The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1874-02-07

the same to be done shall be suh
ject to the same penalty.
Sec. 4. Be it further enacted
ETC., That the exchange Of TIA
bonds or valid warrants authorized
by this act shall be effected hv
said board of liquidation in ths
cities Of New Oflea;.s and New
York.
Sec. 5. Be it further enacted
etc, That the consolidated bonds
herein authorized shall be held
and used by said beard of lionida.
ton only. for the purpose Of *.
change as aforesaid; said honda
shall be used tor no other purpose
or purposes than IA authorized by
this act, and any member Of tia
board Of liquidation using or at
tempting to use. or attempting %
induce any person or persons to
use, said bonds or any Of them for
any purpose or purposes shall, on
conviction thereof, be punished
by a fine ofnot less than five thou
sand dollars and by imprisonment
at hard labor for not less than
one year.
Sec. 6. Be it further enacted
ETC., That notice Of the adoption
of this act shall be published bv
said board in one or lH0rn journals
of New Orleans, New York, Lon.
don, Paris and Amsterdam.
Sec. Z. Be it further enacted.
etc, That tax OF five and half
mills on the dollar ct the assessed
value OF real and personal prom.
erty in the state is hereby annu.
ally levied, and shall be collected
for the purpose of paying the in
terest and principle OF the consoli.
dated bonds herein authorized.
and the revenue derived there
from is hereby set apart and ap-
propriated to that purpose, and no
other. And that it shall be deemed
a felony for the fiscal agent or any
officer Of the state OK board OF liqui.
dators to divert the said fund from
its Legitimate channel MS provided,
and upon conviction the said party
shall be liable to imprisonment
for not mere tlias ten years and
not less than twOr at Ire dis.
erection ct the eoart, II there
shah, during any year, be a sur.
Eplus arising from saNl tax after
f paying all interest falling due in
. that year, such surplus shall be-
, fused for the purchase and retire.
: ment Of bonds authorized by thiw
fact, said purchases to he made by
: the said beard Of liquidation,
: trom the lowest offers, alter due
: notice; provided, that the total
9 tax for interest and all other state
f purposes, except the support Of
: public schools, shall never hereaf.
e ter exceed twelve and a halt mills
! on the dollar. The interest tax.
!. aforesaid shall be a continuing an.
: nuaI tax until the said consoliaa,
! ted bonds shall be paid. Or re,
' deemed, principal and interest;
, and the said appropriation shall
) BE- a continual! annual appropri-
!. alton during the same period, and
r this levy and appropriation shall
! authorize AID make it the duty Of
! the auditor AM treasurer, and the
E said board, respectively, to collect
f said tax annually, anL pay SAID r. ?,
d terest and redeem said Ionds u6tn
!; the same shall be fully discL arged'
E Sec. 8. Be it further enacted,
: etc, That the bonds and valid
warrants outstanding at the time
|, OF the passage OF this act, shall,
/ as fast as they are received in ex-
+ change for consolidated bonds, be
], cancelled and destroyed by the
/ said board ofliquidation, and con.
J, solidated bonds purchased as pro-
4 vided for in section seven Of this
act, shall be Cancelled and destroyed
|, after public notice has been given
/ of the same III the official Journal
1 of the state, in the presence Of az
) many citizens as may desire to %
s present, in like manner,and within
1 ten days after such destruction, 10
d each case, process verbal OF the
' same shall be published and . 70
il port made to the general assem-
g bly, on the first Monday Of every
q year, by said board.
t Sec. 9. Be it further enacted!
J. ETC., That it shall be the duty o.
e the auditor in his next annual re.
s port to give a detailed account O
t the proceedings had under thu
# act, including the amount OF new
g bonds issued, the amount OF ole
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