The Bossier banner., 1908-08-27
An Ordinance

Authorizing the President of the School
Board for the Parish of Bossier to
borrow the sum of $4,000 in order to pay
for the completion of the Benton High
School, the property of the public
school of Bossier Parish, and pledging
and empowering said President of this
Board to pledge to the lender of said
amount the proceeds OF a special tax
voted by the taxpayers of School Dis
trict No. 8 of the Parish of Bossier, La.
Be it ordained by the Board of School
Directors Of the Parish of Bossier, in
legal session convened, that the Presi-
dent of this Board, J. N. Platt, be and
he is hereby authorized and empowered
to borrow, for and on behalf of this
Board, the sum of $1,000, with s per cent
interest from date and 10 per cent addi-
tional as attorneys fees, if placed in
the hands OF an attorney for collection
after maturity, for the purpose of COM
pleting the Benton High School building
in the town OF Benton, La, and to exc
cute for and in behalf of this Board a
note or certificate of indebtedness paya-
BILE to the lender of said amount, con-
tanning the usual stipulations as to in
terest and attorneys fees, payable at
one, two, three, four and five years after
date, with interest on the whole amount
due payable annually, and providing for
the maturity of the whole amount on
default in any Of the annual payments of
principal or interest.
Sec. 2. Be it further ordained, That
in order to secure the prompt and
punctual payment of said note, interest
and attorneys fees, that the said Presi-
dent be and he ia. hereby empowered and
authorized to pledge to the lender OF
said amount the special tax voted by
public School District No. s, OF Bossier
Parish, of 2la mills until the full and
| final payment of said amount, interest,
attorneys fees and all cost; and the
| lender of said amount shall have the
rihgt to file with the Sheriff and ex-
officio Tax Collector of said parish a
copy of this ordinance, and when he OF
they shall do so it is hereby made the
duty of said Tax Collector, and this Or
dinance is hereby a direction to him, to
pay to said lender all collections on said
special tax in said School District No.
until the full and final payment of the
amount herein specified, with interest,
cost and attorneys fees; provided that
such lender shall furnish to said Tax
Collector evidence that he or they is OF
are the holder of said note or certificate
of Indebtedness and of the amount due
thereon.
Sec. 3. Be it further ordained, Tha,
this ordinance is irrepealable, and shall
be and remain in full force until the full
and final payment OF said Indebtedness,
and the same shall not be amended OF
changed until the payment of said
amount due to said lender of said sum;
provided, that after paying the annual
amount to become due on said indebted
ness that the balance of such annua
collection may be used by this Board fol
other purposes; but the true intent Of
this ordinance is that the amount accru-
ing on said note or certificate shall be
first paid out Of said amount before any
other amounts out of the same shall be
paid, and this ordinance is hereby de.
clared to be an appropriation of so much
OF said special taxes SO voted by sale
School District No. as may be neces-
sary to pay the annual installments O.
said loan and interest, and such amoun
SO appropriated is hereby dedicated tt
said purpose. JIM. PLATT.
President Bossier School Board.
JOS, E. JOHNSTON, Secretary.