Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1918-11-08

of Louisiana and Mississippi. opposite.
or nearly opposite. to Logtown, in the
State OF Mississippi. which said road
has already been begun and contracted
for. and has been designated as a State
Highway 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
leans. and In the construction of the
necessary bridges upon said highway;
provided, that in the construction of
the said Hammond-Nev 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 culverts or other engineering out
let OF 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 HammondNew Orleans
Highway.
That before any such contract Is let
as herein provided, same shall be ap-
proved by the Board of Liquidation of
isiana.
Section 2 Be It further enacted. etc..
That In order to provide funds for the
construction, completion and mainte-
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
al Toll fad
Der the provisions OF Act No. EGO of
the General Assembly OF the State of
Louisiana for the year 1914. approved
July 3. 1914. from the Parishes of JEFF
Terson, st. Charles, st. John the Bap-
list, 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 OrIe-ns State High
vehicle licenses paid into said State
Highway Fund No. 2, Chef Menteur and
Hammond-New Orleans State High
ways" from the parishes above emu
wise pay into said fund such portion
or sufficient amount out of the Special
Road Tax collected under Article POI of
the Constitution of the State of Lou
isiana of 1913 from the Parish Of Or
leans as may be necessary to create and
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 It further enacted. etc,
That in order to provide ready funds
for the payment Of the contracts pro-
vided for in 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, notes or cert1ff-
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 fol
the purposes OF financing the construc-
Menteur and Hammond-New Orleans
Highways hereinabove referred to-
4. and to that end may issue bonds
notes or certificates OF indebted
ness In any amount not to ex-
ceed the sum Of Seven Hundred Thou
nations as the said Board shall pre-
scribe. not less than Five Hundred DOL
lars each. may be registered bonds
notes or certificates of Indebtedness. oil
and shall be designated as Chef Men.
teur and Hammond-New Orleans State
Highway Bonds. or Notes or Certifi.
Gates Of Indebtedness: that at the dis
erection OF said Board all or any part
Of said bonds. notes or certificates Of
indebtedness shall be payable from on<
70 twenty years. Said bonds, notes OF
certificates OF Indebtedness may con.
tain such provisions as may be deemed
expedient for registration in the nam,
Of the holder. or for the release there.
OF from registration: shall bear Interest
At the rate not exceeding five pei
centum per annum. payable at such
time or times as the Board may pre-.
scribe and the place or places Of pay
ment Of principal and interest shall b,
notes or certificates of Indebtedness,
shall be sold to the highest bidder a
public sale at not less than par, aftel
thirty days advertisement by the Boars
Of Liquidation of the State Debt of tn,
State Of Louisiana in New Orleans, Chi
cago. and New York: and the none,
arising from the sale thereof shall b,
paid to the State Treasurer to the ac
count Of the Highway Department O
the State OF Louisiana, and to the credi
Of the State Highway Fund No. 2
Chef Menteur and Hammond-New Or
leans State Highways" and only pal,
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
erndr. the Auditor and the Treasure
OF the State. Any coupons alta Oh Q,
thereto shall bear the fac-simile sigma
ture OF the Treasurer of the State. An,
bonds. notes or certificates Of indebt
edness issued by virtue hereof, shall b
and are hereby declared to have tn
qualities of negotiable paper under tn
law merchant, and shall not be invali
for any irregularity or defect in tn
proceedings for the issue and sal
the hands of bona fide purchasers o
holders thereof. No proceedings in re
spect to the issue of any such bonds
rotes or certificates of indebtedness
lhall be necessary except such as ar
eouired by this Act.
Section s. Be IL further enacted etc
That the funds collected annually an
Hrected to be set apart and paid int
State Highway Fund No. 2. Chef Men
teur and Hammond-New Orleans Stat
Highways" under the provisions OF thi
Act directed to be applied to the con
struction of the said Chef Menteur an
Hammond-New Orleans State High
ways. are hereby pledged to pay tn
principal and interest on said bond.
notes or certificates of Indebtedness a
and IL shall be the duty of the Treas
urer OF the State of Louisiana to trans