St. Tammany farmer., 1917-09-22


o.pal by dedication OF two and two
+ eighths {92ls) &ill1k & the ne ten 81;
whersa6E d uaf 10 notice pub
@eial sss Of : the ha'Ise~S town q + Gov Gov;
lgtoni sstddis. ana, on the Sth and
9TH days of September, 1917, the
Mayor and Board of Aldermen of
the town Of Covington, La, met this
day in open session, and having first
spread upon the minutes of its pro-
ceedings the budget for it's 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-
tions 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
able surplus of two and tWo-eighths
(22-S) 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 shelling of streets in the
town of CovingtOn, and particularly
q 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 is necessary for such
Improvements, and a series of 125
bonds of the denomination OF One
Hundred Dollars and no-100 cents
($1OO.OO) each, can be issued and
paid by a conservative funding OF
said two and two-eighths e 2-S)
mills, or so much thereof as may be
necessary, to retire said bonds in
prime. k.pal and interest; and,
Whereas, the said Mayor and
Board of Aldermen desire to ire
surplus or as much thereof as may
he necessary for the payment OF said
bonds in accordance with Act So 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 SO of the
General Assembly of 1916, 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 ($10O.O0), numbered
from 1 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
i've per cent per annum interest
payable semiannually on the 1st day
of June and the 1st day of Decem-
her in each year; that said bonds
shall lbe payable each year in the
specifc amounts and maturitfe les, as
follows:
10 bonds of 500 each, maturing
on December 1st, 1918.
10 bonds of 500 each, maturing
on December 1st, 1913.
10 bonds of 500 each, maturing
ON December 1st, 1920.
10 bonds of $1OO each, maturing
on December lst, 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 1st, 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 list day of
December, 1917, payable semi-an-
nually on the list day OF June and
lst day of December Of each year.
That said bonds shall be issued
for the purpose of the aforesaid I'm
to-wit: The shelling
OF the streets of the town of Coying-
ton, La, and particularly a direct
route to the Tchefuncta River. to
connect with the Madisonville Pub
lie Road, the improvement of the
Bogue Falaya Park and other public
places and crossings.
Section Two. Be it further or
dained, ETC., That said bonds shall |
be 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 CovingtOn, State
Of Louisiana.
$4,000 $4,000.
The municipality of the town OF
State Of Louisiana, for
value received hereby promises to
pay to bearer on the 1st day OF De-
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
5 per cent per annum from the 1st
day of December, 1917, and payable |
on the 1st day OF
June, and on the first day of De-