St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-02-01
Official
ORDINANCE.

Be it ordained by the Mayor and
Board of Aldermen of the Town OF
Covington, in legal session convened,
that tie Mayor Of said town is hereby
authorized and directed to issue and
deliver to contractors, for work done
and to be done on the public high
school building Of Covington, La,
eighty (80l Certificates of Indebted
ness of the said town of Covington, of
the denomination of five hundred
dollars $500 each. Said certificates
shall bear serial numbers from one ~
to eighty, 800 both inclusive, and
shall mature as follows:
Nos. | to g. both inclusive, payable June IS, 1908
g to IA, both inclusive, payable June IS, 1903
''I5 to %, both inclusive, payable June %, 1910
''24 to SO, both inclusive, payable June %, 1911
"a to 49, both inclusive, payable June %, 1912
'43 to 81, both inclusive, payable June %, 1918
So to SO, both inclusive, payable June %, 1914
"64 to IA, both inclusive, payable June %, 1918
t.75 to 80, both inclusive, payable June Is, 1916
Sec. 2. Be it further ordained, ETC.,
That the special taxes levied by the SAID
town of Coyington, Louisiana, for the
wear 1907 to 1916, both inclusive, on
the assessed valuation of the property
situated within the corporate limits OF
the said town of Covington, Louisiana,
by virtue of a school tax election held
and carried in said town on the 18th
day of October 1906, or so mucb there
of as may be required, shall be, and
the same are hereby dedicated and
pledged to the payment of the accrued
interest on, as we'll as to the payment
of the principals of said certificates OF
indebtedness as they mature. Said GER
tifcates of Indebtedness amount IN the
aggregate to the sum of forty thousand
dollars, being the estimated aVails OF
said snecial tax Of four mills levied,
as aforesaid, for the years 1907 to
1916. both inclusive, for the purpose
of erecting a public school house, ETC.,
in said town of Covington, Louisiana.
Sec. 8. Be it further ordained, ETC.,
That said certificates of indebtedness
shall also pledge the excess OF the an
mail revenues of the said town of Gov
morton. over and above the statutory,
necessary and usual charges for the
wears 1907 to 1916 both inclusive, and
until the final payment OF SAID certln,
Gates in principal and interest. oalo
certificates to be at interest at the
rate of five per cent per annum from
date, until paid, the same to be paid
on the 25th day of June OF each year
until all of said certificates are paid
in full.
Sec. 4. Be it further ordained, ETC.,
That the following form and phrase
oIoov he used for said certificates OF In
debfedness issued by said town OF
State of Louisiana, }
Parish of St Tammany. 7
Coving ton, La, 49,
......... ater date, the town
of Covington, Louisiana, through its
dulv constituted authorities, promise
to paw to name of contractor( the
sum of five hundred $500 dollars,
If Covington Bank and Trust Com
nanv Coyington, Louisiana, with IN
ferest at the rate of five per cent per
annun from date until paid.
Roth the principal and interest OF
+b;s certificate Of indebtedness are
s srS bv the proceeds for the years
1oo7 r. 1915 both inclusive, Of special
~ IN assessed valuation of property
Situated S in the town of Covington,
narish of St. Tammany,, LOUISIANA,
poi; POI tax having been voted and carried
Fl q sneciaI election held IN said town
or 4ba 18th day of October 1905. :.
VI This NE certificate of indebtedness Is
ono Of a series of eighty (80) mum
bered from one to eighty, DOM lhciA'
sive. of like tenor and amount. u
In testimony whereof, Iae +h "o~ naro n.