St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1917-11-10
ORDINANCES.

/ ceeOl0gs the Ou02ot LOT 1Lo current
year and having submitted said bud.
get for inspection and consideration
and having determined the exac,
surplus available from the ten mill
tax, reducing that surplus to mills
and fractions thereof, and having de-
termined how many mills and frac-
tons thereof will be required to pro-
vide for the current expense of the
town IS based on the last assess
ment roll filed. and after cons derA-
ton of all other available sources OF
revenue provided for in the bduSet;
and.
Whereas. it appears that an avail
able surplus Of two and two-eightha
e 2-S) mills has been found; and.
Whereas. it 10 desirable to make
certain constitutional improvements
for the town Of Covington. La. and
to issue bonds TOR the purpose OF
paying for said improvements. TO-
wit: The Smelling OF streets In the
town Of CovtnGtoa. and particularly
q direct route to the Tchefuncta
river to connect with the Madison
Vile Road, the Improvement Of the
Bogue Falaya Park, and ether Dlaees
and crossings: and.
Whereas, 1t 70 necessary for such
improvements. and . series Of 125
bonds of the denomination of One
Hundred Dollars and no-100 cents
| ($100.00) each, can b issued and
paid BY . conservative funding Of
said two and two-sighths q 2-3)
mills, or 90 much thereof % may be
necessary, to retire said bonds in
principal and interest: and,
Whereas. the said Mayer and
Board Of Aldermen desire to ire
vocably pledge and dedicate the said
surplus or ~ much thereof - may
DO necessary tor the payment Of said
bonds In accordance with Aet 80 of
1915,
Now therefore, bs 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
shall be issued, under Act 90 Of the
General Assembly OF 1915. and Ar
ticls 232 and paragraph 4 Of article
PSI 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 ($1O0.00). 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 l, 1917, bearing
five per cent per annum Interest
payable semiannually on the LIST day
Of June and the let day of Decem-
Der in each year; that said bonds
shall be payable each year In the
specific amounts and m2turit -, as
follows:
10 bonds of 800 each, maturing
on December let, 1918.
10 bonds Of 500 each, maturing
on December 1st. 1919.
10 bonds Of 500 each. maturing
on December let, 1920.
10 bonds Of 500 each. maturing
on December 1st. 1921.
IL bonds Of 500 each. maturing
on December 1st, 1922.
IL bonds Of 500 each, maturing
ON December lot. 1923.
IL bonds Of 500 each. maturing
on December 1st, 1924.
is bonds Of 500 each, maturing
on December lot, 1925.
II bonds Of 500 each, maturing
on December Let. 1926.
20 bonds Of 500 each. maturing
on December 1st, 1927.
That said bonds shall have attach-
ed coupons representing interest on
said bonds ct the rate Of ave psr
cent per annum, from LIST day of
December, 1917, payable ssmi-an-
nually on the 1st day Of J1ne and
lot day Of December Of each year.
That said bonds shall BE- issued
TOR the purpose Of the Aforesaid I'm
provements, to-wit: The shslung
of the streets Of the town Of Coving-
ton, La, and particularly . direct
route to the Tchefuncta River to
connect with the Mad.sonvills Pub
fc Road, the improvement Of the
Bogue Falaya Park and other public
places and crossings.
Section Two. Be It further Or
dained, etc., That sad bonds shall
De in the form Of and set forth In the
following words and figures, and be
signed by the Mayor and attested by
the Secretary. to-wit:
UNITED STATES OF AMERICA.
Public Improvement Bond Of the
Town Of Covingt0n, state
Of Louisiana.
$4,000 $4,000.
The municipality Of the town Of
Covington, State Of Louisiana, for
value received hereby promises to
pay to bearer on the LIST day Of De-
cember, 10. ;, the sum Of 100000 in
gold coin Of the United States, Of
the present standard Of coinage.
with interest thereon at the rate Of
per cent per annum from the LIST
day Of December, 1917, and payable
semi-annually on the LIST day of
June, and on the first day Of De-
| cember of each and every year ex-
cept the first coupon which will be
payable one year after date, upon
the presentation and surrender of
| the coupons hereto attached 40 the
same shall mature. The principal
and interest on this bond Is made
payable at the Office of the Covington
Bank & Trust Company, Of Covng-
ton, Louisiana.
| This bond is one of series Of 125
bonds, numbered from 1 to 1875, In