The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-12-05
MAYoRALTY OF New ORLEANS
City Hall. Nov. 10, 1865.
mo. lean 81.

AN ORDINANCE PROVIDING FOR THE REpExP rIoN AMI
! ABSORPTION OF THE VARIOUS ISSUES OF CRY
TREASURY NOTES AND THE RELIEF OF raE
FINANCES OF THE CITY OF NEW ORLEANS IN pv
SUBMITTED TO THE APPROVAL OR nTs.pPpoy. -
OF THE Qualified VOTERS OF THE cry oE
NEW ORLEANS. vi
WHEREAS, The Common Council of the citv NJ
new Orleaus has exhausted every means within
OF the city; and
WHEREAS, They have applied, without success
LOT assistance from the Legislature of the STATE
OF Louisiana; therefore
sEcTioN l. Bet ordained blythe Common Cotn.
cH or ne caty Of Nelc Orleans That the MAYOR
controller, treasurer and chairmen of the finance
committees OF the Common Council be and thew
are hereby authorized TO issue bonds of the
city OF New Orleans in and for the sun n;
so;oOo OOVJ three million dollars, dated December
l, lsoo, and payable twenty five years after dsta
10 the legal currency of the United States. and
bearing interest at the rate of seven and tbree
tenihs OF one per centum per annum in semi.an
nual coupons. ~
sto. =. re rftnther ordained. etc., That these
bonds shall be used exclusively for the burmese of
absorbing the various issues of city treasury
notes, and shall be offered for sale in CITY notes
and under no conditions shall be sold for less than
par. '-'-
SEC. 3. Be IL further ordained. etc.. That in ad.
diiion to the present taxation a tax of IN, one
lourth OF one per cent. be levied annu.
ally on the assessed value of all real and per.
sonai property and on the amount of each
and every license paid into the city treas.
nry by the party folswing the profession
licensed within the corporate limits of the citv Of
New Orleans mot exempted BY law from taxation.
and that the same be and is hereby set aside and
pc1geo 10 DC used solely and exclusively for the
payment Oh the interest and the re.
compton of the bonds to be issued by virtue of |
inis ordinance, and that this annual tax shall be
deposited daily. when corrected, in such bank in |
LIE ci'y OF New orleans as may be designated by
SEC. 4. BE u further ordained. ETC. That the
ponds to be issued under the provisions of this or
finance be and the same are hereby exempted
rom taxation by the city.
=, DEC. .. re further ordained, etc., That all
NY notes received In exchange for or in purchase
u the bonds to be issued under this ordnance
nan De cancelled and defaced daily as thew |
~ received into the treasury, and whenever they
ns ~ amount TO the sum OF one hundred thousand
ollars, shall be publicly destroyed in the manner
rescribed by existing ordinances.
SIC. Q. BE IL further ordained etc. That all
iuhsnces or resolutions conflicting with this or. |
nance be and the same are hereby repealed.
10 tnat this ordinance shall take effect from
DO siter lis approval by majority Of the quail.
ed voters OF the city OF New Orleans voting at A
lis ordinance. "
SEC. Z; BE tftrt.er ordained, etc.. That after
n days proclamation by the mayor in the official
urnsl OF the city of New Orleans, the ouali
"a voters OF the city of New Orleans be called
,on to approve or disspprove this ordinance.
bose voting affirmatively to have printed or
Iitten on their ballots, I" For issue Of bonds"
0se Young negatively. Against issue of bondsn
Inc polls TO be opened and the election con.
cted in accordance with existing laws and ordi. I
noes, and returns to be made to the mayor.
! persons registered under the late registration
(signed) THOMAS MaSSFy '
49, President Board Aldermen.
Ioigneol JOHN BREEN
Approved Nov. l9, 1865.
Signed) JOHN R. CoSwAy Mavor
true copy:
JOHN W. OVERALL, Secretary.