St. Tammany farmer., 1922-06-17

Uduh OF lnG1E S616CtlOA dL O.o POA
cent on daily balances; L. E. French
4 Company, Alexandria, La, $780,
1926. 90 and accrued interest, and 4
per cent interest on daily balances
of the proceeds of the bonds il plac-
ed in bank of their selection; Sc
curity Sales Company, New Orleans,
La, $236,557.35 and accrued inter-
est; Bank of Slidell, Slidell, La,
$243,857.S5 and accrued interest,
the proceeds of the bonds and the
sinking fund to be deposited with
it, without interest to the District;
Henry D. Larcade, $232, 2,551.00 and
accrued interest, net proceeds OF the
bonds to be deposited in a bank of
his selection, without interest to the
District; Commercial Bank & Trust
Company, Covington, La, $241,-
625.00 and accrued interest, the pro-
ceeds of the bonds and sinking fund
to be deposited with it, without in
terest to the District, or $241, ,425
and accrued interest, the proceeds
of the bonds only to be deposited
with it, without interest to the Dis
trict; M. w. Elkins & Company, Lit
tle- Rock, Arkansas, $238.125.00 and
accrued interest, the proceeds Of the
bonds and the sinking fund to be
deposited in a bank to be designated
by them, without interest to the
District; Hibernia Securities Com
|pany, New Orleans, La, $244, 10000
and accrued interest and furnish
blank bonds, the proceeds of the
bonds to be deposited in bank des-
ignated by it without interest to the
District, and the sinking fund to be
deposited in the Covington Bank Il
Trust Company at per cent on
daily balances.
All bids having been read in full
and consideration given same, Mr..
Schneider offered the following reso-
luton and moved it's adoption; sec
onded by Mr.. Singletary:
Be it resolved by the Police Jury
of the Parish of st. Tammany, State
of Louisiana, as the governing au-
thority of Road District No. 2 of
the Parish of st. Tammany, That the
bid of Caldwell & Company for the
purchase of $250,000.00 par vaiue of
5 per. cent bonds of Road District No.
2, advertised to be sold on sealed
bids, in which said Caldwell & Com
pany offer to pay 94.61, or $236,525
and accrued interest for said bonds
and also to obtain for the District
interest at the rate of 3.6 per cent
on daily balances of the proceeds OF
the bonds and of the sinking fund
or tax collections if deposited in 4
bank designated by them and ap-
proved by the Police Jury, be, and
the same is hereby accepted and the
President and Secretary of this Police
Jury and the Treasurer of the Parish
of st. .Tammany, as treasurer of said
Road District No. 2, be, and they are
hereby authorized and directed to
deliver to said purchasers all of said
bonds upon the payment of said
price, and interest accrued from
of said bonds, all coupons for in
terest maturing on April LIST
and previously being detached before
delivery; and that all other bids be
rejected as not being in amounts as
high as said bid of Caldwell & Con-
pany, and the checks of said bidders
be returned to them Immediately;
said bid so accepted being in words
and figures as follows:
Covington, La, June 13, 1922.
Honorable Police Jury Of St. Tam
many Parish, Louisiana, Coving-
ton, Louisiana.
Gentlemen:-For $250,000 Road
Bonds of Road District No. 2 of St.
Tammany Parish, dated April l,
1921, maturing without option of
prior payment serially as outlined in
your advertisement, bonds to bear
interest at the rate of per cent
per annum, interest payable sem:-
bonds to be in denomina-
tions of 100000 each, principal
and semi-annual interest payable at
Chemical National Bank, in New
York, N. Y, We will pay 94.6l
($236, ,525.0O) upon delivery of
bonds at Nashville, Tennessee.
This offer is for immediate accept !
ance and prompt delivery of bonds,
ing the unqualified approval of Hon
orable Thomas E. Furlow, or other |
recognized bond attorneys, as to
legality of issue and sale and the,
of tax and taxing power
to provide sufficient funds for pay
ment of principal and interest when !
due. You to promptly furnish GER
titled transcript.
The proceeds Of the sale of above
bonds and the tax collections to pay |
the interest and retire said bonds
are to be deposited in bank or banks
in the State of Louisiana designat-
ed by US and satisfactory to you, said
bank or banks are to pay $50 on
daily balances on the proceeds OF
he sale and the tax collections. 4
We hand you herewith our certi-
fed good faith check No. 1913 for
100000 to be held and to be for;
leited as liquidated damages If we
.ail to comply with the terms of the
agreement.
Respectfully submitted,
CALDWELL e COMPANY,
BY Harry Dean
On roll call the mem bers of the
police jury voted as follows: Yea:
). Nay: None. Absent: 2.
Mr.. M. P. Schneider offered the
following resolution and Mr.. c. M.
Poole moved its adoption:
Be it resolved by the Police Jury
# the Parish of, st. Tammany, State
# Louisiana, as the governing au-
hority of Read District Number Two
# said Parish, That there is hereby