St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-04-08

tcrest shall be payable; fixing poll
ing place for said election and the
hours when the polls shall be open
ed and closed. and naming three
commissioners and one clerk of cleo
ton; and fixing the date and place
when the Mayor and Board Of Al
dermen shall meet to canvass the re-
curing Of the Indebtedness and the
turn Of said election and promulgate
the result thereof; authorizing the
Mayor and Clerk of the Mayor and
Board of Aldermen. In the event the
property taxpayers approve the in
issuance Of the bonds - herein pro-
posed, to sign and execute said bonds
ard the same to cell at Lot less shan
par according to law; providing that
this ordinance when adopted by the
property taxpayers Of the town OF
Ccvington. and after the bonds here
in authorized to be issu ID shall have
been issued and sold that this or
d;nance shall become and remain ir-
repealable so long Is any OF the
said bonds or the interest thereon
shall remain unpaid; repeating all
ordinances or parts Of ordinances in
conflict herewith; and providing
wien this ordinance shall go into eff
feet. all in accordance with the pro-
visions Of Article 281 of the Consti-
tuition and Laws Of the State OF
Louisiana.
Whereas, it is believed by the
Mayor and Board Of Aldermen OF the
town OF Covington. LOUISIANA. neces-
sary and for the best interest Of said
town and the Inhabitants thereof
tllet . waterworis system should be
constructed within the corporate
limits Of the town: and.
Wehfeas, the ordinary revenues Of
the town are insufficient TO construct
sal6 waterworks system. and in order
to undertake such work it ia neces-
sary to raise funds in the manner
provided by law: and.
Whereas, under the constitution
and laws Of the State Of Louisiana
the governing authority NJ the town
Of Coviugton. 10 permitted to issue
bonds when authorised bya vote Of
I majority in number and amount
Of the property taxpayers OF the
town Of Covington, qualified to vote
under the constitution and laws 81
the State OF Louisiana at an cleo.
ton held for that purpose; and.
whereas. under the authority OF
the favorable vote Of such taxpayers
at such election the governing au-
thority Of the said town Of Coving.
ton may annually levy and collec
| special taxes In excess of other taxes
a tax sumcient to pay the ihstal.
ments Of interest and principal
said bonds falling due each year
may be required for sinking fun
! for the payment Of the bonds at me
| turity, provided such special tave
for all purposes shall not in an
| year exceed the limit prescribed b
| the constitution of ten mills on ta'
| dollar OF the assessed valuation o
the property Of the town. and I
issue negotiable bonds not to exceed
| ten per centum Of the assessed valu
alton Of the property Of the said
town: and,
Whereas, the assessed valuation OF
the said town Of Covington. at the
present time equals the amount OF
Seven Hundred and Fifteen Thous-
and Two Hundred and Sixty-Foul
($715,263.0O) Dollars; and.
Whereas, It has been and is now
hereby determined by the Mayor and
Board Of Aldermen OF the town OF
Covington, La. to submit to the
property taxpayers qualified as cleo
tors under the constitution and laws
| of the State of Louisiana, the fol.
lowing proposition:
Shall n debt be incurred by the