St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-01-18
Official
ORDINANCE.

Be it ordained by the Mayor and
Board of Aldermen of the Town of
Coyington, in legal session convened,
that the 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 (80) 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 6, both inclusive, payable June IS, 1908
:. ITO ii. both inclusive, payable June IS, 1909
rs to %, both inclusive, payable June %, 1910
"a to SO, both inclusive, payable June 25, 1911
. "a to 42, both inclusive, payable June 25, 1912
40 to 81, both inclusive, payable June 25, 1913
T" So to 63, both inclusive, payable June %, 1914
81 to a. both inclusive, payable June25, 1915
20 to 80, both inclusive, payable June25, 1916
Sec. 2. Be it further ordained, etc.,
That the special taxes levied by the said
town of Covington, Louisiana, for the
year 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 school tax election held
and carried in said town on the 18th
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 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
Iaual revenues of the said town of Cow
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 certifi-
Gates in principal and interest. Said
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 18th 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 foxm and phrase
ology be used for said certificates of in
debtedness issued by said town OF
Covington:
State of Louisiana, }
Parish of st. Tammany. Z
Coving ton, La, ...........,. 49,
i. afer date, the town
of Covington, Louisiana, through its
duly constituted authorities, promise
to pay to (name of contractor) 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 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 800 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.
Sec. s. Be it further ordained, etc.,
That the Mayor of said town Of Coving-
ton. La, be and is hereby authorized and
instructed to deliver to |. c. CARRIER,
Contractor, for work done and materi-
ais furnished by him for said Public
HIGH School Building, under contract
heretofore entered into, thirty-five of
said certificates of Indebtedness, bear
ing the serial numbers from one to
thirty-fve, both inclusive, and amount
ing to the sum of seventeen thousand
1--WE hundred dollars ($17, 500, with
interest at the rate of per cent per.
annum from October 2, 1907, until paid,
less nine dollars and four cents $500
ID be deducted therefrom and paid
over TO the town treasurer; and that