Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1918-09-27


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-.Iway by the Highway Department
OF the State of louisiana: and for the
construction of all such bridges as may
De necessary for said road: and for the
construction and completion of 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
che said Hammond-New Orleans High
~ay 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 culVerts or other engineering out
let or passing the same volume of
water as is now passed or in the flu
tnre 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
tsiana
Section 2. Be il 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 9, 1914. from the Parishes of JEFF
ferson, st. Charles. st. John the Bap-
tfst. Tangipahoa. st. Tammany and Or
leans. all the licenses so collected shall
be paid by the State Treasurer into a
special fund to be known as state
Highway Fund No. 2, chef Menteur and
Hammond-New Orle-ns State High
ways: and in addition to the motor
vehicle licenses paid into said State
Highway Fund No. 2. Chef Menteur and
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 Tax collected under Article 291 of
the Constitution of the State OF Lou
tsiana of 1913 from the Parish OF Or
leans as may be necessary to create and
maintain i'm said fund sum OF Sixty
Thousand Dollars per year. which said
dedicated for the purpose of paving any
and all contracts heretofore made and
hereafter to be made. and any and all
bonds, notes or certificates of indebt-
edncss made or issued by the Board of
Liquidation of the State Debt of the
State of Louisiana to provide moneys
Tor the costs of constructing said high
WAYS.
Section 3. 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 OF 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-
tion and completion 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
coed the sum of Seven Hundred Thou
nd Dollars. in such sums and denom-
T"f'6ns "s tho said Board ehail pre-
scribe. not less than Five Hundred Dol
lars each. may be registered bonds.
notes or certificates of indebtedness. or
pa vah'e TO bearer. may be prefe~-ed,
and shall be designated as Crcf Mem
teur and Hammond-New Orlea &c State
De
Gates of Indebtedness; that at the dis
or 80 ~ said Board all or any part
OF said bonds. notes or certificates of
NJ 'ness shall he PAYABLE from one
to twenty years. Said bonds, notes ar
g. ''-" f"s ~ indebtedness NAV n
tain such provisions as may be deemed
e, - ~ - Tor registration in the name
OF the holder. or for the release there
or from registration: shall bear interest
NJ the rate not exceeding five per
centum per annum. payable at such
tfrne or times as the Board NAV pre-
scribe and the place or places of paw
ment or principal and interest shall be
Mixed 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
cago. and New York: and the money
arising from the sale thereof shall be
paid to the State Treasurer to the ac-
count OF the Highway Department Of
me state of Louisiana. and to the credit
q the state Highway Fund No, .
0hef Menteur and Hammond New Or,
Pans 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
debtedness shall be signed by the Gov
ernor the Auditor and the Treasurer
Of the State. Any coupons attached
hereto shall bear the fac smile sigma
tnre of the Treasurer Of the State. ANY
bonds. notes or certificates of fndebt- |
edness issued By virtue hereof. shall be |
and arc hereby declared to have the |
qualities Of negotiable paper under the |
Nv merchant. and shall not be invalid |
ror any irregularity or defect in the
proceedings for the issue and sale |
hereof. and shall be incontestable in |
ne hands OF bona fide purchasers or
holders thereof. No proceedings in re- |,
spect to the issue Of any such bonds, |
notes or certificates Of Indebtedness
mall be necessary. except such as are |
Seauired BY this Act.
Section 6. Be II further enacted. etc,
mat the funds collected annually and |
Grected to be set apur, 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 |
Hammord-New Orleans State High |
ways. are hereby pledged to pay the |
principal and interest on said bonds, /
notes or certificates of Indebtedness as |
6he same shall become due and PAYABLE. |
and IL shall be the duty of the Treas |
urer OF the State OF Louisiana to trans |
fer from said state Highway Fund No. |
2. Chef Menteur and Hammond New Or |
Aeans State Highway" to the credit OF n |