The weekly Iberian. (New Iberia, La.) 1894-1946, 1905-12-30
FOR SALE
New Iberia Southern
Drainage District Beard


Sixty thousand dollars Of nesO
table. five per cent interest bear.
ing bonds, Of the par value of one
hundred dollars each redeemable
in ten twenty-five years,at not less
than par, on the following cOndi-
tons and stipulations, to wit:
FIRST: That the New Iberia
Southern Drainage District, its
successors or assigns, will contract
or issue against aud make payable
out Of the proceeds of the special
three.mill tax collected or to be
collected in future years during
the term of the said bond issue, no
bonds or indebtedness other than
the Sixty Thousand Dollar bond
issue and Indebtedness already
provided for and author lied by
the resolution Of this board of
date May II, 1904, as amended 10y
resolution of December Goth, 1905
Second; That the purchaser of
said bonds will be entitled to re.
ceive all interest accrued or accru-
ing on said bonds on and after the
25tlI day of April, 1905; tho cou
pons representing the interest due
July LIST, 1906, and all prior cou
pons, if any, to be detached FROM
said bonds and cancelled before
delivery of the bonds, and the pur
chaser Of said bonds to be entitled
to and to receive the pro rata OF
said interest coupons representing
the interest earned from the 25tl
day Of April, 1905, to the first da,
Of July, 1906.
Third: That the New Ibelis
Southern Drainage District, in ac
cordance with the second and hire
sections Of the proposition submit
ed to the property tax payers oI
said district on tho 23d day of Feb
ruary, 1904, shall, for period o.
ten years, beginning on the frs
day Of Jniy, 1904, set aside annu
ally as a general sinking funt
Tor the payment of said bonds, al
amount not less than Fifteen Hun
bred Dollars in cash, and shall
after the first ten years from The
date of issuance of said bonds, and
until their final maturity or retire
ment, set aside annually not less
than Four Thousand Dollars for Q
sinking fund forthc payment and
retirement of said bonds, said pay
ments annually into said sinking
funds 10 be made out Of the pro-
ceeds realized from the levy and
collectian-of the special three mil
tax, after the payment therefrom
Of the annual interest on said
bonds.
Fourth: That the New Iberia,
Southern Drainage District, in ad
dition to complying with the pro.
position submitted to the tax paw.
ers at the election aforesaid, rela
tive to the application of the an.
nual tax to the payment of the in
terest on said bonds and to the
sinking funds for the pay ment OF
principal Of said bonds, shall, in
the manner, to the purposes and
the preferences required by law, set
aside and dedicate annually such
funds, derived from sources other
than the special tax aforesaid, as
the law, aud particularly Act No.
lao of 1902, requires should be set
aside and dedicated as aforesaid.
Fifth: The New Iberia Southern
Drainage District agrees to deposit
in any institution or instit1tions
doing u general banking, trust and
savings bank business, orseither,
selected and designated by the
purchaser of said bonds, and 10,
Gated either in the city Ut New
iberia or in the city Of New Or
leans, the solvency of which instr
tulion shall be established, the
funds hereinafter designated un
der subdivisions (a) (b) and (c) Of
this section, said funds to remain
OH deposit during the life Of said
bonds and Of said tax:
(a) The proceeds realized fcom
the issuance and sale of the $50,