St. Tammany farmer., 1916-04-29

may be required for . sinking 1un.
for the payment Of the bonds 1t 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 o.
the properly Of the town. and to
issue negotiable bonds not to exceed
ten per centum Of the assessed yalu-
alton OF the property Of the said
town: and.
Whereas, the assessed valuation OF
the said town Of Covington. ct the
present time equals the amount Of
seven Hundred and Fifteen Thous-
and Two Hundred and Sixty-Four
l. ($715,263.00l Dollars; and.
!. = Whereas, II has, been and u now
hereby determined BY the Mayor and
Board OF Aldermen Of the town OF
Coyingtou. La, to 4Submit to- the
property taxpayers Qualtted - cleo
tors under the constitution and laws
Of the state OF Louisiana, the f0ls
lowing proposition:
Shall q debt be. incurred BY the
town Of Costngtou. In the sum OF
Sixty thousand Dollars and negott-
able bonds be issued In said amount.
bearing interest at the rate OF i've
per cent pera annHm payable semi
annually, the principA Of said bonds
becoming payable within 81 years
OF their date. and, tssued In such de-
nominations: payable at such time,
and In such instaSlmeuts with such
other details Relating thereto - shall
be determined by the Mayor ana
Board OF Aldermen and authorized
By the constjtntion. and laws OF the
State Of Louisiana. The funds real
ICED from thetincurring Of said debt
aud the sale Of said bonds to be useo
for the purpose OF constructing
Waterw0rkS systeW In said town, the
title to which. shall vest In said town
Of Covington; and.
Whereas, in the oveot said lndebt-
ednesS designated In tina foregoink
proportions shaAs be- authorised b.
the taxpayers to be- incurred ano
bonds shall be tssued therefor, the
total amount Of the Indebtedness ol
said town Including said bondsJ
shall be within the constitutions.
limit Of ten per eentum on the as
sessed valuation OF the property o,
said town, and the, special tax to b
annually levied to pay the install
ments Of interest and principal o.
said bonds ~ s4they, rospecuvely fal
due with all other special taxes
levied and 70 be levied for othel
lawful purposes 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 town prescribed by thu
constitution;
Now. therefore. bs It ordained b.
the Mayor and Board Of Aldermen
of the Town Of Covington, In regular
session convened:
Section /. That the town OF Gov
ington incur o debt Of Sixty Thous
and ($60.000) Dollars to be usee
for the exclusive purpose Of con
structing, erecting and eQuipplng
waterworks system In the town
Coyington. Louisiana, for supply!n
the Inhabitants Of said town Of Coz
ington. Loutsiana. with water, tn
title to such system shall be yeste
in the said town OF Covington:
Be It further ordained, ETC..
Section :. That as representa-
said indebtedness said town Of Co.
ington do issue 110 negotiable boni.
to 130. both numbers in
clusiyeSe bearing date Of July /
1916,..With dve per cent per annun
from date. payable semi
on the 18th day OF Jul.
and the 18th day OF January. eacl |
year In the specific amounts and ma
turittes, - ss1ollows:
10 bonds Of $500 each. one Q,
said bonds mat0ring July 18th Of
zach year from 1917 to 1875, both |
lneluslve.
,oaas 1atuN1g q J1ly 16th g each
reaS &o0 1857 = 1851, 18Th l1elu-