Abbeville progress. (Abbeville, Vermilion Parish, La.) 1913-1944, 1921-12-17
OFFICIAL, MINUTES OF THE
ARBEVILLE TOWN COUNCIL

present and answering r0H can tHc ''i
lowing aldermen:
Messrs. J. Aroacc Bcudrc.ux, y. a.
Dibus, d. l.. Mcpherson.
Absent: f. NJ. stcbbins and +. D.
Broussard.
Amorg other business at this meet
ing, the following proceedings were
had.
Mr.. Samson, attorrey, stated that
,hs time 10 contest the regularity,
formality or legality of tie cpeclai eleT,
ton held on August 23ld, l92l, as wen
as 10 Ale petition of circumstances 10
The notice of intention Of this body To
issue bonds, bearing six per cent per
snpup interest, in evidence Of tire debt
Authorized to be incGr-ed by the elec-
ton Of Aug. 23rd, 1921, had expired
and that the time had arrived to incur
the Indebtedness authorized, and 20 Is
sue bonds in cv; le2ce of the came
He further stated that he assess.
ments of properties in the Town OF
Abbeviile, La, tota!ed something over
s2,607 10000 according to tie Assess
ment Rolls for the year 1920. lie sug'
Ce3ted the issuance Of -2dl bonds TO re-
present the indebte mess Of sl25,O00'Oo
10 be incurred, OF the denomination OF
$4,000, each, and stated that the prin,
cipal Of snid debt, as well as interest
thereon, could be taken care o. by the
imposition Of about q -Four iMll Tax,
but suggested that for the first year
tar Of Five Mills be imposed, this
would create a small sinking fund,
which could later be appropriated
Whereupon, Mr.. A. A. ID; hus prese t.
cd tie following Ordinance, ard asked
the same be read and ADOPTED. The
Ordinance was read, and Mr.. McPher.
son seconded Mr.. Dubus motion for its
adoption. Tie Ordnance follows;
AN ORDINANCE.
OF the Mayor and Board of Alder.
men Of the Town Of Abbevilre, Lou.
isiana, incurrig a debt of One RCndred
snd Twenty-Five Thousand (sl25,000)
Dollars, for and on behalf Of the Town
Of Abbevilie, Louisiana, providing for
the issuance Of two hundred and ff'y
(25o) negotiable bonds, TO evidence
said debt, providing the form Of the
bonds, the denominations thereof, the
time of payment of each an every
bonds, levying and ordering assessed
upon all property in the Town of All.
beville, Louisiana, of q Five ~ Mill
tax, to be used for the purpoce of
paving the principal and interest on
said bonds due In the wear 1922, and
providing for the recordation and pub
fication of this ordinance.
WHEREAS, in accordance with an
ordinance of the Mayo and Board Of
Aldermen of the Town Of ASbeville,
Louisiana, adopt / on June 18th, 1921,
special election was held In the Town
Of Abbeville, Louisiana, on Tuesday,
August card, 1921, at whic,. election
the following proposition was submitted
TO the property taxpayers qualified as
electors under the Constit ltion and
laws Of the State of Louisiana:
Proposition No. Ito author.
lie the Mayor and Board Of Alder
men Of the Town of Abbeville, La
TO incur debt on behalf of and In
TIE name Of the Town Of Able
willie, Louisiana, to the amount OF
One Hundred and Twenty-Five
Thousand (s125,00o.0o) Dollars,
and 70 Issue and sell serial nego-
tiai IL semi-Hnnual interest bearing
coupon bonds evfdencing said In.
debtedress; said bords TO bear in
terest az the rate Of FIVE per cen.
turh (5Te) per annum, PAYABLE
tefli-anndally, and TO run for a
period Of twenty-five years from
date thereof, and both the princi.
pal and interest Of said bol.ds to
be secured BY q sufficient tax to
be levied and collected each year
In accordance with Article 2sl of
the Consultation and the Laws of
the State Of Louisiana, the pro.
ceeds from the sale of said bonds,
not less than par, TO be used for
the purpose ( purchasing and con-
structing a system Of water works
and electric lights within theTown
Of Abbeville, Louisiana, title of
which shall vest in the Town. Of
Abbeviile, Louisiana.
And, Whereas, as will appear by the
process verbal and rroniul, alton of the
results Of said Special Election, by the
TContinded on Page g..
Mayor and Board of Aldermen Of the
Town Of Abbeville, Louisiana, on Au-
gust cath, 1921, that said election re-
suited in favor Of the proposition sub
mitted, and
WHEREAS, under the Constitution
Of the State Of Louisiana, adopted
j. ne 18th, 1921, Article XVI, Section
II a., ii is povided, That:
Whenever any subdivision of
the State heretofore authorized to
incur debt and issue negotiable
bonds therefor has, by a majority
vote, In number and an cunt of its
qualified property taxpayers, au.
thorized its governing authority to
incur debt and issue negotiable
bonds, but said bonds have not
been sold, the governing authority
thereof may sell said boz DIS, with
out the necessity Of an election
therefor, under any Of tie follow
ing conditions:
''Tie governing authority Of
such subdivision NAV authorize the
Issuance of said bonds, according
10 the terms and conditions set
forth and contained In the PROPOSE
ton or PROPOSITIONS submitted at
said election, except that said
bonds shall bear q rate Of interest
not exceeding six per centum pay
able semi-snnually, after sixty (60)
DAYS published notice of such in
tentien, in a weekly newspaper in
the Parish in which the bonds are
TO be sold -
And, WHEREAS, by resolution
sdopted by the Mayor and Board O
Aldermen Of the Town of Abbeville
Louisiana, notice was given OF the In
tentisn Of said body to issue, In Gu
time the bonds (authorized by tn
property taxpayers Of the T wn o
Abbcville, La, on August 25rd, 1921,
according 90 the terms and condition
set forth and contained in IN propc
sition submitted at said election, ex