The New Orleans daily Democrat., 1880-04-13
THE NEW ORLEANS DEMOCRAT TUESDAY APRIL 49, 1890

printed sufficient number Of new bonds OF
the denomination OF five dollars, one hundred
dollars, live hundred dollars and one thou
| sand dollars, each demon mination to consti.
tuta separate series, lettered, respectively,
A. b. @ and ID, and each series numbered CON
seotlVely, beginning with one, bearing four
per cent per annum interest, from January
hrst, A. u: eighteen hundred and eighty, and
having attached thereto interest coupons
each OF said coupons on each of said bonds
shall be for six months interest on the amount
OF the bond to which It Ia attached, and ono
coupon on each of said bonds shall be pay
able on the first day of July and on the first
day OF january OF each year from the first
day OF July. 1880, to the first day OF January,
1914, both inclusive, The principal of said
bonds shall fell due on the first day of Jan
uary. A. ID. 1914. Said new issue of bonds
shall be signed by the Governor and State
treasurer shall be payable to bearer, and
shall bear the date of the approval OF this
act and they shall be designated as the con-
stitutional bonds of the State Of Louisiana"
Governor shall cause said bonds to be delv-
cred to the State Treasurer, through the Aud.
itOr, to exchange for the consolidated bonds
OF the State OF Louisiana, when surrendered
by the holders thereof. and the Auditor shall
charge the Treasurer with the said new bonds
so delivered to him.
SEC. 5. Bet further enacted, etc, That II the
holder OF any consolidated bond or bonds OF
the State OF Louieana applies to the State
treasurer for exchange OF bonds and surren-
ders his consolidated bonds TO the State
Treasurer, with the interest coupons thereon
or which had been attached thereto, which
fell due January l, $780, and all coupons falling
due subsequently, tho State Treasurer shall
issue to said holder said new bonds. In such
denominations aS he may request, at the rate
OF seventy-tive cents OF the new bonds for
each dollar OF the principal of said consol-
dated bonds surrendered to the Treasurer.
And the Treasurer before delivering said
new bond or bonds, shall designate In blank,
TO be Kept for that purpose, on the face there
OF the number OF the old consolidated bond or
bonds for which said new bond or bonds were
given In exchange.
SEQ, O. Be 1t further enacted. etc, That any
holder OF said consolidated bond or bonds
may, at any time, present his bond or bonds
to the State Treasurer or to either OF said
bond agents, and the said Treasurer or the
said agent to whom presented. as the case
may be, shall stamp each consolidated bond
with the stamp furnished him by the Gov
ernor. after fret detachiDg from said bond
the coupon which fell due on the first day Of
January. 1880. No bond shall be stamped
until the said January coupon shall have
been surrendered to the Treasurer or agent.
SEC Z. Be ii further enacted etc. That the
State Treasurer and each OF said bond agents
shall make to the Auditor Of Public Accounts
report, at the end OF each quarter, showing
the numbers and denominations of all the
consolidated bonds stamped as aforesaid, and
the names and residences of the persons pre-
senting same TO be stamped and with said re-
port shall forward to the Auditor the said
January coupons surrendered to them rs
aforesaid, duly cancelled by them. The State
Treasurer, at the end of each quarter, shall
also makea report to the Auditor. showing
the numbers and denominations of all con-
solidated bonds exchanged, and the numbers
and denominations of all the new bonds issued
in exchange therefor, and the names and resi-
dences OF the persons to whom issued, which
said report shall be accompanied by the con-
solidated bonds and coupons surrendered to
the Treasurer in exchange for the new bonds
as aforesaid, which shall constitute his
vouchers for the new bonds issued by him
The Auditor shall give his receipt to the
Treasurer and the bond agents for all the old
bonds and coupons received from them re-
spectively, and shall retain the same In his
possession until destroyed, as hereinafter
provided.
Governor shall furnish to the State Treas
urer, q large stamp having on 1t the words
Cancelled, by the issue OF new bonds under
the ordinance OF the constitution relative to
the State debt And the Treasurer shall
stamp same upon each consolidated bond as
soon as 1t Ia surrendered to him.
SEC. 9. Bet further enQcted, etc. That the
Governor, the Lieutenant Governor and the
Speaker OF the House OF Representatives, or
any two OF them, shall meet In the AUDITORS
ulhce va kodonau uoy M LoAo pI pIeevulns 1iie Secouu
Monday In May, 1882, and biennially there
after. and shall then cause to be burnt all
bonds and coupons which shall |
have been surrendered under this act. They
shall draw q process verbal OF the same, CIV
ing denominations and numbers OF each bond
burnt, and the same shall be laid before the
General Assembly, accompanying the mess-
age of the Governor.
SEQ. TO- BE IL further enacted, etc., That all
parts Of laws which conflict with or are con-
trary to this act are hereby repealed.
X. N. OGDEN,
Speaker OF the House of Representatives..
S. ID. MCENERY,
Lieutenant Governor and President of the
Senate,
Approved April 10, 1880.
LOUIS A. WILTz,
Governor of the State of Louisiana.
A true copy:
WILL. A. STRONG,
Of fofn