St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1917-10-13
ORDINANCES.

spread upon the minutes Of it's pro
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 frac-
tons thereof will be required to pro-
vide for the current expense OF the
town as based on the last assess
ment roll filed. and after cons.dera-
ton of all other available sources Of
revenue provided for in the bduget;
and.
| Whereas, it appears that an avail
| e 2~8) mills has been found; and,
Whereas, 1t 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
| Z 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 = series of 125
bonds of the denomination Of One
Hundred Dollars and no-100 cents
| ($10O.00) each, can be issued and
paid by 4 conservative funding OF
said two and two-eighths e 2-8)
mills, or 50 much thereof IS may be
necessary, to retire said bonds In
principal 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 AZ may
be necessary for the payment of said
bonds in accordance with Act 80 OF
1916,
Now therefore, be 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 80 of the
General Assembly OF 1916, and ar
ticle 232 and paragraph 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 ($10O.0O), numbered
from l to 1875, inclusive, maturing
from oneAto 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 semtannually on the 1st 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 maturit es, as
follows:
10 bonds of 500 each, maturing
on December 1st, 1918.
10 bonds of 500 each, maturing
on December LIST, 1919.
10 bonds Of 800 each, maturing
on December 1st, 1920.
10 bonds of 500 each, maturing
on December LIST, 1921.
IL bonds of 500 each. maturing
on December 1st, 1922.
IL 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 1st, 1925.
II bonds of 500 each, maturing
on December 1st, 1926.
20 bonds of 500 each, maturing
on December LIST, 1927.
That said bonds shall have attach-
ed coupons representing interest ON
said bonds at the rate of five per
cent per annum, from 1st day OF
December, 1917, payable semi-an-
nually on the 1st day of June and
LIST day of December of each year.
That said bonds shall be issued
for the purpose Of the aforesaid IN