St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1915-12-11
CONVICTION COUNCIL PROCEEDINGS,
IN WHICH PLAN IS PROVIDED FOR THE
WATERMoRkS AND SEWERAGE SYSTEM

)llh0 Allu dN
land laws of the statee OF Louisf4ns
the governing authority Of the town
OF Covington 10 permitted to issue
such bonds when authorized by a
vote Of . majoriay In number and
amount OF tue property taxpayers OF
the town Of Covington, qualified to
vote under the constitution and laws
OF the State Of L0uisiana at IN cleo
tion held for that purpose: and
Whereas. under the saath0rity OF
the %fevofsble vote of such taxpagHre
at such election the governing au-
thority of-the said town Of Covington
may annually levy and collect special
taxes in excess Of other taxes Z tax
sumeiedt 70 pay the siAst1llhSAlb g0f
interest and principal Of said bonds
falling due e9eh yoaT saspmoy Abesre-
/ Quired for q sinking fund for the
payment Of the bonds at maturity,
provided such special taxes for Ill
purposes shall not In any year ex-
tceed the limit rfestfibed BY the con-
stitution Of ten mills on the dollar
Of the xsss11ed v1luAti6n o1 the
property Of the town, and to Issue
negotiable bonds not to exceed ter
per centum Of t.-e assessed valuation
Of the property Of tie akl9 town: md
Whereas. the assessed valuation
tot the said town Of oCoti1StoH, III
the present time equals the amount
Of seven hundred aad- Afteeas thou
sand two hundred and sixty-four
(715.264.00) dollars; and
Whereas. It has been and 10 now
hereby detefmined BY tie Mayor md
Board Of Aldermen of the town of
Cov1ngton, La, To submit to the
property taxpayers qualified - elect
ors under the constitution and laws
Of the State OF Louisiana the follow
ing proposition:
Shall . debt be incurred ~ the
town Of Ce.vtngton. In the suaa Of
Seventy-One Thousand Dollars and
negotiable bonds be issued in said
|arloual, bearing interest at :he rate
|ol tive pc, cent pc. annum payable
seni-annuall3, the :rincipal .t 5. !
bonds becoming payable within 81
such DENOMINATIONS, payanleN 1t such
time, and In such tnstallments with
such other details relating thereto
20 shall be, determined by the Mayor
and Board Of Aldermen and author
lied by the constitution andl laws Of
the State Of Louisiana. The funds
realised from the incurring of said
debt and the sale Of said bonds to
be used for the purDoDe Of eonatruct-
ing Q Waterworks and sewer system
in said town, the title to which shall
vest In said town Of Covlngton: and
Whereas, IN the event said indebt-
edness DESIGNATED IN the foregoing
proposition shall be authorised by
the taxpayers to be incufrel and
bonds shall be- issued therefor, the
total amount Of the Indebtedness OF
said town (includtng said bonds)
shall be within the constitutional
limit of ten per centum on the a.
sessed valuation Of the property OF
said town, and the special tax to 5e
annually levied to pay the install
ments Of interest and principal OF
said bonds as they respectively tall
due with. all other special txxSs and
to be levied for other lawful ptrpos.
ed will be within the limit prescribed |
by the constitution, Of ten mills on I
the dollar of the assessed valuation |
Of the property within such town |
prescribed BY the c6n1titntfon:
Now, therefore, be It ordainel by |
the Mayor and Board OF Aldermen Of |
the town Of Covington, In regular |
session convened:
Section l. That the town Of Gov.
ington incur Z debt Of Seveuty-One
thousand ($71.O00) Dollars to be
used for the exclusive purpoSs OF
erecting and eQuipplng |
I waterworks and sewer system In
the town Of CovlnGton, LOUISIANA,
for supplying to the Inhabitants Of
said town Of Covington. Louisiana.
water and sewerage, title to such (
system and plant shall be vested In
the said town Of Covington.
Be It further ordained, etc:
Section 2. That rs representing !
said Indebtedness said town Of Cow
ington do issue said bonds bearing
the date Of February 1st. 1916. with
ave per cent per annum Interest
from date, payable semi-annually on
the 1st day Of February and the last
day Of August. each year. in the spe-
cifc amounts and maturities. as fol
lows: ..s..
10 bonds Of $4,000 each. two Of
said bonds maturing on February 1st
Of each year. from 1917 to 1921,
both inclusive. 55sa
Is bonds Of $4,000 each. three
Of said bonds maturing on February
1st Of each year from 1922 to 1926,
both inclusive.
20 bonds Of $5o0.oo each, four Of
Daid bonds maturing on February 1st
pf each year from 1897 to 1881. both 1
Inclusive. s..g-5-.. ..zs..s..-
IS bonds Of $4,000 each. flvs OF
,aid bonds maturing on February 1st
of sach year from 1882 to 1886,
both inclusive. II
80 bonds Of $4,000 each. six of
aid bonds maturing on February lat
81 each year from 1887 to 1S41. I
both inclusive.
q bonds Of $4,000 each, seven
81 said bonds maturing on February
lot OF each rear from 1943 % 1S47.