The Caldwell watchman. (Columbia, La.) 1885-1946, 1914-09-11
TUE CALDWELL WATcHMAN, COLUMBIA

~'~0A11s LII
. DC Payable in rortv .m
$50 oanI hts Of fifty thocs,nd a.
Of Janu.,ea each. payable on the FILA.
w w sn naauary In each OF the .'e lirst
hereinafttnnc including 1855, respecti !el,-
~. or raa bonds shall BE- n,as M -.
Schon,' and shall be stvIsd pay
Parish n OF City of New Orb
,,st dm bonds shall ne or = kIlL
axcent ~. W one thousand q,
s.rep. mat at the option
~ hi. ~ oe indicated in and & ~ 4
Of Wv. ill., hu bonds of the de. IA 1
20 such thdi dSe dollars may N
NJ. oiaosr II successful.
bonds ! ISr,nT,cipal and interest OF =.
the IrritaS' e ne payable in gold coin OF
standard 90 states equal to the present
same NAV weight and fineness, or
iirg or ~ De expressed In pounds star-
, rate 20 VI IN franc. and at such arbitrary
',iSs tt u, e1Change, as said Board Of Lid
u' SaiH city, Debt may determine,
said bonds shall be signed nv tho
~ ~ ~ ana secretary respectively,
@. tne Board OF Directors of The prh,;o
s sSnu - Tor the Parish Of Orleans, and
snnt oe countersigned by the pres,-
tha sa vi one Of the vice presidents. and
ton, City Debt. '0 "a '''qu'aa
The interest nm so;d how'd. ..,,,
evlnced by interest COUPONS at 'a ed
t.,u bearing the facsimile sigma
w. 49, vi the secretary Of the Board of
r ,,i: or the Public Schools for the
Iat,sn or Orleans and the Secretary
" we hoard Of Liquidation, CITY Debt
!Issspss..Eeiy, and shall be pavahle on
s .m,, tirs DAYS Of July and January re-
sbo,, Theis IN each year; said interest
nr a oe payable in the City of New
pnarS ana IN such other cities as the
dstarn,, oi Liquidation. City Debt. may
tion or the said respective interest coli
p ons, provided. however. that such
o W snail be designated by the Board
o. o. LIQUIDATION, City Debt. and announc-
GU IN !ne advertisement calling for
competitive bids; and provided, furth-
81, ,hat the principal Of said bonds
s sIali De payable only in the City of
New orleans, State Of Louisiana.
Sa,u ponds may be registered and
r.ieaseu from registry under such
rales and regulations as the Board Of
Liquidation, City Debt. may deter
mine; shall be exempt from taxa
tioh; state, parish and municipal
snall De legal investment for the tu-
tors OF minors and curators of inter-
uiCtsv and shall be received as secur-
~ Tor public deposits Of the State Of
thereof.
Section 2. Be 1t further enacted, etc,
Inat as soon as constitutional authori-
~ lot the issuance Of said bonds shall
nave peen obtained, the Board of Direc-
tors Of the Public Schools for the Par
ism or Orleans shall by resolution
adopted by a majority Of the members
thereor IN regular or special meeting
called for that purpose. call upon the
Hoard OF Liquidation City Debt, to ad-
Vertise for the sale Of said bonds When
30 called upon, 1t shall be the duty Of
the Board Of Liquidation. City Debt.
to advertise said bonds for sale In the
official Journal Of the City Of New Or
leans and in such other newspapers in
financial centers as the Beard Of Lioui-
dalton, City Debt, may determine.
Said advertisement shall appear in
each OF said newspapers for thirty (3o)
Gays Immediately preceding the date
fixed for the receipt Of bids: and the
SAID bonds shall be adjudicated and
SOLD. under sealed bids or proposals, to
the highest bidder who shall have COM
piled with the terms and conditions set
OUT py the Board Of Liquidation, City
Dept, IN the advertisement for said
bids: provided that no sale Of said
ponds shall be made unless all Of said
price obtained for the different matur-
tiles shall at least equal par and ac-
crued Interest for the entire issue.
The Board Of Liquidation, City Debt.
shall have the right to reject any and
all bids.
Section 3. Be It further enacted. ETC.,
Thai when the said bonds shall have
Men AdJudicated. as hereinafter set
aorth II shall be the duty Of the Board
= liquidation. City Debt to immedis
sSEs sssa DS Sas e as ps ensraons
yable In the currency Of such
( NY or countries as the successful
ner or bidders may have indicated
II the Board OF Liquidation. City Debt.
letermined. as the case may be-
Il The Board Of Liquidation. City Debt.
Mall have the right to prescribe the
AMOUNT of the deposit that shall accom-
nany each bid. the conditions under
which same shall become forfeited. the
time within which the bonds shall be
delivered after the adjudication. and,
generally all terms and conditions ap-
pertaining to the bids and adiudica-
ton not otherwise provided for BY this
act.
Section 4. Be it further enacted,
etc. That the Board Of LIQUIDATION
City Debt. shall deposit the proceeds
OF the sale Of said bonds in such local
PAM. or banks as may become the sue
In Proportion to the amount Of their
respective bids. upon furnishing secur-
!ty satisfactory to the Board Of Lioui-
1atiq. City Debt. and at such rate Of
interest as the Board Of Liquidation,
city Debt. may fix and announce In the
advertisement calling for bids. In the
event that the successful bidder or bid
lers Ior al or any part Of the said
oonds shall b. some person. rirm or
corporation other than local bank,
bonds awarded to said successru, hid
Ter or bidders shall be deposited in
!uch local bank or banks and at such
ate Of interest as the Board of Lioui-
lattoh. City Debt. may determine,
All payments made by the Board Of
0lrectors of the Public Schools for the
,arish Of Orleans shall be made in the
orm or warrants or drafts on the
soard Of Liquidation. City Debt, setting
ortn the amount thereof. the person
. wnom payable and the purpose for
soard Of Liquidation. City Debt. is
I ere charged with the duty Of taking
are that no irregula- or improper or
lniawful payments are made out OF
aid funds
Section S. Be II further enacted
te., That the annual installment ~
'rincipal amounting to fifty thousand
oHars ($5o,0o0) and the interest on
aid bonds shall be payable out Of the
ne.half OF the surplus Of the one per
EN-, ent, debt tax levied by the City Of New
,rieans by virtue Of Article SIT or the
dopted in the year 1918, and dedica.
60 Tor the use of the public schools
I the Parish of Orleans. after provid.
ne for the nrincinal ard in4>..x