St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-10-16

WIZ
Serial No. Amount Maturity
/ to 20 500 each Dec. l, 1928
81 to As 500 each Dec. 1, 1929
46 to Is 500 each Dec. l, 1890
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 Oh
the first day Of June and the first
day VI 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 figuaEs
as follows, to-Wit:
UNITED STATES OF AMERICA
Public improvement Bonds Of the
Town of Covington,
SCaC6 OF LOUISIANA.
$4,000 $4,000
The municipality Of the Town CT
Coyington, State Of Louisiana, for
value received hereby promises 20
pay t. 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 1st
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 paya bic
at the office Of the Commercial 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 de-
nomination of One Hundred ($10D
Dollars each, and aggregating Ssv
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 indt:,-
pensatle public improvements, by
virtue Of the authority conferred by
Article 232 and Paragraph Four CT
Article 2S1 of thy Constitution, aud
Act sc of the General Assembly of
the State 8f Louisiana for the year
1916, and the said bond was espe"i-
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 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 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, including
this issue of bonds, does not excel
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 Town,
have caused this bond to be issued,
signed and sealed with the corpora.9
seal Of the said Town of Covingtoh,
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.
Be it further resolved, ETC., That