St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1918-06-22
AN ORDINANCE.

the amount OF $Z1,VVV.VO, SucQ
bonds being serial, negotiable in
terest bearing coupon bonds ma
turing from l to 10 years in an
increasing ratio until paid. in the
following denominations. to-wit:
Sixteen (16) bonds for $1,000;
ten (10) bonds for $500, and four
az bonds for $500. 500. $500.
and 5000, respectively, and num-
hered from l to 80, inclusive; &C.
curing the payment of said bonds
in interest and principal by dedi-
cation Of one-half mill out Of the
ten mills tax, and providing 4
method for the sale Of said bonds.
Whereas, pursuant to 2 notice
published in The st. Tammany Farm
er. the official journal OF the Parish
OF St. Tammany, Louisiana, on the
18th and Goth days of April. 1918,
the Police Jury Of the Parish of st.
Tammany, Louisiana, met this day
in open session. and having frs.
spread upon the minutes of its pro-
ceedings the budget for its current
year and Having submitted said bud
get for inspection and consideration,
and having determined the exact sur
plus available from the two mill tax
heretofore set aside for road pur-
poses out of the ten mills authorized
oy the Constitution, reducing that
surplus to mills and fractions there
of, and having determined how many
mills and fractions thereof will be
required to provide for tho current
expense Of the parish roads as based
on the last assessment roll filed. and
alter consideration. OF all other avail
able sources Of revenue provided for
IN the budget: and.
Whereas, it appears that an av.l-
able surplus Of one-half mill has been
found; and,
Whereas, it is desirable tc make
certain constitutional Improvements
for the Parish of St. Tammany, LOU
isiana, and to issue bonds for the
purpose Of paying for said improve
ments, to-wit:
The construction and maintenance
Of roads in St. Tammany Parish, and
moro particularly the road from Mad
iscnville corporation line to CoyinS-
ton corporation line, and the Parish
CT Tangipahoa line to the Covington
corporation line.
Whereas, 1t Is necessary for such
improvements, that Q series of so
bonds Of the denominations herein
after set forth can be issued and paid
by q conservative funding Of said
one-half (1-2) mill, or 80 much
thereof as may be necessary to re-
tire said bonds in principal and in
terest; and,
Whereas, the said Police Jury de-
sires to irrevocably pledge and dedi-
cate the said surplus from the said
road fund, O. so much thereof as
may be necessary for the payment Of
said bonds, In accordance with Act
90 Of 1916.
Now, therefore, be 1t ordained by
The Police Jury Of st. Tammany par
lsh, State of Louisiana, in lsgel ees
sion convened:
Section l. That they herebv au-
thcrize the issue of, and there shall
oe issued, under Act 90 Of tho Cen
eral Assembly OF 1915. aud Article
2s1 and paragraph 4 Of Article PSI
Of the Constitution of 1913 Of tae
State of Louisiana. thirty serial
bonds, negotiable interest bearing
coupon bonds of the denominations
hereinafter set forth and numbered
as follows, maturing from. to 10
years in an increasing ratio until
paid; said bonds being dated Coving-
tor. La. July /, 1918, bearing five
90 per cent per annum interest pay
able semi-annually on tho 31st day
of December and the LIST day Of July
in each year; that said bonds shall
be payable each year in the specific
amounts and maturities, as ;olloWs:
bond (No. - for 100000, ina
turing July /. 1919.
1 bond (No. ~ for $4,000, ma
turing July /, 1919.
/ bond mo. 81 for $4,000. ma
turing July l. 1919.
without interest.)
i bond mo. ~ for 100000, ma
turing July /, 1920.
bond (No. s. for $4,000. ma
turing July 1, 1920.
/ bond (No. g. for $4,000, ma
turing July /, 1920.
without interest.)
! bond mo. y for 100000, ma.
turing July 1, 1921.
l bond (No. 81 for $4,000. ma
turing July l, 1921.
l bond mo. - for $4,000, ma
turing July 1, 1921.
without interest.)
bond (No. 10) for 100000, ma
turing July /, 1922.
4 bond (No. 11) for $4,000. ma
turing July /, 1922.
l bond No. 12) for $4,000. ma
turing July l. 1922.
without INTEREST,"
k l bond mo. 49, for 100000, ma
turing July /, 1923.
/ bond ono. ~ for 100000, ma
turing July /, 1928.
l bond mo. 49, for $4,000. ma
turing July /. 1898.
without interest.)
1 bond (No. 16) for 100000. me
turing July /. 1924.
l bond (No. ~ for 100000, m.
turing July 1. 1924.
/ l bond (No. 18) for $4,000, mi
turing July l, 1924.