The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1899-02-23
TOWN COUNCIL PROCEEDINGS
Lake Providence, La, Feb. 20, 1899.

Lake Providence, La, Feb. 20, $780,
The Hon. Mayor and Board of Alder.
men met this eve at 8 o'clock pursuant
TO adjournment, for the purpose OF
taking up the unfinished business OF
the regular session of the Board.
Present-Hon. e. NJ Franklin, Mayor
D. w. Gllmour. Secretary; Aldermen
, Chas. R. Egelly. james Beard, N
Fousse and K. l.. Hill.
Absent-Ald. V. M. Purdy.
On motion of Aid. Hill. the following
Ordinance was read and adopted, to.
wit:
An ordinance providing for contracting
debt of seventeen thousand five hundred
dollars and issuing negotiable bonds
therefor. each for the sum of five hundred
dollars. bearing five per centum per annum
interest, to be known aud designated as
providence Water Works and Light
Bonds" and leyying an annual property
ed valuation Of the property in the town
of Providence during the period of forty
years for the payment of the interest and
principal of said bonds.
SECTION l. Be it ordained by the Mayor
and Councilmen of the Town of Provi-
dence. State of Louisiana, That, acting
under and by virtue OF the power and au-
thority grauted by the property Taxpayers
of said town of Providence at special
election held in SAID town on December 10.
1893, in accordance with Article 22l of the
Constitution Ofthe State OF louisiana the
returns of which election We're duly can
vassed and promulgated in January, 1899,
they hereby authorize the Mayor and
Councilman eff the Municipality to contract
81 a1,t ,fc !,
dollars (S17.500). and to issue in evidence
thereof series of thirty-five (35) negoti-
able coupon bonds OF this municipality,
of the denomination of five hundred dol
lars each, making an aggregate amount of
1900 seventeen thousand five hundred
dollars. for the purpose of paying for the
putting in, erection and construction of a
combined water works and light system
for this municipality; which said bonds
shall be consecutively numbered from one
to thirty-fve inclusive; shall be known and
designated as the providence Water
Works and Light Bonds;'' shall bear date
of the first day of April A. ID. (iS99). eigh-
teen hundred and ninety-nine; shall stip-
ulate interest thereon at the rate of FIVE per
centum per annum from date, payable semi
annually on the first day of April and
October each year; shall mature in forty
years from date with the option in the
Municipality of calling and redeeming any
portion, or all, thereof after a lapse OF
twenty years;--shall be payable in principal
and interest in gold coin of the United
States of America of the present standard
weight and fineness at the Merchants Ma
tional Bank s-Of Vicksburg, Mississippi:
and shall be signed by the Mayor and at
tested by the Secretary of the town with
the corporate seal attached.
Sec 2. Be it further ordained, etc.. That
in accordance with the further authority
granted by the taxpayers at the aforesaid
election of December Is, 1898. special
property tax of five mills on the dollar of
the assessed valuation of all the property
in the corporate limits of the town of Provi-
dence subject to taxation is hereby levied
for period of forty years, which tax is for
the purpose of paying the interest and
of the bonds aforesaid and same
is hereby levied for the current year (1S99)
eighteen hundred and ninety-nine, and for
each of the succeeding thirty-nine years;
and it shall be collected in the same man.
ner as is now provided by law for the col
lection of ordinary taxes.
Sec 3. Be 1t further ordained, ETC.. That
the Mayor of the town is hereby author
lied to dispose of said bonds at reason
able compensation for his or it's SER
vices, or TO give said bonds in payment
Tor a combined water works and light sys-
.em for the town as may be deemed best:
hereof, shall not be used for any purpose |
Except to put in, construct and equip a |
water works and light system for |
he town of Providence
Sec. 4. Be it further ordained, etc., That |
he special fund hereby created.shall not be |
lrawD upon or expended otherwise than in
payment of the interest and principal of
aid bonds, until they have been paid and /
ettled ia full.
Sec. 5. Be it further ordained, etc., That
his ordinance shall take effect from and
fter it's passage. and that all ordinances in
onfict herewith are hereby repealed
Passed and approved this 18th day OF
'ebruary, 1899.
On motion of Aid. Foussc. the fol-
owing Ordinance was read and
dopted. to-wit:
An ordinance providing for the redempt-
IN of the "Providence Water Works and
light Bands and increasing the special
ind heretofore provided Tor that purpose.
Section l. Be it ordained by the Mayor
I'D C0uncilmen of the TowB of Pr0vi-
ence, La. That for the purpose of making
Ie special fund Of five mills per apnum for
rty years heretofore provided for the
lyment Of the interest and principal of thel
Providence Water Works and Light
Dnds's sufficient TO pay said interest and
AXE redemption Of said bonds. there be
ID is hereby set aside out of the ordinary
venues of tie town of Providence, inclu-j
We OF the income from lease or sale OF
ater and lights, the sum of two hundred
d fty dollars per year for ten years be-
inning with the year 1899 and ending with
e year 1908 inclusive. and the further sum
i've hundred dollars per year for thirty
a ar, beginning with the year 1909 and
ding with the year 1888 inclusive.
Sec. 2. Be it further ordained. etc. That
E above provided sums additional to the
d special fund shall be set aside out oil