The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-11-29
MAYoRALrY OF NEW ORLEANS, J
City Hall, Nov. 10, 1868. (
rNx non NJ CT

I ABSORPTION OF THE VARIOUS ISSUES OF CIT,
rixAscRs OF THE CITY OF NEW ORLEANS. TO BI
SUBMITTED TO THE APPROVAL OR DIsAPPR0vAI
OF THE QUALIFIED VOTERS OF THE CITY Oh
NEW ORLEANS.
| WHEREAS, The Common Council of the city OF
| 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 Coua-
cil 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
($3 900 000) three million dollars dated December
i, 1865, 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 seminar
nual coupons.
SEC 2. BE aftrt1ter 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 In city notes
and under no conditions shall be sold for less than
par.
SEC. 3. Be further ordained, etc., That in ad.
dition to the present taxation tax Of "a one
% On the va1e Of
sonal property and on the amount of each
and every license paid into the city treas.
nry by the party following the profession
licensed, within the corporate limits of the city of
New Orleans mot exempted ylaw from taxstion),
and that the same be and is hereby set aside and
pledged to be used solely and exclusively for the
payment of the interest and the re.
demption 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 in
the city of New Orleans as may be designated by
the Common Council.
SEC. A. Be il further ordained, etc., That the
bonds to be issued under the provisions of this or
dinance be and the same are hereby exempted
from taxation by the city.
SEC. b. BE further ordained, etc., That all
city notes received In exchange for or in purchase
OF the bonds to be issued under this ordinance,
shall be cancelled and defaced daily as thew
are received into the treasury and whenever thew
snail amount to the sum Of one hundred thousand
dollars, shall be publicly destroyed in the manner
prescribed by existing ordinances. Ir--- |
sEc. o. BE further ordained, etc., That ell |
ordinances or resolutions conflicting with this or
finance be and the same are hereby repealed. |
md that this ordinance shall take effect from |
and after its approval by majority Of the quail.
leo voters OF tne city OF New Orleans voting at
pecial election to be held under the provisions of
his ordinance.
Sec. T. Be itfiTfler ordained, etc.. That after
EN- days proclamation by the mayor in the official
ournal of the city of New Orleans, the quail.
lpon to approve or dsapprove this ordinance. |
nose voting sfirmatively to have printed or
written on their ballots, " For issue Of bonds"
hose voting negatively, against issue of bonds.n
The polls to be opened and the election con.
ucted in accordance with existing laws and ordi.
ances, and returns to be made to the mayor.
Ill persons registered under the late registration
aw OF the State to be considered qualified voters.
(Signed) THOMAS MARxxy
President Board Aldermen.
toigneo) JOHN BRGEN,
resident pro. TEN. Board Assistant Aldermen
Approved Nov. 10. 1865.
(Signed) JOHN r. CONWAY Mavor
true copy:
JOHN W. OVERALL, Secretarv.