St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-10-30

said bonds shall be issued for the
purpose of Smelling the streets of the
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 igue:s
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 IL
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 Of 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 Commercial Bank
& Trust Company. Of Covington,
Louisiana.
This bond is one of series of rs
bonds, numbered from one to seven
ty-fve, both inclusive, Of the de-
nomination of One Hundred ($1OuJ
Dollars each, and aggregating Sew
enty-Five Hundred (S75O0) Dollars,
issued by the municipality Of the
town of Covington, State of Lou .si-
ana, for the purpose Of Smelling tho
streets of the town OF CoVington AMI
making other necessary and 1ndis,-
pensahle public improvements, by
virtue Of the authority conferred by
Article 232 and Paragraph Four CT
Article Psi Of the Constitution, aud
Act SO of the General Assembly OF
the State Of Louisiana for the year
1915, and the said bond was espea-
ally authorized at a 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 SAID
70 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 18th day of Sop
TENDER, 1920, authorizing the Mayor
and Board of Aldermen of the sad
Town of Covington to levy each year
from out the taxes the said Board
Is authorized to impose, under the
Constitution, the sum of IL 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 1t 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 tho Town of Covington, including
this issue Of bonds, does not exceeI
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,
signed and sealed with 'the>corpora.s
seal of the said Town of Covington,
State Of Louisiana, all Of which ware
affixed hereto by it's Mayor and Sec
rotary on behalf Of the said Town on
the ...... day Of. ....... 1911 >, .
s..ss
Be it further resolved, ETC., That
the Town of Covington, La, shall
be aud remain obligated to the pay
ment Of sad bonds and indebtedness
with the interest thereon and this
ordinance authorizing the issuance
thereof and shall be and remain IT.
so long as any of said
bonds and interest coupons shall re-
main outstanding and unpaid and
the Passage of this ordinance shall
constitute contract between :he
holder or holders Of said bonds and
the Town of Covington, La, and shall
inviolate and no law or ordi-
nance shall ever be passed relieving
the govern ng authority of said town
from the obligation of annually levy
ng such millage hereinafter dedi-
Gated and pledged and paying the
same on the interest and principal |
Of said bonds.
Be ii further ordained. ETC., That |
the Mayor and Board of Aldermel |
hereby irrevocably pledge and deli
cate the said surplus of one and |
(1&) mills, or so
much thereof as may be necessary,
% tho payment of the bonds above I
'aid, until the same shall be retired
n principal and interest, and such
,ledge and dedication shall BIZ and