St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1917-11-17
ORDINANCES.

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ORDINANCES.
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spread upon the minutes Of it, pro-
ceedings the budget for it, current
year and having submitted said bud
get for inspection and consideration.
and having determined the exact
surpuls available from the ten mill
tax. reducing that surplus to mills
and fractions thereof, and having de-
termined how many mills and frao-
tions 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 bduxot:
and.
Whereas. It appears that IN avail
able surplus Of two and two-eighths
q 2-s) mills has been found: and.
Whereas. 1t 10 desirable to make
certain constitutional improvements
for the town Of Covingtoa, La. and
to '.ssue bonds for tho purpose Of
paying Tor said tmprovements. -
wit: The Smelling Of streets IN he
town OF oovingtoa. and particularly
. direct route to the TehefunstA
river to connect with the 1adisonr
vile Road. TIE inorovsment af the
RoEue FalAya Park, aaA ether QlAsea
and erossings: and.
Whereas, It u necessary M 01Sh
improvements. and . series q AS
bonds OF the denomination of One
Hundred Dollars and ne-100 cents
(@100.o0) each. aa1 b issued and
paid BY . conservative funding Of
said two and two-eiShths 2-S)
mills, or % much thereof ~ may b
necessary, to retire said hends in
principal and interest: and.
Whereas. the said Mayer and
Board Of Aldermen desire = TIRE
voeably pledge and Dedicate the said
surplus or - much thereof - may
- necessary tor tAe payment Of aaid
bonds in aeeordenos with ~ % Of
1915.
Now therefore. b 1t ordained BY
the Mayor and Board OF Aldermen Of
the Town Of Covington. Louisiana,
in legal session convened:
SECTION One. That they hereby
authorize tho issue Of, and there
shall be issued, under Act 80 Of the
General Assembly OF 1915. and ar
ticle 232 and paragraph 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 ($100.00). numbered
from 1 to 125, inclusive. maturing
from one to ten years In an increas-
ing ratio until paid; said bonds b.
inx dated December /. 1917, bearing
i've per cent per annum Interest
semiAnnually on the LIST day
Of juno and the lot day of Decem-
Der in each year: that said bonds
shall be payable each year in the
specific amounts and maturt -, -
follows:
10 bonds of 800 each, maturing
on December Let, 1913.
10 bonds Of 500 each. maturing
on December Let. 1919.
10 bonds Of 500 sa1A, 0ahur1ng
on December Lot, 1880.
10 bonds Of $10o each, naturtng
On December Let. 1921.
II bonds Of 500 eaeh. nsturing
on December 1st, 1872.
Ii bonds Of 500 each. maturing
on December LIT, 1898.
II bonds Of 500 each. maturing
On December LIT, 1874.
Is bonds Of $1oo easA, maturing
on December Lot, 1895.
II bonds Of 500 cash. maturing
on December LIT. 1885.
20 bonds Of 500 each. maturing
on December 1st. 1927.
That said bonds shall have otsanA-
Cd coupons representing interest on
said bends ct the rate Of Ave Per
cent Per Aanua. from LIT day Of
December, 1917. payable sezni-an-
nually On the 1st day Of June and
let day Of December Of each year.
That said bonds shall - isDued
FOR the purpose Of the Aforesaid i'm
PROPONENTS, to-wdt: The shelhng
Of the streets Of the town Of Covfng-
ton, La, and particularly = direct
route to the Tohefuncta River TO
connect with The Mad:sonvillo Pub
l1c Road. the improvement Of the
Boxue Falaya Park and other subtle
places and crossings.
Section Two. Be 10 furtAsS o.
dained, etc., That aid bonds shall
be in the form Of and ct 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 Covington, State
Of LQu10iana.
$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, ~. II, the sum Of $4,000 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 Let
day of December, 1917, and payable
semi-ennually on the 1st 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 - the
same shall mature. The principal