Bogalusa enterprise and American. (Bogalusa, La.) 1918-19??, 1919-11-06

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the dollar of the assessed valuation
of the taxable property of the Bo-
galusa School District, for the uur-
pose of providing for the payment of
the fractional portion of the principal
Of an issue of Three Hundred $780,
000.00) Dollars of bonds of the said
Bogalusa School District, dated De-
cember LIST, 1919, authorized to be
issued at an election held on the 2Ist
day of October, 1919, which will be-
come due on December 1st, 1920,
and for the purpose of providing for
the payment of the interest of said
bonds, which will become due on
/ June 1st, 1920, and December 1st.
1920, and that copy Of this ordi-
nance be forwarded both to the Tax
Collector and the Assessor of the
Parish of Washington.
This ordinance having been sub
mltted to a vote, the vote thereon
was as follows:
Yeas-Messrs. o. E. Morris, L. T.
Richardson, G. C. Knight, /. ].
Green, ]. A. Moore and Willie Flu
sell.
Nays--None.
And the ordinance was declared
adopted.
The following ordinance was of
fered by Mr.. L. T. Richardson, and
seconded by Mr.. l. j. Green:
AN ORDINANCE
An ordinance providing for the
sale of the Three Hundred $780,
100000 Dollars of bonds, of the Bo-
galusa School District.
Be it ordained by the Washington
Parish School Board, acting as the
governing authority OF the Bogalusa
School District, that the offer of the
Hibernia Bank and Trust Company
| of New Orleans, Louisiana, for the
purchase of the Three Hundred
Thousand (S3O0,000.00) Dollars of
bonds of the Bogalusa School Dis
trict, dated December LIST, 1919, and
authorized at an election held in said
School District on the 21st day of
October, 1919, for the purpose of
purchasing, constructing and equip
ping school buildings within said
School District, be and the same is
hereby accepted, which said offer
was submitted to this governing au-
thority, by the said bank in writing,
and which is in the following words
and figures, to-wit:
October %, 1919.
Washington Parish School Board,
Franklinton, Louisiana:
Gentlemen-For your Three Hun
dred Thousand Dollars of bonds of
the Bogalusa School District, dated
December /, 1919, and authorized at
an election held in said School Dis
trict, on the 21st day of October,
1919, for the purpose of cosntruct-
ing and equipping school buildings
within said School District, we will
pay you the par value thereof and
accrued interest to date of delivery
to US. This offer is made subject
to the following terms, viz:
/. Prior to delivery of the bonds
and payment therefor, you are to
furnish US the legal opinion of Mr..
John G.. Thomson, bond attorney of
New York City, approving the valid
ity of this bond issue, and the final
approving opinion of the same attor-
ney after delivery is completed and
payment made under the terms of
this contract.
2. The funds arising from the
sale of said bond issue are to remain
on deposit with the Hibneria Bank
and Trust Company of New Orleans,
Louisiana, to be designated by ordi-
nance of your School Board as the
fiscal agent for the depository of
said funds, without interest, subject
to check only for the purposes for
which these bonds are issued.
8. We agree to furnish security
for the said deposits as required by
Act 205 of the General Assembly of
the State of Louisiana for the year
1912.
A. The principal and interest of
said bonds are to be payable at the
office of the Treasurer of the Wash
ington Parish School Board, at
Franklinton, Louisiana, or at the OPP
ton of the holder at the Chase Ma
tional Bank of New York, N. Y.
5. Certified check of 100000
is enclosed herewith to be held by
you in case of acceptance of this
offer and applied as liquidated dam
ages in the event we fail to comply
with the terms of this offer, other
wise said check to be returned to US.
Yours very truly,
HIBERNIA BANK & TRUST CO.,
By P. Fl. WILKINSON,
Bond Officer.
Be it further ordained, ETC., that
the President and Secretary of the
Washington Parish School Board, are
hereby authorized and directed to do
all things necessary, to make deliv-
cry of the said Three Hundred Thou
sand $500, 000.0 0) Dollars of bonds
to the said Hibernia Bank and Trust
Company, of New Orleans, LOUISE
ana, and to collect the purchase price
thereof.
Be it further ordained, etc., that
in compliance with the terms of the
aforesaid offer, the Hibernia Bank
and Trust Company of New Orleans,
La, is hereby designated and made
the fiscal agent of all the funds Of
II. D. Il.