St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-09-25

turity of each of the said seventy
five bonds shall be as follows, TO-
wit:
Serial No. Amount Maturity
l to 20 800 each Dec. 1, 1928
Fl to Is 500 each Dec. l, 1929
46 to rs 800 each Dec. l, 1880
Be 1t 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 Of December of each year.
Be 1t further ordained, etc., That
said bonds shall be issued for the
purpose Of Smelling the streets of tn }
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 Secr-,-
tary, and shall be in the form and
couched in the language and fgue.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 of
Covington, State Of Louisiana, for
value received hereby prom .ses 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 1st
day Ut 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-1ve, both inclusive, of the de-
nomination of One. Hundred ($1Ou)
Dollars each, and aggregating Sew
enty-Five Hundred ($75OO) 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 and
making other necessary and tndi.,7
pensahle public improvements, by
virtue Of the authority conferred by
Article 232 and Paragraph Four CT
Article PSI of the Constitution, and
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 SAID
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 Sop
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 ~ 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,
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,
and valid obligations of the
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, including
this issue of bonds, does not excel
the constitutional and statutory limt-
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'
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
hereof and shall be and remain IT.
'epealable so long as any of said
bonds and interest coupons shall re-
main outstanding and unpaid and |
he passage Of this ordinance shall |
constitute a contract between tlie |
lo.der or holders of said bonds and |
he Town of Covington, La, and shall |
ema:n inViolate and no law or ordi- |
lance shall ever be passed relieving |
he governing authority of said town
rom the obligation Of annually levy
ng such millage hereinafter dedi-
ated and pledged and paying the
anne on the interest and principal
II said bonds.
Be 1t further ordained, etc., That
he Mayor and Board of Alderme 1 |
lereby irrevocably pledge and deii-
ate the said surplus Of one and
hree-fourths (1&) mills, or so
nucn thereof as may be necessary,