The Caldwell watchman. (Columbia, La.) 1885-1946, 1914-10-16

shall be payable in forty 4o) annual
installment. of fifty thocsand dollars
$3.50, 0O0) each. payable on the first DAY
OF January IN each Of the yes 1910
to and including 1858. respectfully as
hereinafter set forth.
Said bonds shall be made paEanie 10
bearer. and shall be STYLED 'FunnH
School Bonds. City or New orleans anu
Parish of Orleans"
Said bonds shall he Of the demon
nation of one thousand dollars each.
except that at the option OF any DID
der, to be indicated in and as part
of his bid. bonds Of the DENOMINATION
OF five hundred dollars may be issued
to such bidder II successful.
The principal and interest OF sald
bonds shall be payable In gold com OF
the United States equal TO the present
standard of weight and flneness. VI
same may be expressed In pounds ster
ling or in franc and at such arbitrary
rate Of exchange, as said board Oh hiq-
uida ton. CITY. Debt. may determine
said bonds shall be signed by the
president and secretary. respectl'ety'
Of the Board Of Directors OF the fupIlS
Schools for the Parish or orleans, an"
shall be countersigned py tIe and
dent. or one Of the vice presldents. anu
the secretary Of the Board OF LlQulda-
y
| tion City Debt. It'll ~
The interest on said bonds shail os
| evinced by interest coupons attacneo
thereto bearing the fac-simile sigma
lures Of the secretary OF the boaro ~
| Directors of the Public Schools FOR the
| Parish of Orleans and the Secretary
of the Board of Liquidation. City DEBT
respectively. and shall be payable on
the first days of July and January re.
spectvely. in each year; SAID lnteTes res.
shall be payable in the City or Ne"
Orleans and in such other cues as tue
Board of liquidation. Guy pep anca sIsy
determine upon surrender ana cancella-
ton of the sail respective interest cou-
mons. provided, however. that SUCH
| cities shall be designated by the Board
Of Liquidation. City Debt. and announc
ed in the advertisement calling Ior
competitive bids; and proviaf,dd' 1 bnnds
shall be payable only In the City Of
New Orleans. State Of Louisiana
Said bonds may be registered ana
released from registry under sucn
rules and regulations as the boa,o OF
) Liquidation. City Debt. may deter-
mine: shall be exempt from ,o oaHs-
, shall be a legal investment for the tu-
: tors OF minors and curators OF inter
diets. and shall he received as secur.
2 itv for public deposits Of the state OF
: Louisiana or any political SUBDIVISION
thereof.
Y Section 2. Be II further enacted etc
0 That as soon as constitutional autnori,
Y Nv for the issuance Of said bonds snail
n have been obtained the Board of Direc'
: tors of the Public Schools for the Far
: ish Of Orleans shall. by resolution
adopted by a majority of the members
|, thereof in regular or special mee'ihf
e called for that purpose. call upon I'M
| tlot
S vertise for the sale OF said bonds; Whel
n so called upon. 1t shall be the duty o.
= the Board Of Liquidation. City Debt
IT to advertise said bonds for sale In tn
n official journal of the City of New or
S leans and in such other newspapers u
:. financial centers as the Board OF Lloui
IL dation, City Debt. may determin,e
Re each Of said newspapers for thirty go
'r DAYS Immediately preceding the dat
he fixed for the recent Of bids; and tn
l. said bonds shall be adjudicated. an
Re sold, under sealed bids or proposals.
,. the highest bidder who shall have com
~ piled with the terms and conditions Sc
8. out by the Board Of Liquidation. Cit
CT Debt, in the advertisement for sal
n bids: provided that no sale Of sal
bonds shall be made unless all OF sal
:. issue he sold and unless the averae
Is price obtained for the different matu'
* tiles shall at least equal par and a.
ne ne crued interest for the entire issu
N ~ shall have the right to reject an, ar
!, Section 3. Be 1t further enacted. .et'
~ That when the said bonds shall ha'
~ been adjudicated. as hereinafter
y, forth, 1t shall be the DUTY OF the Boa,
~ hatriy cause said bonds to DO engrav
Y. and executed in such denominatio
IA, and payable in the currency OF sn
4. country or countries as the sucress1
nc bidder or bidders may have indicat
"A or the Board Of Liquidation. City Del
s &c" The Board Of Liquidation. City Del
,n. shall have the right to prescribe t
aps amount Of the deposit that shall acco,
tis many each bid the conditions und
act which same shall become forfeited. t
tbe time within which the bonds shall
md md delivered after the adjudication. az
re- generally. all terms and conditions
h,v pertaining to the bids and adjudic
~ tion not otherwise provided for by Il
al Section L. Be It further enact
in | etc, That the Board Of Liquidati'
act CITY Debt, shall deposit the procee
of the sale Of said bonds in such To-
.ed bank or banks as NAV become the 81
he cessful bidder or bidders for said Dor
av in proportion to the amount OF tn
nth respective bids, upon furnishing sec
nh. itv satisfactory to the BOARD Of Liz
the dation. City Debt and at such rate
til interest as the Board Of Liquidat1
City Debt, may fix and announce In
tide advertisement calling for bids. In
and event that the successful bidder or b
nse ders for all or any part Of the s
1y1- bonds shall be some person. firm
lict corporation other than local ba
led then the proceeds Of the sale OF
Act bonds awarded to said successrul
All. der or bidders shall be deposited
such local bank or banks and at 81
ted rate of interest as the Board OF Lie
he dation, City Debt. may determine.
ICED All payments made by the Board
ans Directors OF the Public Schools for
,rds Parish Of Orleans shall be made in
An form Of warrants or drafts on
ndi- Board OF Liuuidation City Debt sett
end forth the amount thereof. the per
eral to whom PAYABLE and the purpose
which the payment is made; and
Board of Liquidation, City Debt
YES. hereby charged with the duty Of TAX
care that no irregula- or improper
of unlawful payments are made out
said funds.
Section S. Be II further enac
etc, That the annual installment
ana. principal amounting to fifty thous
dollars (S50.000) and the interest
said bonds shall be payable out Of
one-half of the surplus of the one
cent, debt tax levied by the City Of
Orleans by virtue OF Article BIT or
Constitution of the State Of Louisi
.dnnted in the year 1918. and ded
ted for the use of the public sch
~. Doriob ~ OrIoope pro