New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1916-08-05

sS-.od OF tour (4l years, and snail ma
tu-e in three equal annual installments
The first installment of such ce-tiflca e:
shall mature two years (2) from the year
OF their issue; on ne -. daJ O.
uary OF the second year after the year OF
Issue, AID annually thereafter, the City
of New Iberia shall be obliged to re-
deem one-tenth 1-1Ol of each issue OF
such certificates issued in connection
with the paving of roadways and one
third (13) OF each issue of such certifi
Gates issued in connection with the paw
ing of sidewalks and repair of streets
but the City of New iberia may, on said
dates, redeem a greater amount Of said
certificates provided notice of its inten-
ton SO to do shall have been published
in the official journal of the City once
week for four weeks during the month
of the preceding November. The City
of New Iberia shall also be obliged to
pay the interest on all outstanding Ger
tificates on the 1st day of July and the
1st day of January of each year
The paving certificates of indebted
ness herein described shall be payable
to bearer, and are declared to be ne
gotiable instruments, and shall be in
Guided in the securities described in Act
No. II of the General Assembly of the
State of Louisiana, sessions of 1904, and
the same are hereby made acceptable for
deposit with the Treasurer of the State
of Louisiana in accordance with the terms
and conditions, etc, of that Act
The funds derived each year from the
sale of paving certificates shall be ap-
-ropriated by the Board of Trustees for
the payment of paving and repair of
streets in connection with said certifi-
Gates were issued and sold! and pend
ing their disbursement said funds shall
be deposited with the fiscal agent of the
City to the credit of special account TO
be known as Paving Account. a"d
whatever interest shall be earned thereon
shall be credited to said fund, against
this account shall be charged the amounts
paid out under paving contracts.
Sec. g. Be it further ordained, etc,
That upon completion of each case o.
paving or repair of streets, and when
the apportionment of the cost due by
each proprietor has been ascertained and
determined in the manner herein pro-
vided, the Trustee of Public Safety
shall issue a statement of assessments,
which statement shall give brief des-
:ription of the properties against which
The cost Of such paving or repair of
streets shall be assessed, the names of
the properties thereof as shown by as
;essment rolls at the time the statement
S made, and the amount of the portion
If the cost of each paving or repair of
streets payable by each property, with
i've per cent per annum interest upon
zach assessment from the date when the
contract for the work. CT the earliest con-
ract for any part of the work, shall have
tatement of assessments by the Trustee
# Public Prop. shall be prima facie evil
lence that all legal formalities have been
complied with and that paving OF repair
# the street has been executed in COM
'liance with the contract relating to and
governing the same.
The Trustee of Public Safety shall
within ten days after the issuance of
aid statement of assessments, furnish |
he Trustee Of Finance copies thereof
nd the Trustee of Finance shall add
o the regular tax bill of each property |
gainst which the cost Of paving or re-
air of streets is assessed amount due
y it for principal and interest, which |
mount shall be collected in the manner
xed by law for the collection of regu-
II City taxes, subject to the same pen
tiles for delinquency.
The Trustee of Finance shall, within
N days after he has received said cop
IS from the Trustee Of Public Safety
arnish copy of such statement of as
essment to the Recorder of Mortgages
II the Parish Of iberia, and said Re-
order shall Immediately file the state
lent of assessments delivered to him,
nd shall retain and keep same among
,e record books of his office, and it shall
: and constitute a part of the records
{ the same. He shall index the said
atement of assessments in the current
[ortgage book under the head of Estate
ent Of Paving Assessments for the
Ar" but no further record thereof
lall be necessary OF be paid for, pro-
ded, that the failure of the said re-
rider to mark the said statement Of
"fled" or to index the
me, shall in no way prejudice the
ght of the City Of New Iberia.
From the date that the said statement
assessments is filed in said mortgage
flee it shall act as first lien and priv
.ge on each specific real property
ereon assessed, and said lien and priv
.ge shall be superior to vendors lien
I'd any other privilege or mortgage,
ID shall remain inforce for the amount
lie in principal and interest, including q
st of Court, if any, for collecting, un-
final payment has been made.
Said filing in the records office shall
full notice to each taxpayer and to Z
ch other person whom it may concern c
the assessment of the real properties
ted on said statement of assessments I
d that the said statement of assessment t
on file in the office of the Trustee I
Finance and in the office where $
ortgage records are kept, and that the ?
st Of paving and repair of streets as
ssed against said properties are due
d collectable as provided by law. P
All assessments of paving and repair s.