Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1918-09-06

or Louisiana and MISSISSIPPI, opposite
or nearly opposite, to Logtown, in the
State OF Mississippi. which said road
has already been begun and contra TED
for, and has been designated as a State
Highway by the Highway Department
or 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 a mode
S0te 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 Contra
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-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 culverts or other engineering out
Jet OF passing the same volume of
water az is now passed or in the fu-
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 Liquidat ton of
the State Debt of the State of Lou
1siana.
Section 9 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
I'll motor vehicle licenses collected I'M
Ser the provisions of Act No go 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-
list. Tangipahoa, st. Tammany and Or
leans. all the licenses so collected shall
he paid by the State Treasurer into a
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
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
is!ana OF 1913 from the Parish of Or
leans as may be necessary to create and
maintain in said 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
Tor 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 / 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-
cfal 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 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
ness in any amount not TO ex-
coed the sum OF Seven Hundred Thou
sand Dollars. in such sums and denom-
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 or
payable to bearer. as may be preferred.
and shall be designated as Chef Mem
teur and Hammond-New Orleans State
Highway Bonds. or Notes or Certifi-
erection of said Board adj or any part
Or said bonds. notes or certificates of
nde btedness shall be payable from one |
70 twenty years. Said bonds. notes or
certificates OF indebtedness may con-
tain such provisions az may be deemed
expedient for registration in the name |
OF toe 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 |
tlme or times as the Board may pre-
scribe and the place or places OF paw
ment OF principal and interest shall be |
liked by the said Board. Said bonds.
notes or certificates of Indebtedness
smhm De SOLO to the highest bidder at |
public sale at not less than par. after
thirty days advertisement by the BOARD |
or LIQUIDATION of the State Debt of the
state or Louisiana in New Orleans. Chi |
eego. ana New York: and the money |
arising from the sale thereof shall he |
paid to the State Treasurer to the ace
count Of the Highway Department ~ |
the state of Louisiana. and to the credit |
OF the State Highway Fund No 2
Chez Menteur and Hammond-New Or
Ieans state Highways" and only paid |
out on the warrant of the State High |
way Engineer approved by the Presi- !
dent or the Board of State Engineers
6aid bonds. notes or certificates of in
deotedness shall be signed by the Gov |
ernos the Auditor and the Treasurer
thereto shall bear the Fac-Simile sfrns-
ture or the Treasurer Of the State. ANY |
bonds. notes or certificates of fndeht.
edness Issued by virtue hereof. shall be |
and are hereby declared to have the |
qualities OF negotiable paper under the |
for any irregularity or defect in the |
proceedings for the issue and sale |
thereof. and shan be incontestable in
the hands Of bona fide purchasers or |
holders thereof. No proceedings in re- |
spect to the issue Of any such bonds.
shall be necessary. except such as are |
Required by thie Act
Section 6. Be 1t further enacted. etc.
mat the funds collected annually ana /
directed to be set apar, and paid into |
state Highway Fund No. 2, Chef Men /
teur and Hammond New Orleans State
Highways." under the provisions of this |
Act directed to be applied to the con-
etruction Of the said Chef Menteur and |
Hammond-New Orleans State High |
ways. are hereby pledged to pay the |
principal and interest on said bonds.
notes or certificates OF indebt edness as
the same shall become due and payable.
and II shall be the duty of the Treas
urer OF the State Of Louisiana to trans
FER from said State Highway Fund No.