New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-11-24
MAYoRALTY OF NEW ORLEANS,
City Hall, November 10, 1858.
No. ll30-NeW Series,


City Hall, November 10, 1853 !
No. ll30-New Series.
An Ordinance Providing for the Redemption and
Absorption Of the Various Issues of City Urea
sury Notes and the Relief of the Finances of the
City Of New Orleans, to be Submitted 70 the Ap:
ProVai or pSsapproyal Of the qualified Voters OF
WHEREAS, The Common Council Of the city of
New Orleans hRs exhausted everyimeans withiuther
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
SECTION i. Be it ordained by the Common Ooun.
Gil OF the city of New Orleans That the Mayor Con
mittees of the common Council, be and they are
hereby authorized TO issue bonds of the city of New
lion dollars, dated December l. 1858 and payable
twenty-five years after date in the legal currency Of
the United States and bearing interest at the rate
of and three tenths of per centum per an
mum, in semi, ANNUAL coupons.
SEC 2. be 1t 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 in city notes and under
NO conditions shall be sold for less than par.
SEC g. Be 1t further ordained ETC., That in ad.
fourth of per cent be levied annually on the
sessed value OF all real and personal property and
city treasury by the party following the profession
licensed within the corporate limits of the city of
and that the same be and is hereby set aside and
pledged to 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
collected in such bank in the city of New Orleans as
may be designated by the Common Council
SEC 4. Be 1t further ordained, etc That the
bonds to be issue under the provisions of this ora
nance be and the same are hereby exempted from
taxation by the city.
SEC. s Be it further ordained, etc, That all city
notes received in exchange for in purchase of the
bonds to be issued under this ordinance shall be
cancelled and detaced daily they received into
the treasury, and whenever they shall amount to the
sum of one hundred thousand dollars. shall be pub
ley destroyed in the manner prescribed by existing
ordinances.
SEQ. 6. Be IL further ordained etc, That all ord
nances or resolutions conflicting with this ordinance
be and the same are hereby repealed and that this
ordinance shall take effect from and after its ap
proval by majority OF the qualified voters of the
Sty of New Orleans voting at special election to be
held under the provisions of this ordinance.
SEC. T. Be it further ordained, ETC., That after
ten days proclamation by tine Mayor IN the Official
journal OF the City of New Orleans, the qualified
voters OF the city of New Orleans be called upon to
prove or disapprove this ordinance. Those voting
a1rmativey to have printed written on their bal.
lots, For Issue of Bonds:" those voting negatively
Against Issue OF Bonds
The polls 10 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
Signed THOMAS MARKEY
President Board Aldermen,
togned) JOHN BREEN,
President pro tenn Board Assistant Aldermen
Approved November 10, 1858.
,(SignedD JOHN r. CONWAY, Mayor.
true copy:
JOHN W. OVERALL, Secretary. nolsl0t