New Iberia enterprise. (New Iberia, La.) 1885-1902, 1900-09-29
Call for Election by the Iberia &
st. Nary Drainage District.

t.5
properly qualified electors Of the iberia st.
Mary Drainage District will be held on the
9th bay OF OCTOBER. 1900,
n vote for the acceptance or rejection OF the prop
Commissioners OF the Iberia & st. Mary Drainage
District. passed August 23d, 1900, and being as
"Bc il resoi.sd by the Iberia & st. Mary Drain.
age District that
Whereas, this Board now exists by reorgani1a.
Acts Of the Legislature of this State for the year
1900, and
tracts and debts of the old Board known as the
iberia and ST. Mary Drainage District, organized
under Act AZ, 1898, and
Whereas the old Board had submitted to the
voters Of the Drainage District proposition to
incur an indebtedness of Thirty Thousand Dol
lars $3.50, 900. .00l, and to levy tax OF five l5l
mills on the dollar f. Pay ns snd 10
bearing bonds TO represent the said Indebtedness,
which said proposition was accepted by the voters
Whereas said bonds, although authorized, have
never been issued and
Whereas il is necessary to increase the amount
of indebtedness and the bond issue In order to DO
the necessary drainage work in the said District,
Whereas, the Thirty Thousand Dollars $3.50,
OOO. .OO) Of bonds authorized to be issued do not
reach the constitutional limit, the assessed value
Of said District being In excess of One Million Dol
lars, Isl 900, ,0oOO0l
u
Of the qualified electors under the constitution
and laws OF Louisiana Of the said iberia u St.
Mary Drainage District on I've Tnesdsy, the Ssh gay
tion in the official journals of Iberia and St. Mary
parishes for q period Of thirty days, az required
BY law. to take the census OF the saia propeiisS
are hereby submitted to the said taxpayers at said
election, namely:
Thousand Dollars ($lOO 600 OO). for the purpose
Of constructing system of drainage for the Iberia
q 81. Mary Drainage District, which indebtedness
Is to consist Of the OF the deos ho
1890, OF Thirty Thousand Dollars ($SO, ,OOOoO),
and an additional indebtedness of Seventy Thou
sand Dollars $50 OOO,O0l
ID 10 authorize the iberia 4 St. Mary Drainage
District to issue One Hundred Thousand Dollars,
(%lOO 600 OO) Of thirty year Ave % per cent In
OF One Thousand Dollars {sl 10000, each, and
numbered from one "a to one hundred tlOO) re.
spectively, to represent the said indebtedness SO OF
One Hundred Thousand Dollars ($lOOOOOOOl,
which shall consist Of ratification Of the author
nation granted by the taxpayers of the old Dis.
trict on the 2sth day of October, 1900, of Thirty
Thousand Dollars $3.50, ,OOO.OOj Of such bonds,
which have never been issued, and the issuance
OF an additional Seventy Thousand Dollars, ($7O,.
OOO.OO). which together shall constitute y bond ,
600 OO), TO be ofone series. Interest on the said
bonds shall be paid annually. The Drainage Dis.
trict shall retire after Ave 90 years from their Is
susnce Four Thousand Dollars OF the said bonds
annually, to be selected by lot or chance. The
Drninace District to have the option after Ave (5)
years, Of retiring greater amount than -Four
10 bc compellcd TO retire At least that amount and
70 set aside each year funds for that purpose.
sd. TO authorize the iberia and st. Mary Drain
:s susss. 70 State taxation Within the
Drainage District, said tax to run for period Of
thirty years. This TO be ratification OF the fys
district ON the 2sth day OF October. 1899, and an
extension Of the same for thirty years from the
date Of the levying Of the first tax under this eec
tion and Its extension to affect all property sub
iees 70 STATE taxation within the said Drainags
said tax shall be applied in the order follow
let. For the payment Of interest on the bonds
"a. Necessary running expenses, maintenance
Of system and improvements
I'd. Balance for general sinking fund.
After the Arst fve years.
. lst For the payment Of interest on the bonds
"a. -Four Thousand Dollars ~, 10000, per an
num for sinking fund TO retire the bonds.
The remainder Of the funds realized by the sale
pralnagc Board shall be applied to necessary run
nine sxpenses. maintensnce and operation, for az
revction Of the rate OF taxation, for the extcn
sion or bettcrmcnt Of said works, provided n
expcusliture for the running expenses, purchase
::
~ amount Of the fund ON hand for such publ
vcrks nor reduce said fund below sum to NEE
- interest payment e essoms due N me ne mex mex
- ssid sisesson shall Be held throughout said Di.
s - s,s'6 y ibsss ss,ss sS s',ss: II,
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v2rS MI sscre. Olivier station.
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