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

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That said bonds shall have attach
ed coupons representing interest on
said bonds at the rate of five (5)
per cent per annum, from the LIST
day of July, 1918, payable semi-an-
nually on the 31st day of December
and the lat day of July of each year.
That said bonds shall be issued for
the purpose of the aforesaid i'm
provements, to-wit:
The construction and maintenance
Of roads in St. Tammany Parish, and
more particularly the road from
Madisonville corporation line to the
Covington corporation line and the
Parish of Tangipahoa line to the
Covington corporation line
Section 2. Be it further ordained,
ETC., That said bonds shall be in the
form of and set forth in the follow
ing words and figures, and be signed
by the President of the Police Jury
and attested by the Secretary of the
Police Jury, to-wit:
UNITED STATES OF AMERICA
Public improvement Bond of the
f0rlen OF 81. I0mmany, state
Of Louisiana.
The Parish of St. Tammany, State
of Louisiana, for value received,
hereby promises to pay to bearer on
the 1st day of July, 10. =, the sum of
$........ in gold coin Of the United
States, of the present standard Of
coinage, with interest thereon at the
rate of 5 per cent per annum from
the LIST day of July, 1918, and pay
able semi-annually on the LIST day of
July and on the 31st day of Deem
Der of each and every year except
the first coupon which will be pay
able one year after date, upon the
presentation and surrender of the
coupons hereto attached as the same
shall mature. The principal and in
terest on this bond is made payable
at the Office of the Covington Bank
& Trust Company, of Covington, Lou
isiana.
This bond is one of a series Of 80
bonds, numbered from l to 80. in
elusive, of the following denomina-
tons, to-wit: Sixteen (16) bonds
for $1,000; ten (1O) bonds for $500;
and one ~ bond each for 5000,
500. $500 and $780,. 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. Tammany Parish, and
more particularly the road from
Madisonville corporation line to the
Covington corporation line and the
Parish of Tangipahoa line to the Gov
ingtn corporation line. by virtue of
the authority conferred by Article
232 and paragraph 4 of Article 281
of the Constitution. and Act No. SO
Of the General Assembly of the State
of Louisiana for the year 1916, and
the said bond was especially author
lied at meeting of the Police Jury
held in Covington, Louisiana, on the
18th day of April, 1918, in accord
ance with said Act.
The debt represented by the said
30 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 18th 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 1t 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
its President and Secretary on behalf
of said Parish on the LIST day Of
July, 1918.
]. B. HOWE,
President of Police Jury.
F. ]. MART1NDALE.
Secretary.
Section 3. Be it further ordain
ed, etc, That the Parish of st. Tam
many, State of Louisiana, shall b.
and remain obligated to the paymen
of said bonds and Indebtedness will
the interest thereon and this Ordi
nance authorizing the issuance there
of shall Be and remain irrepealabl
80 long as any of said bonds and in
| terest coupons shall remain Outstand
ing and unpaid and the passage O
this ordinance shall constitute a con
tract between the holder or holder
! of said bonds and the Parish Of 81
Tammany, Louisiana, and shall r.
main inviolate and no law or ord
nance shall ever be passed relieviu
the governing authority Of said Pa
ish from the obligation Of annual
levying such millage hereinafter DEF
icated and pledged and paying tt
same on the interest and princip'