Lower coast gazette., 1913-06-14

THEREFORE, Be it Resolved by the
Board of Commissioners for the Ven
ice Drainage District, that it at once
proceed to drain and reclaim in ac-
cordance with said report and plans
advised by the Board of State Engi-
neers, all of the land included within
this district and containing 1469.56
acres, which said lands form the en-
tire acreage within the boundary OF
this district, as shown on the map OF
this district on file with this Board
and attached to the report of the Board
of State Engineers.
BE IT FURTHER RESOLVED, That
in order to provide funds for the drain.
age and reclamation of said land as
above described, the Board of Commits
sioners for the Venice Drainage Dis
trict, for and on behalf of said district,
does hereby incur a debt to the
amount of Forty and 50-100 Dollars
{$40,50) per acre against each and eV-
cry acre of land situated in this dis
trict, to be reclaimed, or an aggregate
of Fifty-nine Thousand, Five Hundred
Dollars ($59, 100000, against the whole
1896 acres of land included within
the limits of this district to be re-
claimed and drained by leveeing and
| pumping the same, the whole Of which
said debt is incurred for each acre of
land and for all of the land as above
set forth in accordance with the terms
of this resolution.
BE IT FURTHER RESOLVED, That
to evidence the debt in the amount OF
Fifty-nine Thousand, Five Hundred
Dollars $3.50, 5O0.00), here above incur
red in this district, the Board of Com
missioners for the Venice Drainage
District, for account of said district,
does hereby order and authorize the
issuance of One Hundred and Nine
teen negotiable bonds, numbered from
one to one hundred and nineteen, in
elusive, to run for a period of from
five to forty years from their date
unless sooner redeemed, and to bear
interest at the rate of 5 per cent per
annum. payable semiannually on the
first day of February and on the first
day of August of each and every year,
said interest to be represented by cou-
pons attached to said bonds showing |
the amount of interest due on each
bond at its maturity, and said bonds
being in denominations of Five Hun
dred Dollars (s500.00) each.
BE IT FURTHER RESOLVED, etc.,
That the form of said bonds shall be
substantially as follows:
UNITED STATES OF AMERICA.
PARISH OF PLAQUEMINES.
STATE OF LOUISIANA.
No........... $4,000
BOND OF THE
VENICE DRAINAGE DISTRICT.
KNOW ALL MEN BY THESE
PRESENTS, That the Venice Drain
age District, situated in the Parish
of P~laquemines, State of Louisiana,
for value received, hereby promises to]
pay to bearer
Five Hundred Dollars ($5O0.O0) lawful
money of the United States, of the
present standard coinage, with inter
est thereon at the rate of 5 per cent
per annum from date, payable semi
annually on February first and August
first Of each and every year upon the
presentation and surrender of the cou-
pons attached as the same shall ma
ture. The principal sum and interest
on this bond is made payable at the
Whitney-Centra Trust & Savings
Bank of this city Of New Orleans,
State of Louisiana.
This bond is one of a series of One
Hundred and Nineteen Bonds of the
denomination of Five Hundred Dollars
each, and numbered from 1 to 119 in
aggregating Fifty-nine Thou
sand, Five Hundred Dollars $685.
SOC. 00), issued for the account of the
Venice Drainage District and repre-
sents the cost estimated by the Board
of State Engineers to drain and re-
claim all of the lands situated within
the limits of the Venice Drainage Dis
trict, by leveeing and pumping the
same and the said Bond is issued in ac-
cordance with Article 281 of the Con-
sttution of the State of Louisiana, as
amended by Act No. 1872 of the Legis-
lature of the State of Louisiana for
the year 1912, ratified by the people
5, 1912, and Act 317 of the
of the State of Louisiana
for the year 1910.
The debt represented by the One
Hundred and Nineteen Bonds was au-
to be incurred and the said
bonds were issued in accordance with
the authority conferred by the Consti-
tuition and laws above referred to and.