The Natchitoches enterprise. (Natchitoches, La.) 1888-1965, 1914-10-29

LnetalImenO OF lily CnOuSdHu oohaiO
Eb0,00o) each, payable on the first day
OF January in each of the years 1917
to and including 1865, respectively, as
hereinafter set forth.
Said bonds shall be made payable to
bearer. and shall be styled Pubic
School Bonds. City of New Orleans anu
Parish of Orleans"
Said bonds shall be of the denom-
ination of one thousand dollars eacn'
except that at the option of any old.
der, to be indicated in and as part
of his bid, bonds of the denominatlon
Of five hundred dollars may be Issued
to such bidder II successful.
The principal and interest OF sa1d
bonds shall be payable in gold coin OF
the United States equal to the present
standard of weight and fineness, OF
same may be expressed in pounds ster-
ling or in franc, and at such aroltrary
rate of exchange as said Board OF LID
uidation, City Debt may determine'
Said bonds shall be signed by the
president and secretary, respectively,
of the Board of Directors IF the PUBLIC
Schools for the Parish of Orleans, ana
shall be countersigned by the presl
dent, or one of the vice presidents, ana
the secretary Of the Board OF Llquloa-
ton, City Debt
The interest on said bonds shall be
evineed by interest coupons attached
thereto bearing the fac-simile SIGMA
lures of the secretary of the Board OF
Directors of the Public Schools for tne
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-
spectfvely. in each year; said lnterest
shall be payable in the City OF ne"
Orleans and in such other cities as the
Board of Liquidation. City Debt, may
determine upon surrender and canceIla-
ton of the said respective interest cou-
pons; provided. however, that sucn
cities shall be designated by the board
Of Liquidation, City Debt, and announc-
ed in the advertisement calling ror
competitive bids; and provided, 1urth-
er, that the principal of said bonds
shall be payable only in the City OF
Said bonds nay be registered and
rules and regulations as the Board of
Liquidation. City Debt. may deter
mine; shall be exempt from AKA
shall be 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 or
Louisiana or any political subdivision
thereof
Section 2. Be It further enacted, etc,
That as soon az constitutional authori-
ty for the issuance of said bonds shall
tors of the Public Schools for the Par
adopted by a majority Of the members
thereof in regular or special meeting
called for that purpose, call upon the
Board of Liquidation, City Debt, to ad-'
vertise for the sale of said bonds When
80 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
financial centers ss the Board of Liqui-
dalton, City Debt, may determine.
Said advertisement shall appear In
each of said newspapers for thirty (So)
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 nave COM
out by the Board Of Liquidation, City
Debt. in the Advertisement for said
bids: provided that no sale of said
bonds shall be made unless all of said
price obtained for the different matur-
tiles shall at beast 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 X
Section 8. Be 1t further enacted etc,
That when the said bonds shall have
been adjudicated, as hereinafter set
forth 1t shall be the duty of the Board
of Liquidation. City Debt. to immedi-
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 Liquidation. City Debt,
shall have the right to prescribe the
amount of the deposit that shall accom-
which same shall become forfeited, the
time within which the bonds shall be
delivered after the adjudication, and,
generally, an terms and conditions ap-
ton not otherwise provided for by this
act.
Section e. 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
bank or banks as may become the sue
cessfu1 bidder or bidders for said bonds
in proportion to the amount of their
respective bids, upon furnishing secur-
fly 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
t7ers for all or any part of the said
bonds shall be Some person. rIrm or
corporation other than a local bank.
then the proceeds of the sale of the
bonds awarded to said successrlff bid
der or bidders shall be deposited in
such local hank or hanks and at such
rate of interest as the Board of Liqui-
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, lie
hereby charged with the duty of taking
care that no irregular or improper or
unlawful payments are made out of
said funds.
Section 5. Be IL further enaet.d..
etc, That the annual installment Of
principal amounting to fifty thousand
dollars ($5o,000) and the interest on
said bonds shall be payable out of the
cent, debt tax levied by the City of New
Orleans by virtue of Article SIT or ,ne
Constitution Of the State of Louisiana
adopted in the year 1918 and dedica-
ted for the use Of the public schools
ing for the principal and interest on
the one hundred-and seventy-four thou
sand, six hundred and sixty-tvo dol
lars .iS174.662).s in principal sum, of
airy Ponds OF the city of New orleans,
authorized by Act No. of the General
Assembly of the State OF Louisiana,
session OF 1905, and subsequently adopt
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-
fled and hereinabove immediately set
forth. Is hereby dedicated and pledged
authorized to be issued, in principal and
interest; and the Board OF Liquidation,
City Debt. 10 hereby directed to employ
said fund to the extent necessary to