St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1918-06-15

lions, IO-W1t: Sixteen (4oJ O0u0S
for $1,000; ten (10) bonds for $500;
and one % bond each for $500.
500, $500 and 5000, respectively,
and aggregating $4,000, issued by
the Parish OF St. Tammany, State of
Louisiana, for the purpose of the
construction an maintenance of
roads in St. -ammany Parish, and
more particularly the road from
Madisonville corporation line to the
Covington corporation line and the
Parish of Tangipahoa line to the Cow
ingtn corporation line, by virtue Of
the authority conferred by Article
232 and paragraph of Article 2Sl
of the Constitution, and Act No. IS
of the General Assembly Of the State
of Louisiana for the year 1916, and
the said bond was especially author
lied at a meeting of the Police jury
held in Coyington, Louisiana. on the
29th day Of April, 1918, in accord
ance with said Act.
The debt represented by the said
80 bonds was incurred and the bonds
were issued by virtue of the authori-
ty conferred by the Constitution and
Act referred to and conforming to
the results Of an ordinance voted by
the Police Jury of st. Tammany Par
ish, on the 29th day of April, 1918,
authorizing the Police Jury of the
said Parish to levy each year from
out of the taxes of the said Police
Jury is authorized to impose under
the Constitution the sum of one-half
(1-2) mill on the assessment Of the
property Of the Parish of St. Tam
many. or so much thereof as shall
be sufficient to pay the principal and
interest on said bonds in accordance
with law, and it is certified that all
of the acts, conditions and things
necessary to be done precedent to
the issuance of this bond and other
bonds Of the series in order to make
them legal, binding, and valid obi
cations of the Parish of st. Tam
many have been performed in due
form as required by law, and that
the legal Indebtedness Of said bond
Of the Parish Of st. Tammany, in
Guiding this issue of bonds, does not
exceed the constitutional and statu-
tory limitations of Indebtedness.
In witness whereof the Police
Jury, as the governing authority OF
said Parish, have caused this bond
to be issued, signed and sealed with
the corporate seal of the said St.
Tammany Parish, State Of Louisiana,
all of which were affixed hereto by
it's President and Secretary on behalf
of said Parish on the LIST day of
July. 1918.
]. B. HOWE,
President of Police Jury.
F. J. MARTINDALE,
Secretary.
Section 3. Be it further ordain-
ed, ETC., That the Parish Of st. Tam
many, State of Louisiana, shall be
and remain obligated to the payment
of said bonds and Indebtedness with
the interest thereon and this ordi-
nance authorizing the issuance there
of shall be and remain irrepealable
so long as any of said bonds and in
terest coupons shall remain outstand-
ing and unpaid and the passage of
this ordinance shall constitute a con-
tract between the holder or holders
of said bonds and the Parish of St.
Tammany, Louisiana, and shall re-
! main inviolate and no law or ordi-
nance shall ever be passed relieving
the governing authority of said Par
ish from the obligation of annually
levying such millage hereinafter ded-
icated and pledged and paying the
| same on the interest and PRINCIPAL
Of said bonds.
Section 4. Be it further ordain-
ed, ETC., That the Police Jury hereby
irrevocably pledge and dedicate the
said surplus Of one-half (1-2) mill,
or so much thereof as may be neces-
sary, to the payment of the bonds
above said, until the same shall be
retired in principal and interest, and
| such pledge and dedication shall be
and remain irrepealable by any other
| governing authority of the Parish of
st. Tammany, until the said bonds
are paid in principal and interest.
Section S. Be it further ordain-
ed, ETC.. That aaid bonds shall be
sold for not less than the price now
or hereafter fixed by law. and shall
be first offered for sale by calling for
sealed bids after fifteen (15) days
advertisement, and shall not be sold
for less than par and for cash. Fail.
ure to sell after due advertisement
will be warrant and authority to cell
said bonds at private sale, but not
for less than the legal price, and for
cash.
| Section 6. Be it further ordain-
Cd, ETC.. That all of proceedings pre-
scribed in said Act 96 of the year
1915, relative to tho recording, do.
lays, registration. budgeting Of said
bonds, and the PRONUNCIATION thereof,
shall be followed according to the
provisions esta blished under said act.
Section Z. Be 1t further ordain-
ed, etc, That all laws or ordinances
| ccntDafy hereto or in conflict hero
with be and the same are hereby re-
pealed, and this ordinance shall take
| effect at once.
Read and considered by sections
! and adopted as a whole at stated
meeting Of the Police Jury by a re-
corded aye and naye vote, on the
goth day Of April. 1918.
Approved in open session this 29tn
day Of April, 1918, A. D.
J.: B. HOWE,
| President.
| F. J. MARTINDALE,
| Secretary.