The Donaldsonville chief., 1914-08-29

Of January in each of the years; 1915
to and including 1855, respectively as
hereinafter set forth.
Said bonds shall be made payable 70
bearer and shall be styled Puolle
School Bonds. City of New orleans Siu
Parish of Orleans"
Said bonds shall be OF the denon-
ination of one thousand dollars eaen' Az
except that at the option OF any pIu.
der, to be indicated in and as par
of five hundred dollars may be issued
| to such bidder II successful
| The principal and interest OF sela
| bonds shall be payable In gold com ~
| the United States equal TO the pleeelc ~
| standard of weight and flnehess, ~
ling Or in franc, and at such aEoa'1f@it ~ IT,.
| rate Of exchange. as said Board OF LAa
uidation. City, Debt. may determine
Said bonds shall be signed ~ sI1e l1s
| president and secretary, respectively,
of the Board of Directors OF the Paplls
Schools for the Parish of Orleans, ana
shall be countersigned by the pres,sz
| dent. or one of the vice pres1aents, anu
| the secretary Of the Board OIL LiqoAue'
tion. City Debt.
The interest on said bonds shall be be
evtnced by interest coupons attaeneo
| thereto bearing the fac-slmlle
| lures of the secretary of the Boaro %
/ Directors of the Public Schools for the the
Parish of Orleans and the secretary @
of the Board Of Liquidation. city Dept.
respectively. and shall be payaple oil
the first days Of July and January re.
spectiyely, in each year; said 1nteTess H1as
shall be payable In the City OF New
Orleans and In such other cities as tne
] Board of Liquidation. City DEBT, may
/ determine upon surrender and canceiia-
| ton of the said respective interest cou-
pons; provided however. that sucn
cities shall be designated by the Boaro
of Liquidation, City Debt, and announc- nc
| al i,, calling
err that the principal of said bonds
shall be payable only in the City OF
New Orleans. State of Louisiana .na
rules and regulations as the Board OF
Liquidation. City Debt, may deter
mine; shall be exempt from taxa TAXA
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
! thereof.
Section g. Be it further enacted, etc,
That as soon as constitutional authori-
ty for the issuance Of said bonds shali
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 esi ,nnn meetihe m
| pof1S'
Board of Liquida tion city Debt, to ad-
vertise for the sale of said bonds When
SO called upon. 1t shall be the duty OF
| the Board of Liquidation. City Dept
| 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 Lfoui-
dation City Debt, may determine. e.
each of said newspapers for thirty lSo)
| days Immediately preceding the date
| fixed for the receipt of bids; and the
said bonds shall be adjudicated and
the fSghest 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
bonds shall be made unless all Of said
issue be sold and unless the average
/ price obtained for the different matur-
tiles shall at least equal par and ac-
The Board of Liquidation, City Debt.
shall have the right to reject any and
| all bids.
Section 8. Be 1t further enacted etc,
| 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 Liqus4ation. City Debt,
shall have the right to prescribe the
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,
generally all terms and conditions ap-
pertaining to the bids and adjudica-
tion not otherwise nroyi6ed Por hx> +b;z
| act.
Section 4. Be 1t further enacted,
etc. That the Board Of Liquidation
of the sale OF said bonds In such local
bank or banks as may become the sue
| cessful bidder or bidders for said bonds
IN proportion to the amount OF their
| ity satisfactory to the Board OF Liaui-
dation, City Debt. ard 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
| ders for all or any part of the said
bonds shall be some person. rirm or
CORPORATION corp at other than a local bank
| bonds awarded to said successruY bid
der or bidders shall be deposited in
such local bank or banks and at such
| rate OF interest as the Board OF Lioui-
dalton. 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
Board Of Liquidation. City Debt setting
| forth the amount thereof. the nerson
to whom payable and the purpose for
Board the of is %ade tk ena the
hereby charged with the duty of taktns
care that no irregular or Improper or
unlawful payments are made out of
said funds. "
/ Rn P,r
etc. That the annual installment al
principal amounting to fifty thousand
dollars (s50,000) and the interest on
said bonds shall be payable out of the
| one-half OF the surplus of the one per
| cent, debt tax levied by the CITY Of New
| Orleans by virtue of Article sir or yne
Constitution Of the State OF Louisiana.
adopted IN the year 1913, and dedica-
| of the Parish Of Orleans, after nroVId7
Ing for the principal and interest on
the one hundred and seventy-tour thou
lars (s174.662), In principal sum, Of
bonds known as School Teachers' Sal.
ary Ronds of the City Of New orIeans
HsaembIg ~ Ass hs S9 9 Of +, the
session OF 1906. and subsequently adont.
| ed as an amendment to the ConstIfufion
| Of this State; and the said one-haIf ~
the the surplus surplus. Of the one pei. cent debt
fled and hereinabove Immediately SET
forth. is hereby dedicated and pledged
| 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 to
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 317 of
the Constitution of this State.
Section s. Be 1t further enacted,
etc, That the Board of Liquidation, City
Deht shall on first dn,r nf 70