The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1882-04-26

- ia i no guaIulan. the r1gnf OF
way Tor any public levee proposed 10 be
omlt, II they deem such purchase more ad-
VantageouS than n proceeding Of condemua-
uon, ana the deed or contract of such omar
dlan, executor or administrator shall con
Fey the title OF said minor or persons not
SUI JurlSa as fully as if executed bv n person
OF lull age: n said guardian. executor or
administrator shall be accountable on his
bond TO the parties in interest for the
money so received by him.
SEC. 9. Be a fIrtber enacted. That he
Board of Mississippi Levee Commissioners
Is hereby authorized and empowered. at such
time or times, during the years 1882 and
1888, but not after the year 1888. rs il NAV
deem proper and necessary. for the purpose
OF repairing, strengthening and construct
ing the leveeS of its district. to cause to be
prepared. and to issue, negotiate or sell the
bonds of said board, for such amount or
amounts as said board may from time TO
time, deem necessary, not to exceed in the
aggregate, the sum Of two hundred thousand
dollars preceded. that said bonds shall not
be sold, pledged or used in aymen of
labor, ut n greater rate of discount than ten
per cent off their face value.
SEC. 10. BE Il further enacted. That the
bonds to be issued as aforesaid shall be made
payable to bearer. shall bear interest at
the rate of ten per cent. per annum, for
hHlNn SdN1 IllCAtSt NUuIbAlN Snstil NC dL-
taohed. PAYABLE annually they shall be
signed by the President of said board, and
countersigned by the Secretary. but the
signature to the coupons may be a fac
mil engraving. and said bonds. or any
part thereof, shall be payable at the option
of said board, at any time after the eXpira-
ton of one year from the dale thereof, and
certainly at the expiration of seven years
from the date thereof.
S-n-11 ., - I'll --y M. IL
bonds to be issued as aforesaid, shall be in
sums of not less than 500 or more than
$1,000 each, and shall be numbered from one
progressively, and shall be in the following
form, viz:
) MISSISSIPPI LEYEE DISTRICT. No
STATE OF MISSISSIPPI.
Know all men by these presents That the
Board Of Mississippi Levee Commissioners,
will, seven years after the date hereof, or at
the option of said board, ut any time after
the expiration Of one year from the date
hereof, pay at the Office of the treasurer of
said board in Greenville. Mississippi, to
bearer, the sum of - dollars, with in
terest thereon, at the rate of ten per cent
per annum, payable annually on presenta-
ton and surrender at the Office of said
treasurer of the coupons hereto attached,
as they shall severally fall due. Issued by
virtue of an Act of the Legislature of the
State of Mississippi, entitled an act to more
effectually protect the public levees in the
Mississippi levee district, and amenda-
tory of the laws pertaining to said district,
and for other purposes, approved -, a. D.,
1882.
In witness whereof, the signature of the
president and secretary of the board of Mis-
sissippi levee commissioners is hereUnto
made, and the seal of the said board of
Mississippi levee commissioners is h%ereunto
attached. this - day -. A. d. 1873.
SEC. II. BE 1t FURTHER eoqcted, That the
secretary of said board shall upon the order
of said board, cause said bonds to be litho-
graphed with such devices for Identification,
and to prevent imitation as said secretary
shall think proper, and he shall register
said bonds, in a book to be kept for that
purpose, as the same are issued, stating
therein, the number of each bond issued,
the date of issue, and to whom delivered,
and he shall take the receipt in said book of
the party to whom each Of said bonds is de-
livered.
SEC. IS. Be IL FURTHER etdcted, That it
shall be lawful for said board at any time
after the expiration of one year from the
date of said bonds to be issued under this
act, to call in and pay off the same or any
part thereof, in the following manner:
Whenever said board shall be in condition
to pay off any of said bonds, and shall deem
it proper so to do, it shall cause a>notice to
be published in some newspaper. published
in the county Of Washington, State of Mis-
sissippi, designating by their number and
amount, the bonds called in, and the day on
which they are TO be presented to the treas
urer of said board at his office for payment,
which said notice shall be published for
three consecutive weeks, prior to the day
designated therein for payment Of said
bonds, and the bonds called in shall be
those lowest in number then outstanding
and it shall be the duty of the holder or
holders Of said bond or bonds designated
in said notice to present them on the day
designated for payment, and 1t shall be the
duty of the treasurer Of said board on said
designated day, to pay off and discharge
the bond or bonds so presented, paying the
principal thereof, and the interest accrued
up to that day in full. and to take up and
cancel the bond or bonds so paid off with
all matured and unmatured coupons of in
terest belonging to the same, and to enter
upon his register Of bonds, a minute Of his
proceedings in regard to the payment OF
said bond or bonds, stating therein to whom
such payment was made and all interest
shall cease to accrue upon any cfsaid bond
designated in the notice hereinbefOre pres
cribed and called in thereby from the date
at which they are required to be presented
for payment, and all coupons for interest
maturing after such date, shall be and be
come void, except as to so much thereof a:
may have accrued up to the date at which
said bonds are required to be presented fo
payment.
SEC. IA. Be it further eaacted, That the
tax levied and assessed by section ?, of al
act entitled an act to amend an act entitled
an act to incorporate the board of leyet
commissioners for the counties Of Bolivar
Washington and Issaquena, and for othe
purposes, approved November q, 1865, anC
the several amendments thereto, approved
January p, 1877, except so much thereo
as has heretofore been repealed, shall be am
is hereby constituted a fund for the paymen
Of the bonds to be issued under the provis
ions of this act, in addition to the purposes
for which said tax is levied and assessed BY
said section ?, and said tax shall %continu
and remain as levied by said section ?, unit
all of the bonds issued under the provisions
of this act shall have been paid: peOoi led