The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-11-28
MAYoRALTY OF NEW ORLEANS,
City Hall, Nov. 10, 1865.
TNo lean al

| AN ORDINANCE PROVIDING FOR THE REDEMP ZION AN
| ABSORPTION OF THE VARIOUS ISSUES OF CIR
| TREASURY NOTES AND THE RELIEF OF TIL
FINANCES OF THE CITY OF NEW ORLEANS, TO b
| SUBMITTED TO THE APPROVAL or DIsAPPRovA Al
| OF TIE QUALIFIED VOTERS OF THE CITY Of
| NEW ORLEANS.
| WHEREAS, The Common Council of the CITY O
| New Orleaus has exhausted every means within
their direct control for the relief of the finances
| Of the city and
WHEREAS, They have applied, without success
for assistance from the Legislature of the State
| of Louisiana; therefore
| SECTION l. Bet ordained blythe Common Coun
| cft OF the city Of Nelc Orleans, That the mayor
controller, treasurer and chairmen Of the finance
| committees OF the Common Council be and they
are hereby authorized to issue bonds of the
city OF New Orleans In and for the sun OF
,000) three million dollars dated December
/, 1868, and payable twenty five years after date
in the legal currency of the United States. and
bearing interest at the rate of seven and three.
tenths OF one per centum per annum, in semi. an.
Dual coupons.
SEC. 2. BE IL further ordained etc., That these
bonds shall be used exclusively for the purpose of
absorbing the various issues of city treasury
notes, and shall be offered for sale 10 city notes
and under no conditions shall be sold for less than
par.
SEC. 3. Be ii further ordained, etc., That in ad
di'ion to the present taxation tax of "a one
fourth of one per cent be levied anuu.
ally on the assessed value of all real and per-
sonal property and on the amount of each
and every license paid into the city treas.
ury by the party following the profession
licensed within the corporate limits of the city of
New Orleans mot exempted BY law from taxation)
and that the same be and is hereby set aside aud
pledged to be used solely and exclusively for the
payment of the interest and the re-.
dempton of the bonds to be issued by virtue of
this ordinance, and that this annual tax shall be
deposited daily. when collected, in such bank iu
the CITY of New 0rlpQna % ms ha otadl l,
the Comm Council.
SEC. 4. Be It further ordained, etc.. That the
bonds to be issued under the provisions Of this or
dinanoe be and the same are hereby exempted
from taxation by the city.
SEC. 5. BE IL further ordained etc., That all
city notes received il exchange for or in purchase
Of the bonds to be issued under this ordinance.
shall be cancelled and defaced daily as they
shall amount to the sum OF one hundred thousand
dollars, shall be publicly destroyed In the manner
prescribed by existing ordinances.
SEC. 6. BE IL further ordained, etc., That all
ordinances or resolutions conflicting with this or
dinance be and the same are hereby repealed,
and that this ordinance shall take effect from
snd after its approval by a majority OF the quail.
ned voters of the city OF New Orleans voting at a
special election to be held under the provisions of
this ordinance.
ten days proclamation by the mayor in the official
journal Of the city of New Orleans, the quail.
he'd voters OF the city Of New Orleans be called
upon to approve or disapprove this ordinance.
Those voting affirmatively to have printed or
written on their ballots, For issue Of bonds:v
those voting negatively, against issue of bonds.n
The polls TO be opened and the election con-
Quoted In accordance with existing laws and ordi.
nances, and returns to be made to the mayor.
Ali persons registered under the late registration
law OF the State to be considered qualified voters.
(Sgned) THOMAS MARKRY,
President Board Aldermen,
. tSlgned) JOHN BRsEN,
PRESIDENT pro. TEN. Board Assistant Aldermen.
Approved Nov. 10, 1868.
(Signed) JOHN r. CONWAY. Mavor.
A true copy:
JOHN W. OVERALL, Secretary.