Hurricane Katrina "survivors" stuffed in an attic – bearer bonds. They took the tattered documents to the Louisiana Treasurer’s office, where officials pieced them together 18 years later. "You never know what could be unclaimed property," Louisiana Treasurer John Schroder said in a news release.Hurricane Katrina's storm surge swamped New Orleans then levee and pump failures compounded the flooding. (Louisiana Treasury / FOX Weather)PROPERTY SUSTAIN HURRICANE DAMAGE?
HERE'S WHAT YOU SHOULD DO"So a bearer bond is a bond like municipal bond or anything else that was issued before there were computers," he added. "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.
That's how you got paid your interest on bonds."THE BEASTS OF THE ATLANTIC: 94 RETIRED HURRICANE OR TROPICAL STORM NAMESBearer bond purchasers must bring the actual coupons to the bank to cash in. (Louisiana Treasury / FOX Weather)A Louisiana man bought bonds and stored them in a safe deposit box at the Whitney Bank in New Orleans.
Hurricane Katrina ravaged the city in 2005, and the floods put the bank, all safety deposit boxes and bearer bonds underwater. HERE ARE THE HURRICANE NAMES FOR THE 2023 ATLANTIC SEASONThe Whitney Bank sat on the main floor of this building in New Orleans.