Lower coast gazette., 1914-10-03

Governor and President Of the l y;
Senate. ii
Approved: July 8, 1914. in
l.. e. HALL, 49,. u:
Governor of the State of Louisiana. OF
| true copy: CT
ALVIN e. HEBERT, a
Secretary of State. a
ACT NO. 262. !
Iouse Bill No. 613. BY Mr.. Generelly q
AN ACT l
authorizing the board OF Directors OF the 9
Pubic schools OF the farlsn VI W :
cans to issue Two Million Doliais VI
bonds for the purpose OF acquiring : :
scnool sites, constructing schOOl Duilu' ,
inps and their appurtenances IN tue Clty
of New Orleans: to provide the terms
and conditions under which SAID DOhds
shall he issued and sold, and the Secu-
rlty for the payment OF the principal
and interest thereof; to denne the au-
tas Of the Board Of Liquidation, Clty
IIebt in connection Win the ISSUANCE
and sale OF SAID bonds, the payment
of the principal and interest thefeon,
and the retirement thereof; 10 preSciioe
the duties and obligations OF the Clty
Of New Orleans IN connection WIN the
reimbursement OF the board OF Direc-
tors of the Public Schools tor the farlsn
OF Orleans by certain annual paymens
and to dehne the methOd anu man n.
in which the proceeds OF saiu Donu'
snail be employed and dlspursed.
SECTION /. be 1t enacted Iby. the uen-
eral Assembly OF the State OF Louisiana
,wo-thlrds OF all the membefs electeu "
each house concurrIng, lhat subject 70
tne %rat,hcatiOn OF the people OF tue otate
of LOUISIANA, by an amendment 10 Tue
constitution OF the Slate, n~erelnaltef
! snpmltted to them, the board OF Dlrec-
rors Of the Pubic Schools tor the Parish
of Orleans. of the State OF LOUISIANA, Is
nerebv% authorized and empowered 10 ISSUE
nonos not to exceed W million doilars
~ OU.UUO.UO) in amount, to be dateo
January l. 1915, bearing tive per CEN
, ,oxol per annum interest, payable semi
annually. the principal OF winch sinai D'
I nayable in forty (4O) annual lnstall
mems of fifty thousand dollars ,t$oV,
;. ,NNls each. payable on the hrst Gay Q
January IN eacn OF the years l9l6 TO an
+ including 1900, respectively, as herell
d after set forth. h, :
Said bonds shall be made payable
: hearer. ana snail pe styled "PuDlc Schot
bonds, City OF New ofieans anu AaAtN
ID OF orleans" -
y SAID bonds shall be Of the denomln'
" ton Of one thousand dollars each, eAcei
n mat at the option OF any Dl0der, W
Indicated in and as a part OF MS Da
nonds OF the denomination OF hve nu
~ dred dollars may be issued to such ~
III successful. =
:. Inc principal and interest OF said bon
10 = shall be payable m@zgold com OF the u
:" states equal to the present andar0
~ weight and tineness, rOr same may pc {
lel dressed in pounds sterling or IN tral
We and at such arbitrary rate OF exchan
as SAID board OF Liquidation, City De
'noo may determine.
lna Said bonds shall be signed by. the pre-
~ dent and secretary, respectively, OF
ul- board of directors of the Public Scno
for the Parish of Orleans and shall
'Ie countersigned by the president, or
M Of the vlce-presldents, and the secret
DAc Of the Board of Liquidation, Caty ~
az The interest on SAID bonds shall
evidenced by interest coupons attac
,tc., thereto bearing the fac-simile signatt
give of the secretary Of the Board of Direc'
tne Of the Public Schools tor tne farisn
Vlth Orleans and the Secretary OF tne ne
usl. OF Liquidation, City Debt, respectv
rety and shall be payable on the nrst gay
arge July and January, respectively, IN {
coed year; said interest shall be payaDis
arge the City Of New Orleans q IN
other cities as the Board Of Liqulda1
the City Debt, may determine, upon SUI
orm- der and cancellation Of the sald res
his tive interest coupons, provided, now
! de- that such cities shall be designated by
unds Board of Liquidation, City Debt, ano
the nounced in the advertisement caillnl
the competitive bids; and provided, tur
light that the principal Of said bonds sha
PAYABLE only in the City OF New
such leans, State of Louisiana.
sary, Said bonds may be registered an
iness leased from registry under sucn rules
pro- regulations as the Board OF LIQUIDS
shall CITY Debt, nay determine; shall b
{ the empt from taxation, State. parish
|ental municipal. shall be a legal invest
t and for the tutors. Of minors and cul
shall Of interdicts !; and shall be recelv'
te by security for public deposits OF the
q the Of Louisiana Of any political suDdi
asurer thereof.
, City Section 2. Be it further enacted
!; said That as soon as constitutional aut
funds for the issuance Of said bonds shall
funds, been obtained. the Board of Dir
Of the Public Schools for the Par
8, pro Orleans shall, BY resolution aGopt
~&-> L. ~nNurh0T0 fn0H1