New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-06-07

mo. 81.
AN ACT providing for the registration and pay
ment Of state warrants and certificates of in
debtedness, and creating fund for the pay
ment Of the same; also, abolishing the re
demption of the State fund" and the free school
fund, and making provisions fer the State 70
meet its Obligations to the last named fund
abolished; also, prescribing a fine against the
State Treasurer for a failure to perform his
outy, and for other purposes.
SECTION /. Be it enacted by the Senate and House
OfRepresentatives Of the State of Louisiana in Cen
eral Assembly convened, That it is made the duty
of the State Treasurer, under the direction 81 the
Joint committee to ascertain and classify the state
Indebtedness to keep in his office a book, books,
in which he shall register all unpaid warrants ana
certificates of Indebtedness issued by the Auditor
of Public Accounts in accordance with law, and
which are PAYABLE out of the general funds that
were issued PRIOR to the first day OF January, eight
cen hundred and seventy-two; or warrants or GER
tifcates Of Indebtedness that may be issued at
any subsequent date according to law, either pur
suant TO appropriations made or IN recognition OF
Indebtedness created pursuant to any law Of the
State in force prior to the first day Of January,
eighteen hundred and seveaty-twO; such warrants
and certificates OF Indebtedness shall be registered
in the order and date Of presentation for registra-
ton and shall be transferable by mere delivery
and payable TO bearer. The registry shall contain
the number showing the order OF registration,
numbering from one upward, the NUMBER, date and
amount of the warrant or cert1hcate ana on the
back OF each warrant or cerulcaUe shalI De IN
dOTsed or stamped by the State Treasurer the num-
Der Of its registration.
Every warrant or certificate of indebtedness so
treasurer on presentation, IT the ofltr OF Ine re-
gistered number; the warrant or certificate of in
debtedness bearing the lowest number shall be
paid first: provided that should any warrant not
be presented in the order of registration the State
Treasurer shall reserve an amount sutncent 10
paw the same, subject to conditions hereinafter
made and the balance remaining after such reser-
walton he shall to pay warrants and certih-
Gates of indebtedness in the order of their regis
tratiOn as above mentioned. The book or books OF
registry provided for IN this secuen shall be opened
Immediately after the passage OF this act, and shall
be kept opened indefinitely.
SEC. 3 Be il further enacted, etc, That the fund
in the State treasury, created by act approved
March nineteenth, eighteen hundred and nifty
seven known as the 0"redemptiOn of the State,
debt fund " be and the same is hereby abolished
and that all the moneys, bonds and other assets
belonging to said fund in the State treasury, at
the time this act goes into effect, shall be trans
ferred by the State Treasurer to the credit Of
fund hereby created, and to be known as the fund
for the redemption of the floating debt Of the
State, due or created on or before the thriy-trst
day OF December, eighteen hundred and seventy
one.
SEC g. Belt further enacted, etc. That the fund
Il the State treasury created by act No. 1872, APP
proved March l9, 1851 known as the free school
fund.- be and the same is hereby abolished,
and in lieu thereof it is hereby made the duty
OF the Auditor OF Public Accounts. to ascertain an
nually the aggregate amount which would be due
the several parishes from the free school fund if
il were retained IN the form in when it was prior
to the passage of this act, and to levy and collect
a special tax to provide for the payment OF the
same to the several parishes when due, the same
as X the fT6e SClOOl Iund mad not Deeu dDOHsneu
AlmOneys, bonds and other assets belonging TO
said free school fund.- in the State treasury at the
time this act goes into effect, shall be transferred
by the State Treasurer to the credit OF the special
fund created in the second section Of this act
SEC. T. Be it further enacted, ETC.. Ihat all taxes
and licenses, for any peTPose Whatever, winch
were due the State prior to the first day OF jan
uary, eighteen hundred and seventy-two but
which shall not have been collected when this act
shall 90 into effect, also the moneys paid into the
State treasury IL redemption OF lands forfeited to
the State for nOn.payment Of taxes due prior to
the first day OF January, eighteen hundred and
seventy three shall as they are collected and paid
into the State treasury, be placed by the State
Treasurer the credit Of the special fund created
by tie second section Of this act.
SEC. s. Be it further enacted, etc, That ali
moneys placed to the credit of the special fund
created by the second section Of this act shall be
the debt for which said special fund was created,
and in the order in which the warrants and certii.
Gates of indebtedness shall have been registered,
as provided in the first section OF this act.
SEC .. Be it further enacted etc, That within
ten days nom the passage of this act it shall be
the duty OF the Auditor Of Public Accounts and the
transferred from the free school fund" and ;he
redemption of the State debt fund.- to the fund
due and created before the thirty-rst day Of
December, eigL teen hundred and seventeen e" to
be sold al some conspicuous place in the city OF
New Orleans, which advertisement shall be made |
for ten days in the official journal of New orleans
At the time and place designated the said Auditor
and Treasurer shall offer such bonds at pubhc aEc-
ton, from day to day, not to exceed SIX Gays |
for the duration Of the SALE to the highest DudSr
to ue paid either in United States currency III Jne
Auditors warrants on the State treasurer OF II
certificates Of Indebtedness, registered accord
ing 10 the requirements of this act. naiu o0nds
shaIl oe offered IN lots Of one VII vi 'o Ia
to the bidder to take twenty at each eltIyi ahu
that no bids shall be received unless |
said bonds II they be state bonds shaI! orlng
sixtv-fve CENTS 0n The dollar, with matured inter
est co,1pons detached to the day OF delivery; and
if thew he consolidated city bonds eighty cents on
the dollar with natured interest coupons detach-
ed 10 tb.' dav of delivery. That If any Of such |
hands sTouId not sell for the amount above speci-
fen +hev shall be retained in the State treasury,
ana sbgil thereafter be exchanged Tor any war /
r9nts or certificates Of indebtedness registered as
nroy-ided for by this act at the rate OF sixty five
l,-T+s nj warrants or certificates Of Indebtedness
for one dollar of bonds if they be Estate bonds" |
and if consolidated city bonds" eighty cents of
warrants or certificates of debteduess registered
according to the provisions of this act for one dol
Tan in bonds the order of registration to be OBJ
IT, after the sale exchange of all the bonds
t shall be found that there have been more war
ants and certificates Of NEUTRALITY-SUSPICIOUS.
according to the provisions of this act, than
here shall be either money or bonds, or both, to
he credit Of the special fund created by the sec
md section of this act, or if holders of registered
certificates prefer, then the excess Of
+ variants and certificates Of indebtedness, regis
cred as aforesaid, shall be paid out of the money |
'laced or to be placed to the creeit Of the said