The New Orleans daily Democrat., 1880-04-12
AN ACT

WILL. A. STRONG,
Secretary OF State.
No. 1O4l AN ACT
Providing for the funding of certain oblIga-
tions; designating n board to fund the
same; prescribing the character Of the
bonds to be Issued therefor, and de-
iining the powers and duties OF said
board; authorizing the procurement of
btanks fttt btoh5 ~ 5id ftottrti, tsfftii tit i
employment of q clerk; creating a board
of examiners; defining their powers and
duties, and authorizing the employment
Of q clerk, providing for the preserva-
tion OF warrants. when funded or. ex.-
changed for certificates: creating fund
for the redemption of the bonds herein
authorized to be issued, and for the pay
ment OF the Interest thereon, when due.
SECTION 1. Be IL enacted bu the General AZ
aembiu Of The State Of Louisiana, That the
Auditor OF Public Accounts, the State Treas
urer and the Attorney General of the State
of Louisiana are hereby constituted a Fund
warrants which they shall find TO be valid
and which are declared to be 80 fund
able by the constitutional ordinance for
the relief OF delinquent taxpayers, and
such obligations OF public charitable
institutions "a are provided for by said ordl-
nance; pFOrided, the same are evidenced by
Judgment, as hereinafter established, In bonds
of the denomination Of five dollars, bearing in
tereSt and payable rs provided In said ordl-
nance. Any two members of said Funding
Board shall constitute n quorum. The ,n-
o,irrpnce OF two members of said Funding
Board shall be required to adopt any motion,
resolution. or proposition made before said
board and to make legal any official action Of
said board said Funding Board shall pro-
ceed. within sixty days IRON the prOmuiga-
tlon of this act, and after thirty days public
advertisement to fund said Auditors war
rants and said obligations of public
charitable institutions into said bonds
as provided by said ordinance; ''pro-
ridcd the face of each five dol
lar bond shall state the number OF the war
rant or certificate and evidence to identity IL
with the warrant or certificate for which
such bond may have been given In exchange"
SEQ 3. Be IL further enacted. ETC.. That no
Auditors warrants ehall be taken as valid
by said Funding Board for the purpose of
funding the same as aforesaid, unless the
same shall have first been examined by
the Auditor, Treasurer and Attorney General
of the State. and lndorsed by them as valid
No obligation of public charitable institu-
tions Of the State, provided for In said or
Board or funded into said bonds, unless the
same shall have first been liquldated and
declared valid by judgment OF court OF
competent Jurisdiction. The said bonds,
with the coupons attached thereto, shall not
exceed In size treasury note OF the United
numbered oonsecutlvely, signed by the Gov
ernor and Treasurer of the State, and be re-
deemable at the pleasure OF the State. ut the
expiration of ak years from January /. 1880.
in lawful money OF the United State ut the
Off Ga of the Treasurer OF the State
SEQ. 3. Be 1t further enacted, etc., That said
Funding Board is hereby authorized to pur
chase and pay for oil books and blanks nee
essarY to carry out the provisions OF said or
dinance and of this act and to employ q clerk
for the necessary time, Mt an annual salary not
TO exceed the sum of twelve hundred dollars 1t
shall be the duty OF said Funding Board to
keep d full and correct record OF all their pro-
and particularly to describe therein
the numbers, dates amounts and character
OF all the Auditors warrants by them funded,
and the numbers and dates Of the bonds
given In exchange for each OF them and to
specify to whom and when Issued.
SEQ. 4. BE u further enacted, ETC., That the
Auditor Treasurer and Attorney General OF
the State are together constituted board OF
examlners, who shall within twenty days
from the promulgation OF this act, and after
public advertisement, proceed to examine
such Auditors warrants as they are author
ised 80 to examine by said ordinance, and
such of them as they shall find valid they
They shall forthwith register. cancel and turn
over to said Funding Board such Auditors
warrants as, after having been examined by
them, Ishall havel been found valid and In
dorsed by them us such, shall have been
exchanged by them for certificates of
the Auditor and Treasurer, as provided
by said ordinance, together with a process
Ucrbdt specifying the numbers dates and
amounts OF the certificates issued In lieu
OF each OF said warrants, and to whom and
said process yerbat to be published and to be
filed In the Office OF the Secretary of State
Said board OF examiners are hereby author
tzed to employ a clerk, for the necessary
time, at an annual salary not to exceed the
sum oftweive hundred dollars, and 1t shall be
their duty to keep full and correct record OF
all their proceedings and particularly to de-
scribe therein the numbers, dates, amounts
and character of all warrants indorsed by
them as valid. such as they shall have re-
jected. All warrants rejected shall be stamped
rejected, and such as they shall have ex-
changed for certificates; when and by whom
presented for examination and to whom they
have delivered such as they have indor5ed as
valid.
1t shall be the duty OF the Funding Board
to deposit In the Office of the State Treasurer
all warrants which may come into the posses
sion OF said board, under this act which shall
be preserved In the archives of his office by
the State Treasurer, In the same manner as
the State warrants which have been paid by
the State Treasurer. The face OF the certiti-
Gates issued shall state the numbers of the
warrants for which the certificates were given.
Said Funding Board shall cause to be filed In
the office of the Secretary Of State process
verbal enumerating and describing all war
rants by them deposited In the office of the
State Treasurer; and the Secretary Of State
shall cause said process verbal to be published
In the official journal.
SEQ. 8. Be ii further enacted etc., That
no warrant shall be fundable or receivable
for taxes or exchanged for certificates unless
bearing date subsequent to the first day Of
j January, A. d. 1875, except as otherwise pro-
vided for in the constitution of the State, and
at the date of the adoption there
of; provided, this shall not apply to war;
rants to be issued by the Levee Company,
which shall be received and provided for as
they are directed by said constitutional ordi-
nance to be received.
r. N. OGDEN,
Speaker OF the House OF Representatives.
s. D. 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,
Secretary OF State.