New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-06-11

An ACT providing for tie registration and pay
ment of state warrants and certificates Of in
debtedness, and creating fund for the pay
ment Of the same; also, aDohshlng the "re-
demption of the State fund and thefree school
fund, and making provisions fer the State to
meet its Obligations to the last named fund
abolished; also, prescribing a fne against the
State Treasurer for failure to perform his
duty, and for other purposes.
SECTION /. Be enacted by the Senate aud House
ofRepresen tatives Of the State Of Louisiana in Gem
eral Assembly convened, That it Is made the dntY
of the State Treasurer, under the direction Of the
joint eo1nnttee to ascertain and classify the stale
Indebtedness, 70 keep in his Office book. or books,
IN which he shall register 81 unpaid warrants and
certificates of Indebtedness issued by The Auditor
of Public Accounts IN accordance with law, and
which payable out Of the general funds that
were issued prior to the first day January eight
cen hundred and seventy-tyo. or warrants or cer-
ti6cates of Indebtedness thar may be issued at
apy subsequent date according to law either 45ur-
stapt to appropriations made or IN Tecog nilen Of
Indebtedness created pursuant to any law of the
state ia force prior TO the frst day Of January,
and certificates OF Indebtedness shall he registered
in the order and date of presentation for legistra
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 Che warrant OF certllcaVe; ana on the
back of each warrant or certificate shall be in
dorsed or stampedby the State Treasurer the num-
Every warrant or certificate of indebtedness, so
registered, shall be paid to the holder By the state
Treasurer on presentation, in the order of the re.
gistered number; the. warrant certificate of in
iebfedness bearing the lowest number shall be
paid first: provided that should anv warrant not
be presented IN the order Of registration the State
Treasurer shall reserve amount sufficient to
pay the same, subject to conditions hereinafter
walton he shall use to pay warrants and ceFtif-
Gates of indebtedness IN the order OF their regis
tTation as above mentioned. The book or books Of
registry provided for in this seetlen shall be opened
Immediately after the passage Of this act and shall
be kept opened Indefinitely.
SEC. D Be it further enacted, etc That the fund
IN the state treasury created by act approved
March nineteenth, eighteen hundred and siftg.
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
belonging To said fund IN the State treasury at
the time this act goes into effect shall be trails
frrred by the State Treasurer to the creditor a
fund hereby created and 10 be known as the fund
for the redemption Of the floating debt Of the
State, due created on or before the thiriy-irst
day of.Deeenber, eighteen hundred and seventy
one.
SEC. 8. Be it further enacted etc, That the fund
n the State treasury created by act 10. i92, ap
proved March 49, 1857, known as the free school
fund.- be and the same is hereby abolished,
and in lieu thereof it is hereby made tia duty
Of the Auditor OF Public Accounts TO ascertain an
nualy the aggregate amount which would be due
the several parishes from the free school fund if
it were retained In the form in when it 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
asif the free school fund had not been abolished
Allmoneys, bonds. and other assets belonging to
said free school fund, in the State treasury 81 the
time this act goes into effect shat be transferred
fluid created in the second section of this act
SEC. 4. Be it further enacted, etc, That all taxes
and licenses for any ? rpose whatever. Which
uary, eighteen hundred and seventy-tWo. but
which shall not have been collected when this act
State treasury in 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 to the credit Of the special fund created
hxf he q
SIC 5. Be it further enacted, etc, That ali
moneys placed to the credit Of the special fund
created by the second section Of this shall he
used by the State Treasurer to take up and Jay
the debt for which said special fund was created
and in the order IN which he warrants aud eerth
Gates OF lnde otedness shall nave been registered
provided in the first section o. this aat
SIC s. Be It further enacted. etc, That within
ten days from the passage of this act it shall be
the duty Of tile Auditor ofPublie Accounts aud the
State Treasurer, Jointly to advertise al Binds
transferred from the free school ftadH and the
redemption of the State debt fundi' to the fund
for the RECEPTION of the floating debt OF the State,
due and created on or before he thirtyfrst day of
fecember Aieiteen hundred and seventy ore % 10
be sold at some conspicuous place in the city Of
New Orleans which ad vertisenent snail be made
At the time and place designated The said udit0r
and Treasurer shall oder such bonds as puehe cue
ior tle etiatlon Of the sale 70 the ..istSs e 80
to be paid either in United States currency, ~ re
AUDITORS warrants on the STATE lteasts 0r y
eetil9cates OI lnde0tedness3 = g S4s -
ing to the requirements OF tins aeO' aala Rohas
shalt be offered ia lots Of one Win tAe privilege
to the bidder to take twenty at eaeh ebt5,S anu
provided that no bids shall be received unless
said bonds II they be State bonds saail bring
sixty-fve cents on the dollar, with nlatred utter
est coupons detached to the day OF delivery; and
if tev be consolidated city bonds, eigtlty cents on
the dollar. with matured interest coupons detach
"a 10 fine day of delivery. That # any Of such
bonds should not sell for the amoHnt a51ye speei-
fed they shah be retained in the state treasury,
and snail thereafter be exchanged for any war
rants or certificates of Indebtedness registered
provided for by this act, at the rate Of sixty tive
cents Of warrants certificates of Indebtedness
for one dollar Of bonds, if they be State bonds
and If consolidated city bonds" eighty cents Of
warrants or certificates of indebtedness
according to the provisions Of this act FOX one dol
lar in bonds; the order of registration 90 be OBJ
served in applications for the exchange az bonds.
If after tie sale or exchange OF all the bonds,
it shall be found that there have been more war
rants and certificates of indebtednesssregi stered
according to the provisions Of this act, than
there shall be either money OF bonds, or both, to
the credit Of the special fund created by the sec
ond section Of this act if holders Of registered
warrants certificates prefer, then the excess Of
warrants and certificates of indebtedness. regis-
tered aforesaid, shall be paid cut of the money
placed or'tO be placed 60 The creeit Of the said