St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1907-04-06
AN ORDINANCE

AN OKDtNhNSE
For the purpose Of carrying out the provisions
of Act No. 81 of the General Assembly OF the
State of Louisiana, adopted at ITS session IN
the year 1906.
Section /. Be it ordained by the Town Coun-
Gil of the town of Coyington, in legal session
convened, That by virtue of and in accordance
with the provisions of Act No. 81 OF the Cen
eral Assembly of Louisiana for the year 1905,
duly and legally passed, signed ana promul-
gated, the issuance of sixty-one bonds OF flve
hundred dollars each is hereby authorized and
directed said bonds to be dated, Covington,
Louisiana, March 3d. 1907, and to bear interest
at the rate of five per cent per annum from
date until paid; payable annually at the Gov
ington Bank and Trust Company, on the 30th
day of March of each year thereafter, said in
terest 10 be evidenced by coupons attached to
said bonds.
Sec 2 Be it further ordained. ETC., That the
special tax levied for the years 1907 to 1915,
inclusive, on the assessed valuation OF properly
within the corporate limits of the town OF
Covlngton, parish of st. Tammany. LOUISIANA,
by virtue of school tax election held ana car
ried in said town on the 5th day OF OCTOBER,
1906, or so much thereof as may be required,
shall be and the same is hereby dedicated and
applied to the payment OF the annual accrued al
interest thereon, as well as to the payment OF
the principal of said bonds, as they mature,
provided said bonds shall be redeemable before
maturity at par on call at the option OF SAID
town of CoVington.
Sec, 5. Be it further ordained etc, That the
said bonds shall bear serial numbers from one
to sixty-one, both inclusive, and shall mature
as follows: Number one, on March 3O, 1908;
number two, on March 80, 1909: numbers
three and four. on March 80, 1910; numbers
five to nine, both inclusive, on March 80, 1911;
numbers ten to fourteen, both inclusive, on
March 80, 1919; numbers fifteen to twenty
one, both inclusive, on March 80, 1913; NUM-
bers twenty-five to %, both inclusive, on
March 80. 1914; numbers thirty to thirty
eight, both inclusive, on March 80, 1915;
numbers thirty-nine to forty-nine, both in
71JrI11 he
sixty-one, both inclusive, on March 80, 1917.
Sec. 4. Be It further ordained, etc, That the
following form and phraSeology be used for
the bonds to be issued by this body under
Act No. "a of 1906:
UNITED STATES OF AMERICA,
State of Louisiana, Parish of St. Tammany, 7
Covington, La, March 80, 1907.
years after date the
Town of Covingtor promises to pay to bearer
the sum of five hundred dollars, at the Cow
ington Bank and Trust Company, with inter-
est thereon at the rate of five per cent per an
mum from date until paid, said interest to be
paid annually on the 3Oth day OF March IN
each year, upon surrender of the respective
interest coupons as hereto, attached.
Both the principal and interest of this bond
are secured by the proceeds for the years 1907
to 1915, both inclusive, of special tax on the
assessed valuation of property Situated in the
corporate limits of the Town of CoVington
Parish of st. Tammany, State of Louisiana. said
tax having been voted for and duly carried at
special school tax election held in the said
| town on the / 5th day of October, 1906, the
result of which election was pursuant to law
promulgated on the 22d day of December,
1906.
This bond is one of series of sixty-one
bonds numbered from one to sixty-one, of
like amount, date, tenor and effect, and is SUBJ
| ject to cali upon payment of principal and ac-
crued interest at the option of said Town of
Covington.
In testimony whereof the said town of Cow
ington has caused the name of its Mayor and
| Secretary to be fixed hereunto as its bond and
promissory note, at Covington, Louisiana, this
| fifth day of March, 1907.
To be written across the face of the bond in
| red letters the following certificate:
| | HEREBY CERTIFY, That have examined the
proceedings prior to and relative to the voting
of said special tax, the resolutions, ordinances
and other proceedings of the Town Council of
the Town of Covington, Parish of St, Tam
| many, State of Louisiana, pursuant to which
| this bond was issued; that the said proceed
| ings are regular in form, and that the proceeds
| of the special tax dedicated to the payment of
the same estimated upon the tax roll of said
| town for the year in which the tax was voted,
that is to say, the year 1905, will be ample for
the payment of said bond, principal and in
tereSt.
This - day of --, 1907.