St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1909-02-06

building permit s
Files paid for by E. V.R. 4 8!
Total $4,000 Il
To A. r. Smith, Treas:
Checks on Gov. Blk and
Trust Co., 2,246 90
Checks on st Tam. Bkg
Co. and Saving Banks 1854 Ii
Total 1900 IL
E. j. RICHARD, Tax Collector
1t was moved and seconded that the
above report be accepted and referred
to the Finance Committee.
The following petition was read:
Covington, La, Jan. TO- 1909.
To the Hon. Mayor and Town Council of the
Town of Covington, La.
We, the undersigned resident tax
payers of the Town of Covington.
La, constituting more than one fifth
in number and in amount, respectfully
petition your honorable body to pass
an ordinance and proclamation Of
Election, ordering special election
to be held to vote on the question of
authorizing the issuance of bonds, in
pursuance to the tax that has already
been voted on Monday the 18th day of
October 1906, for the purpose of con-
structing, erecting and maintaining a
public school house or school houses
and for other school purposes.
That the issuance of the bonds, be
in the sum of forty thousand dollars,
by the Mayor and Town Council, at
such dates as they may fix.
Signed by 108 taxpayers.
On motion, duly seconded, the above
petition was referred for examination
and comparison with the assessment
roll to committee of three, consist
ing Of w. A. Hood, j. L. Smith and
P. j. Lacroix.
After due consideration, the COM
mittee returned and made the follow
ing report:
Upon careful examination and COM
parison of the above petition, we, the
committee found that more than one
fifth of the property tax payers have
signed the same.
The following ordinance was read:
AN ORDINANCE
Calling for an election by the property tax
payers of the town of Covington, La, for the
purpose of authorizing the issuance of bonds
in the sum Of forty thousand $4,000, dollars,
in accordance with the laws of the State of
Louisiana. and the ordinances of the Mayor
and Town Council of the Town of Covington,
La, said bonds to be secured and retired by a
special tax of four mills voted on the 18th day
of October, 1905, Said bonds to be forty 400
in number, and each for the sum of one thou
sand dollars, for the purpose of constructing,
or school houses, within the town of Coving-
ton, La.
Section /. Be it ordained by the Mayor and
Town Council of the Town of CoYington, La,
in legal session convened, that special cleo
ton is hereby ordered to be held in the town
of Covington. La, on the % day of March.
1909, at which election shall be submitted to
the property tax payers of the town of Cow
ington, La, entitled to vote under the laws of
the State of Louisiana, the question of issuing
negotiable bonds to the amount of forty thou
sand dollars for period of ten years, In pur-
suance of the debt already incurred by said
town council, in an ordinance passed on the
9th day of December, 1906. Said bonds beng
issued for the purpose of retiring certain cer-
tificates of indebtedness and for the purpose
of completing the school house now in the
course of construction in the town of Coving-
ton, La said amount not being over 5 per
cent. of the assessed valuation OF the property
situated within the town of Covington, La.
and for maintaining public schools, as appears
by the last assessment rolls of said town.
Section 2. Be it further ordained ETC., That
the question of issuing negotiable bonds, in
pursuance of the tax already levied by ordi-
nance dated the 9th day of December, 1906,
upon all of the taxable property situated with
in the town of Covington, La, for period of
ten years, and for the purpose of paying the
interest and principal of said bonds, shall be
submitted to the people of the town of Cow
ington, La. entitled to vote under the laws of
the State of Louisiana, at said election.
Section T. further at na+
said bonds shall be forty in number, and each
for the sum of one thousand dollars.
That said bonds shall be issued for a period
Of ten years, beginning on the first day of
January, 1909.
Said bonds shall be drawn payable to bearer,
shall be signed by the Mayor in his official ca
pacity, and aftested by the signature of the
secretary, and each shall have the official seal
thereon, with the following words printed on
the back:
This bond, principal and interest, is secured
by special tax of four mills. and by an ap-
preparation of sufficient amount of sums
eminating from other sources to meet the de-
ticit in said special tax"
They shall all bear interest at the rate of five
per centam from the day of their issuance,
and said interest is to be evidenced by coupons
attached to said bonds, payable annually at the
treasurer's office.
Section 4. Be it further ordained. ETC., That
the Town Council of said town of Covington,
La. shall have the right to negotiate said bonds,
Section 5. Be it further ordained, ETC., That
there shall be set aside out of the revenues
arising from the above mentioned special tax,
which has already been levied by ordinance
dated the 9th day of December, 1906, all sums
in excess of the interest on said bonds, which
sums SO set aside shall constitute a sinking
fund for the payment of the principal of said
bonds when due, which funds shall not be
drawn out OF the treasury for any other pur-
pose, and If said amount is less than the
amount of the bonds at their maturity, the
Town Council of the Town of CoVIngton
Shall, from other revenues hereinaboVe pro-
sinking fund shall amount to not less than the
bond executed and issued under the ordinance,
which fund shall not be diverted for any other
purpose, or by any other authority.
Section .. Be it further ordained etc, That
the said interest on said bonds shall be paid
out of the funds arising from the collection OF
the special tax hereinbefore mentioned, and
the Treasurer of the town of Covington, La,
shall be and he is hereby authorized to pay any
and all coupons that may be due when present.
cd by any bona fide owner or holder of any
OF said bonds.
Section z. Be it further ordained, ETC., That
said special election shall be held according to
law and at the polling places eStablisheu by
law, and the ballots to be used at said election
shall be of the following form:
For issuing negotiable bonds in pursuance
of the special tax already levied, to the amount
of forty thousand dollars, for a period of moi
less than ten years, for the purpose of con-
structing, erecting and maintaining schoo
house or school houses. within the town OF
Covington. Id. Z.
Against issuing negotiable bonds In pur-
suance of the special tax already levied, to the
amount of forty thousand dollars, for perioc
of not less than ten years, for the purpose Of
constructing, erecting and maintaining
school house or school houses, within the
town of Covington, La.
Every voter shall designate his or her will By
stamping the circle opposite the proposition
he or she votes.
Section 8. Be it further ordained, etc, Tina
the Board of Supervisors of Elections of the
Parish Of st. lammany, are hereby requested
10 appoint commissioners and clerks to serve
at said polling place, to give due notice of sale
appointment, and of the time and place Of
holding said election, and to make their re.
| turns of said election to the Mayor of the towr
of Covington. who shall announce and promul.
gate the result of said election, according tC
law.