Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1918-11-01

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
for. and has been designated as q State
Highway by the Highway Department
Of the State Of Louisiana: and for the
construction of all such bridges as may
DO necessary for said road; and for the
construction and completion of q model
State Highway. on such route as the
Highway Department Of the State of
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
provided. that in the construction of
the said Hammond-New Orleans High
way no natural drain shall in any way
De 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 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
~ herein provided, same shall be ap-
proved by the Board of Liquidation of
the State Debt Of the State of Lou
lsiana.
Section 2. Be II further enacted. ETC..
That IN order to provide funds for the
construction. completion and mainte-
nance of the above mentioned high
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
ell motor vehicle licenses collected un-
Der the provisions of Act No. ESQ of
fhe General Assembly Of the State of
louisiana for the year 1914, approved
July 8. 1914. from the Parishes Of JEFF
ferson. st. Charles. st. John the Bap-
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. .. chef Menteur and
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
isiana Of 1919 from the Parish Of Or:
maintain in said fund q sum of Sixty
Thousand Dollars per year, which said
special fund 10 hereby set apart and
dedicated for the purpose Of paying any
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 3. Be It further enacted. etc.
That In order to provide ready funds
for the payment Of the contracts pro-
board Of LIQUIDATION sSS Of q the State si 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.
dedicated to the said state Highway
Fund No. Z. Chef Menteur and Ham
mond-New Orleans State Highway"
payable exclusively from the said spe-
cial fund. which said special fund 10
payment principal and interest. Of any
bonds. notes or certificates Of indebt-
edness.
Section Z. Be It further enacted. etc.
That the Board Of Liquidation Of the
shall have power to borrow money for
the purposes Of financing the construc-
tlon and completion Of the said Chef
Aenteur and Hammond-New Orleans
ai<hwsy: hsrsinabove referred 70.
notes or certincates Of Indebted
ness In any amount not to ex-
oeeo the sum Of Seven Hundred Thou
and Dollars. In such sums and denom-
scribe. not hess than Five Hundred Dol
lars each, may be registered bonds
notes or certificates of indebtedness. or
payable to bearer, ~ may be preferred,
and shall Be designated a. Chef Mem
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
TO twenty years. Said bonds, notes or
certificates Of indebtedness may con.
tain such provisions as may be deemed
expedient for registration in the name
OF the holder. or for the release there
Of from registration; shall bear interest
1t 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
ment OF principal and interest shall be
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
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
the 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
debtedness shall be signed by the Gov
ernor. the Auditor and the Treasurer
Of the State. Any coupons attached
ture Of the Treasurer Of the State. Any
bonds. notes or certificates Of indebt-
edness issued BY virtue hereof. shall be
and are hereby declared to have the
qualities Of negotiable paper under the
law merchant. and shall not be invalid
for any irregularity or defect in the
proceedings for the issue and sale
thereof. and shall be incontestable in
the hands Of bona fide purchasers or
holders thereof. No proceedings In re-
botes or certificates Of Indebtedness
lhall be necessary. except such a. are
Aeeuired by this Act.
Section 5. Be It further enacted. etc.,
trected 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-
struction 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 Indebtedness as
the same shall become due and payable.
and 1t shall be the duty of the Treas
urer Of the State of'Louisiana to trans
fer from said state Highway Fund No.