St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-10-23
St. Tammany Ice
and Manufacturing Company,
LINZ IT ED.

Ill Nj
per annum interest, payable semi
annually on the LIST day of June ahG
the l3t day Of December in each yes.r.
Be ii further ordained, etc, That
The str.al number, amount and ma
turity OF each OF the said seventy
ave bonds shall be as follows, ID
wit:
Serial No. Amount Maturity
l to 20 500 each Dec. l, 1928
FL to 45 500 each Dec. /, 1929
46 to Is 500 each Dec. /, 1890
Be t further ordained, ETC., That
the said bonds shall have attached
coupons representing interest there
ON at the rate of five per centum PEI
annum from the first day of Deem
Der, 1920, payable semiannually Oh
the first day of June and the first
day Ut December of each year.
Be it further ordained, etc., That
said bonds shall be issued for the
purpose of Smelling the streets of thu
Town of Covington and making other
necessary and indispensable public
improvements.
Be it 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 fgue1s
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 OF
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 ot 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 IN
terest on this bond is made payable
at the office of the Commerce al Bank
& Trust Company, Of Covington,
Louisiana.
This bond Is one Of series of rs
bonds, numbered from one to seven
ty-five, both inclusive, of the de-
nomination Of One Hundred ($10v)
Dollars each, and aggregating Sew
enty-Five Hundred ($7500) Dollars,
icc1 hvy ,ioir oil Of hp
town of Covington, State Of Lou 81
ana, for the purpose Of Smelling Tho
stresss Of the town Of Covington and
| making other necessary and indi.,-
pensatle public improvements, by
virtue of the authority conferred by
Article 232 and Paragraph Four Il
Article 2S1 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 a meeting of he
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 author
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
tember, 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 l X mill ;
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-
ton, have been performed in due
form as required by law, and that
the legal Indebtedness of said bonds
of the Town Of Covington, includinS
this Issue Of bonds, does not excee
the const :tutional and statutory limi-
tatio1s of Indebtedness.
In witness whereof the Mayor and
the Board Of Aldermen, as the gov
erning authority Of the said Towp,
have caused this bond to be issued,
signed and sealed with the corporal
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. ....... 191. {.
Be 1t further resolved, ETC., That
| the Town of Covington, La, shall
be and 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 IT.
| repealable so long as any of said
bonds and interest coupons shall re-
main outstanding and unpaid and
| the passage Of this ordinance shall
constitute a contract between :lle
holder or holders of said bonds and
the Town of Covington, La, and shall
remain inviolate and no law or or1i-
nance shall ever be passed relieving
the govern ng authority of said town
from the obligation of annually levy
mo Qroh nfIla0n hnraiu flor dQJi-