The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1914-10-17

! 9o.pVo' FaeI, paEaDie on the Llfsl uas
| o. January in each of the years 1al6
/ 20 and including 1855. respectively, as
/ hereinafter set forth
Said bonds shall be made payable to
bearer ard shall be : styled Public
Parish of 0rlea MS y
Said bonds shall be Of the denom-
nation OF one thousand dollars each.
/ except that at the option OF any bid
I Ger, to be Indicated in and as a part
or his bid, bonds of the denomination
! OF five hundred dollars may be Issued
to such bidder If successful
The principal and interest OF said
bonds shall be payable In gold coin OF
tho United States equal to the present
| standard of weight and ftneness. OF
ing or in franc. and at such arbitrary
rate or exchange. as said Board or L1q-
uidation. City, Debt. may determine.
/ Said bonds shall be signed by the
of the Board Of Directors OF the Public
Schools for the Parish Of Orleans, and
/ shall be countersigned by the presi-
/ dent. or one of the vice presidents and
/ the secretary of the Board of LiQu1da-
ton, City Debt.
The interest on said bonds shall be
/ evfneed by interest coupons attacnea
/ thereto bearing the fac-simile sigma,
| 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-
spectiyely in each year; said interest
shall be payable in the City OF New
Orleans and in such other cities as the
I Board of Liquidation, City Debt, may
/ determine upon surrender and cancella-
tfon of the said respective interest cou-
pons; provided, however, that such
/ cities shall be designated by the Board
Of Liquidation, City Debt. and announc-
4 Cd ir, ~ xfexar ny,k In
competitive bids; and provided. furth-
er, that the principal Of said bonds
shall be payable only IN the City of
New Orleans. State Of Louisiana -.
released from registry under such
/ rules and regulations as the Board OF
Liquidation. City Debt, may deter
! mine; shah be exempt from tssa,
| shall be a legal Investment for the tu-
tors of minors and curators of inter
| diets: and shall be received as sechf-
! ity for public deposits OF the State of
Louisiana or any political subdivision
| thereof.
| Section 2 Be ii further enacted, etc.
| That as soon as constitutional authort-
| ty for the issuance of said bonds shall
| tors of the Public Schools for the Par
ish of Orleans shall. by resolution
adopted by majority OF the members
/ thereof in regular or special meeting
Board Of Liquidation. City Debt, to adj
vertise for the sale OF said bonds When
SO called upon, It shall be the duty OF
the Board of Liquidation. City Debt.
official Journal of the City of New Or
leans and In such other newspapers in
financial centers as the Board of Liqui-
s sa CITY psn sha NAY n
each of said newspapers for thirty l3o)
days Immediately preceding the date
fixed for the receipt OF bids; and the
SAID bonds shall be adiudicated and
sold. under sealed bids or proposals. TO
the lTghest bidder who shall have COM
piled with tfae terms and conditions set
out by the Board Of Liquidation, City
Debt. n the advert Iseniant for said
bonds be made unless all Of said
price Oh "a for the different rnat1ir-
tiles 81 at least equal par and ac-
The Board OF Liauidation. City Debt.
shall have the right to reject any and
all bids
Section g. Be 1t further enacted. etc.
That when the said bonds shall have
been adjudicated. as hereinafter set
forth, it shall be the duty of the Board
Of Liquidation. City Debt, to irnmedi-
ately cause said bonds to be engraved
and payable in the currency of such
country or countries as the successful
bidder or bidders may have indicated
or the Board of Liquidation, City Debt
determined. as the case may he.
The Board Of Idquszation, City Debt
shall have the right to prescribe the
amount of the deposit that shall accom-
pany each bid. the conditions under
time within which the bonds shall be
delivered after the adjudication, and.
generally. all terms and conditions APP
pertaining to the bids and adjudica-
%ior, OF 9th leo Ss& ror !, Az
act.
Section 4. Be 1t further enacted,
etc, That the Board Of Liquidation.
City Debt shall deposit the proceeds
of the sale of said bonds in such local
bank or banks as may become the suo-
cessful bidder or bidders for said bonds
in proportion to the amount Of their
respective bids upon furnishing secur
ity satisfactory to the Board Of Liqui-
dation. 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
ders for all or any part of the said
bonds shall be some person. rrrm or
corporation other than local bank,
then the proceeds of the sale of the
der or bidders shall be deposited In
such local bank or banks and at such
rate of interest as the Board of Lfqut-
dation, City Debt may determine
All payments made by the Board of
Directors of the Public Schools for the
Parish of Orleans shall be made In the
form OF warrants or drafts on the
Board of Liquidation. City Debt. setting
forth the amount thereof, the person
to whom payable and the purpose for
which the payment is made; and the
Board of liquidation. City Debt. is
hereby charged with the duty Of taking
care that no Irregular or Improper or
unlawful payments are made out of
said funds
Section s.. Be It further enacted.
etc, That the annual installment of
principal amounting to fifty thousand
dollars fs56,oo0) and the interest on
said bonds shall be payable out of the
one-haIf of the surplus of the one per
Orleans by virtue Of Article 317 or me
Constitution Of the State of Louisiana
saasapt TED IN the year 1918, and dedica-
Ps the use Ct r,e ehn pue p1ar schools
ing for the principal and interest on
the one hundred and seventy-four thou
sand. six hundred and sfxty-two dol
bonds known as school Teachers sal
airy honds of the City of New Orleans
authorized by Act No. of the General
Assembly of the State OF Louisiana,
ed as an amendment to the Constitution
of this State. and the said one-half of
the surplus of the one per cent debt
tax, subject to the exceptions speci-
lied anu HeFsiIldBVNe IHlInedldteIy ser
FORTH is hereby dedicated and pledged
to the payment of the bonds hereby
authorized to be issued. in principal and
Interest: and the Board OF Liquidation,
City Debt is hereby directed to employ
said fund to the extent necessary to
carry out tRe purpose of this act: pros
vided that nothing herein contained
shall otherwise change. affect or i'm
pair. the provisions Of Article 31F OF
the Constitution OF this State.
Section g. Be It further enacted.
etc, That the Board of Liquidation, City