St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1915-07-24
AN ORDINANCE

where.
AN ORDINANCE
Providing for the issuance and sale
Of school bonds Of School District
No. II of the parish Of St. Tam
many, La. to the amount Of twen-
ty-fve hundred ($2500) dollars.
Whereas. at q special election duly
and regularly held in school district
No. IL, of the parish Of st. Tam
many, Louisiana, on the second day
of July, 1915, in conformity to res
olution of this board ordering said
election, there was submitted to the
vote of the property taxpayers entitl-
ed to vote in said school district No.
IL, q proposition to incur debt and
issue bonds to the amount of twenty
five hundred ($2500) dollars, to run
not longer than five years from date
and to bear interest not exceeding
five per cent per annum, payable
semi-annually for the purpose OF con-
structing and furnishing q public
school building within said school
district No. II, title to which shall
vest in the public; and.
Whereas, the incuring OF said debt
and the issus nee of said bonds for
said purpose was duly authorized by
the vote of q majority in both num-
Der and amounts of votes cast at said
election; and,
Whereas; said debt has not been
incurred or said bonds issued,
Section l. Ee it resolved by the
parish board of school directors of
the parish Of St. Tammany, La, that
the president and secretary of this
board be and they are hereby au-
thorixed and directed to have pre-
pared and to execute in the name Of
the parish board of school direct
ors Of the parish of St. Tammany,
La, for and on behalf Of school dis
trict No. II Of said parish Of st.
Tammany, Louisiana, five go ne
gotiable bonds numbered from one
to i've, both numbers inclusive, and
in denomination Of i've hundred
($500) dollars each, bearing date Of
September 1, 1915, and being due
and payable as follows, to-wit:
No. 1, aggregating $500 on Sep
TENDER 1, 1916.
No. 2, ag~regating $500 on Sep
TENDER 1, 1917.
No. 8, aggregating $500 ON Sep
TENDER /. 1918.
No. 4. aggregating $500 on Sep
TENDER l, 1919.
No. 5, asgresatins $500 on Sep
TENDER /, 1920.
All Of said bonds to bear interest
1T the rate of i've per cent per an
mum payable sem-iannually on the
first day of March and September OF
each and every year until the. pay
ment Of the principal sum thereof,
both principal and interest, to be
payable at the ONCE Of the secretary
Of the parish board of school direct
ors in the town Of Covington, Lou
isiana, and said bonds shall be
known as School District No. IL
Bonds.
The interest Of said bonds shall
be evidenced by proper coupons at.
tached to each bond and both the
principal and interest of said bonds
shall be due and payable in gold coin
Of the United States Of the present
standard Of weight and fineness
Said bonds shall be signed by the
president and attested by the secre
tary Of this board.
Section 2. Be 1t further resolved
etc, That all of said bonds and all oil
said interest coupons attached there.
to shall be in substantially the fol.
lowing forms, respectfully:
United States Of America
State of Louisiana
Parish Of St. Tammany.
No. ........ 100000
School District No. IL Bonds of the
Parish Board of School
Directors
Know all men by these presents
That the parish board Of school di
rectors Of the parish of St. Tam.
many, State Of Louisiana, acknowl
edges itself to be indebted and fol
value received hereby promises t.
pay to bearer the sum Of five hun
dred $4,000 dollars on the first day
OF September, 49,, together will
interest thereon from date hereof un
til paid at the rate Of five go pei
cent per annum payable semi-annu
ally on the first day of September
and March of each year until ina.
payment hereof on the presentatio
and surrender Of his bond and thu
interest coupons attached a. they
severally become due.
Both principal and interest Of THU
bond are due and payable 1t the Of
nee OF the secretary of the parish
board Of school directors of the par
ish Of st. Tammany, in the town Of
Covington, State Of Louisiana, IL
gold coin Of the United States Of the
present standard Of weight and fine.
ness.
This bond is one Of q series oil
hve 90 bonds Of like tenor, date and
amount, issued for the purpose Of
providing funds to construct and
equip q public school building in