The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1920-10-09


ated in said district; and,
Whereas, Under the constitution and
laws of the State of Louisiana, in or.
der to provide for the payment of such
bonds and maintenance of the drainage
of such lands when reclaimed, the
Board of Commissioners may, when
authorized by land owners owning a
majority of acres of land situated In
said district, levy against the lands sit
uated therein, especially benefited by
such drainage, said lands being shown
by the engineers report aforesaid, an
acreage tax or forced contribution suf-
ficient to pay the interest on such
bonds, the principal, at maturity. and
to maintain the drainage of said dis
trict; and,
Whereas, The petition above set
forth confers on the said Board of
Commissioners of the Bills Drainage
District the authority to levy such
acreage tax and forced contribution;
therefore.
Section 1. Be it resolved by the
Board of Commissioners of the Bills
Drainage District, in regular session
convened:
That the Bills Drainage District do
at once proceed to drain and reclaim in
the manner advised by the Board of
State Engineers the unreclaimed lands
situated In Bills Drainage District,
579.47 acres, same being particularly
described in the report of the Board of
State Engineers as follows: Beginning
at point on the left bank of Red River,
which is prolongation of the bank
line of Red River, thence along said
bank line of Red River, running In
westerly direction and upstream from
the point of beginning to APPOINT II, 2S8
feet, more or less, following the d.
rection of Red River, thence along the
property of W. F. Hyde to a contour
elevation of 81 Cairo datum, thence
along said contour in an easterly direc-
ton to the axis line of Dam "a"
thence along said axis in a southerly
direction to the point of beginning.
Said drainage district comprises a
part of Townohip 2 north, range 4w.,
and township z, north range west,
containing 1872. Is and 447.22 acres re-
spectively; total acreage Of 579.47
acres to be drained.
Sec. BE it further resolved etc.
That to provide funds for the pur-
pose of draining and retaining said
lands. as above described, the Board of
Commissioners of Bills Drainage Dis
trict does hereby incur debt Of thirty
and 20-100 dollars per acre against each
acre of said lands described or an ag-
gregate amount of fifteen thousand
dollars against the whole of 579.47
acres to be reclaimed.
Sec. 3-Be it further resolved etc.
That to evidence the debt of fifteen
thousand dollars herein above incurred
he Bills Drainage District, does here
~ order and authorize the issuance of
'ixty negotiable bonds, numbered from
me to sixty, inclusive, for the sum of
.wo hundred and fifty dollars each, to
'un for period of from one to twenty
7ears, and to bear interest at the rate
# five per centum per annum, payable
'emi-annually on the first day of July
md the first day of January of each
Ind every year, said interest evidenced
~ coupons attached to said bonds
moving the amount of interest due on
ZACH bond until maturity.
The form of said bond shall be SUBJ
as follows:
$50 UNITED STATES OF AMERICA $3.50
PARISH OF GRANT.
Bond No-Billis Drainage District.
Know all men by these presents, that
BILLS Drainage District situated in the
parish of Grant, State of Louisiana,
'or value received, hereby promises to
Jay to bearer on January 1st. one thou
and nine hundred and.
Two hundred and fifty dollars, law
I'll money of the United States of Am
'rica, with interest at the rate of five
Der centum per annum, from January
st 1921, payable emi-annually on July
st and January LIST Of each and every
Date and No. Anst
July l. 1921, 60 semi-annual coupons s3
Nos. ! and 2, Jan. 1, 1922 SIS
July /. 1922. ........
Ian. |. 1923. Nos. and 4............... s5
uiy ~ 100 80.
an. l, 1924, Nos. and .............. SIS
July /, l924..............................
IAN. !, 1925, Nos. 2 and 8 ............... S.
July /, 1925........................
Ian. !. 1926. Nos. and 10 .............. SIS
July /, 1926. .....................
Ian. /, 1927. Nos. II and IL ......... - SIS,
= - "