The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1918-11-02

1
provided further. that said Hammsnd-
New Orleans UighwAy sail be provided
VITA culverts or eth - sagineer inE out
Iet OF passing the Same vsluns Of
water ~ - now passed or In the fu-
ture shall be Dassel ~ the ouIvsrtG or
other engineering outlets in the road
ped Of the Illinois Central Railroad
parallel to said HammondNe Orleans
Highway.
That before any such contract 10 let
~ herein provided. same shall be ap
proved by the Board Of Liquidation Of
iskana.
seetion 2. Be It farther enacted. etc.
fnas n eSAsr to provide fands fer In
construction, eonplstion and naints-
nance OF the above mentioned high
s ways' the Secretary Of State from and
sha gi "a. a. . f,ssf Gay q January; 1918.
practical. deposit with the State Treas-
urer Tor the account Of the Highway
department. OF the State Of Louisiana
81 motor vehicle licenses collected I'M
ser The provisions Of Act No. Sse Of
pc osasral Assembly Of the State Of
louisiana Tor the year 1914. approved
July ,. 1914. from the Parishes ef JEFF
tsTsen, 81: Charisy. st. John the Zap
s uss TsnSipehsa, D. TammSny and Or
Pc paia BY the state Treasurer into .
epsetai fund to be known as state
aiShway Fund No 2, Chef Nsntsur and
aanHena-Nsw Orleans State High
Vehicle ucsnsss paid into said State
Highway Fund Ne. :. Chef Mentesr ard
hanmond-Nsw Orleans State High
ways from the parishes above emu
meratsd, The state Treasurer shall like
wise pay int said FUND sush pertion
er sufficient amount out of the Special
Road Tax collected under Article 2s1 Of
tne CsAsutufisn Of the State of Lou
lsianA Of 1913 from the Parish of Or
isanS - may be necessary to create and
naiutain IN said fund = sum Of Sixty
TheusanA Dollars per year, which said
special fund II hereby set apart and
dedicated for the purpose Of paying any
and all contracts heretofore made and
bends, notes or certificates Of indebt-
Sdnsss made or issued by the Board of
LIQUIDATION Of the State Dsbt of the
State Of Louisiana to provide Moneys
Ter the sssts Of constructing saia hizh-
waya.
Section T. BE II further enacted, etc..
That In order to provide ready funds
for the payment Of the contracts pro-
xided for In Section 1 Of this Act the
Beard OF Liquidation OF the state Debt
OF the State Of Louisiana shall have au-
thorfty to issue bonds. notes or eertfff-
Gates Of indebtedness In anticipation OF
the collection and receipt of the taxes.
licenses and revenues set apart and
9edicased to We said State Highway
Fund No. g.. Chef Msntsur and HAM
Bsnd-Nsw Orleans State XiCh ways"
payable exclusively from the said spe-
eial fund. which said special fund II
hereby set apart and dedicated to the
RayFsnt. principal and interest. Of any
sdnsss.
Section 4. BE Il further enacted. etc.
That the Board Of Liquidation Of the
Itass Debt 81 the State Of LoNisisna
snau have power to borrow money for
the purposes OF financing the sonstruc-
ton and completion OF the said Chef
mentsur and Hammond-New Orleans
Highways hsrsfnabovs referred 10.
and 70 that end may issue bonds
nosss or certificates Of Indebted
esed the sum Of Seven Hundred Thou |
sand Dollars, in such sums and denou-
inauons ~ the said BOARD shall pre-
scribe. not less than Five Hundred Del
ais each. may be registered bonds.
notes or certificates of Indebtedness. or j
PAYABLE to bearer, a. may be prefsrred. /
ana shall be dasiRnatod a. Chef Men
ssur and HanmoAa-Nsw> Orleans state
H,garay Bonds. or Notes or Certffi-
49, OF indeotednsss: that at the dts
81 said bonds. notes or certificates of
nae otadnsss shall be payable from one
70 twenty years. Said bonds. notes or
ce .t'tlcatss OF indebtedness may con-
.s4n sucn provisions as may be deemed
expsdient for registration in the mama
OF the holder. or for the release there
ei from registration: shall bear inferest
Rt the rate not exceeding five mar
centnm per annum, payabis at such
s,~s or unses as the Beard may pre-
nent OF principal and interest sha (.
li1ed by the said Board. SAID hnr5
aoese or certificates of indehosSna..
a mail De soid to the highest bidder It
lhirtv S Ss,e Al not less than par after
d d Liquidation Of the State bsbt Of the
state OF Lonlsiana In New Orlaana rft-
ago. and New York: and the monav
.rsns from the sals thereof shall Be
;ount>pf the Highway Departmsnt ~
ne state of Louisiana, and to the crsSft
y the state Highway Fpnd NJ
;se aentsur and Hammond New o.,
sans StSts AAshway4" and emily pail
say Enginser approved Nv The Hresi-
ssns OF the Board Of State Engineers
,aia ponds. notes or osrtificates 81 in
'rsa :aan be signed by the dow
. ne Auaiter and the Treasurer
9 Me state Apy coupons attaohsS
hereto ahaiI hear the fac slmile 1r.s-
ere OF the Treasurer Of the State lnv
e nds. notes or certificates Of indoht,
' 'ns al si n ~ virtue hereof. shall be
qualities Of negotiable paper undsr ths
aw merchant ana shall net be inyaiS
81 any frrsgularity or defect IN the
recssdtnos for the Issue ana sale
hsreof. and shAii be insontssta bic in
ns AaAes q bena ffds purchasers or
elders thereof Ne Drsese4fnrs IN re.
Dest - the Issue Of any such bends
etSs or certificates OF indsitednesS
naii De necessary. except such a. are
e9uired by this Act.
Section s. Be It further enacted. etc
nat the funds collected Annually and
irects1 to be set apart and pafd fnfe
state Highway Fund No. 2. Chef Mem
5ur and Hannond-New Orleans State
'irnwsys.' under the provisions Of this
ct directed to be applied to the con-
truction of the said Chef Menteur spd
Larnmond-Nsw Orleans state High
rays. are hereby pledged to paw The
rincipal and interest on raid bonds
otes or certificates of fndsbtsdaess as
ne same shall become due ana pavahis
nd 1t shall be tho duty OF the Tres.
rsr Of the State Of Louisiana to trans
u from said State Highway Fund No
Chef Menteur aud Hammond-Nsw Or
sans State Highway to the credit 81