New Iberia enterprise and independent observer., 1916-01-08
Ordinance No. 101.

Whereas, the City of New lbc-
ria, Louisiana. has constructed,
provided and undertaken mllnlc-
ipal improvements for SAID City
and in connection Herewith has
incurred Indebtedness and has en-
tered into contracts for the same,
the aggregate Of which will bc at
least the sum Of Thirty Six Thou
sand Dollars (T3G. .OUO.NOI and
which improvements have been
deemed and are now declared nee
c>>ary and advisable for said City
hv its Board 81 Trustees; and
Whereas. the Board Of Trustees
has ascertaincd and determined
the amount Of the annual statu-
tory and ordinary charges Of the
CITY which it will be necessary
for it hereafter to pay out Of the
proceeds Of its rctcnues author
izcd .bv the Constitution and laws
Of the State and the ordinances
Of this City; and has and does
now hereby ascertain. determine
and declare that after making pro
vision for the rayment OF all stat
utory and ordinary CHARGES. and
after deducting the three CD mill
school tax and all prior special
and specific appropriations and
dcdcationS. there will remain ont
Of the ten (1G) mill tax for the
current year. 1916. a residue O
not less than the sum Of Fifty
Three Hundred Dollars (%5, 5000
which sum is sufficient to pay the
principal divided into ten (10)
installmcntS and the interest upon
Thirty Six Thousand Dollars
(%36, ,0O0.00) Of bonds. being an
amount that can be provided for
ont Of the levy and collection Of
a two and onc-half (2i2) mill tax
and
Whereas, the budget of expcnd-
ltrrcS of the said City for the
year 1916 was duly adopted at
the regular meeting Of the Beard
Of Trustees Of the City Of New
iherla. December 9th. a. ID. 1913. |
and the surplus or residue Of the |
ten 10) mill tax authorized to
be levied and collected for the
year 1916 pursuant to Article 232
Of the Constitution was then as
certaincd by this Board of Trrs-
tees and was thereupon approp-
rated and by such budget for
the purpose Of paying the first in
stallment Of principal and inter
est on Thirty Six Thousand Dol
lars (*36. 6.00O) Of bonds then con
templated to be and now herein
provided to be issued. which sur
plus for the year 1916 was and is
now declared to he the sum Of not
less than Fifty Three Hundred
Dollars ($5. .3O0) which is and was
properly available for dedication
and approximation for such lawful
purpose aforesaid:
Now therefore. be it ordained
~ the Board Of Trustees Of the
-itv Of New Iberia, La;
See. /. That there shall be
.unded into bonds the avails Of
he residue OF the ten (10) mill
AK authorized by the Constitution
Q be levied and collected in the
ears 1916 to 1928, inclusive TO
he extent necessary for the pay ;
nent of the principal and interest .
# Thirty Six Thousand Dollars,
S36,Oo0O Of bonds. such residue
Ipon the basis Of the estimate Of
he residue for the current wear {
avlng been found and being now I
|eternlned and declared sufficient l
or that purpose; that bonds of
he City Of New Iberia, Louisiana ;
o the amount Of Thirty Six Thou
and Dollars (I36, ,G00) be and are !
crehy authorized to be issued; {
hat said bonds shall bear inter !
st at the rate Of five per centum
. ner cent. per annum. paya bic $