions
Of this act.
SEC. Z. Be it further enacted, etc, That
if any of the bonds placed to the credit of
the special fund created by the second sec
ton Of this act are not made negotiable or
transferable by delivery, the State Trea-
surer shall cause 70 be written or stamped
on each of said bonds, at or before the time
OF its sale or exchange, as provided for in
this act. the words: This bond is hereby
made payable TO bearer by delivery and
sign the same as Treasurer; and from and
after that date such bonds shall pass and
confer perfect title 10 the holder by the
mere delivery, as if on the face Of it it was
payable to bearer. The State Treasurer
shall weekly report to the Auditor Of Pub
lie Accounts the number OF bonds ex-
changed, their date, number and amounts
for which they were originally issued; also
the number and amount of warrants or GER
Jifcates Of Indebtedness for which they
were exchanged, and make a full and ae-
the operations under the provisions Of this
act.
SEC. s. Be it further enacted, ETC., That
to meet any deficit which may exist after
the bonds and money placed to the credit
of the special fund created by the second
section of this act shall have been ex-
hausted, there is hereby LEVIED tax of one
mill on the dollar on all taxable property of
the State according TO the assessment of
the year eighteen hundred and seventy
one, to be collected and paid into the State
treasury, as other taxes IN eighteen hun |
dred and seventy-two; and should any de- |
felt exist on the first day Of January.
eighteen hundred and seventy-three, it |
shall be the duty Of the Auditor Of Public |
Accounts to ascertain the amount thereof. |
and a special tax, sufficient for the pay |
nnent of such deficit, is hereby levied on |
all the taxable property OF the State, ac-
cOrding TO the assessment rolls of eighteen |
hundred and seventy-twO, to be collected |
and placed into the State treasury, as other |
taxes in eighteen hundred and seventy
three, and the amount in each case to be
placed to the credit Of the fund created BY
the second section of this act; provided, !
that there shall be allowed no compensa-
ton to assessors for the levy herein pro
vided for On the assessment rolls of eight
cen hundred and seventy-two. And said
tax thus paid into the State treasury shall
be used exclusively to pay warrants or GER
tihcates Of Indebtedness registered accord
ing 10 the first section Of this act, and IN
the order Of registry except as herein pro-
vided in case Of the sale Of the bonds
Sec. 9. Be it further enacted, etc, That
al warrants and certificates of Indebtedness |
under and in accordance with the
provisions of this act, except such as may /
be exchanged for bonds as herein provided,
shal bear an interest at the rate Of six per
3entum per annum from the date of their
registry until paid.
SEC. 10. Be 1t further enacted, etc, That
any willful violation of the provisions of
his act by the State Treasurer shall subject
aim to fine Of five hundred dollars for each
)ttense, to be recovered for the State by the
Attorney General before any court Of com
1etent jurisdiction. The State Treasurer
hall also be liable for damages IN full to
my party who shall suffer injury by his lie
gal action or failure to perform any Of the
iuties eniOined upon him, said damages to
De recovered before any court of competent
Jurisdiction on the complaint of the injured
Darty.
SEC. II. Be it further enacted, etc, That
his act shall take effect from and after its
passage, and all acts contrary TO or in
consistent Herewith are hereby repealed.
tSigned) o. H. BREWSTER,
speaker of the House OF Representatives.
(Signed) P. B. S. PINCBACK,
Lieutenant Governor and President of the |
Senate.
Approved May 25, 1872
tSigned) H. G. WARNOTH,
Governor Of the State of Louisiana.
A true copy:
4. j. HERON,
Garra4o,4vv ,jSC 4o+a !