Bogalusa enterprise and American. (Bogalusa, La.) 1918-19??, 1918-10-10

cipal and interest upon any bonds.
notes or certificates of Indebtedness
issued hereunder, that may have been
sold and delivered for the period, of
one year ensuing, and to maintain
in said special accounts styled Estate
Highway Fund No. 2, Chef Menteur
and Hammond-New Orleans State
Highway Bonds, Interest and Re-
demption Account" at all times from
said source, sum equal to one years
principal and interest upon said
bonds, notes or certificates of in
debtedness, and also sufficient to nav
all bonds, notes or certificates of in
debtedness issued hereunder which
shall become due and payable dur
ing the year ensuing. After any
bonds, notes or certificates or in
debtedness authorized hereby shall
have been issued and delivered, no
part of said estate Highway Fund
No. 2, Chef Menteur and Hammond
New Orleans State Highways" shall
be applied to any of the purposes
authorized herein until the said
state Highway Fund No. 2, Chef
Menteur and Hammond-New Orleans
State Highway Bonds, Interest and
Redemption Account" shall have been
created, and the State Treasurer shall
have transferred into it, the funds
hereby directed to be transferred,
Section 6. Be it further enacted,
ETC., That the proceeds of the sale
of all bonds, notes or certificates of
indebtedness issued hereunder shall
be used first to pay for the construc-
ton and completion of the Chef Men
teur Road and bridges in the Parishes
of Orleans and st. Tammany, State
of Louisiana, and second, on and aft
er reserving and setting aside the
amount necessary to pay for the COM
pletion of the Chef Menteur Road
and for building all necessary bridges
therefor, to pay for the construction
of the said public highway from
Hammond to New Orleans, and the
building of all necessary bridges
therefor.
Section Z. Be it further enacted,
ETC., That the Auditor of the State
of Louisiana shall keep a record of
all bonds, notes or certificates of in
debtedness sold or outstanding, and
shall keep an accurate account of all
such specially dedicated funds.
Section 8. Be it further enacted,
ETC., That the Board of Liquidation
of the State Debt of the State of
Louisiana shall let the privilege to be-
come depository of the special funds
provided for under this Act and said
Board shall have the discretion to let
such funds under such terms and con-
ditions as will provide an advan-
tageous negotiation of the bonds,
notes or certificates of indebtedness
sold, and provide always ready funds
for the payment of the principal and
interest on such bonds, notes or GER
tificates of Indebtedness. All funds
collected under the provisions of this
Act, which have been set apart and
dedicated to the said estate Highway
Fund No. 2, Chef Menteur and
Hammond-New Orleans State High
ways" or which may hereafter be
set apart or dedicated for the con-
struction and maintenance of the
above mentioned highways, and all
funds arising from the sale of said
bonds, notes or certificates of in
debtedness, shall be deposited with
the Treasurer of the State in spe-
cial fund as set forth, to be paid
out as herein provided, and the
Treasurer of the State is hereby au-
thorized to pay out of said fund, all
coupons due upon the said
bonds, notes or certificates of in
debtedness issued under the terms of
this Act, and all bonds, notes or GER
tificates of Indebtedness becoming
due hereunder.
Section 8. Be it further enacted,
ETC., That the motor vehicle licenses
from the Parishes of Jefferson. st.
st. John the Baptist, Tangi-
pahoa, st. Tammany and Orleans, col
Iected after the bonds, notes or GER
5ifcates of Indebtedness provided for
in this Act are fully paid and interest
and after the highways shall have
been completed with the funds dedi-
Gated for that purpose, shall then re-
vert to said Parishes, and shall be
paid into their respective treasures
n the same manner as now provided
for under Act No. 26O of the Cen
eral Assembly of the State of Louisi-
ana for the year 1914, and in the
same manner as the said motor We
1icle licenses are turned over to the
other Parishes of this State, and
thereafter said Parishes shall provide
put Of said funds so reYerting to
hem the proper maintenance Of said
provided further, that any
portion Of the Special Road Tax of
sof one mill on the dollar
collected under Article 291 of the
Constitution of 1913 from the Parish
II Orleans, not set apart or dedi-
lated to the Estate Highway Fund
No. 2, Chef Menteur and Hammond
New Orleans State Highways" at the |
expiration of any fiscal year shall re-
'ert to the Estate Highway Fund" as |
provided for in Act No. 40 of the |
General Assembly of the State of |
louisiana for the year 1910, and be
applied in such manner as shall be
low or hereafter provided by law.
Section 10. Be it further enacted.
ETC., That all laws inconsistent with
,r in conflict with the provisions of
his Act are hereby repealed.
Section IL Re II f,,rfha,. a,,, a..J |