St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-10-09

0A0udAy OA Iu0 LEI o6y VI y UAO 1'Ao
the 1st day Of December in each year.
Be 1t further ordained, etc., That
the serial number, amount and ma
turity of each of the said seventy
five bonds shall be as follows, To-
wit:
Serial No. Amount Maturity
l to 20 500 each Dec. 1, 1928
81 to Is 800 each Dec. l, 1929
46 to rs 500 each Dec. l, 1880
Be it further ordained, etc., That
the said bonds shall have attached
coupons representing interest there
on at the rate Of five per centum per
annum from the first day of Deem
Der, 1920, payable semi-annually o.
the first day of June and the first
day Ut December Of each year.
Be 1t further ordained, etc., That
said bonds shall be issued for tho
purpose of Smelling the streets of thu
Town of Covington and making other
necessary and indispensable public
Improvements.
Be 1t further ordained, etc., That
the bonds shall be signed by the
Mayor and attested by the Seer
tary, and shall be in the form and
couched in the language and fguers
as follows, to-wit:
UNITED STATES OF AMERICA
Public Improvement Bonds Of the
Town of Covington,
State Of Louisiana.
$4,000 $4,000
The municipality of the Town CT
| Covington, State of Louisiana, for
value received hereby promises 20
pay u bearer on the list day of De-
cember. 49,, the sum of 500 II
gold coin of the United States, OF
the present standard of coinage, with
interest thereon at the rate Of five
per centum per annum from the LIST
day " December of each and every
year except the first upon which will
be payable one year after date, up
on presentation and surrender Of the
coupons hereto attached as same
shall mature. The principal and III
terest on this bond is made payable
at the office of the Commerc al Bank
& Trust Company, of Covington,
Louisiana.
This bond is one Of a series Of rs
bonds, numbered from one to seven
ty-fve, both inclusive, of the s6e-
nomination of One Hundred ($1Uul
Dollars each, and aggregating Sew
enty-Five Hundred ($7500) Dollars,
issued by the municipality of the
town of Covington, State of Lou 81
ana, for the purpose of Smelling tho
streets OF the town of CoVington and
making other necessary and indi.s-
pensahle public improvements, by
virtue Of the authority conferred by
Article 232 and Paragraph Four CT
Article Psi of the Constitution, aud
Act Sc of the General Assembly of
the State Of Louisiana for the year
1915, and the said bond was espe"i-
ally authorized at q meeting of The
Town Council held at Covington,
Louisiana, on the 7th day of Sep
TENDER, 1920, in accordance with
said Act.
Tho debt represented by the sa;G
rs bonds was incurred and the bonds
were issued by virtue of the autho-.-
ty conferred by the Constitution aud
Act referred to and conforming to
the results of an ordinance voted by
the Municipal Council of the Town
Of Covington, on the 7th day of Sep
TENDER, 1920, authorizing the Mayor
and Board of Aldermen of the said
Town Of Covington to levy each year
from out the taxes the said Board
is authorized to impose, under the
| Constitution, the sum of 1 q mills
| on the assessment Of the property
of the Town of Covington, or so
much thereof as shall be sufficient to
pay the principal and interest on
said bonds, in accordance with law,
and it 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 this
| series in order to make them legal,
binding and valid obligations of the
municipality Of the Town Of CoVing
I ton, have been performed in due
form as required by law, and that
the legal Indebtedness of said bonds
| of the Town Of Covington, including
| this issue Of bonds, does not excel
! the constitutional and statutory limi-
| tatio1s of Indebtedness.
In witness whereof the Mayor and
the Board of Aldermen, as the gov
erning authority Of the said Town,
have caused this bond to be issued,
Esigned and sealed with the corporate =.
| seal OF the said Town of Covington,
State Of Louisiana, all of which ware
| affixed hereto by its Mayor and Sec
| rotary on behalf of the said Town on
the ........ day Of. ...... 1871.
Be 1t further resolved, ETC., That
the Town Of Covington, La, shall
be aud remain obligated to the pay
ment Of said bonds and Indebtedness
with the interest thereon and this
ordinance authorizing the issuance
| thereof and shall be and remain lr-
repealable so long as any of said
| bonds and interest coupons shall re-
main outstand .ng and unpaid and