The St. Mary banner., 1903-02-21

franchise; fourth, for the fourth
ten years of the existence of said
franchise, and in like manner
separately a portion of said gross
receipts to be given for each sub.
sequent period of ten years, dur.
ing the existence of said franchise.
except the last which shall be for
a period of nine years.
Sec. 5. Be it further resolved,
ETC., that the sum of 500 in cash.
or certified check for that amount
shall be deposited with the presi.
dent of the police jury by the sue.
cessful bidder at the moment of
adjudication on the 18th day cf
March, 1908, the date of sale, which
S1OO shall be forfeited to the par
ish, unless within four months
from the sale, the successful bid.
der shall accept by public act, be.
fore any competent notary public,
the term of this ordinance. in
which event the said 500 shall be
returned to the successful bidder,
upon his entering into said con.
tract in which he shall agree to
undertake to commence the con.
struction of the railroad herein
contemplated, within eight months
from the date of the signing Of
said contract, and to complete the
whole and entire line herein pro.
vided for, within two years from
the expiration of the said eight
months, and shall give bond for
security, approved by the presi.
dent OF the police jury, in the sum
of $1,000, conditioned upon the
full and faithful performance Of
the said undertaking and contract,
And in the event the bidder fails
to make the deposit of 500 In
cash, or certified checd, as herein
provided for, at the moment Of
adjudication, then the president
OF the police jury, at once and
further formality shall re-.
offer for sale the said franchise,
and shall adjudicate the same 10
the last and highest bidder, who
does make the required deposits.
And in the event the successful
bidder shall fail to enter into con.
tract, as herein above provided,
within the time stated, the same
shall be forfeited to the parish.
and the franchise shall cease to
exist, and all the rights of the
bidder ipso facto ceased and bo
forfeited without any other for
nality whatever.
Sec. 6. Be it further resolved.
Etc., that the holder or holders OF
his franchise shall have tho right
% transfer and assign the Same
put without expense to the parish.
Sec. Z. Be it further resolved
hat in the event of war, pestil.
:nce, epidemic, strikes, panlcs, or
public calamities, then and IN that
went, the holder or holders Of this
are to be allowed the
ime consumed by such calamity,
md shall not be considered as
laving failed as relates to this
ontract. provided the said above
lamed calamities in any manner
fleet the carrying on of the work
erein.
Sec. s Be it further resolved.
tc., that in constructing the said
as herein provided the
older or holders of this franchise
hall have the right to leave the
ublic road at any place where
here shall be crossings or bends
same, shall not be required to
uild said road along said public
Dad at such point, but shall be
lowed, as above stated, to build
aid railroad across the arch of
lid bends or crosses in order to
i've time and make the road
1orter.
Sec. 8. Be it further resolved,
c., that the successful bidder or
ldders shall pay all costs incl
ent to the sale of said franchise.
JOHN M. IBERr,
President of the Police Jury.
lice Police Jury, franklin, La,
February 8, 1908.