St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1918-05-25
AN ORDINANCE.
F. J. MARTINDALE,
Secretary.

An ordnance pTOVIulu6 AOI Nuc 10
euance of Improvement BONDS In
the amount of $4,000, such bonds
being serial, negotiable interest
bearing coupon bonds maturing
from l to years in an increasing
ratio until paid, in the denomi-
nations OF $1,000 each, numbered
from l to "a, inclusive; securing
the payment of said bonds III in
terest and principal by dedication
of one mill of the ten mills. Pro-
yiding method of sale of said
bonds.
Whereas, pursuant to a notice pub-
lished in The st. Tammany Farmer.
official journal of the Parish OF st.
Tammany, Louisiana. on the 18th
and goth days of April, 1918, the
Police Jury of the Parish of st. Tam
mary, Louisiana, met this day IN
open session, and having first spread
upon the minutes of its proceedings
the budget for its current year and
having submitted said budget for in
spection and consideration, and hav-
ing determined the exact surplus
available from the one mill tax, re-
ducing that surplus to mills and frac-
lions thereof, and having determined
how many mills and fractions thereof
will be required to provide for the
current expense of the Police Jury.
based on the lost assessment roll
filed, and after consideration OF all
other available sources of revenue
provided for in the budget; and,
Whereas, it appears that an avail
able surplus Of one mill has been
found out of the annual dedication of
three mills for the general fund;
and,
Whereas, it is desirable to make
certain constitutional Improvements
for the Parish of st. Tammany, Lou
isiana, and to issue bonds for the
purpose of paying for said improve
ments, to-wit:
And more particularly the COLI
struction, maintenance and operation
of dipping watts in the Parish of st.
Tammany, as required by law.
Whereas. it is necessary for such
improvements that a series of "a
bonds of the denomination of One
Thousand $4,000 each can be issu-
ed and paid by a conservative fund
ing Of said one (1) mill, or 50 much
thereof as may be necessary. to re-
tire said bonds in principal and in
terest; and,
Whereas, the said Police Jury de-
sires to irrevocably pledge and dedi-
cate the said surplus or al much
thereof as may be necessary for the
payment of said bonds in accordance
with Act SO of 1916,
Now, therefore, be 1t ordained by
the Police Jury of St. Tammany Par
ish, State of Louisiana, in legal ses-
sion convened:
Section 1. That they hereby au-
thorize the issue of, and there shall
be issued, under Act sc of the Cen
eral Assembly of 1915, and Article
232 and paragraph 4 of Article 281
of the Constitution of 1915, of the
State OF Louisiana, twenty-four (24)
serial. negotiable interest bearing
coupon bonds Of the denomination of
One Thousand ($10OO) Dollars each,
numbered from / to "a, inclusive,
maturing from l to years in an
increasing ratio until paid; said
bonds being dated Covington, LOU
isiana, July !. 1918, bearing per
cent per annum interest payable
semi-annually on the LIST day of July
and the 31st day Of December in
each year; that said bonds shall be
payable each year in the specific
amounts and maturities, as follows:
Six bonds Of 81, 900 each, matur-
ing July l, 1919.
Six bonds of $1,000 each, matur-
ing July l. 1920.
Six bonds of $1,000 each, matur-
ing July /, 1921.
Six bonds of 81, 900 each, matut-
ing July l, 1922.
That said bonds shall have attach
ed coupons representing interest on
said bonds at the rate of Ave per
cent per annum. from the LIST day of
July. 1918, payable semi-annually on
the 1st day of July and 31st day of
December of each year.
That said bonds shall be issued
for the purpose of the aforesaid i'm
PROPONENTS, to-wit: And more par
ticular!y the construction, mainte-
nance and operation OF dipping vats
In the parish Of st. Tammany. % RI