Year: 1871

treasurer 1Or tQo dluOuut VI tDS
principal ofsaid bonds, with the in


terest accrued thereon up to the


time of the expiration OF the notice


mentioned in the following section


of this act, or such earlier time as


such warrant may be delivered.


SEC. 16. Be it further enacted,


etc, That Immediately after the fill


ling of said report Of said commits


sioners, the company shall cause


notice to be published, specifying


the number of the bonds SO drawn,


and requiring the holders thereof


to surrender the same to said trus-


tee, on or before specified day,
which shall not be less than thirty
days after the publication OF said
notice. Such notice shall be pub
lished in daily newspaper In the
city of New Orleans, and in at least


two daily newspapers in the city OF


New York, for four consecutive


weeks, at least three times in each


week, and upon the expiration OF
the time limited in said notice, the


interest on the bonds, the numbers


of which are specified in such notice,


shall cease, and no interest shall ac-


crue thereon after that time, or be


payable, except to the sinking fund,


as thereinbefore provided provid-


ed, however, that ifany of the bonds


SO drawn shall be payable in the


city Of London, further publication


of said notice shall be made for at


least four successive weeks, at least


three times in each weeks, in two


newspapers published in the city OF


London, and the date specified for


the delivery Of such last mentioned


bonds shall be at least forty-five


days from the time Of the first pub
lication ofthe last mentioned notice,
and the interest ofthe last mention


ed bonds shall cease to accrue ex-


cept to the sinking fund, as herein


before provided) on the expiration


of the last mentioned notice. The


payment for bonds surrendered to
the sinking fund, or drawn from the
sinking fund shall be made in cur
rency, coin or sterling, or their
equivalent, respectively, according
to the tenor of the bonds drawn or
surrendered and the annuaEpay-


ments to bo made by the company
to the trustee for the purpose Of the
sinking fund shall in like manner
be made in currency, coin or ster-
ling, or their equivalent, MS the rrin-
cipal of said bonds shall be payable.
In all cases where any payment is
required by this act, or agreed by
the company to be made in sterling,
if such payment is reduced to cur
rency, the premium in gold in the
city of New York, and the rate OF


exchange on London ruling at the
time when such payment is due
shall Re included, and whenever any
payment SO required or agreed to
, be made in coin is made in curren-
r cy, the premium on gold ruling in


the city of New York, at the time
the payment is due shall be added,
and in case of any decree or re-


covery in any court of this State
upon said mortgage bonds. or any
of them, or upon said mortgage
e the amount due upon such Of said
, bonds as may be payable in coin ol
e sterling shall be ascertained by re
ducing coin and sterling, respective
e ly, into currency according to th'
, foreign-rules. Whenever the tern
e currency" is used in this act, j
{ will be deemed to mean obligationi
& of the United States of America
I which are or shall be by the law
4 of the United States made lega
D tender in payment Of debts.


Sec. II. Be it fun ther enacted
r etc, That the raid mortgage to th
n Governor of the State of Louisian
: shall contain o further provision


that in case default should be mad
f. in the payment Of the interest 9
r said bonds, or any Of them, or q
t the said sukng funi, or any paI
= thereof, and the same shall renal
!, in arrears for sixty days after be
j coming due aud being demanded {
o the said company. the principal {
- all the bonds secured by said secon
j mortgage and then outstandin
,. shall, upon the expiration of sai
!, sixty days, become due and payable