Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1918-10-04

commencing at Peoples Avenue, in the
Parish of Orleans. and extending to q
place in the Parish Of st. Tammany at
the boundary line between the States
of Louisiana and Mississippi. opposite.
or nearly opposite. to Logtown. in the
state OF Mississippi. which said road
has already been begun and contracted
10. nd has been designated as a State
Hi, way by the Highway Department
OF the state of louisiana; and for the
construction of all such bridges as may
be necessary for said road; and for the
construction and completion of a model
state Highway. on such route as the
Highway Department of the State of
Louisiana has designated or may deem
wise to designate. to extend approx
mately parallel to the Illinois Central
Railroad from Hammond into New Or
cans, and in the construction Of the
necessary bridges upon said highway;
provided. that in the construction of
the said Hammond-New Orleans High
way no natural drain shall in any way
be in the least manner obstructed; and
provided further. that said Hammond
New Orleans Highway shall be provided
with cuiverts or other engineering out
let or passing the same volume Of
water as is now passed or in the flu
ture shall be passed by the culverts or
other engineering outlets in the road
bed of the Illinois Central Railroad
parallel to said Hammond New Orleans
Highway.
That before any such contract is let
as herein provided. same shall be ap-
proved by the Board of Liquidation OF
the State Debt of the State of Lou
isiana.
Section 2. Be it further enacted. etc.
That IN order to provide funds for the
construction. completion and mainte-
nance OF the above mentioned high
ways. the Secretary OF State from and
after the first day OF January, 1919.
shall as soon after the collection as
practical. deposit with the State Treas
urer for the account of the Highway
Department of the State of Louisiana
all motor vehicle licenses collected I'M
der the provisions of Act No. 260 Of
the General Assembly of the State Of
louisiana for the year 1914. approved
July 3. 1914. from the Parishes of JEFF
ferson. St. Charles, st. John the Bap-
fist. Tangipahoa. st. Tammany and Or
leans. all the licenses so collected shall
be paid bv the State Treasurer into a
special fund to be known as State
Highway Fund No. Q. chef Menteur and
Hammond-New Orle-ns State High
ways: and in addition to the motor
vehicle licenses paid into said State
Hammond-New 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 Tar collected under Article 291 Of
the Constitution of the State Of Lou
isiana OF 1913 from the Parish Of Or
leans as nay be necessary to create and
mSintain in sG;u fund a sum Of Sixty
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 and
hereafter to be made. and any and all
bonds. notes or certificates Of indebt-
edness made or issued by the Board Of
Liquidation of the State Debt of the
State OF Louisiana to provide moneys
for the costs of constructing said high
ways.
Section g. Be II further enacted. ETC..
That in order to provide ready funds
for the payment Of the contracts pro-
vided for in Section / of this Act the
Board Of 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
dedicated to the said state Highway
Fund No. 2. Chef Menteur and Ham
mond-New Orleans State Highways"
PAYABLE exclusively from the said spe-
cial fund. which said special fund Is
hereby set apart and dedicated to the
payment, principal and interest. Of any
bonds. notes or certificates Of indebt-
edness.
Section 4. Be II further enacted. ETC..
That the Board Of Liquidation Of the
State Debt OF the State of Louisiana
shall have power to borrow money for
the purposes OF financing the construc-
ton and compilation of the said Chef
Menteur and Hammond-New Orleans
Highways hereinabove referred to.
and to that end may issue bonds.
notes or certificates OF Indebted
ness in any amount not to ex-'
coed the sum Of Seven Hundred Thou
- "a
ir"t'"ns az the said D,ard shall pre-
scribe. not less than Five Hundred Dol
lars each. may be registered bonds,
notes or certificates OF Indebtedness. or
and shall be designated as Chef Mem
teur and Hammond-New Orleans State
HI -hwav Bonds, or Notes or Certifi-
Gates Of Indebtedness: that at the dis
cr"tfcr or said Board all or any part
Of said bonds. notes or certificates of
.ird" ''"dness shall he pavabIe from one
TO twenty years. Said bonds. notes tr
e. ~'ifi"ntes of Indebtedness NAV cen.
tain such provisions as may be deemed
81 p9dienf for registration in the name
OF from registration: shall bear interest
At the rate not exceeding five per
centum per annum. payable at such
time or times as the Board may pre-
scribe and the place or places Of pay
nent Of principal and interest shall be
fixed by the said Board. Said bonds.
notes or certificates OF indebtedness
shall be sold to the highest bidder at
public sale at not less than par after
thirty days advertisement by the Board
OF Liquidation OF the State Debt of the
State OF Louisiana In New Orleans. Chi
cego, and New York; and the money
arising from the sale thereof shall he
paid to the State Treasurer to the ac-
COUNT Of the Highway Department OF
toe State of Louisiana. and to the credit
Of the state Highway Fund No. !.
Chef Menteur and Hammond-New OR,
leans State Highways" and only paid
out on the warrant OF the State High
way Engineer approved by the Presi-
dent OF the Board OF State Engineers,
Said bonds. notes or certificates Of in
Aebtedness shah be signed by the Gov
ernor, the Auditor and the Treasurer
Of the State. Any coupons attach ed
fhereto shall bear the fac-simile sigma
tore OF the Treasurer Of the State. Any
bonds, notes or certificates Of indebt-
edness issued by virtue hereof shall he
and arc hereby declared to have the
qualities OF negotiable paper under the
law merchant. and shall not be invalid
proceedings for the issue and sale
thereof. and shall be incontesta BILE IN
the hands Of bona fide purchasers or
holders thereof. No proceedings In re-
notes or certificates of indebtedness
required by this Act
Section 5. Be It further enacted, ETC..
1hat the funds collected annually and
directed to be set apar, and paid into
State Highway Fund No. 2. Chef Men,
tour and Hammond-New Orleans State
Highways" under the provisions of this
Act directed to be applied to the con-
struction or the said Chef Menteur and
Hammond-New Orleans State High
ways. are hereby pledged to pay the
principal and interest on said bonds.