Louisiana's Treasury Chief Investment Officer, John Broussard, said the family had 'sort of, I think, given up on being able to collect on all of them, because when they went looking for the original paying agent and the paying agent no longer existed, and they were at a loss as to what to do and someone suggested they contact our office.' Many of them were in tatters and being underwater and then stores in the heat and humidity of the attic for nearly 20 years. The man recently passed away and his family discovered the valuable pieces of paper while clearing out his house. Once the worst of the devastation was over, the man went to the bank to collect his water-logged bonds and bring them home, where he evidently placed them in a plastic bin in his attic and forgot about them for the rest of his life. In the summer of 2005, when Hurricane Katrina ravaged the city, the bank, including all of its safety deposit boxes, was completely submerged. This Louisiana man had, at some point, purchased the bonds and stored them in a safe deposit box at the Whitney Bank in New Orleans. That’s why I encourage people to call our offices and check it out before you discard it as something insignificant or trash,' he said. 'In the case of the heir to these old bearer bonds, it amounted to a cash value of more than $250,000. That’s how you got paid your interest on bond.' 'In order for a person or an entity to get paid the interest on the bond that they purchased, there were these coupons attached to the bond certificate, and literally you would clip the coupon and the coupon had a date and an amount, and you would go to the bank with your coupon on the date that was specified, and they would pay you the amount specified. The man returned to claim the contents of his safety deposit box after the flooding had subsided
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