The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1914-09-05

; shall be payable In forty (4o) annua
installments Of fifty thousand dollars
ts3v.oo0) each. payable on the first ga
or January in each of the years lsls
to aud Including 1855, respectively. al
hereinafter set forth.
Said bonds shall be made payable e
bearer. and shall be styled PUBIC
School Bonds City of New Orleans sne
Parish of Orleans"
Said bonds shall be OF the demon
nation Of one thousand dollars eacn
except that at the option of any DID,
der, to be indicated in and as par
OF his bid, bonds of the denomination
of five hundred dollars may be ISSUED
to such bidder If successful
The principal and interest OF sale
bonds shall he payable In gold coin OF
the United States equal to the pfeseh'
standard of weight and finenesS, Oh
same may be expressed in pounds ster'
ling or in franc. and at such arbitrary
rate of exchange, as said Board or Llq'
udation. 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 ana
shall be countersigned by the presl,
dent, or one of the vice presidents, ana
the secretary of the Board of Liquida-
ton. City Debt
The interest on said bonds shall be
eVinced by interest coupons attacneo
thereto bearing the fac-simile sigma
lures of the secretary Of the Board OF
Directors of the Public Schools for the
Parish of Orleans and the Secretary
of the Board of Linuida ton City DEBT
the first days of July and January. re-
spective1y, in each year; said interest
shall be payable in the City of New
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-
pons; provided. however, that such
cities shall be designated by the Board
ed in the advertisement calling for
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.
Said bonds may be registered and
released from registry under such
rules and regulations as the Board OF
Liquidation, City Debt, may deter
ton: State. parish and municipal
shall be legal investment for the tu-
tors of minors and curators of inter
diets; and shall be received as secur.
| 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 authori-
! ty for the issuance of said bonds shall
| have been obtained the Board of Direc-
tors of the Public Schools for the Par
ish Of Orleans shall. by, resolution
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 adj
vertfse for the sale of said bonds When
so 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 Board of Linui-
02J1on flPhf 6afarrnina
Said advertisement shall appear in
each of said newspapers for thirty 600
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
the 1eghest bidder who shall have COM
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
bonds shall be made unless all Of said
price obtained for the. different mat1r-
tiles shall at least equal par and &C
crued interest for the entire issue
The Board of Liquidation, City Debt,
all bids.
Section 8. BE it further enacted. etc.
That when the said bonds shall have
been adjudicated, as hereinafter set
of Liquidation. City Debt 70 immedi-
ately cause said bonds to be engraved
and executed in such denominations
and payable in the currency of such
bidder or bidders may have Indicated
or the Board of Liquidation. City Debt. |
determined, as the case may be.
~, The Boa, Board -, Of Liqui&ation,~ City Debt,
amount of the deposit that shall accom-
rany each bid. the conditions under
which same she'll become forfeited, the
tine within which the bonds shall be |
13I1IS
generally. all terms and conditions ap-
pertaining to the bids and adiudica- |
ton not otherwise provided for by this
act. ILLS
Section 4. Be It further enacted
etc. That the Board Of Lioufdatiop |
City, Debt, shall deposit the proceeds
or the sale of said bonds in such local |
bank or banks as may become the snc-
cessful bidder or bidders for said bonds
In proportion to the amount Of their
respective bids. upon furnishing secur
ity sat'sfactory to the BOARD Of Liqui-
interest as the Board of Liquidation.
City Debt, may fix and announce In tha
advertisement calling FOR bids In the
event mat the successful bidder or bid
ders for all or any part of the said
bonds shall be some person, r7rm or
corporation other than a local hank
' then the proceeds pr, of the sale Of the
ponds awarded to said successruy hid
der or bidders shall be deposited in
su t local bank or banks and at such
rate OF interest as the Board of Lioui
oat 40 ~ city Debt. may determine
Directors Of the Public Schools for the
Parish of Orleans shall be made in the
form or warrants or drafts on ~ |
Hoard s.1 Of q; Liquida ton: City Debt, setting
to whom payable and the purpose for
Board Of tiauidatio rs ~ citT n and the
hereby charged with the duty Of tai1,ne
' uaIe mat no irregular or improper or
payments are made ont of
said funds oot OF
Section 5, Be 1t further enac+ea
etc, That the annual installment of Of
Pp11hcrnal e aanmountfng to fifty thousand
said bonds shall be payable ont Of +b W.
one-half of the surplus Of the ono n rns
cent, debt tax levied by the. City Of New
Constitution of the State Of Louisia r'ae
adopted IN the year 1913. and dedina-
ted for the use of the public s nJ,,lca,
u the Parish OF Orleans. after proyid'
, hg Tor the principal and interest on
sand, six hundred and .sixty-two dol
ars Gl74662), in principal sum If
'onds Known as School Teachers Sal
',;t, aonds OF, OF. the City of New Orleans.
Assembly of the State of TouI eHenai
session of 1906. and subsequently, ador,a'
d as an amendment to the ConstitItjor
y IL TINS ,s state: and the said one-haIf of
ak. subject to the exceptions snani
led and hereinabove immediately sa4
orsh. is hereby dedicated and nledge5
o the payment of the bonds herebv
uthorized to be issued. in princinaI e,,ss
interest: and the Board ~oflLin1,iia tf i,,,'
ity Debt is hereby directed to emnlny
AID rund to the extent necessary ~
airy out the purpose of this act: pro-
otherwise Ia fH