The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-12-04
HAYoRALrY OF NEW ORLEANS.
City Hall. Nov. 10, 1865.
TNn 1Ioa NJ or :

Il Q
AN ORDINANCE PROVIDING FOR THE Rxpxxpr,ou NJ
1 ABSORPTION OF THE VARIOUS ISSUES OF CRY
TREASURY NOTES AND THE RELIEF OF THE
FINANCES OF THE CITY OF NEW ORLEANS TO Bs
SUBMITTED TO THE APPROVAL OR DIsAPPRoy A =
OF TIE QUALIFIED VOTERS OF THE CITY OF
NEW ORLEANS.
| WHEREAS, The Common Council Of the c;tv NJ
New Orleaus has exhausted every means within
saeit direct control for the relief of the finances
OF the city; and MOO 49,, = -
WHEREAS, They have applied, without success.
Of ass,ssance rom the Legislature Of the State
SECTION l. Bet ordained by the Common Coun.
81 ?J tne Guy OF Neto 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
so;oO0 O00) three million dollars, dated December
1, 1865, and payable twenty five years after date
10 me legal currency of the United States, and
pesring interest at the rate of seven and three.
TENNIS OF one per centum per annum, in semi.s an.
nual coupons.
SEC. 2. Be afuther 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 citv notes
and under no conditions shall be sold for less than
par. -
SEC. 8. Be IL further ordained, etc., That in sd.
dtion to the present taxation a tax Of "a one
d lou OF one per cent. be levied snuu-
sonai 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 BY law from taxation).
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-
dempuon 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 ia
the city of New Orleans as may be designated bv
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. o. BE u 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 they
are received into the treasury, and whenever they
shall amount TO the sum OF one hundred thousand
dollars. shall be publicly destroyed In the manner
prescribed by existing ordinances. :
sEc. b. BE further ordained, etc. That all /
ordinances or resolutions conflicting with this Or
dnance De and the same are hereby repealed.
and that this ordinance shall take effect from |
snd after Its approval by majority of the qusli. /
leo votefs OF the city OF New Orleans voting at |
his ordinance. VI
Sec. z. Be IL further ordained. etc.. That after
en days proclamation by the mayor in the official
ournai OF the city of New Orleans, the quail
lpon to spprove or disspprove this ordinance.
Those voting afirmatively to have printed or
written on their ballots, "For issue Of bonds:r
hose voting negatively, Against iasue Of bondsn
Inc polls to be opened and theelection con-
ucted In accordance with existing laws and ordi l
ances, and returns to be made to the mayor.
III persons registered under the late registration
aw OF the State to be considered qualified voters.
tclgned) THOMAS MARKKY
President Board Aldermen.
tSlgned) JOHN BREEN,
resident pro. TEN. Board Assistant Aldermen.
Approved Nov. 10, 1868.
(Signed) JOHN r. CoSwAy Mavor
A true copy:
JOHN w. OVERALL aecyetovv