New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1905-12-23

ID To authorize the Petite Anse Coteau Drain
| age District to issue Fifty Five Thousand Dollars
of forty year five per cent interest bearing bond
| of the face value of Two Hundred and Fifty Dol
| lars each, and numbered from one to two hundred
| and twenty nclusivey to represent said indebt
edness of Fifty Five Thousand Dollars. Interes
| on all of said bonds to be paid annually each bono
| to bear the same date, and the interest to com
| mence to run same trom the date thereof. TIL,
| said Petite Anse CoteaH Drainage District shall
| pay and retire at the end of five years from the
| date of their issuance ten of said bonds aggrega
| ting Two Thousand Five Hundred Dollars.
During the next five years it shall pay and re
| tire annually three Of said bonds. aggregatins
Seven Hundred and III ty Dollars.
During the next five years is shall pay and re
tire annually four of said bonds, aggregating One
| Thousand Dollars
During the next five wears it shall pay and re
! tire annually five of said bonds aggregatins
Twelve Hundred and Fifty Dollars.
| During the next fye it shall pay and re
tire annually six OF said bonds, aggregating Fiji
| teen Hundred Dollars
| During the next five wears it shall pay and re
| tire of said bonds annually, aggregatins
Seventeen Hundred and Fifty Dollars.
During the next fivr years it shall pay aud re
| tire annually eight of said bonds aggregatine
Two Thousand Dollar.
| During the last five years it shall pay and retire
| annually nine OF said bonds, aggregatng Tive
! Thousand Two Hundred Dollars
| Said bonds to be paid and retired at the apnua
| interest payment period. Said bonds to be selec
| ted for payment by lot of chance The drainage
| paying and retiring greater number of bonds
than above named at any annual interest payment
period but it shall be compelled to pay and retire
at least the number of bonds and the amount
therein named. as above set forth.
And commencin with the first year that taxes
| are collected under the authorization hereinafter
granted, there shall be set aside annually su Hi.
Gent amount to meet the payment of the bonds
aforesaid For example, during the first five
years there shall be set aside at least Six Hun.
dred Dollars per annum, and during each five
year period thereafter, at least an amount sui
cient to pay and retire the number of bonds there
in named 10 be retired annually.
Said debt to be incurred, said bonds to be Is.
sued and said tax to be levied subject tn and in
accordance with the laws OF this State and espe.
clally in accordance with the provisions of Acts
145 and 1877 of the Acts of the General Assembly
for the year 1902
3D. To authorize the Petite Anse Coteau Drain.
age District to levy a five mill tax upon all the
property within said drainage district subject 10
state taxation, said tax to for "a period of
forty years, and said tax when collected shall be
applied in the order following.
First, for the payment of the interest on the
bonds herein authorized to be issued.
Second, Six Hundred Dollars per annum shall
be deposited in sinking fund for the first Ave
years, for the payment and retirement of ten
bonds at the end Of said period.
Seven Hundred ami Fifty Dollars shall be de
posted in the sinking fund annually for the next
five years for the retirement of these bonds ag-
gregating Seven Hundred and Fifty Dollars
One Thousand Dollars shall he deposited in the
sinking fund annually for the next five years 10
discharge four bonds, agg egating one Thousand
Dollsrs.
Twelve Hundred and Fifty Dollars shall de-
posted in the sinking fund annually for the next
five years to discharge five bonds aggrepatino
Twelve Hundred and Fifty Dollars.
Fifteen Hundred Dollars shall be deposited In
the sinking fund annually for the next FIVE years
to discharge six of said bonds aggregating Fiji
teen Hundred Dollars.
Seventeen Hundred and Fifty Dollars shall be
deposited in the sinking fund Annually for the
next five years to discharge seven bonds agoreeat
ing Seventeen Hundred and Fifty Dollars
Two Thousand Dollars shall be deposited in
the sinking fund for the next five years annually
TO discharge eight bonds, aggregating Two Thou.
sand Dollars.
Two Thousand Two Hundred and Fifty Dol
lars shall be deposited in the sinking fund an
nnaliy for the next five years to discharge nine
bonds, aggregating Two Thousand Two undred
and Fifty Dollars.
And said sinking fund herein provided for
shall be deposited by said Board of Commission.
ers in some banking institution in the State ~
Louisiana, which shall be agreed upon by the
purchaser of the bonds and the Board of Com
missioners of the said Petite Anse- Coteau Drain.
age District.
Third. For the maintenance and operation ~
the said system of drainage.