New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-11-21
MAYoRALTY OF NEW ORLEANS,
City Hall, November 10, 1858.
No, 1l3O-New Series.

No. 1l3O-New Series.
An Ordinance Providing for the Redemption and
Absorption OF the Various Issues OF Uity Urea.
City of New Orleans, to be Submitted to the Ap.
proyai or Disapproval of the Qualified Voters Of
the City of New Or cans.
WHEREAS, The Common Council Of the city of
New Orleans has exhausted everyimeans withinthair
direct control for the relief OF the finances of the
Whereas, They have applied. without success, for
assistance from the Legislature of the State OF Lou
sEcT1oN l. Be it ordained by the Common Ooun
Gil OF the city OF New Orleans, that the Mayor Con.
troer, Treasurer and Chairmen of the Finance Com
mittees of the common Council, be and they are
hereby authorized 10 issue bonds of the city of New
Or cans 10 and for the sum of $4,000 000 three mil
lion dollars, dated December /. 1865 and payabl e
twenty-five years after date the legal currency of
the United States, and bearing interest at the rate
OF seven and three tenths of one per oentum per
mum, in semi. annual coupons.
SEC. 2. Be it further ore aimed, ETC., That these
bonds shall be used exclusively tor the purpose Of
absorbing the various Issues OF city treasury notes.
no conditions shall be sold for less than par.
SEC. >, Be it further ordained, etc, That in ad
dition to the present taxation tax of ca one
fourth of one per cent be levied annually on the as
sessed value OF all real and persona property and
city treasury by the party following the profession
licensed, within the corporate limits of the city of
New Orleans mot exempted by law from tsxationl,
and that the sarre be and is hereby set aside and
pledged be used solely and exclusively for the pay
bonds TO be issued by virtue of this ordinance and
that this annual tax shall be deposited daily, when
may be designated by the Common Council
SEC 4 Be it further ordained. etc, That the
bonds to be issue under the provisions of this ord-
nance be and tbs came hereby exempted from
taxation by the city,
SEC. Be it further ordained, etc That all city
notes received in exchange for purchase of the
bonds to be issued under this ordinance, shall be
cancelled and detRced daily as they received into
the treasury. and whenever they shall to the
sum of Oue hundred thousand dollars, shall be pub
lcy destroyed IN the manner prescribed by existing
ordinances.
sko {, Be it further ordained ETC. That all ordi.
nAuce5 or resolutions conflicting with this ordinance
be and the same are horeDy repealed, and that this
ordinance shall take effect from and after its APP
prova by majority OF the qualified voters of the
city OF New OreSus citing at special election TO be
held under the provisions of this ordinance.
SEC. I Be it further ordained, etc, That after
ten days proclamation by the Mayor IN the Official
journal OF the Ctty of New Orleans, the qualified
voters of the city of New Orleans be called upon to an.
prove or disapprOve this ordinance Those voting
arInHtiyely to printed or written on their bal
lots, FOR Issue OF Bonds: those voting negatively
Against Issue of Bonds
The polls to be opened and the election conducted
in accordance with existing laws and ordinances
and returns TO be made to the Mayor All persons
registered under the late registration law Of the
State to be considered qualified voter.
(Signed) THOMAS MARKEY,
(Sigued) JOHN BREEN,
President pro tenn Board Assistant Aldermen.
Approved November ~ 1868.
(SigneO JOHN X. CONWAY, Mayor.
A true copy:
JOHN W. OVERALL. Secretary. nol9lOt