The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1918-10-26

Dc In the least manner obstrusted; spt
provided further. that said Hammsn<
WITH cnlyerts or ethss sightseeing out,
Iet OF passing the same vslune o.
water ~ - now PANIED or in the IA
ture shall be passed by the culvsrts OF
otner engineering outlets In the road
ped OF the Illinois Central Railroad
Highway.
That before any such contract IL lei
ne herein provided. same shall be APP
proved by tho Board Of Liquidation et
me State Debt OF the State of LOU
isiana
section 2: Re 1t further enacted. etc.
Inaf In srdsr TO prsviAs fund.- Ter III !
sons.ruetion, cenplstien and maints-
nance ef the above mentioned hieh-
ways. the Secretary or State from and
after the first day OF January. 1915
snalt as soon after the collection al
practical deposit with the State Treas
rrer Tor the account of the Highway
All r .ntnr . or thS state Of Louisiana
gar the prevfsfsns Of Act Nc. 3So Of
ne General Assembly Of the State of
Leeisiana fer the year 1914, approved
suiy ,. 1914. from the Parishes Of JEFF
st ssen -; Charley. st John the Zap
leans, all the licenses " collected shall
De pais by the state Treasurer int q
special fund 70 be known A. "2tete
aiSaway Fund No. 3, Chef Nsntsur and
hsnnoaA-Nsw Orleans State High
vehicle licenses paid int said STATE
Aighway Fund Ne. {, Chef Msnteur and
Haumond-Nsw Orleans State High
ways from the parishes above emu
msrated. tie State Treasurer shall ike
.iss pay int said fund such porto.
e suffisisnt amount out of the Special
Road Tax collected under Article 3sf Of
the censtituttsn Of the State Of leu
isianA OF 1919 from the Parish OF Or
leans ~ may be necessary TO create and
maintain IN said fund sum 81 Sixty
special fund 10 hereby set apart and
dedicated. for the purpose Of paying any
ana all contracts hcretofors made and
hereafter to be made. and any and all
bonds. notes Or certificates OF indebt-
Liquidation Of the State Debt Of the
state Of Louisiana to, provide moneys
Ter ths costs Of constructing said high
ways.
Section 8. Be 1t further enacted. ETC..
for the payment Of the contracts pre-
vided for I'm Section 1 OF this Act the
Board Of Liquidation OF the STATE Debt
Of the State Of Louisiana shall have au-
thority TO issue bonds. netss or csrtifi-
Gates OF Indebtedness in anticipation Of
- =
licenses and revenues set apart and
dedicated to the said State Highway
Fund No. !. Chef Hsptsur and NAM
nend. New Orleans State KiEhways."
payable exclusively from the said sps-
sfsi fund which said special fund il
hereby set apart and dedicatsd to the
payTsAt. principal and interest, Of any
sones. notes or ssrtifsatsa of iHdsbt-
Section Z. BE II further er.oted. .,e.
mat Tie Eoard OF Liquidation Of the
.tats Debt Of the stste OF Loujsiaua
.hal have power to borrow mspsy fer
me purposes OF financing the sonstrac-
lion and completion Of the said chez
slsntsur and Hammond-Nsw Orleans
Hishways hsrsInabovs referred to.
ny !" tnat end may issue bonds.
1otes or certificates OF indebted
hess In any amount not to ex-
'eso the sum OF Seven Hundred Tbou-
ARG dollars, in such sums and donora-
nations az the said Board shau pre-
'criss. net less than Five Hundred Del
notes or certificates Of indsbtesness a. |
'ayaele 70 bearer. as may be preferred. |
ma snail be designated "A char Men
eur and Hammond New Orleans state. +
1isnWay Bonds. or Notes or Certift |
s,es OF tndsbtedness; that At the dis
I said bonds. notes or certificates Of |
shall be payable from one \
0 twenty years. Said bonds. notes -
.'.t',lc'tes or indebtedness may cse-
am sucn provisions as may be deemed
: piaient for registration in The y,,,,,~
I the holder. or for the release ~ , 80.
! from registration: shall bear jnferast
tRe rate not exceeding five ne~
erton per annum, payable at siea
me or times as the Board may mr.
sant ana ne place - psaaos Of nay
vent OF principal and fnferesf sh, II Z.
'xed by the said Board. Said hon5s
otes or certificates of indabtnSrs
ns,i be sold to the highest bidder 81
uDic sale at not less than mar ,fte~.
siTy Gays advertisement by the BOARD
tate of louisiana In New Orleans cste
ago. and New York; and the money
rising from the sale thereof SHAH r.
aio TO the State Treasurer to fhs ar
ount or the Highway Department on
- 81 louisiana. and to tho credit
the state Highway Fund No.
net Menteur AID Hammond New Or
aus STATE Highways" and only raid
it en- the warrant Of the State Hirb-
az ENGINEER approved by the Presi-
.,s or tie Board Of State Engineers.
sid bonds, notes or certificatss or IN
sntsdness shall be signed BY the Gov
nor, the Auditor and the Treasursr
the state Any coupons atfaoheS
ereto shall bear the fac smile sfxra-
re OF the Treasurer Of the State. ANY
1880 ~ cSftiHS&tc1 or fpdQbf-
moss issued BY virtue hsresf. shaiI \.
"a arc hereby declared to have the
iahties of negotiable paper updsr fbs
" merchant and shall not be fnvsES
= any irrsgularity or defect IN fhe
eesedinEs for the Issue ana sais
ereef, and shall BE- incont esfa bic 4,
. hands Of bona ffde purchasers or
'iasrs thereof. Ne prscssdinrs In r..
eet TO the issue Of any such bsnds
ties or certificates OF inlebtednsss
All be necessary, except such a. arr
quirsd By this Act.
Section 5. Be 1t further enactsS 40
iaf the funds collected annually .r3t
rsets1 TO be set APART and paid int
tate hiEhway Fund No. 2. Chef Mem
VI ana Hanu1ond-New Orleans atofs
ghways," under the provisions Of thts
( directed to be applied to the con
ructfon OF the said Chef Heuteur ana
Orleans State HIGH
,ys, are hereby pledged to nav fbe
incipal and interest on said bonds
ties or certificates OF fndebtedness &c
: same shall become due and paws HE
q II shall be the duty Of the Treas
Or Of the State Of Louisiana to tram
from said State Highway Fund M
chef Menteur and Hammond New Or.
ms State Highway" to the credit IF
ecial account to be known MS fb~
tate Highway Fund No. .. Chef Men