The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1850-05-13
Proceedings of the Board of Liauidators
SATURDAY, May Il, 1856

SATURDAY, May II 1850.
PTeseIt-The Hon. A. D. Crossm9n, President Messrs.
On NOTION the reading Of the minutes of previous meet
ing was dispensed with.
receive the of the General Sinking Fund.- presented the
following report. which was adopted:
In compliance with resolution passed the 9Th instant
appointing certain number Of Sopmttses 70 demand and
New Orleans and Of the several Sinking Funds Of the SEVERAL
MunicPalues the Special Committee appointed for the
called on he Comptroller, P Deyerges, Esquire, and
obtained from him The delivery Of all the assets and vouchers
furniture of the office have also been delivered to the sece
Your Committee deem it their duty to inform the Board of
position they assumed, upon applying for the transmission
Which belonged to the General Sinking FUND.- which POSITION
being defined by the law creating the Board Of Lqudato
paIdes Of the sets Of the other Sinking Funds
Ds 1n he a ssc g S r Man. ee sk
toE operating the of their respective debts
prior to the division ID 1856 was left untouched The Cou
els OF Aldermen in the three corporations became the admin
eTtan or thereafter to be raised, wherewh the
claims Of and other creditors The power thus
drawn from them BY the Legislature and placed in other
Your Committee consider that the law organizing the Board
of Lqudaors, has operated change of mandatas for SUI
'f npS Gp a'P
der%sn %e for that branch Of The public
case as they can have no other authority than is specially
prompted by the best of motives to continue in the
of functions withheld from them would be nuy and an as
Butt has been urged that the law creating the Board of Lii
qudaos has made another radical change BY providing for
Of the Mnnicpates are affected by the Change Il becomes
the duty Of the municipalities as parties to existing contracts,
Your Committee would humbly suggest that even sup.
posing the rights OF creditors to be affected by the law alluded
to (Which your committee are not at all disposed TO adm
the municipalities being mere fictitious persons cannot act
agents now constituted by law in respect 10 ali that which
concerns the debts Of the Municipalities the Alder.
Councils Aldermen, the Board
and consequently if Municipal corporations honor
and duty bound protect the rights OF their creditors it will
and see those rights safe and unimpared.
1t has likewise been remarked that the assets Of the differ
en sinking funds should be surrendered until the debt Of
each Municipality had been determined and the advertise.
committee consider hat under the third section Of the act
the Board Of Lquidators must ascertain the city and NUM-
take possession and realize the assets Of the various sinking
funds That they moreover must apply the proceeds realized
balance over and above the proceeds Of the said sinking
l9nds, shall form the indebtedness be appooned to each
exchanged and IN view Of Which, the Board are Authorized
to levy tax on the people, The operation therefore, Of de-
funds 70 realize the same must Irecede the act Of deermin
Ing each separate Municipality debt and the publication ii
You Commlttee hope that these views on the position
Board meet with appreciation, and be sanctioned
| by the adoption of this report.
of the General Sinking Fund, which your Council did no
receive from the Comptroller consists olst, the property
sold to the Louisiana State Bank relation to which you
honorable Body have not yet taken action; and Sd
the claims In the hands OF the attorney for lection.
And your Committee beg be discharged from furthe
| trust In the premises. ARNOLD BODIN,
W. p CONVERSE.
The following resolution was presented by Mr.. Converse
ResOped, That sealed proposals will be received from III
~ bs RGss aSd o. 9S ety. for publishing the proceed
specified in law Of this State, approved 10Th March, 1850
On notion the Board adjourned to Wednesday the 18th
'-''' -00'' Ut : ''O' Join CALHOUN, Secretary.