Abbeville progress. (Abbeville, Vermilion Parish, La.) 1913-1944, 1921-10-29


On motion If Mr.. Mcpherson, see.
ondcd by Mr.. Stebbins, the following
resolution was offered:
RESOLUTION.
WHEREAS, under Article XIV, Sec
, tior II, tL), of the Constitution of the
State Of Louisiana, adopted on June
18th, 1921, it is provided; That
Whenever any subdivision Of ths
state heretofore authorized to incur
debt and issue negotiable bonds there
for has, by a majority vote, in number
and amount, Of its qualified property
taxpayers, authorized its governing au.
thoritv to incur debt and issue negotia.
bic bonds, but said bonds huve not been
sold, the governing authority thereof
may issue and soil said bonds, without
the necessity of an election therefor,
under any Of the following conditionsi
The governing authority of such
subdivision may authorize the issuance
Of said bonds, according to the terms
and conditions set forth AMI contained
III the proposition or propositions sub
mltted at said election, except that said
bonds shall bear a rate Of interest not
exceeding six per cent, payable semi.
annually, after sixty 900 DAY. pib.
i.shed notice of such intention, In
weekly newspaper in the parish in
wIich the bends are to be sold, and il
there is no newspaper published in tn.
parish, by posting in three public places
thercin.''
And whereas, on August 23rd, 1881,
at an election held in the Town Of Alb.
bcvillc, Louisiana, there was submit
to the property tax payers of the
Town of Abbeville, La, such a, were
qualified TO vote as such an election
under the Constitution and laws of the
State of Louisiana, the following pro.
position tO-witi
ITO authorized the Mayor and
Board of Alderman of the Town Of Alb.
beville, Louisiana, to incur debt on
behalf of and in the name of the Town
of Abbeville, Louisiana, to the amount
of One Hundred and Twenty-Five (l2s,
O0O.0O Dollars, and to issue and sell
serial negotiable ssmi:annnal interest
bearing coupon bonds evidencing said
indebtness; said bond. to bear interest
at the rate Of five per centum per an.
mum payable semi annually and TO run
for period of twenty-five (25) yesrs
from date thereof, and both the princi.
pal and interest of said bonds 10 be
secured by sufficient tax to be levied
and collected each wear In accordance
with Article 2s1 Of the Constitution
and the laws Of the State OF Louisiana.
the proceeds from the sale Of said bonds
at not less than par, TO be- used for the
PdrPose OF purchasing and constructing
s'Sfcms If water works and electric
lights with the Town Of Abbevile, La,
title of which snail vest in the Town Of
Abbeville, Louisiana.
And Whereas the proposition abovs
act forth and submitted to tho property
taxpayers of the Town Of Abbeviile,
Louisiana, qualified TO vote under the
Constitution and laws Of the State Of
Louisiana, at said election held on An.
gust 23rd, 1921, was carried nv maj.
orlty of the votes cast in numbers ara
amounts, public proclamation Of which
results was made by the Mayor ana
Board of Aldermen Of the Town of Alb.
oevllle, La, i'll open and public session
IN August oath, 1921, and afterwards
promulgated by publication in the Of
fetal Journal Of the Town of Abbeviile,
La, the Abbeville Progress, ON Al.
'nSt nth. 1921, and tle Mavor and
Board of Alderman of the Town Of Alb.
beville, La. were authorized 70 issue
bonds according 10 the terms and con.
diti"in~ set forth and contained In the
proposition submitted at said alectioni
And Whereas, said bonds have MOI
been issued, but It is the intention Of
the Mayor aud Board Of Aldermen Of
the Town of Abbeviiic, Louisiana, TO
issue said bonds, In Ode time, and as.
cording TO the terms and conditions set
forth and contained in the proposition
submitted at said election, except that
the said bonds shall bear the rate II
six (6%e) per ccntum per annum IN
terest, payable se,ni annually:
Therefore, BE II Resolved. bv IN,
Mayor and Boarl 81 Aldcrmeu If tao
Town OF Ahbeviiic. Louisiana, in .pe-
cIal session assembled, that NOTICE Is
hereby given to whom II docs or rlav
concern that it ~ the intention of this
body 70 issue, in due time, the bonds,
authorized by the property taxpayers
Of the Town Of Abbeville, Louisiana,
qualified TO vote and VINO voted at ths
special election in the Town If Able.
vile. La, on August 23rd., 1921 &c.
cordlng 10 the terms and condition.. set
f"r-h and contained in the proposition
submitted al said eicrtion, erceb, that
the said bonds shall bear interest," a.
the rate Of six t6os) per centum per
snnum. payable semi-Annually,
BE 1t further Resolved That MI. ~.
solution shall be published in In, An.
beville Progress, newspaper published
weekly In the Town Of Abbcvire, L.,
and the official journal Of ,he Town o.
AhbeVille, for SIXTY 800 DAYS, beginu.
ing with the Issue Of September I'm,
1927, and ending with the issue Of Nov.
ember 18Th, 1891, and unless petition
Of remonstrance, signed by ten per con.
tum Of the qualified property tavpayeYs
to the Town If Abbevile, La, be fil.d
with this body within said sbov. IA.
signed period, the bonds authorized
shall be issued with interest Al N. rats
Of six t6R) per rpntum per annum,
payable semi.annually,
The Roll Call on the adnrtion Of N.
resolution, resulted as follows: ]. A,
Boudreaux Yea, A. A. Ddbu, Yea p. Il.
Rroussard Absent u. l.. Mcphpyson
Yea, E. NJ. Stebbins, Yea. And ths
Mavor declared the resolution bnani.
mously adopted.
There hci'r 20 further business the