Year: 1873

however, that until Salu estimate
is made as provided in this article.
the Auditor of the State shall levy
and collect annually, in lieu of
said ten per centum of said esti-
mate, two mills upon the dollar of
the assessed value of the taxable
property of the State. The said
ten per centum of the sum of said
estimates, or the said tax in lieu
thereof, shall be collected at the
same time, in the same manner
and by the same officers as the
ordinary taxes of the State are
collected. Said ten per centum of
the said tax III lieu thereof, when
collected, shall be paid over to the
Treasurer of the State, and shall
be set apart as special fund, to
be known as the s'levee construc


ton fund.- which shall not be used
for any other purpose than as
compensation TO said Louisiana
Levee Company; and said fund
shall be paid on the order OF the
president of said company to the
treasurer thereof,
Z. That the Auditor of the
State shall cause to be assessed and
collected annually for the period
of twenty-one years from and after
the passage OF this act, two-tenths
of one per centum upon the asses.
sed valne of the taxable property


within the State, to be set apart
and known as the levee repair
/ fund, which said fund shall be col
lected at the same time, in the
same manner aud by the same Off
GERS as the ordinary taxes of the
State are collected, and shall be
used for no other purpose than as
! provided. Said fund shall be paid
over to the treasurer of said com
pany upon the order Of the presi


dent thereof, by the Treasurer OF
the State, as compensation to said
company for maintain said leveeS
i'll good and efficient repair, ac-
cording to the standard as herein
berOre provided; provided, how
ever, that On the presentation to
the Secretary of the State of Il
certificated copy Of a Judgment or
decree rendered in any court of
this State, or of the United States,
! together with the certificate of the
clerk OF said court, that the time
within which suspenSive appeal
or writ of errors may be taken by
said company from said Judgment
or decree as provided by law has
expired, and that no suSpenSive
appeal or writ or error operating
as Il suspension has been taken
from said Judgment or decree, or
that said judgment or decree has
been affirmed by the court of last


resort upon such appeal or writ
of error, and that said final judg-
ment or decree has not been paid,
and that said final Judgment or
decree was for damages sustained


by the neglect or failure of the
said corporation to erect or main
tain the said ieveeS as herein pro


vided, the Treasurer of the State
may satisfy said final Judgment or
decree, together with interest and
costs, OF said fund; provided, he
( shall have notified said company
in writing ten days before such
\ payment that said judgment or
decree has been presented to him
for payment, and the payment of
Such Judgment, interest and costs
shall be considered as a payment
to said company to the amount
thereof out of the moneys SO set
apart as provided for in this
article.


! s. That said company shall
have full right, power aud author,
ity to mortgage said funds, and to
transfer by proper instruments in
writing the power OF receiving the
same, or any portion thereof, TO
any person or persons; and the
Treasurer of the State, upon pre-,
sentation to him of such instru,
meut of transfer, shall pay from
said funds such portion or por


tiOns TO the person or persons sc
authorized to receive them; provi.
! ded, however, that if said comPa


ny shall issue its coupon bonds


and shall so direct, all bonds Sc
I issued by this company shall be
registered in the offices Of Public
Accounts and State Trearurer
J with a fac simile of his signature


that to secure the prompt pay
ment of principal and interest o


such bonds as may be issued 10y


this company, a sufficient amount