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


| Providing for the registration and paymen
of State warrants and certificates Of in
debtedness, and creating a fund for tn,
payment of the same; also, abOlishing tn
redemption Of the State fund.- and th,
free school fund, and making provision
for the State to meet its obligations to thu
last named fund abolished; also, prescrib
ing fine against the State Treasurer fol
a failure to perform his duty, and fol
other purposes.
SECTION /. Be it enacted by the Senate
and House of Representatives of the State
| of Louisiana in General Assembly con
veDed, That it is made the duty of the State
| Treasurer, under the direction of the joint
committee, to ascertain and classify the
State Indebtedness, to keep in his Office a
book, or books, in which he shall register
all unpaid warrants and certificates of in
debtedness issued by the Auditor of Public
Accounts in accordance with law, and
which are payable out of of the general
funds, that were issued prior to the first
day of January, eighteen hundred and sew
enty-two; or warrants OF certificates Of in
debtedness that may be issued at any sub
sequent date, according to law, either pur-
suant to appropriations made or in recOgni-
ton of Indebtedness created pursuant TO
any law of the State in force prior to the
first day OF January, eighteen hundred and
seyenty-tWo; such warrants and certificates
of indebtedness shall be registered liz the
order and date Of presentation for registra-
ton, and shall be transferable by mere de-
livery 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 war
rant or certificates: and on the back Of each
warrant or certificate shall be Endorsed or
stamped by the State Treasurer the number
of its registration.
Every warrant or certificate Of indebted
ness, so registered, shall be paid to the
holder by the State Treasurer, on presenta-
ton, in the order of the registered number;
the warrant or certificate of Indebtedness
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
sufficient to pay the same, subject to cOndi-
lions hereinafter made, and the balance re-
naming after such reservation, he shall use
to pay warrants and certificates of indebt-
edness in the order of their registration as
above mentioned. The book or books of
registry provided for in this section shall be
opened Immediately after the passage of
this act, and shall be kept opened indef-
nitely.
SEC. 2. Be it further enacted, ETC., That
the fund in the State treasury, created by
act approved March nineteenth, eighteen
hundred and fifty-seven, known as the
Redemption of the State debt fund" be
and the same is hereby abolished, and that
all the moneys, bonds and other assets be-
longing to said fund in the State treasury,
at the time this act goes into effect, shall be
transferred by the State Treasurer to the
credit of a fund hereby created, and to be
known as the fund for the redemption of
the floating debt ofthe State, due or created
on or before the thiTty-frst day Of Deem
Der, eighteen hundred and seventy-One.
SEC. 3. Be it further enacted, etc, That
the fund in the State treasury created by
act No. IS2, approved March IS, 1857, 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 annually the
aggregate amount. which would be due the
several parishes from the free school fund
f it were retained in the form in which it
was prior to the passage of this act, and to
levy and collect special tax to provide for
5he payment of the same TO the several par
shes when due, the same as if the free
school fund had not been abolished. All
moneys, bonds and other assets belonging
10 said free school fund in the State treasury
1t the time this act goes into effect, shall be
transferred by the State Treasurer to the !
,redit of the special fund created in the
second section Of this act.
SEC. 4. Be it further enacted, etc, That |
all taxes and licenses, for any purpose
whatever, which were due the State prior !
TO the first day of January, eighties hun |
lred and seventy-twO, but which shall not |
have been collected when this act shall 90 |
ntO effect, also the moneys paid into the |
State treasury in redemption Of lands for |
cited to the State for non payment of taxes |
lue prior to the first day Of January, eight |
ZEN hundred and seyenty-three, shall, as |
hey are collected and paid into the State |
be placed by the State Treasurer |
0 the credit of the special fund created by |
he second section of this act.
SEC. 5. Be it further enacted, etc., That /
il moneys placed to the credit Of the
pecial fund created by the second section
II this act shall be used by the State Treas
rer to take up and pay the debt for which
aid special fund was created, and in the
rider IN which the warrants and certificates
u indebtedness shall have been registered,
Us provided in the first section Of this act.
SEC. b. Be it further enacted, etc., That
Vltmn ten days from the passage of this act
snall be the duty Of the Auditor of Pub
&c accounts and the State Treasurer, joint
y 10 advertise all the bonds transferred
rom the free school fund" and the ere
Lemptlon OF the State debt fund" to the
'fund tor the redemption of the floating
ebG OF the state, due and created on or he
ore the thirty-frst day of December.
ighteen hundred and seyentv.one ,
0 be sold at some conspicuous place in the
ity of New Orleans, which advertisement
hall be made for ten days in the official
New Orleans. At the tins and
lace designated, the said Auditor and
shall offer such bonds at public
uction, from day to day, not to exceed six
avs for the duration of the sale, to the
ighest bidder, to be paid either in United
tates currency, in the Auditors warrants
n the State Treasurer, or in certificates of
registered according to the
equirements of this act. Said bonds shall
G offered in lots OF one, with the privilege
} the bidder to take twenty at each entry;
nd provided, that no bids shall be received |
Mess said bonds, if they be State bonds,
lau bring siXty-fve cents on the dollar,
18th matured interest coupons detached
the day Of delivery; and if they
9 consolidated city bonds, eighty
snts on the dollar, with matured
terest coupons detached to the day of de-
very. That if any of such bonds should |
1t sell for the amount above specified they
all be retained in the State treasury and | j
all thereafter be exchanged for any. war
nts or certificates Of Indebtedness Regis
red as provided for by this act, at the rate