The weekly Thibodaux sentinel and journal of the 8th Senatorial District. [volume] (Thibodaux, Lna. [i.e. La.]) 1875-1898, 1876-07-15
Ordinance No &c


RetGhrc To the Thib1GuHr amt Tp3Trbogs,
Drdh3dge and Ndtig0ti0n ComgaRg.
Section J. BE it ordained hv The Mayo,
and Council OF the Town of Thibodauy in
regular assembly convened that the Maven
OF sad Town be aud he is hereby authorized,
III the name of said Town to subscribe to
Seven Hundred shares Of Ten Dollars each
III the capital stock of the IAibodonr ana
ief7c6oAne Drainage and Ndyigation Com
paay.
Sec :. BE it further ordained that in
order to pay for amount of said shares that
bonds OF SAID Town shall ne issued. Sioued
by the Mayor and countersigned by the
SECRETARY OF the Town. in amounts of Five
hundred ioiltrs each, bearing eiollt per
cent per annuin interest from date and BAY
aole SEM annually not more than two bonds
the following form
500. STATE OF Lor1srx, No
SNOW al men by these presents that the
Town OF Ihlboaaux acknowledges itself In
debtedto the IhiboRdur &C. Iciyeboane D,0j
naJe Gnd Adrigation 90. in the sum OF five
Hundred Dollars. which sum the said Town
promises TO pay III current money, of the
United States to the order OF said Company
lil-montliS from date hereof with interest
from date.
hecret4'y Mayor
1cWn OF IhIbodauX--lS1-
See ). BE 1t further ordained that in ord ar
TO facilitate henegotiation of said bonds and
to secure the puuctual payment of said
bonds III principal and interest. the Mavor
OF the ioWn is hereby authorized to pledge
an the shares ofstock owned by said Town
llthe 1hibod0ur Biidge ComDQug. and the
pledge is hereby authorized TO rgcciy, tht.
ullldelidS on the shares so pledged, proyi-
ded the amount of dividends as fast MS re-
ceived shall! be credited on the bonds first
maturing, and shall be so credited on the
ponds as they successfully mature:
See. 4. BE it further ordained that as a
lhfthcr security for the punctual payment
oi SAID bonds III principal and interest. a
special tax OF not more than one half OF one
per cent be and is hereby levied on All tine
landed estate situated within the ~,ornorate
limits OF the Tow OF ThibodauX beinn
Well intended, however. that the Collector
~ in'thlcipal taxes shall only collect said tax
uullll9 st!cl years When the dividends on
the hilGSr stock shall he insufficient To meet
thc luii payment OF bonds as they mature.
Il IN any year when the dividends of
the bf1u@e stock are sufficient to punctually
meet the payment OF the bonds as they MA |
tofe, III principal and interest, that for any
such year the tax hereby levied is RENTED
and shall not be eollectable.
Sec. BE it further ordained that the
present ordnance he submitted for appro-
va OF rejection at an election OF The voters
on whose property the tax aforesaid is le-
yea, SAID election to be advertised bv the
Way during thirty days and to be held
M .hG once OF the Mayor on Saturday, Au-
Susl l<,h 1870, between the honrs OF 8 A..
ana D r: NJ, said election to be presided
oFef by Z. L. Lorio, NJ. a. lie sendre aud j.
commissioners hereby appointed
Iof me purpose, who shall first be sworn to
their duties faithfully and honest
- SAID commissioners are to be furnished
~ 'h7 town Constable with q list of the
'olefS qnahfied to vote at said election.
approved and adopted this Fifth dav of
,aly a: y: Eighteen Hundred and Seventy
Six 1876.
+. E.LORiO, NJ. L. HIGGINBOTHAI
mayor. Secretary.
A true copy from the minutes.
IL. /. ~HICGINBoTHAM, Secretary