New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-06-04
No 81.
An ACT


Providing for the registration and payment
of State warrants and certificates of in
debtedness, and creating fund fer the
payment of the same; also, abOlishing the
redemption of the State fund" and the
free school fund, and making provisions
! for the State to meet its obligations to the
last named fund abolished; also, prescrib-
| ing fine against the State Treasurer for
a failure to perform his duty, and for
other purposes.
| SECTION l. 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 ia
| 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 or certificates of in
debtedness that may be issued at any sub
seQuent date, according to law either pur-
suant to appropriations made or in rtcogni-
ton of indebtedness created pursuant to
any law of the State in force prior to the
first day OF January, eighteen hundred and
seventy-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 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 certificate; 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-
tiODs hereinafter Icade, 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. .. Be it further enacted, ietc., That
the fund in the State treasury, created by
hundred and ffty-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 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 thirty-frst day of Decem-
Der, eighteen hundred and seventy one.
SEC. 3. Be it further enacted etc. That
the fund in the State treasury created bv
act No. 49,, approved March 10. 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
if 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
the payment of the same to the several par
ishes when due, the same as if the free
school fund had not been abolished. All
moneys, 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., That