St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-04-15

the event that the board is sued 70
the amount that the said town NJ
Covington should be cited in war.
ranty to protect the aforementioned
| agreement. Carried.
+, Moved by DR.. Farmer and second.
ed by Mr.. Kahl that the meeting ad.
journ subject to call. Carried.
N. H. FITZS1MONS.
President.
BIMER E. LYON,
Secretary.
AN ORDINANCE
of the Mayor and Board Of Aldermen
Of the Town Of Covdngton,
Louisiana.
Submitting to the property tar
payers Of the town of Covington.
parish of st. Tammany. State Of
Louisiana, entitled to vote under the
laws and constitution Of the State of
Louisiana, the question Of mourning
debt by the said town VI Covingtou,
and the issuance of bonds therefor
in the sum Of Sixty ($60.O00) Dol
lars for the purpose of constructing
system Of waterworks in the said
town Of Covington. The title to
such waterworks system to vest in
said town Of Covington, fixing the
date and maturity of said bonds and
each Of them; and fixing where they
shall be payable: fixing the rate Of
interest said bonds shall bear and
providing when and where said in
terest 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 as .herain pro-
posed, to sign and execute said bonds
ard the same to sell 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 d shall have
been issued and sold that this or
d:nance shall become and remain IT.
repealable so long as any of the
said bonds or the interest thereon
STALL remain unpaid; repeating all
ordinances or parts Of ordinances in
conflict herewith; ana providing
when this ordinance shall go into ef-
feet, all in accordance with the pro-
visions of Article 281 Of the Consti-
tuition and Laws OF the State of
Louisiana.
4. Whereas, 1t 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
that a waterworks system should be
constructed within the corporate
limits Of the town; and,
Wehreas, the ordinary revenues Of
the town are insufficient to construct
salo waterworks system. ana In order
to undertake such work it Is 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 u the town
Of Covington, is permitted to issue
bonds when authorized by a vote of
q majority in number ana amount
Of the 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
at such election the governing au-
thority of the said town Of Coving-
ton may annually levy and collect
special taxes in excess OF other taxes
. tax sufficient to pay the install
ments of interest and principal Of
said bonds falling due each year as
may be required for sinking fund |
FOR the payment OF the bonds at ma.
turity, provided such special taxes |
for all purposes shall not in any
year exceed the limit prescribed by
the constitution of ten mills ON the
dollar of the assessed valuation of |
the property of the town, and tc
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-Four |
5,263.00) Dollars; and,
Whereas. it has been and is now
hereby determined by the Mayor and |
Board of Aldermen of the town of l
La, to submit to the I
property taxpayers qualified as cleo
tors under the constitution and laws
Of the State of Louisiana, the fol.
lowing propositions:
Shall debt be incurred by the
town of Coyington. in the sum OF
sixty Thousand Dollars and negoti-
able bonds be issued in said amount,
bearing interest at the rate of five
per cent per annum payable semi
the principal Of said bonds
becoming payable within 81 years
u their date. and issued in such de-
nominations. payable at such time,
md In such installments with such
'ther details relating thereto as shall
20 determined by the Mayor and
Board of Aldermen and authorized
~ the constitution and laws of the
state Of Louisiana. The funds real
zed from the mourning of said debt