The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1914-10-03

y TSD,opo1 CehIil pay oE S3tC - -
of January int each Of the years 1915
70 and including 1865. respectively, as
set forth
Said bonds shall be made payable TO
bearer: and shall be styled Public
School Bonds. City of New Orleans ana
Parish of Orleans.
Said bonds shall be of the denom-
nation of one thousand dollars each,
except that at the option of any p'd.
der, to be indicated in and as a 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 said
bonds shall be. payable In gold coin OF
the United States equal to the present
standard Of weight and fineness, or
same may be expressed In pounds ster-
ling Or in franc. and at such arbitrary
rate Of exchange. as said Board Of Lia-
uidation. City, Debt. may determine.
Said bonds shall be signed by the
president and secretary, respectively,
of the Board of Directors of the PUBLIC
Schools for the Parish Of Orleans, and
shall be countersigned by the pres.-
dent. Or one Of the vice presidents ana
the secretary of the Board of Liaulda-
ton, City Gebs.
eyinced by interest coupons attached
thereto bearing the fac-simile sigma.
lures of the secretary OF the Boaro ~
Directors of the Public Schools TOR the
-dItSll OIL oIi6dHS f1i1I LAG 49,
OF the Board of Liquidation. City Debt.
respectively. and shall be payable on
the first days of July and January, re.
spectively, in each year; said interest,"
Orleans and in such other cities as the
Board Of Liquidation, City Debt, may
determine upon surrender and cancella-
ton of the said respective interest cou-
cities shall be designated by the Board
of Liquidation, City Debt, and announc-
ed in the advertisement calling for
competitive bids; and provided. furth-
er, that the principal OF said bonds
New Orleans State of Louisiana.
Said bonds may be registered and
released from registry under such
rules and regulations as the Board OF
nine mir e;utNs snail be exempt from taxa
shall shall be sal legal Investment for the tu-
tors of minors and curators OF inter
diets: and shall be received as secuF.
ity for public deposits of the State OF
Louisiana or any political SUBDIVISION
thereof
Section 2. Be it further enacted, ETC..
That as soon as constitutional authorf-
ty for the issuance of said bonds shall
have been obtained. the Board OF Dfreo-
tors of the Public Schools for the Par
1sh of Orleans shall, by resolution
adopted by a majority Of the members
tHeISo1 III ieSdldi VI SPCSA0A AiASSe..AS
called for that purpose, call upon the
Board of Liquidation. City Debt, to ad-
vertise for the sale Of said bonds When.
so called upon. 1t shall be the duty OF
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 Board of Liqut-
dation, City Debt, may determine e;
each OF said newspapers for thirty (3o)
days Immediately preceding the date
fixed for the receipt of bids; and the
said bonds shall be adjudfcated and
sold. under sealed bids or proposals. to
piled with the terms and conditions set
out by the Board OF Liquidation. City
Debt. in the advertisement for said
bids: provided that no sale OF SAID
issue be sold and unless the average
price obtained for the different matur-
tiles shall at least equal par and 40
crued interest for the entire issue
shall have the right to reject any and
all bids.
Section 3. Be IT further enacted, etc.
That when the said bonds shall hava
forth, it shall be the duty OF the Board
of Liquidation, City Debt. TO immedl-
ately cause said bonds to be engraved
and executed in such denominations
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 be.
The Board OF LiqusSation, City Debt
amount Of the deposit that shall accom-
pany each bid, the conditions under
which same shall become forfeited, the
time within which the bonds shall be
delivered after the adjudication, and
,111 OIL md 1T.
pertaining to the bids and ad1udiea-
ton not otherwise provided for by this
Section a. Be 1t further enacted,
city Debt, shall deposit the proceeds
OF the sale Of said bonds In such local
bank or banks as may become the sue
cessful bidder or bidders for said bonds
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
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, firm or
corporation other than local bank
then the proceeds of the sale Of the
bonds awarded to said successruf bid
der or bidders shall be deposited in
such local bank or banks and at such
rate of interest as the Board of Tsiaui-
datfon, 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
to whom payable and the purpose for
Board Board Of liquidation, City Debt aa us Is
hereby charged with the duty of taking
10 M frrayJIJor5 r,,
unlawful payssar1ts are made out OF
said funds.
Section s.. Be IT further enacted
etc That the annuel i 11s..a Of
dollars (s5o,o0o) and the interest or
said bonds shall be payable out Of the
one-half of the surplus of the one PEI
cent. debt tax levied by the City Of New
Constitution of the State of Louisiana
adopted in the year 1918, and dedica.
ted for the use of the public schools
Of the Parish Of Orleans, after provid.
the one hundred and seventy-four thou.
sand, six hundred and sixty-two dol.
lars ts174,662), in principal sum, OF
buIds- ihuosvI -sof.oof.fs aeiIeTs sal:
authorized by Act No Of the General
Assembly OF the State of Louisiana
session OF 1905. and subseau emily adopt
ed as an amendment to the Constitution
OF this STATE, S1ld4 stIa6 5ebiG oHe-HalI o.
the surplus of the one per cent debt
tax, subject to the exceptions specs-
fled and hereinabeve Immediately sci
forth. Is hereby dedicated and jpledged
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 tc
carry out the purpose of this act; pro.
vided that nothing herein contained
shall otherwise change. affect Or i'm.
pair. the provisions of Article at OF
the Constitution OF this State.
Section s. Be II further enacted
etc, That the Board of Liquidation. Gifts
Debt shall on the, first daY Of Tanu