St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1917-09-29
ORDINANCES.

ceedings the budget for its current
year and having submitted said bud
get for inspection and consideration.
and having determined the exact
surplus available from the ten mill
tax, reducing that surplus to mills
and fractions thereof, and having de-
termined how many mills and trac-
tons thereof will be required to pro-
vide for the current expense of the
town as based on the last assess
ment roll fled, and after conssdera-
ton of all other available sources of
revenue provided for in the bduget;
and,
Whereas, it appears that an avail
able surplus Of two and two-eighths
e 2-8) mills has been found; and,
Whereas, it is desirable to make
certain constitutional improvements
for the town of Covington, La, and
to issue bonds for the purpose of
paying for said Improvements, to-
wit: The Smelling of streets in the
town of Covington, and particularly
a direct route to the Tchefuncta
river to connect with the Madison
Vile Road, the improvement of the
Bogue Falaya Park, and other places
and crossings; and.
Whereas, it 10 necessary for such
Improvements, and a series of 125
bonds of the denomination of One
Hundred Dollars and no-1O0 cents
($1OO.O0) each, can be issued and
paid by conservative funding Of
said two and two-eighths e 2-8)
mills, or so much thereof as may be
necessary, to retire said bonds in
princ1pa and interest; and,
Whereas, the said Mayor and
Board of Aldermen desire to ire
vocably pledge and dedicate the said
surplus or as much thereof as may
be necessary for the payment of said
bonds in accordance with Act SO OF
1916. 5
Now therefore, he it ordained by
the Mayor and Board of Aldermen OF
the Town of Covington, Louisiana,
in legal session convened: #
Section One. That they hereby
authorize the issue Of, and there
i, shall be issued, under Act So OF the
General Assembly Of 1916, and ar
ticle 232 and paragraph 4 of article
2S1 of the Constitution Of 1913. Of
the State of Louisiana, One Hun
dred and Twenty-Five serial. nego-
table interest bearing coupon bonds
Of the denomination of One Hundred
Dollars each ($10000), numbered
from i to 1875, inclusive, maturing
from one to ten years in an increas-
ing ratio until paid; said bonds be-
ing dated December 1, 1917, bearing
five per cent per annum interest
payable semfannually on the list day
Of June and the LIST day 'of Deem
Der in each year; that said bonds
shall be payable each year in the
specific amounts and maturf 'es, as
follows:
10 bonds of 800 each, maturing
on December LIST, 1918.
10 bonds of 500 each, maturing
on December LIST, 1919.
10 bonds of 500 each, maturing
| on December LIST, 1920.
10 bonds of 500 each, maturing
on December 1st, 1921.
| II bonds of 500 each, maturing
on December 1st, 1922.
II bonds of 500 each, maturing
on December list, 1928.
IL bonds Of 500 each, maturing
on December LIST, 1924.
Is bonds of 500 each, maturing
on December LIST, 1925.
II bonds Of 500 each, maturing
on December LIST, 1926.
20 bonds of 800 each. maturing
on December LIST, 1927.
That said bonds shall have attach
ed coupons representing interest on
said bonds at the rate of i've per
cent per annum, from list day OF
December, 1917, payable semi-an-
nually ON the list day Of June and
1st day of December Of each year.
That said bonds shall be issued
FOR the purpose Of the aforesaid I'M
proyements. to-wit: The Smelling
of the streets of the town Of lCoving-
ton, La, and particularly Z direct
route to the Tchefuncta River to
connect with the Mad!sonvilleF Pub
lie Road, the improvement OF the
Bogue Falaya Park and other public
places and crossings.
Section Two. Be 1t further OF.
dained, etc., That said bonds shall
be in the form of and set forth in the
following words and figures, and hfs
signed by the Mayor and attested 10y
the Secretary, to-wit:
UNITED STATES OF AMERICA.
Public Improvement Bond Of the
Town of CovingtOn. State
| of Louisiana.
s1OO.OO $4,000.
The municipality Of the town o.
Covington, State Of Louisiana, fol
value received hereby promises Il
pay to bearer on the LIST day OF De
cember, 10. the sum of $4,000 II
gold coin of the United States, O.
the present standard of coinage
with interest thereon at the rate o
5 per cent per annum from the 1s
day of December, 1917, and payable
semi-annually on the LIST day o
June. and on the first day OF De
cember Of each and every year ex
, cept the first coupon which will b.
PAYABLE one year after date. upol
the presentation and surrender Q
the coupons hereto attached as tn
same shall mature. The principa
and interest on this bond is mad
payable at the Office of the Covingtol
Bank & Trust Company, OF Gov ne
ton, Louisiana.
This bond is one of series OF 2
bonds. numbered from l to 125, IN
| .,..;vo ~ <ho denomination Of On