St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-01-25
Official
ORDINANCE.

Be it ordained BY the Mayor and
Board of Aldermen of the Town OF
Covington, in legal session convened,
that the Mayor of said town is hereby
authorized and directed to issue and
deliver to contractors,sf work done
and to be done on the public high
school building of Covlngton, La,
eighty 1907 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 u
to eighty, (80) both inclusive, and
shall mature as follows:
Nos. Ito 8. both inclusive, payable June IS, 1908
!" 4 to IA, both inclusive, payable June IS, 1903
f'15 to %, both inclusive, payable June %, 1910
q "a to 80, both Inclusive, payable June %, 1911
8 "a to AZ, both inclusive, yable June %, 1917
"43 to 81, both inclusive, payable June 25, 1913
= So to 63, both inclusive, payable June %, 1914
g 81 to rs, both inclusive, payable june25, 1915
IT'S to so, both inclusive, payable June IS, 1916
Sec. q. Be it further ordained, etc.,
That the special taxes levied by the SAID
town of Covington, 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 10th
day of October 1906, or SO much 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 well as to the payment
of the principals Of said certificates OF
indebtedness as they mature. Said GER
tificates of Indebtedness amount IN the
aggregate to the sum of forty thousand
dollars, being the estimated avails OF
said special 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
nual revenues of the said town of Gov
ington, over and above the statutory,
necessary and usual charges for the
years 1907 to 1916 both inclusive, and
until the final payment of said certltl-
Gates in principal ands interest. Said
SGILIIlGdGG0
rate of five per cent per annum from
date, until paid, the same to be paid
ON the 18th day of June of each year
until all of said certificates are paid
in full.
Sec. a. Be it further ordained, ETC.,
Thatethe following form and phrase
oIeay be used for said certificates ofin-
&i5tedness issued by said town of
Coyington:
State of Louisiana,
Parish of st. Tammany.
Coving ton, La, ,..s...=..... ~
.. alter date, the town
of Covington, Louisiana, through its
duly constituted authorities, promise
to pay to (name of contractorl the
sum of FIVE hundred $500 dollars,
at Covington Bank and Trust Com
pany, Covington, Louisiana, with in
terest at the rate of five per cent per
annum from date until paid.
Both the principal and interest OF
this certificate of Indebtedness are
secured by the proceeds for the years
1907 to 1916 both inclusive, of a special
tax on assessed valuation of property
situated in the town of Covington,
parish of ST. Tammany, Louisiana,
said tax having been voted and carried
at a special election held in said town
on the 18th day of October 1906.
This certificate of Indebtedness is
one of series of eighty 1907 num-
bered from one to eighty, both inclu-
sive, of like tenor and amount.
In testimony whereof, the town OF
Covington, La, has caused the name
of its duly qualified Mayor to be
affixed hereto.
.......s...t. H1s 7 3E.5
Sec. &. Be it further ordained, ETC.,
That the Mayor ofsaid town of Coving
ion. ia. be andis hereby authorized and
Instructed to deliver to /. G. CARRIER,
Contractor, for work done and materi-
als furnished by him for said Public
HIGH School Building, under contract
heretofore entered into, thirty-fve OF
said certificates IF Indebtedness, bear
mo the serial MIlns1ars from one tc
thirtv-five, both inb lnsive, and amount.
ing to the sum of seventeen thotlsanC
Eve hundred dollars ($17, 500, with
interest at the rate Of per cent PEI
ann,1ra from October 2, 1907, until paid
lnss nine dollars and four cents S9. 04)
n he deducted therefr0ga and pa1e
w ~, 41r 4ay1yr trensprRrs and thai