The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1914-10-17

salt bonds shall be of the aero! lination
Of IN thousand cellars Hach, exc pr mat
at tn option Of any bidder, To )e inol-
Gated in aad as part II his bi' bohJs
ot lht denomination OF i've Hund e. dol
lars iay be issued 10 such bldde; II sue
ccs5tl l.
The ptiaciual and interest Of 50 bonds
shan % payable III gold coin. OF tn, United
States equal to the present stan lard OF
weight and tineneSS on same may be en-
pressed in pounds sterling or in frame, and
at such arbitrary rate OF exchange as
said Board Of Liquidation, City Debt, may
Said bonds shall be signed by tie pres
ident and secretary, respectively, OF the
Board of Directors OF the PUBLIC Schools
for the Parish of Orleans, and shall be
countersigned by the president, OF one OF
the vice presidents, and the secretary of
the Board OF Liquidation. City Debt
! The interest on said bonds shall be EVIL
denced by interest coupons attached there
to bearing the fac-simile signatures OF
| the secretary of the Board of Directors OF
The Public Schools for the Parish OF Or
leans and the Secretary of the Board OF
| Liquidation, City Debt, respectively, ana
shall be payable on the first days of July
| and January, respectively, IN each year,
said interest shall be payable in the CITY
of New Orleans and i'll such other cities
as the Board of Liquidation, city DEBT,
/ may determine upon surrender ana cancel
latioh OF the said respective interest cou-
lponS; provided, however, that such cities
shall be designated by the Board OF liqui-
dation. City Debt, and announced III the ad-
!
and provided, further, 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 re-
leased from registry under such rules ana
regulations as the Board OF Liquidation,
City Debt, may determine; shall be eN,
empt from taxation, state, PARISH ana
municipal, shall be a legal Investment for
the tutors of minors and curatorS OF IN
terdicts; and shall be received as security
for public deposits of the state OF Loulsi-
ANA or any political subdivision thereof.
! Section 2. Be it further enacted, etc.
! That as soon constitutional authority
for the issuance of said bonds shall nave
been obtained, the Board OF directors OF
the Public Schools for the Parish of Or
leans shall. by resolution adopted by
majority of the members thereof in reg
ular or special meeting called for that
purpose, call upon the Board of Liquida-
tion City Debt, to advertise Tor the saie
of said bonds. when so called upon, 1t
shall be the duty of the Board of l4iqulda-
ton City Debt, to advertise said bonds FOR
sale in the official journal of the CITY OF
New Orleans and in such other news,
papers i'll financial centers as the Board
of Liquidation City Debt. may determine.
Said advertisement shall appear IN each
of said newspapers for thirty GOD days
Immediately preceding the date fixed Tor
shall be adjudicated and sold, under seal
ed bids or proposals. to the highest bidder
who shall have complied with the terms
and conditions set out by the Board of
Liquidation, City Debt. in the advertise
ment for said bids: provided that no sale
of said bonds shall be made unless all OF
price obtained for the different maturitles
| shall at least equal par and accrued IN.
: terest for the entire issue. The Board of
Ia Reject t' any ana all Hnb BIDS nave e
Section 8. Be it further enacted. etc,
| That when the said bonds shall have been
shall be the duty of the Board of Liqui-
, dation. City Debt, to immediately cause
| said bonds to be engraved and executed
in such denominations and payable in the
, currency of such country or countries as
: indicated or the Board OF Llquldation
5 City Debt determine. as the case may pc
sn dhe b B0srd th of rsBt to eK
: amount of the deposit that shall accom-.
t pany each bid. the conditions under wnlcf
same shall become forfeited. the tlmt
within which the bonds shall be deliveres
i after the adjudication, and, generally, al
I terms and conditions appertaining to thu
, bids and adjudication not otherwise pro-
+ yided for by this act
a Section T. Be it further enacted. etc.
: That the Board of Liquidation, CITY Debt
E shall deposit the proceeds of the sale o.
. may become the successful bidder or bid
4 ders for said bonds in proportion TO I'M
9 amount of their respective bids. upon FUR
> nishing security satisfactory to the Boar!
of Liquidation, City Debt, and at sucl
:, rate of interest as the Board of Liquida
, , ton, City Debt. may fix and announce II
i
event that the successful bidder or bid
,, ders for all or any part OF the SAID pond
:, shall be some person, firm or corporatloi
s other than local bank; then the process TO- sei
= successful bidder or bidders shall pc dc
% posted in such local bank or banks am y
l. at such rate of interest as the board
i Liquidation City Debt. may determine
III All payments made by the Board OF Z
'r rectors of the Public Schools for the =
ish of Orleans shall be made in the
he Il ftc a
~ liquidation. City Debt, setting for
a Y, amount thereof. the person to VIII"
il able and the purpose for which
Is ment is made; and the Board q
a ton, City Debt is hereby CHI
he she duty of taking care that Z
all IS Is. improper or unlawful pa
he 'Ssae out of said funds.
to Tha sfeion 5. Be it further
err. a,nnr,r,ine annual installme#
c., aooI o ANA to fifty thousa1s
let let be r., pa y out Of the one -
C.. Article x tcie 81 q q H tss o o
in State of Louisiana. sS 1ns
he 1913, and dedicated r.
er, public schools of the
he after providing for the
ID terest on the Oh hpn
four thousand,
de dollars ($17b->
nd bonds know
AK Bonds of tt
of thoriZed by
of of 1906, andN
tor amendment
L." State; and tn
c. plus of the
in to the ely
Is: above i'm
TO- dedicated
he the bonds
nd in principa
he of Liquida,
nv rected to Ell
re necessary tt
act; provide
es ed shall otl
pair, the pr ~
i J J i ]
re- Constitution A
- Section 6. u nv ~
That the Boa. " IA
oa shall, on the I'm
and annually RN
70 Ififtythousand AI
pal sum of f7V
schedule Of re ~
H. by the Board <<-NA "a
NY. and announce u MNiGyG~E4H
vertisement aExk*I 1
the Section T. lyasrwssA
Dr. That in ordf ..<drsss, Il 81 I1.syA
Of Directors Of No. saAESs.
ing Parish of g. "a 8lIk SsTTsHxx 8 I'M
Id payments E&SxakA
the City Debt, kHAA. y ESSytS$szSA !
the out of said u.s. Elm Es9STk33SS%8xa$s
aid one per ceTNY1EI<X/X>A |ESzzUEA
md Orleans shalEtS.tScLy[A, WfFx3sJ
the duty to pay L(L[X/SMA
de- ton, City Deb3xkr<IX<14s&
ui- the first day oS&xS/LEsSA ~
18th thereafter up tpS[x%/EN
DIS 1894 the sum Nk><N~H NM