St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1922-08-26
Meets in Legal Session for
the Purpose of Re-
ceiving Bids
LIST OF BIDS
RECEIVED, OPENED
Official Proceedings of the
Covington Town Coun-
ell Aug. 10, 1922
COyingtOn, La. Aug. 12 1922

Co7ington, La, Aug. Is, 1922.
The Town Council, sometimes
called the Mayor and Board of Alder
men Of tho Town Of COvington. IN
the Parish Of st. Tammany, State of
Louisiana, met in legal session on
this tho 18th day of August. 1922.
at 11:0O O'Clock a. m, at their regu-
lar meeting place in the Town Coun-
Gil Room on Boston Street, in said
4 Town, pursuant to a resolution pre-
viOusly adopted by said Town Coun-
Gil on July 18th, 1922, and also pur-
suant to legal notice, duly published
for three week in The st. Tammany
Farmer, official journal Of said town
on July 22nd, July 10Th and August
9TH, and in The Times-Picayune a
newspaper edited In the city Of New
Orleans, Orleans Parish, Louisiana
on July 26th, August End and Aup-
ust 9th, 1922, more than 2l DAYS
eiapslng between the date. of the
first publications above mentioned
and the date set for reception of bids
for the bonds hereinafter described,
that they would meet on that date
and at such hour
For the purpose Of receiving bids
for the purchase of $13O,OOO.0OO 35-
year serial payment, $500.0O denom-
ination, Waterworks and Sewerage
Bonds of the Town of Covington,
La, dated July 1st, 1922, maturing
serially on July 1st of the years 1872:
to 1857, both inclusive, bearing in
terest at the rate of 5 Il per centum
per amman, payable senli-annually
on January and July 1st of each
year, and being numbered from one
to two hundred and sixty, inclusive,
and,
Opening and awarding the same.
There were present Hon. Robert
W. Badon, Mayor, who presided; AL
dermen G. u. Schonberg, A. r. Smith
Chas. II. Sheffield, M. P. Planche, H.
"A. Mackie and Emile Frederick.
There were absent: None.
The minutes of the last meeting
were disposed of by motion of c.. E.
schonber:;, seconded by Aldermen A.
r. Smith, and duly carried.
In accordance with the purpose OF
said meetiEg, bids for the purchase
of said above described $3.50, 10000
WaterWoshs and Sewerage Bonds.
dated July 1st, 1922, bearing 51a per
centum per annum interest, $4,000
denomination, 35-pear serial pay
ment, numbered l to $50, of the
Town Of Coyington, La, were re-
ceived in conformity to the adver-
tisement .oc such bids, and the Town
Council then proceed to publicly open
the same.
The following bids were received,
and opened, With the exception OF
those specially mentioned as having
been withdrawn before opening, viz:
The Interstate Trust and Banking
Company, of New Orleans, La, bid
par and accrued interest, and
premium of $3,O5e,
> Or, Par and accrued interest, and
premium of $5,555.55, provided
you designate the Covington Bank
4 Trust Co., or some other Louisiana
Bank, our option, as depository for
the proceeds resulting from the sale
OF these bonds; and also, Fiscal
agent for the sinking fund derived
from same, upon which fund we will
pay 3A per cent upon daily bal
ances."
. Tin both cases, the bidder to be
furnished with duplicate transcript
OF proceedings had incident to issu-
ing o. said bonds, that will evidence
legality to satisfaction of Jno. C.
Thompson, New York;
After opening and reading of the
ABOVE mentioned bids, the following
bidders withdrew their respective
Dlds, before opening, viz:
Marine Bank & Trust Company,
new Orleans, La.
W. l., Slayton &, Co., Toledo, Ohio.
Blanchit, Thornberg. & Vandersall,
Toledo, Ohio.
caldwell & Co., Nashville, Tenn.
sidney Splitter & Co., Toledo, 0.
Wen Roth & Co., Cincinnati, o.
The Council then continued to
open the other bids, as follows:
3 L. Covington Bank & Trust Co.,
Covingtol, La, bid on sold bonds
par and accrued interest from date
OF bonds to date of delivery to them.
and In addition thereto, premium Of
Sz,4l6.00, subject to the following
terms: That the proceeds arising
from the sale of bonds, as well as all
taxes collected for payment of prin-
clpal and interest, are to be deposit
ed In Coyington Bank & Trust Co,
iour per cent interest to be paid on
the proceeds of the sale and three
and one-lalf per cent to be paid on
Continued on page 81