The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1918-09-07

provided further. that said Hammond
New Orleans Highway shall be provide
win culverts or other engineering out
Iet or passing the same volume o
water as is now passed or in the fu
ture snail be passed by the culverts o
other engineering outlets In the road
ped or the Illinois Central Railroad
parallel to said Hammond New Oriean
! Highway.
That before any such contract is Ie
as herein provided, same shall be ap
proved by the Board of Liquidation o
the State Debt OF the State OF Lou
isiana.
Section 2. Be It further enacted etc
ihat IN order to provide funds for tn,
construction. completion and mainte
nance OF the above mentioned high.
ways, the Secretary of State from ane
shair .ne I'rst day Of January. 1919
practicaf deposit with the State Treas
urer Tor the account of the Highway
department. of the State of Louisiana
an motor vehicle licenses collected I'M
u t me provisions or Act No. 200 OF
the General Assembly of the State OF
louisiana for the year 1914. approves
July >. 1914. from the Parishes OF Jef
ierson, st. Charles. st. John the BAN
tfst, Tangfpahoa. st. Tammany and Or
leans, ali the licenses so collected shall
pc paid by the State Treasurer into n
special fund to be known as state
HIGHWAY Fund No. 2. chef Menteur and
Hammond-New Orleans State High
ways; and in addition TO the motor
venicie licenses paid into said State
I1lghway Fund No 2, Chef Menteur and
Hammond Orleans State High
ways from the parishes above emu
merated, the State Treasurer shall like
wise pay into said fund such portion
or sufficient amount out of the Special
Road Tax collected under Article 391 OF
~
isfana of 1913 from the Parish of Or
leans as may be necessary TO create and
maintain in said fund sum of Sixtv
Thousand Dollars per year, which said
special fund Is hereby set apart and
dedicated for the purpose of paying any
and all contracts heretofore made anc
nereafter to be made. and any and ali
ponds notes or certificates of indabt-
edness made or issued by the Board of
Liquidation of the State Debt of the
state of Louisiana to provide moneys,
ways
Section 3. Be it further enacted. etc.
inat In order to provide ready funds
Tor the payment of the contracts pro-
vided for in Section l of this Act the
Board or Liquidation or the State Debt
OF the State of Louisiana shall have au-
thority to issue bonds, notes or certifi-
Gates of Indebtedness in anticipation of
the collection and receipt of the taxes.
licenses and revenues set apart and
aeoicated to the said State Highway
Fund No. 2. Chef Menteur and Ham
mond-New Orleans State Highways"
PAYABLE exclusively from the said spe-
cfal fund. which Said special fund is |
hereby set apart and dedicated to the |
payment, principal and interest. of any
,dness.
Section 4. Be 1. further eracted. etc.
rhat the Board of Liquidation of the |
state Debt of the State of Louisiana |
'haii nave power to borrow money for /
ne purposes of financing the construc- |
ION and completion of the said Chef
denteur and Hammond New ORLEANS
1ignways hereinabove referred TO. |
IND to that end may issueA bonds
totes or certificates of Indebted.
less In any amount not to ex-
eco the sum of Seven Hundred Thou
end Dollars. in such sums and denor-
as the said Board shall nre-
cripe. not less than Five Hundred Dol
airs each, may be registered bonds
lotes or certificates of Indebtedness or
ayanie 70 bearer. as may be preferred
a,, sna,i De designated as Chef Mem
eu, and Hammond-New Orleans State
iighway Bonds. or Notes or eertifi-
ates OF Indebtedness; that at the dis
reuon OF said Board ali or any part
sald bonds, notes or Certificates ~
lusn.euness shall be payable from one
UOnQS.
ertlficates of Indebtedness NAV err
I'm such provisions as may be deemed
spsnlent FOR registration in the n.r,.i
she holder, or for the release tbere~
. iIoin registration; shall bear Interest
snt,1r, ,ase NOT exceeding five per
ne or times as the Board NAV me-
'rIpe ana the place or places ~ nv
zen, or principal and interest shai :.
,ts oy the said Board. Said bonds
III or certificates OF fndebtedness
laii be sold to the highest biddar
nol1c sale at not less than nsr go. !
,iTty Gays advertisement by the Roa
Llquidation of the State Debt ~ H.
ate or Louisiana I'm New Orleans or
20. ana New York: and the money
"a - Az me sale thereof shall be /.
UNI OF he Highway Department. - !
e state OF Louisiana. and 10 the craattl :
the state Highway Fund No !
leI Menteur and Hammond-N New Or, '
I. az o.ate Highways" and only paid :
ay Engineer approved by the Prssi
ny ~, or the Board of State Engineers Y
Ia oohos, notes or certificates Of IN g
Dteoness shall be signed BY the Gov ?
nor' tne Auditor and the Treasurer :
the state. Any coupons affached
ereto shall bear the fac-simile sfrne 5
re OF the Treasurer of the STATE Any
nos, notes or certificates az ;ndaht'
ness issued by virtue hereof. shall he L
a are hereby declared 10 have Az
aiities OF negotiable paper rnier ~
y merchant, and shall not be invalid
any irregularity or defect in ths
oceedings for the issue ana .ais
ereof. and shall be fncontesfah,e ~
E hands OF bona fide purchasers or
iders thereof. No proceedings in 70. -
ect to the issue of any such bonds
ties or certificates OF indebtednes.
al De necessary, except such as arel
luired by this Act.
section s. Be II further enacted etc
at the funds collected annually ana
ected TO be set ap-r, and paid into
tate Highway Fund No. 2. Chef Men
'r and Hammond-New Orleans STATE
ghways. under the provisions OF this
directed to be applied to the con-
uction OF the said Chef Menteur and
Orleans. State Hioh-
VS.. are hereby pledged to pav fhs
ncipal and interest on said honds :
les or certificates OF Indebtedness ne
same shall become due and PAYABLE
4 II shall be the duty of the Treas
n OF the State of Louisiana to trsns-
from said State Highway Fund No
,hef Menteur and Hammond New Or
ms state Highway" to the credit ~ /,
ar ~ .