The Caldwell watchman. (Columbia, La.) 1885-1946, 1914-09-18

Sec. Caldwell Fair Assn.
Tensas Basin Levee Board Pro.
ceedings
Rayville, La, Sept. 2, 1914.
In special meeting of the Board of
Commissions of the Tenas Levee was
held at it's domicile in the town of Ray
vile, on Wednesday, the End day of
September 1914, pursuant to an order
of the President, for the purpose of au-
thorizing and providing for bond is
sue, and also to transact any other
business properly to come before the
meeting.
Present: TB Gilbert, ST., President,
j 5 Rolf, Geo. J Glover, ] A Lester,
w S Peck, C H McHenry, 0 M Smith,
and B E Blake, all members being
present. ] W Summerlin, Secretary.
Mintes of last meeting were read
and approved.
After the President had stated the
object of the meeting the following
resolution was presented by Mr.. Nc
Henry. seconded by Mr.. Rolfe, and on
roll call the vote was as follows:
Yeas: Gilbert, Rolfe, McHenry,
Smith, Glover, Lester, Peck and
Blake.
Nays: None.
Whereas, the Board of Commission
ers of the Tensas Basin Leyee District,
being in need of sum of money, not
exceeding One Hundred Thousand Dol
lars, to pay for enlargement Levee
Work now under contract and con-
.structipl, on its line Of levees, along the
Mississippi River in the State of Ark
ansas, and
Whereas, this Levee District being
limited to a Bond Issue of One Hun
bred and Fifty Thousand Dollars, with
an outstanding issue of only Thirty
Thousand Dollars,
Therefore, be it resolved by the
Board of Commissioners of the Tensas
Basin Levee District, in special session
convened for that purpose, that Bonds
of the Board aggregating One Hun
dred Thousand Dollars be issued under
provision of Act No. SO of 1886, and
Act No. 70 of 1894 of the the General
Assembly of the State of Louisiana;
that said bonds to be of the denomina-
ton of One Thousand Dollars each; to
be numbered consecutively, beginning
with number 2 and numbered to 100
inclusively, to be dated October /,
1914, and to be due twenty years from
date, bit payable at the option of the
Board ten years after date. Interest
on said Bonds shall be five per cent.
per annum from date until paid, and
said interest shall be payable annually
at the Office Of the State Treasurer
out of the funds of the Tensas Basin
Levee District, and such interest shall
be evidenced by interest coupons at
tached to the Bonds.
Be it further resolved, ETC., That the
State Treasurer shall set aside annual.
ly from the funds of the District an
amount sufficient to pay all interest
due on the Bonds hereby issued, to pro-
vide for the payment Of the principal
of said bonds when due, and to pur-
chase the same before maturity at not
more than their face value, and to pro-
vide a sinking fund therefor. Five
per cent of the amount of said Bonds
shall be deposited annually with the
Treasurer Of the State for that pur-
pose, out of the funds raised for lands
in said Levee District, which NAV be
made by the said Board previous to
maturity of said Bonds shall be depos-
tied with the State Treasurer:
Be it further resolved, that the
President of this Board be, and he is
hereby, authorized and empowered, to
negotiate the sale of said Bonds.
Adopted September 2, 1914.
T. B. Gilbert,
President.
Attest: j. w. Summerlin, Secretary.
Mr.. Rolfe presented the following
resolution, seconded by Mr.. Peck,
which was adopted by the following
vote:
Yeas: Gilbert, Glover, McHenrv.
Smith, Rolfe, Peck, Blake and Lester.
Nays: None.
Whereas, the President of this Board
having negotiated with the Caddo Lee
wee Board of this State for loan to
Board Of the sum of the Ninety Thous-
and dollars $3.50, 900. 00) for the purpose
OF enabling this Board to pay for GER
tain Levee costracts now uuder con-
struction:
Therefore, be it resolved that T. B.
Gilbert, ST., President of this Board
be authorized and empowered to receive
from the Caddo Levee Board the said
sum Of money, and to secure the same
in the name Of this Board by execn.
ting the necessary notes, and to nledga
as collateral therefor, the bonds an.
thorized to be issued at this meat;no
of said Board, not to exceed 0ne
Hunered Thousand ($lO0, OO0. O0l Dol.
lars, and to agree to pay such rate az
interest as may be agreed upon bv the
said President and the Caddo Ievee
Board, and to make such other arranoe.
ments as may be proper and necessary