New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-02-06
LAWS or THE STATE OF LOUISIANA
PUBLISHED BY AUTHORITY.
AN ACT

To provide for funding obligations OF the
State by exchange for bonds; 20 provide
for principal and interest OF said bonds;
to establish board of Equidation; to au-
thorize certain judicial proceedings
against il: TO define and punish violations
Of this ac:: 10 prOEibi. certain officers
Giverting funds except as provided by
law, and to punish Violations therefor: 10
levy a continuing tax and provide a con
iiIuing appropriation tor sad bonds; to
make d contract between the State and
holders of said bonds: TO prohibit iniunc
tons in certain cases; 20 limit The indebt
.dness OF the State. and 20 limit State
taxes: to annul certain grants OF State
aid: to prohibit the modification. novation
or extension OF any contract heretofore
made for State aid: 20 provide :or the re
ceipt of certain warrants Tor certain taxes.
and to repeal all conflicting laws.
SECTION l. Be il enacted py tn" Senate
and House OF Representatives OF Tire State
OF Louisiana in Genera. Assembly con.
vened. Tha. fo: 'he purpose oi consolidating
and reducing the floating and bonded debt
OF the State, the Governor. lieutenant Gov.
erEor. Auditor. Treasurer. Secretary %:
State. Speaker o: the House o: Representa-
tives are hereby authorized 20 cause - oe
prepared. and TO issue honds. 70 be known
as ''consolidateG bonds ci the state 81 Louis.
lara" OF the denominations 81 one hundred.
five hundred and one thousand dollars. 70 tne
amount Of fifteen million. o; dollars. or 60
much thereo: SIS may be necessary. all pay.
able forty years from the first day OF Jan
uary. lS1 I. and all - be numoered c0nsec-
utively. and made PAYABLE - bearer. and
10 bear interest at the rate OF seven per
cent per annums payable semi.annuaily.
in the city OF New Io!. and city OF New
Orleans, on the tirs. day o. July and Jan.
Il .r.y,,
:erest shall be annexed thereto: eaiG Ltev-
Is: and principal 10 De payable IA .awiu!
money Of the United States.
SEC. :. BE x further enacted. e:c.. THAI
the parties designated in the fore going SEC.
ton shall. constitute 3 board OF liquidation.
and majority O: said board shall e!ec: .
fiscal agent for Che State. ".o .ha. re d
member of said board.
SEC. ) BE il :urthe. enacted. e.c.. Una:
the bonds authorized by the section one
shall De signed by tho Governor. Auditor
and Secretary o: State. and the coupon,
shall be signed by the Auditor and
Treasurer: and when SO prepare: said
bonds shall be exchar ged by Tie board OF
liquidation for all valid outstanding bond.
OF the State and al! valid warrants drawn
previous 20 The passage CT this act by the
respective Auditors OF Public Accounts OF
the State On the Ire asurer thereof. except
warrants Issued by the Auditor in pay,neB:
of she ccns+itn.iora q, officers Of -he state
a, the rate OF siX.v cents in consolidated
honds for one dollar in cutstanijrr tonds
and all valid warrants: provided. that the
holder of any bond or valid warran. re.
:ected by a majority OF said board NAV ap-
ply by petition 70 the proper cour. ter re.
lief. and il final ;udgmen: shall tie rendered
in his favor against sad board. il sh..! !c
.he iutv of said ;,oar,: :, ,cnt his sa.,
claim in bond. a. tie rate provided bv III.
act: and provided further. ;ha. If any mem.
her of said board Of LIQUIDATION si,2l, know.
;nglv audi. and .unG any ;l.ea! claim
AGAINST the state be shall! be dee,ueL orjItv
of q misiemeanor. and shall. on co.rir.;or
h. fined no. less :ban five -horsand GoIia,.
and he ;morisonpI no, less than two wears
a. the discretion O. tie count. And .nv
re,sop knowingly rrocurin. she SANE. :, ,.e
dome shall; b., sIbiec, 70 The same ,enaI.v.
SEC. !. r.. !, further enacted. etc That
.he exciarpe O. IKE hor1. or valid way.
rant. authorized b. This ac. sian he =.
:ec.ed by said board o: Foundation il: :he
cite. O. New Orleans anc: New Yo:I:.
SEC. >. BE j, further enacted. eye. Tia.
the consolidated bonds herein Authorized
shall be held and used hv said hoard Of
Nnui6ation only for lie pur,,ose 9; e.char 90
as aforesaid: said bond. shall he rsed for ~,
other purpose 0: ,,urposes than as a1.L,r.
lied nv Iii. ac., and any member G. .Le
board IF !inUi.la.ion usiY; or a're,o,r;n, 70
use. or at.einp..n. - induce auv per.on o.
rerson. 20 use. sad i,oud, or any o; .harr
:oy arv other purpose or purpose. shall. on
ony!ction thereof, he ,,unish..; ny a lin.
o. not less than i've .uo,,sanr dollar, an;
BIZ i,nnrison,uea. .. i..:.. ,,.l: :,y no. ,...
III IN Cu. y.a",
SEC. s. BE !. :.r.ila, enacted. etc. That
notice Of the ADOPTION. nj I'm. ac. snail Dc
published, ny s.jI hoard in one o. MOI.
Journals OF New Orleans. New York. I.ar.
don. Paris and Amsterdam.
SEC. :. g.. j. further enacted. ..r Tia.
tax Of five an! !. .a.f mills ON h. dollar
OF .nc assessed vain. o.: all real and ,er.