The weekly Iberian., 1912-08-31

cordancc With Sections 3 and
| hereof shall constitute a debt of
and bn paid w tn Mayor and
| Board Of Trustee O. tn" City OF
New Iberia onc-third cash, within
| ten days after the completion and
acceptance OF said work and the
balance out OF its excess Cf an
nual revenues over and abOvcuhc
statutory, necessary and usual
charges OF the years 1913 and 1914,
said excess being hereby dedicated
to tho payment OF said indebted
ness, and said Indebtedness to be
represented NY certificates of in
dehtedness OF Approximately equal
amount, dated ten days after the
said work is comp ted and accept
cd, bearing five per cent. interest
from date, and payable respective
~ on the 3lst day Oi December,
1913, OUT OF the excess revenues
for the year 1913, and on the 3lst
day Of December, 1914, out Of the
excess revenues for tho year 1911.
SECTION VI.
BE IL FURTHER ORDAINED,
that the amounts due and to hc
paid hy the Southwestern Traction
& Power Company shall be due and
paid within ten days after compile
ton of the work, ana the accept
ancc thereof.
SECTION VII.
BE 1T FURTHER ORDAINED,
that tn" amounts due and to be
paid by the owners Of said abut-
ting real estate shall hc payable as
follows: Twenty per cent.'in cash
within ten days after the compile
ton Of the work and its accept
ancc, and the balance in five equal
instaIlmcnts payable. in one, two,
three, four and five years or soon
cr, at the option Of the said abnt
ting property owners; said defer
certificates, dated ten days after
issued by the Mayor, showing the
amounts respectively due by the
said abuttiNg property owners.
The said special assessment or con
trihutiOn represented by the said
to be collected by the
or his assignee, by suit |
il necessary and said certificates to
bear interest at the rate of five
per cent. per annum from date, |
payable annually, and ten per cent.
attorncyS fees if sued on, and to
be countersigned by the City Clerk |
and duly paraphcd and identified
with thia Ordinance and the con-
Irac( awarded hereunder.
SECTION VIII.
BE IT FURTHER ORDAINED
hat the right to reject any and all
ids is hereby specially reserved
md tho acceptance OF any bid
shall not amount to a contract un-
il the said successful bidder shall
rave furnished bond signed by
rood and sufficient sureties, ac-
eptablc to the Mayor and Board
Il Trustees of the City of New be
ia, in the sum of Twenty-Five per
.nt. OF the cOntrac; price, con-
itioned upon the faithful per
Ormance OF said contract, and
,hich contract shall be signed by
he Mayor and Board Of Trustees
+ the City OF New iberia, and the
only after the said re-
uired bond shall nave been cx-
cutcd; provided, that the success
III bidder shall execute a bond AS
ercin re l,lircd and shall sign the
ontract with the Mayor and Board
+ Trustees OF the City of New he
ia, within ten davs from the ac
lptance Of his bid. and shalt be
IN the actual construction of this
ork within fifteen days from the
gning of the contract, O!hcrWis, {
9 sha 4 forfeit to- the Mayor and
oard OF Trustees Of the City of
CIV iberia, the amount accom-
anying his bid.
SECTION TX. ,
BE IT FURTHER ORDAINED,
lat all bidders are invited to ex-
nine this Ordinance and "TIiE {
under which the said I
ork shalt be executed, and the !;
,ccessful bidder is required to )
d for the award of said contract c
to the terms and condi- \
ons set forth in this Ordinance
I'd "THE CONTRACT" and speci-
cations Unidentified herewith. v
SECTION X. 9
BE IH FURTHER ORDAINED, \
at the Mayor of the City or New 0
eria be and he is hereby auth h
lied to execute the said con- !,
act by signing the same in his
ficial capacity. "
Thus done, read, adopted, signed p
"a seal affixed in open session Il
New Iberia, Louisiana, on this a
e 30th day OF August, Nl2. "
j. 5. POWER, a
Mayor
IN motion Of Mr.. Renou,et, second
by Mr. Girard and carried tn.
.eting adj ,urncd. F.,