The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1917-12-08

fax and TO secure the Indebtedness evi-
denced BY the said certificates by
special mortgage on the lot Of ground
in CoIfax upon which the electric light
plant is located. with all the buildings,
improvements, machinery and fixtures
connected with or part Of said plant,
by also a pledge Of the excess revenues
from said plant, and by the pledge of
two mills per annum OF the taxes levied
and assessed in the Town of Colfax for
the years 1917. 1913, 1919, 1920, 1921
and 1922, the total issue of certificates
to be so secured in principal and inter-
est being the sum of FIVE thousand dol
lars, said certificates to be issaed under
the authority granted by Act 1876 of
the Acts of the General Assembly of
the State of Louisiana for the year
1898 as amended by Act 1S5 of the Acts
of the General Assembly of the State
of Louisiana for the year 1916.
Be it ordained by the Mayor and
Board of Aldermen OF the Town of
Colfax, Grant parish, Louisiana, in
regular session convened:
Section One
| That ordinance No. 24O5 be and the
same is hereby superseded by this or
dinance.
Be it further ordained, ETC.,
Section Two
That the Mayor and Secretary of the
Town Of Colfax be and they are hereby
authorized and empowered to issue and
sign on behalf of the Town Of Colfax
five certificates of one thousand dollars
each, bearing five per centum per an
mum each from the date thereof, the
interest Oh all of them to be payable
annually, and of the certificates so Is
sued they are hereby directed to take
up the three Thousand dollars worth of
certificates issued under ordinance No.
2405 and to cancel the same and to is
sue in lieu thereof three of the thous-
and dollar certificates herein provided
for. and with the other two Thousand
dollar certificates they are authorized
to pay the purchase prlce Of the ma,
chinery, material and apparatus for
which the town is now under contract
to buy
Be it further ordained, ETC.,
Section Three
That the two mills OF the tax per an
mum levied and assessed in the Town
of Colfax and pledged under the ordi-
nance No. 2405 be and the same is here
by annulled and set aside, and that
there be and is hereby pledged two
mills of the taxes assessed, levied and
collected in the Town of Coifax for the
years 1917, 1918, 1919, 1920. 1921 and
1922 out of the general levy of taxes of
the town for the years named, same
being pledged as security for the pay
ment OF the principal and interest of
the five one thousand dollar certificates
provided for in this ordinance.
Be it further ordained, etc.,
! Section Four
That in order to carry out the full
intention and desire set forth in this
ordinance the Mayor and Secretary of
Mayor and Board OF Aldermen of the
Town of Colfax are hereby authorized
for aud on behalf of the Town of Col
fax, Louisiana, to execute special
mortgage on the lot OF ground on
which the electric light plant is erected,
all the machinery ana apparatus con-
nected with the plant, the excess reve-
nues of said plant for she years 1917,
1918, 1919, 1920, 1921 aad 1922, and to
acknowledge the same. together with
the two mills per annum taxation here
in set forth. in the said act OF special
mortgage, as each and all having been
pledged and mortgaged by the Town
of Colfax to secure the said indebted.
ness to be evidenced by the said ceriii-
Gates.
Be it further ordained, etc,
Section Five
That SO much OF any ordinance OF
part OF ordinance of the Town of Col
! fax as conflicts with this ordinance be
ana The same is hereby repealed or su-
ptscet.ed nereoy as tie case may be.
lae above ordinance was read as Z
} whole aac tnen by sections. and wa:
then adopted by sections and as 1
whole, the Mayor and Board of Alder
men voting unanimously TO adopt the
same by sections and then as whole
Present Meyor J. g Long. aaa Alder
men Carhahan. Dean, Farasdo. Good
wyn and Williams.
E Approved tbs the 4th day of Decem
: Der, 1917,
A NJ. GooDwyN. Mayor.