New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-09-17
No. so.
ANACT
70. authorize the police jury of the parish
of Caddo to issue bonds.

70. 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 tor the purpose of enabling the police
/ jury of the parish of Caddo to provide
| funds for the erection of 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 iury, and
sealed with the seal of said parish, to
the amount of one hundred and fifty thou
sand dollars, or SO much thereof as NAV be
| necessary. payable to bearer, in twenty wears
from their date, land bearing eight per interest
cent per annum, payable semi-annualIy; 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 the 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 cOuntersigned bv
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 fund for the payment
of the annual installment of one-twentieth
of the principal of said bonds and of the
semiannual interest as it becomes due, the
police jury of said parish is hereby author
lied aud 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 immOvable
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
semi-annual interest; and said tax, as an
nually determined and ascertained is here
by levied upon all the movable and i'm
assessed in said parish and it shall be the |
duty Of said police jury to euforce the col |
lection OF said tax in the same manner aA |
the law now provides, or may hereafter |
provide, for the collection of all. otRer |
parish taxes said tax, when collected, shall |
be applied exclusively to the purposes in
tended by this act.
SEC. ). Be itfurther enacted. ETC., That IN
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 I'M
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
rom bondholders for the sale to said par
sh of the bonds hereby issued.
SEC. 4. Be it further enacted, etc. That
III expenses incurred in carrying out this act
hall be paid by the parish, and that this
.ct shall go into effect from and after its
'assage.
(Signed) 0. II. BREWSTER.
peaker of the House of Representatives.
.lSigned) P.B. S. PINCHBACK,
Governor and President of the
Senate.
Approved August Is, 1872.
ISigned) II. G. WARMOTH.
Governor of the State of Louisiana.
true copy;
Y. A. WOODWARD.
Assistant Secretary of State.