St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1918-05-18


rate OIL per cent PEI annum from
the J. st day OF july, 1913, and pay
abe seml-annuaIIy on the ISL day u
july ana on the olst day OIL Decem-
Der or each and every year except
the hrst coupon which will be pay
able one year after d.\te, upon tue
presentation ana surrender OF the
coupons hereto attached as the same
shall mature. The principal and in
terest on this bond Is made payable
at the Office Of the Covington Bank
Il Trust Company, or Covington, Lou
isiana.
This bond is one OF a series of 30
bonds, numbered from l to 80. in
elusive, OF the following denomina-
tons, to-wit: Sixteen (l6) bonds
for $1,000; ten Q0) bonds for $500;
and one on bond each for $500,
500, $500 and $500, respectively,
and aggregatins $27 1000, issued by
The Parish Of st. Tammany, State OF
Louisiana, tor the purpose OF the
construction an maintenance OF
reads in st. Iammany Parish, ana
more particularly the road from
.Madlsonviiie corporation line to the
Covington corporation line and the
Parish OF Tangipahoa line to the Gov
.Astn corporation line, by virtue OF
the authority conferred by Article
1872 and paragraph Of Article PSI
OF the Constitution, and Act No. sc
OF the General Assembly Of the State
OF Louisiana for the year 1916, and
the sad bond was especially author
lied at meeting Of the Police Jury
held in Covington, Louisiana, on the
29th day OF April, 1918, in accord
ance with said Act.
The debt represented by the said
80 bonds was incurred and the bonds
were issued by virtue of the authori-
ty conferred by the Constitution and
Act referred to and conforming to
I the results of an ordinance voted by
the Police Jury of St. Tammany Par
ish, on the 10Th day of April, 1918,
authorizing the Police Jury of the
said Parish to levy each year from
!, out of the taxes Of the said Police
Jury is authorized to impose under
the Constitution the sum of one-half
Q-2) mill on the assessment of the
property Of the Parish Of st. Tam
many, or so much thereof as shall
be sufficient to pay the principal and
interest on said bonds in accordance
with law, and it is certified that all
t-6f the acts, conditions and things
necessary to be done precedent to
the issuance of this bond and other
bonds Of the series in order to make
them legal, binding, and valid obi
cations Of the Parish of st. Tam
many have been performed in due
form as required by law, and that
the legal Indebtedness Of said bond
Of the Parish of St. Tammany, in
Guiding this issue of bonds, does not
exceed the constitutional and statu-
tory limitations of Indebtedness. \
In witness whereof the Police
Jury, as the governing authority Of
said Parish, have caused this bond
to be issued, signed and sealed with
Tammany Parish, State of Louisiana,
all Of which we're affixed hereto by
its President and Secretary on behalf
OF said Parish on the LIST day of
July, 1913.
J. B. HOWE,
President of Police Jury.
F. J. MARTINDALE,
Secretary.
Section 3. Be it further ordain-
ed. ETC., That the Parish of St. Tam
many, State of Louisiana, shall be
and remain obligated to the payment
Of said bonds and Indebtedness with
the interest thereon and this ordi-
nance authorizing the issuance there
OF shall be and remain irrepealable
SO long as any of said bonds and in
terest coupons shall remain outstand-
ing and unpaid and the passage of
this ordinance shall constitute con
tract between the holder or holders
of said bonds and the Parish of St
Tammany, Louisiana, and shall re
main inviOlate and no law or ordi-
nance shall ever be passed relieving
the governing authority of said Par
ish from the obligation of annually
levying such millage hereinafter ded-
icated and pledged and paying the
same on the interest and principal
Of said bonds.
Section 4. Be 1t further ordain-
ed, etc, That the Police Jury hereby
irrevocably pledge and dedicate the
said surplus Of one-half l-2) mill,
or so much thereof as may be neces-
sary, to the payment of the bonds
above said, until the same shall be
retired in principal and interest, and
such pledge and dedication shall be
ind remain irrepealable by any other |
governing authority of the Parish of
st. Tammany. until the said bonds !
are paid in principal and interest.
Section 5. Be it further ordain-
ed. etc. That said bonds shall be !
sold for not less than the price now
Or hereafter fixed by law, and shall !
be first offered for sale by calling for |
sealed bids after fifteen (15) days
and shall not be sold
for less than par and for cash. Fail
ure to sell after due advertisement
will be warrant and authority to cell
said bonds at private sale, but not
for less than the legal price, and for
cash.
Section 6. Be 1t further ordain-
I'd, etc, That all of proceedings pre-