The weekly Iberian. (New Iberia, La.) 1894-1946, 1918-10-19

W W. fpi 6hitilE HF HlN HltfIffE Flf ne
cessary funds with which to liuuidate
the Obligations incurred to A. NJ
hockett ~ Company, Limited. aud the
GENERAL Electric COMPANY, the City
81 New iberia, acting through its
Mayor, aud by virtue of these tesnlu.
tions and ordinance of the Mayor aud
Board OF Trustees shall enter into a
contract with such person or persons,
banks or corporations ~Ruhropatiup the
same to all the rights, privileges and
claims which hv law or hy Cnuirart
heretnabove referred to, ate reserved
To A. NJ IoCkett * Company, Limited.
aud the General Electric COMPANY.
the intent being by said s~uhrugatinu
to recognize the party or partiep.
banks or corporations holding tine
certificates of indebtedness herein
above provided for as substitute To
and s~ubrogated 10 all the tighta
claims. privileges and ~pretauaione of
the said A. NJ, Iockett & Comnanv
Limited, to exercise their rights.
ciaims and privileges in the ptemiaeR
IN the same ann and to the same
extent as the said A. NJ. Iockett &
Company, Limited, and the General
Electric Company, may do.
BE it further ordained, etc that ~
order to Consumate these present
transactions on the basis outlined
above, the Mayor of the City of New
Iberia is authorized and directed tn
isFue On behalf of the City of New
Iberia such certificates of indebted
ness, aud TO subscribe to such acte
and deeda ~ may he ueceaaarv To fuI
= a., ., 81 - H. ,..J
into force and effect the objects aud
purposes ~hereinahoye recited.
Re IT further ordained, etc. that in
order further to protect the Raid pet
son or persons. banks or corporations
aud the funds advanced for the put
poses ~hereinabove set forth all of The
Of the New Iberia Electric |
Plant are pledged tn the extent
necessary to retire the monthly in
debtedness on installmeuta. IA herein
above act forth, it being distinctly IN
'lefstood aud provided that the ecuno
mics arising from the substitution OF
The Snow Guide OH Engine. Electrical
NJ achtnery and it's ap~purtennnCeR. for
now IN operation in said electric
light plant, shall he imputed to the
'tttroment OF the obligations herein
,bpve provided for, but that above
md beyond the revenues resulting
rom said changes and improvements.
8 also hereinabove pledged. the May
" &c Board of Trustees of the CITY of
lew Iberia TO impose such electric
ig ht rates and tariffs If the same be
to produce such funds aud
venue IN excess of the present
,,.Ju N q viii lg 80, f,n;, 40 a., .,.,t -. .
monthly payment of Five Hundred l
100000 Dollars, together with the
accruiug monthly in the
vent the present revenues aud The
economies as herein (,
bove recited should not he auiIctent
Or the purpose OF retiring the said I
Nothing shall be con
herein as limiting the payment
I the obligations hereinaboSe reCited I
any other of the civ
( New iberia, or to pay n greater
mount than Five Hundred (@1O0. COZ
dollars per month with the interest
And whereas, the foregoing ordi-
ance having been adopted, is in
,rce and effect, aud II il desirable to
Implement the securities set forth a.
therein without abridginR or =,
nnulling the ordinance M adopted,
ut as supplementary thereto. I
he it further ordained, etc, that 7
'ithout in any manner abridging the /.
of the ordinance az herein '
bove recited calculated to aud in /
to secur the indebtedness ae
erelnabove provided for, 1t is further
rovided for. it Is further provided
1at in order to meet said certificates q
I their maturity, there shall be bud !,
eted annually the amount necessary !
, retire the obligations incurred and
laturing III each particular year, and
lere shall be SET aside annually the '
ruceeds of the collection Of not more
nan two mills per year on the taxable
roperty within the corporate limits
the City of New Iberia out of the
eneral levy which the municipality
now or may hereafter be authorized
, levy for ordinary fixed or statutory
harges; the intent being TO collect
nd set aside annually sufficient
mounts from the proceeds of the two
ill tax TO meet the monthly install
during the succeeding twelve
II being further provided
hat In the event the revenues from
he electric light plant as first herein
bove set forth should be sufficient for
he purpose Of meeting these install.
rents without having to resort to the
lnds collected from the two mill tax
imposed, then the funds derived from
he said two mill tax shall revert to
he general fund.
Be it further ordained, etc. that as
further additional security. the
of the City of New Iberia Ia
ereby authrtzed TO execute a special
,ortgpge on all of the property ac-
uired, az well az the land on which
ne property 80 acquired is situated.
,gether with all the improvements
nd fixtures, line connections, and
roperties of whatever nature that
lay be situated thereon, the said
,ortgage to bear upon all Of the prop.
rty just outlined and being situated
n the lot described as having-feet
ront on Main street, by a depth of
feet, bounded in front by Main
treet, on the South by Fulton street,
II the East by property of Pharr, and
n the West by property of Trainor.
he certificates of indebtedness are TO
G %paraphed Ne Varietur for ideptif
alton with the act of mortgage.
II il further provided that the said
srtifcates of Indebtedness should
ear a clause providing for ten per
.nt attorneys fees, which fees shall
g due, however, only upon the ma
ired nom paid certificates of indebt-
So. ,a, .,l.oH In.,aI prB.,n -,