St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-01-01


the hours when the polls shall be
opened and closed, and naming three
commissioners and one clerk OF cleo
ton: and fixing the date and place
when the Mayor and Board OF Alder
men shall meet to canvas the returns
of said election and promulgate the
result thereof; authorizing the May
or and Clerk or the Mayor and Board
of Aldermen, In the event the prop
erty taxpayers approve the aincurTing
of the Indebtedness and the issuance
of the bonds as herein proposed. to
sign and execute said bonds and the
same to sell at not less than par ae-
cording to law. s.
Providing that this ordinance
whom adopted BY the property tax
PAYERS of the town Of COyington,
and after the bonds herein author
lied to be issued shall have been
issued and sold that this ordinances
shall become and remain irrepeal;
able 30 long a. any OF the said bonds
or the interest thereon. shall remain
unpaid; repeating all ordinances or
parts of ordinances In conflict here
with; and providing when this oEdi-
nance shall 60 into effect.
Whereas, 1t IL believed By the Nay
or and Board Of Aldermen Of the
town Of Covington. louisiana, nee
5essary and for the best interests Of
said town and the Inhabitants there
Of that q waterworks and sewer sys-
tenn should be constructed within the
corporate limits OF the town; and
Whereas, the ordinary revenues Of
the town are insufficient to construct
said waterworks and sewer system,
and In order to undertake such work
It Ia necessary TO raise funds in the
manner provided by law: and
Whereas, under the constitution
and laws Of the State Of Louisiana
the governing authority Of the town
Of Coyington is permitted to Issue
such bonds when authorized by q
vote Of q 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 Louisiana at an cleo
ton held for that purpose; and
Whereas, under the authority OF
the favorable vote Of such taxpayers
ct such election the governing au-
thority Of the said town Of Covington
may annually levy and collect special
taxes in excess OF other taxes TAI
sufficient to pay the installments OF
interest and principal Of said bonds
falling due each year as may be re-
quired for q sinking fund for the
payment Of the bonds at maturity
provided such special taxes for all
purposes shall not In any year OK
coed the limit prescribed BY the con.
stitution Of ten mills on the dollar
of the assessed valuation Of the
property Of the town, aud to issue
negotiable bonds not to exceed ten
per centum Of tie assessed valuation
Of the property Of the said town; and
Whereas, the assessed valuation
OF the said town Of Covington, al
the present time equals the amour,
OF seven hundred and fifteen thou
sand two hundred and sixty-foul
(715,264.00) dollars; and
Whereas, It has been and 70 NOW
hereby determined BY the Mayor and
Board Of Aldermen Of the town Of
Covington, La. to submit to the
property taxpayers qualified a. elect.
ors under the constitution and laws
Of the State Of Louisiana the follow.
ling proposition: va sss.sl
Shall . debt be incurred by thu
town Of Cuvingt0n, In the su,a Of
|,Seventy-One Thousand Dollars and
| negotiable bonds be Issued In SAID
amount, bearing interest at the rate
OF five pc, cent per annum payable
semi-annuallJ. the principal Le sad
bonds becoming payable within 81
years after their date, and issued in
such denominations, payable at such
time, and In such installments with
such other details relating thereto
- shall be determined by the Mayor
and Board of Aldermen and author.
lied by the constitution and laws o.
the State Of Louisiana. The funds
realized from the mourning of sale
debt and the sale Of said bonds te
be- used for the purpose Of construct
ing a waterworks and sewer systen
in said town, the title to which shall
vest in said town Of Covington; and
Whereas, In the event said indebt
edness designated in the foregoing
proposition shall be authorized b.
the taxpayers to be incurred and
bonds shall be issued therefor, til
Total Amount Of thu indebtedness n,