The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1919-08-09
LEyEE BOARD PROCEEDING.
Office Board Of Commissioners OF
Fifth Louisiana Levee District

Fifth LOulSlana LeNee DSSs
Tallulah, La, Aug. 4, 1919.
On the call of the President, the
Board of Commissioners Of the Fifth
Levee District met n spe-
cial session at its domicile, Tallulah,
La, this day.
The Board was called to order by
the president thereof 1890 o'clock
A. NJ, the roll being called, the fol-
lowing Commissioners were present,
answering to their names:
Present: E. ]. Hamley, East Car
roll parish; R. X. Boney and 7. p.
Kell, President, Madison parish; G.
C. Goldman, Tensas parish; E. c.
Rhodes, Concordia parish.
Absent: F. H. Schneider, East
Carroll parish, B. F. Young. Tensas
pahish, ]. H. Lambdin, Concordia
parish.
A quorem being present, the fol-
lowing business was taken up:
The special meeting Of TIE Board
was called for the purpose of rati-
flying and confirming the acceptance
by the president of the bid Of the
Marine Bank & Trust Company and
Commercial Trust and Savings Bank,
which is incorporated and made part
Of these proceedings as follows:
New Orleans, La, July %, 1919
Mr.. T. P. Kell, President,
Fifth Louisiana Levee District Of
the State Of louisiana,
Tallulah, La,
Dear Sir:
Referring to the authority vested
in you by the Board Of Commission
ers Of the Fifth Levee District Of
the State of Louisiana to sell to the
highest bidder 100000 $50 bonds Of
the Fifth Louisiana Levee District, we
hereby agree to pay you par and &C.
crued interest to date of delivery Of
the bonds to us, and in addition
thereto a premium of 54,500.0O.
This bid is made subject to the fol-
lowing terms and conditions:
The proceeds of the sale of these
bonds 10 to be deposited in the Com.
mercial Trust & Savings Bank and the
Marine Bank & Trust Co., New Or
leans, La. without interest, until the
said deposits shall have averaged one
year with the said banking institu-
tons.
It is understood and agreed that il
it should be found necessary to trans.
fer any part Of these funds to the
credit of the U. s. Mississippi River
Commissioners, the said funds will
still be left with the undersigned
banks under the terms and condi-.
tons, to be withdrawn only as worl
progresses.
After these deposits will have av
eraeged one year with our respect
i've institutions, we agree to pay in
terest on the remaining funds at tn,
rate Of go per annum.
y This bid is further conditioned up
on the legality Of these bonds bein,
approved by our attorneys.
i We enclose our check for $4,000. OF
as an evidence of our good faitl
which amount is to be applied by 20,
on the purchase Of these bonds whel
they are taken up by US.
Respectfully,
MARINE Blk. 4 TRUST CO.,
BY John Dane.
II COMMERCIAL TRUST & saw
BANK, by F. E. Gunter, v. P
Referring to the authority veste,
IN me to dispose of the $40, 600. o,
Fifth Levee District Of the State O
La, Sc bonds to the highest bidde
and whereas the Commercial Trus
and Savings Bank and the Marin
Bank d Trust Co., are the highes
in me to dispose of the $500, O00. o,
of the Fifth Levee District bonds, tn
above bonds are hereby awarded T.
said Commercial Trust & Saving
Bank and the Marine Bank and Trus
Co., New Orleans, on their bid of pa
and accrued interest to date of de
livery of the bonds to them, and il
addition, premium of $4,000, to b
paid by them, all in accordance wit
the bid Of the said banks appearin,
hereon. 1t is understood that tn
proceeds of the sale of these bond
are to remain with the banks abov
mentioned in accordance with tn
manner and for the length of tim
outlined by them. It is also unde,
J stood that the bonds are to be an
proved by their attorneys. Receip
lis hereby acknowledged of good fait]
deposit OF $4,000, which check is {,
he returnad to the contracting hank