Lower coast gazette., 1914-03-28

Levee District has applied to the Whit
ney Central National Bank of New Or
leans, to advance to it the sum O.
Fifty Thousand Dollars $3.50, 600. 90,
which amount the said Bank has agreed
to advance upon the note of the Boart
OF Commissioners for the Lake Borgn,
Basin Levee District, secured by {
pledge Of all its revenues for the pres
ent year, 1914, except such portion
thereof as is by law dedicated to the
payment Of interest on bonds.
And the said appearer further de.
clared for and in behalf of the sale
Board of Commissioners for the Lake
Borgne Basin Levee District, that the
said Board has now outstanding bonds
in the sum Of One Hundred Thousand
Dollars ($100, 600. 00) and no more; that
all interest due to dale upon the cut
standing bonds has been paid; that the
interest which will be due upon said
bonds during the year 1914 will amount
to Five Thousand Dollars (S5, 0O0. O0)
and no more; that no sum is required
by law to be set aside or paid during
the year 1914 as a sinking fund for the
retirement of any bonds,
And now the said Board of Commits
sioners for the Lake Borgne Basin
Levee District, appearing through its
SAID officer, does now further declare
and acknowledge that the Whitney
Central National Bank has advanced to
it in cash, at the execution of these
presents, the sum of Fifty Thousand
Dollars $3.50, 600. COY the receipt of
which is hereby acknowledged and for
which the said Board of Commissioners
for the Lake Borgne Basin Levee Dis
trlct acknowledges itself indebted unto
the said Bank, hereby ~confessing judg-
ment in favor of said Bank, and all fu-
ture holders of said note, for the said
sum of Fifty Thousand Dollars $3.50, 900
00) with all accrued interest.
And to represent the said sum of
Fifty thousand Dollars so advanced,
the said Board of Commissioners for
the Lade Borgnc Basin Levee District
has, at the execution of these presents
made and subscribed its promissory
note, drawn to the order of the said
Bank, dated this day, payable on the
l5th'day Of January, 1915, in the sum
Of Fifty Thousand Dollars ESQ, 600. OO)
with six per cent interest from ma
turity until. paid.
|. Which note, after having been para
phed Ne Varietur for Identification
herewith by the undersigned Notary,
has been delivered to the said Whitney
Central National Bank, here represent
ed by Sol Wexler, its duly authorized
president, here present and accepting,
and acknowledging receipt of said note
And now, to secure the full and
punctual payment as and when due,
of the said note, in principal and inter-
est. the said Board of Commissioners
for the Lake Borgne Basin Levee Dis
trict, through it's aforesaid officer, does
hereby pledge, pawn, transfer, assign.
make over and deliver, and set aside
and apart unto the Whitney Central
National Bank, herein represented as
aforesaid, here present and accepting,
and unto any future holder or holders
of said note, all of its revenues for the
current year, 1914, not specifically. ap.
propriated by law to the payment Of
interest on outstanding bonds. And
the said Board Of Commissioners for
the Lake Borgne Basin Levee District
does hereby irreyocably authorize and
direct the Auditor and Treasurer of the
State Of Louisiana, after paying all in
terest due in the year 1914 On outstand-
ing bonds, to set apart. and hold aside
all funds or revenues accruing during
or for the year 1914 to the credit Of the
Board of Commissioners for the Lake
Borgne Basin Levee District, and to
pay out and disburse no portion thereof
after paying interest due, for any 9TH
er purpose whatsoever, than the pay
ment and satisfaction Of the note
above described, paraphed for identifi-
cation herewith, and the interest there
on.
The said Board of Commissioners for
the Lake Borgne Basin Levee District
hereby acknowledges that, having by
these presents irrevocably pledged, ded-
icated and set aside all Of its revenues
accruing during and for the year 1914
latter the paymedt of interest on
bonds) to the payment of the within
described note. in principal and interest
it is without authority to issue any
warrants or other obligations secured