The Greenville times. [volume] (Greenville, Miss.) 1868-1917, 1886-04-03

WHEREAS, Emergencies may arise, making it neees-
sary for the maintenance of its evees and the protection
of It's District that the Board of Mississippi Leyee Com
mssiOners be enabled to speedily raise funds in addition
to those derived from its annual revenues; therefore,
Section l. Be it enacted by the Legislature of the
State of Mississippi That the Board of Mississippi Levee
Commissioners be and is hereby authorized and empow-
ered such times may deem proper and necessary
and for the best interests of its District to to be
prepared and to issue, negotiate SELL such terms
it may think best the bonds of said board Tor such amount
or amounts as said Board may, from time time deem
necessary not TO exceed IN the aggregate the sum OF two
hundred and fifty thousand dollars
Sec. 2. Be it further enacted That the bonds to be
ssued as aforesaid shall be made payable bearer and
shall bear interest at rate to be fixed and determined by
said Board and embodied in its order directing the issu-
ance OF said bonds any part thereof to exceed the
rate of interest allowed to be contracted for by the gen.
era laws of the State of Mississippi for which inter.
est coupons shall be attached, payable semi annually;
they shall be signed by the president of said Board aud
countersgned by the secretary but the signature to the
coupons may be fac smie engraving, and said bonds
shall be made payable at the option Of said board any
time after the expiration of five years from the date
thereof and certainly at the expiration Of thirty years
from the date thereof
See. 3. That the bonds to be issued as aforesaid
shall be in of not less than hundred dollars,
more than five thousand dollars each and shall be num-
bered from one progressively aud shall be in the follow
ing form, viz
8 Mississippi Levee District, Mo-
State of Mississippi
Know all Men by these Presents:
That the Board of Mississippi Levee Commissioners
WILL thirty years after the date hereof at the option
OF SAID Board ut time after the OF hve
years from the date hereof pay Mt the Office of the
urer of said Board, TO bearer the of - dollars,
with interest thereon at the rate of - per cent. per
annum, payable semianDuay presentation and sur.
render at the Office of said treasurer OF the coupons here
to attached they shall sevealy fall due The interest
hereby agreed to be paid has been fixed aud determined
by said Board aud embodied in its order directing the
issuance of this boud.
Issued by virtue of Act of the Legislature of the
State of Mississippi, entitled AN Act TO repeal tie au-
hority of the Board of Mississippi Levee Commissioners
to S5U0OO0 of its bonds and to authorize
S25O,0O0 of its bonds"
Approved - A. d., 1886: In witness whereof
the signatures Of the president and secretary of the
Board of Mississippi Levee Commissioners hereunto
affixed, and the seal of the said Board of Mississippi
Levee Commissioners is hereunto attached this - day
Sec. A. That said Board may at any time cause said
bonds to be Autographed engraved, with such devices
for identification TO prevent imitation may be
ry and held by its for signature and issuance
when the shall be ordered and said treasurer shall
register said bonds in book to be kept for that purpose
as the same are issued stating therein the number of
each bond issued, the date of it's issue and to whom de-
lvered and he shall take the receipt said book of the
party to whom each of said bonds is delivered
Sec. 8 That it shall be lawful for said Board at any
time after the expiration of five years from date of said
bonds to be issued under this Act to call in and pay of
the same any part thereof in the following manner:
Said Board shall cause notice to be published In some
newspaper published at the county site of the county of
Washington, State of Mississippi, if newspaper
should be published at such county site, then in some
newspaper published at the State capital of said State
designating by their number aud amount the bonds called
in and the day which they to be presented to the
treasurer OF said Board at his Office for payment which
said notice shall be published at least once in each week
for three consecutive weeks prior to the day designated
therein for payment of said bonds and the bonds called
in shall he those lowest in number then oustandng and
it shall be the duty of the holder holders of said bond
bonds, designated in said notice. to present them on
the day designated for payments and shall be the duty
of the of said Board said designated day, to
pay off aud discharge the bond bonds presented
paying the principal thereof and the interest accrued up
to that date in full and to take up aud cancel the bond
or bonds so paid off, with all maured and unmatured
coupons of interest belonging to the same, and to enter
upon bis regsteof bonds minute of his proceedings in
regard to the payment of said bond or bonds, stating
therein to whom such payment was made. All interest
shall to upon any of said bonds designated
in the notice herenbefore provided and called in there
by from the date at which they are required to be pre-
seDted for payment and all coupons for interest maturing
after such date shall become void, except to much
thereof may have accrued up to the date at which said
bonds are REQUIRED to be presented for payment
Sec g. That the tax levied and assessed by section
two of an Act entitled "An Act to amend an Act entitled
Act to incorporate the Board of Levee Commissioners
for the counties of Bolivar, Washington and Issaquena
and for other purposes approved November 27th 1865
and the several Acts amendaory hereto approved jan
uary 21h 1871 except much thereof as taxes cotton
seed and all other taxes levied and assessed by laws
in force pertaining TO the Board of Mississippi Levee
Commissioners, the Mississippi Levee District, shall
be- and hereby constituted fund for the payment of
the bonds authorized to be issued under this Act in add
ton to the purposes for which said taxes levied and
assessed by said section two of said Act approved Janu
airy 2tb 1871 and the acts subsequent here0 and said
taxes snail continue and remain as levied ana assessed
by said section two and Acts subsequent thereto until
all of the bonds which may be issued under the prOvs
ions of this Act shall have been fully paid Provided,
That nothing herein contained shall abridge impair the
power and discretion conferred upon said Board of Mis-
sisspp Levee Commissioners by section three of said
Act approved January 9th, 1877, and acts subsequent
thereto except provided in the next section of this
Act
Sec. Z. That the corporate existence of said Board
of Mississippi Leyee Commissioners shall continue until
all of its bonds, debts and obligations outstanding or
existing, which may hereafter be issued, contracted
incurred shall have been paid off and extngushed. and
thereafter until the is terminated by the Legislature
of Missssppi and in event shall the tax assessed
by law be reduced below oneeghth of cent pound
lint cotton, and propOronate amount on seed cot.
ton, until all of the bonds. with accrued interest," which
have heretofore been hereafter may be issued by said
Board under authority of law, shall have been fully paid
off and extingushed; and whenever and so long said
Board shall have any of its bonds outstanding and unpaid
then the derived by SAID Board the