St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1918-05-18
An ORDINANCE.

ratio until paid, In the denoml-
nations Of $1,000 each, numbered
from l to "a, inclusive; securing
the payment Of said bonds i'll in
terest and principal by dedication
of one mill of the ten mills. Pro-
viding method of sale Of said
bonds.
Whereas, pursuant to notice pub
lished in The st. Tammany Farmer.
official journal OF the Parish OF st.
Tammany, Louisiana. on the 18th
and goth days OF April, 1913, the
Police Jury of the Parish Of st. Tam
many, Louisiana, met this day IN
open session, and having first spread
upon the minutes Of its proceedings
the budget for its current year and
having submitted said budget for In
spection and consideration, and hav-
ing determined the exact surplus
availa BILE from the one mill tax, re-
ducing that surplus to mills and frac-
lions thereof, and having determined
how many mills and fractions thereof
will be required to provide for the
current expense of the Police Jury,
based on the lost assessment roll
filed, and after consideration OF all
other available sources of revenue
provided for in the budget; and,
Whereas, it appears that an avail
able surplus of one milf has been
found out of the annual dedication of
F three mills for the general fund;
and,
Whereas, it is desirable to make
i 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:
And more particularly the con-
struction, maintenance and operation
of dipping watts in the Parish Of ST.
I Tammany, as required by law.
Whereas, it is necessary for such
/ improvements that series OF "a
| bonds Of the denomination OF One
Thousand $4,000 each can be issu-
ed and paid by conservative fund
ing of said one CD mill, or so 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 or as much
| thereof as may be necessary for the
| payment OF said bonds in accordance
| with Act 90 Of 1916,
Now, therefore, be it ordained by
the Police Jury of St. Tammany Par
ish, State of Louisiana, in legal ses
sion convened:
Section /. That they hereby au-
| thorize the issue Of, and there shall
! be issued, under Act sc of the Cen
eral Assembly of 1916, and Article
232 and paragraph 4 Of Article 281
4 Of the Constitution of 1915, of the
State of Louisiana, twenty-four (24)
serial, negotiable interest bearing
coupon bonds Of the denomination of
One Thousand ($1O0O) Dollars each,
numbered from l to "a, inclusive,
! maturing from l to 4 years in an
increasing ratio until paid; said
bonds being dated Covington, Lou
isiana, July ], 1918, bearing per
cent per annum interest payable
semi-annually on the LIST day Of July
and the 3lst day of December in
each year; that said bonds shall be
paya BILE each year in the specific
amounts and maturities, as follows:
Six bonds of $1,000 each, matur-
ing July l, 1919.
Six bonds of 81 900 each, matur-
ing July l. 1920.
Six bonds of $1,000 each, matur-
ing July l, 1921.
Six bonds of $1,000 each, matur-
ing July l, 1922.
That said bonds shall have attach
ed coupons representing interest on
said bonds at the rate Of five per
cent per annum, from the 1st day of
July. 1918, payable semi-annually on
the 1st day Of July and 31st day Of
December of each year.
That said bonds shall be issued
'or the purpose of the aforesaid i'm
-provoments, to-wit: And more par
Eicular.y the construction, mainte-
nance and operation of dipping watts
in the parish of st. Tammany, as re-
CURED by law.
Section 2. Be 1t further ordain-
ed, etc., That said bonds shall be in
the form of and set forth in the fol- |
lowing 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
Parish Of St. Tammany, State
of Louisiana.
100000 100000
The Parish of St. Tammany, State |
Of Louisiana, for value received here
by promises to pay to bearer on the
1st day of July. 49,, the sum OF !
100000 in gold coin of the United !
States of the present standard of |
coinage, with interest thereon at the |
rate of five go per cent per annum
from the 1st day OF July. 1918, and !
payable semi-annually on the 1st day |
OF July, and on the 31st day of De-
cember OF each and every year ex-
cept the first coupon which will be
payable one year after date. upon |
the presentation and surrender OF
the coupons hereto attached as the
same shall mature. The principal
and interest on this bond is made
at the ONCE Of the Coving-
ton Bank & Trust Company, OF Gov
ington. Louisiana.
This bond 10 one OF Z series Of
bonds, numbered from