St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-04-22

: for the payment. OF the bonds ~ ma
turity. provided such SPECIAL taxes
for al purposes shall not IN any
year exceed the limit prescribed l.,
! the constitution OF ten mitls on this
dollar OF the assessed valuation u
the properly Of the town. anu u
Issue negotiable bonds not 70 exceed
|. tan -per centum Of the assessed valu.
alton Of the property Of the said
toWn: and.
h. WAereas, the assessed valuation OF
tina said town Of Covington, at the
present time equals the amount OF
Seven Hundred and Fifteen Thous-
aud Two Hpndred and Sixty-FouE
(x715. 263.OOl Dollars; and.
--.s Whereas. - has been and u now
hereby determined By the Mayor and
board OF Aldermen Of the town OF
Coyington, La, to submit to the
property taxpayers qualified - cleo
tors under the constitution and laws
OF the State Of Louisiana, the fo;s
lowing proposition:
Shall q debt be incurred by the
town OF Covingt0n, in the sum OF
Sixty Thousand Dollars and negoti-
able bonds be issued in said amount.
bearing interest at the rate OF nve
per cent per annum payable sema-
annually, the principal OF said bonds
becoming payable within 81 years
Of their date, and issued in such de-
nominations, payable at such time.
and In suck installnents with such
other details relating thereto - shall
b determined BY the Mayor and
Board Of Aldermen and authorised
by the consultations ana laws Of the
State OF Louisiana. The funds real
lzed from the incurring Of said debt
and the sale ot ,saiA bonds to be used
for the purpose Of constructing q
waterworks system In said town. the
title to which, shall vest in said town
Of Coyipgton. and.
Whereas, IN the event said 1ndebt-
,e9ness Cdeea1atedl IN the foregoing
proportion. shall b. authorized by
the taxpayers to Do incurred and
bonds shau he issued therefor. the
total amount Of the indebtedness OF
said town (including said bonds)
shall be within the constitutional
limit Of ten per ceptum on the as
sossed valuation OF the property Of
said town, and tho Especial tax to be
annually levied to pay tho install
ments Of interest and principal OF
said bonds - they respectively fall
due with al other special taxes
levied and to 30 levied for other
lawful purpoeee will be within the
limit prescribed By the constitution.
OF ten mills on the dollar Of the as
sessed valuation Of the property
within such townaprescribed by the
constitution:
Now. therefore. b It ordained BY
the Mayor and Board OF Aldermen
Of the Town Of Covington, in irregular
session convened:
Section /. That the town OF Gov
ington incur. debt OF sixty Thous
and ($eo.0oo) Dollars to be used
for the exclusive. purpose Of con-
erecting and equipping {
waterworksl system In the town
Coyington. Louisiana. for supplyin.
tho Inhabitants OF said town OF Cos
inGton, Louisiana, with water. Ia.
title TO such system shalt be ves;s
in the said town Of Covington:
Be It further ordained. etc.,
Section :. That as l4.resetnin
said Indebtedness said town si ~,
ington do issue leo negotiable aan,
numbered l to 80. both numbers i:
elusive. bearing date OF Juis
1916. with I'VE per cent per aGnar
interest from date. payab be ssm.
annually ON the, 18th day of Ju.
and the 18th day Of January, eacl
year In the specific amounts and ma.
TURTLES, ~ follows:
10 bonds Of $500 each, one @!
said bonds maturing July 18th OF
each year from 1917 to 1875. both
inclusivo.
10 bonds Of $500 each. two Of said
bonds nstlnng % July 18th of each
year from 1s37 70 1881, bon inclu-