The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-11-24
MAYoRALTY OF New ORLEANS, !
City Hall. Nov. 10, 1865.


AN ORDINANCE PROVIDING FOR THE RKDEMP ZION AMI
| ABSORPTION OF THE VARIOUS ISSUES OF CITY
TREAsuRY NOTES AND THE RELIEF OF THE
| FINANCES OF THE CITY OF NEW ORLEANS, TO Be
SUBMITTED TO THE APPROVAL Oh DIsAPPRovA
OF THE QUALIFIED VOTERS OF THE CITY OF
| NEW ORLEANS.
| WHEREAS, The Common Council of the city OF
| New Oreaus has exhausted every means within
their direct control for the relief of the finances
WHEREAS, They have applied, without success.
for assistance from the Legislature of the State
of Louisiana; therefore
SECTION |. Belt ordained blythe Common Cottn.
| cl of the city of Nep 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
| $4,000 ,OOO) three million dollars, dated December
1, 1865, and payable twenty five years after date
IN the legal currency of the United States, and
bearing interest at the rate of seven aud three
tenihs OF one per centum per annum, in seminar
nual 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 in city notes
and under no conditions shall be sold for less than
par.
SEC. 3. Be IL further ordained etc., That in ad
dition to the present taxation a tax of (D one
fourth OF one per cent. be levied annu.
lily on the assessed value of all real aud per-
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 bylaw from taxstion),
and that the came be and ia hereby set aside aud
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
f,Ommfn
SEC. A. BE IL further ordained, etc., That the
bonds TO be issued under the provisions of this or
dinaDce be and the same are hereby exempted
from taxation by the city.
city notes received ia 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
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
and after its approval by majority of the quail.
fed voters of the city Of New Orleans voting at a
special election to be held under the provisions of
this ordinance.
SEC. z. Be ifur1ter ordained, etc., That after
ten days proclamation by the mayor in the official
journal of the city of New Orleans, the quail
fed voters Of the city Of New Orleans be called |
upon to spprove or dsapprove this ordinance.
Those voting sfhrmatively to have printed or |
written on their ballots, " For issue Of bonds;',
those voting negatively, Against issue of bonds"
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. |
All persons registered under the late registration
law of the State to be considered qualified voters.
(Sgned) THOMAS MARKEY,
President Board Aldermen.
tSigned) JOHN BREEN,
presideuf nrn tam Roard Asa;stant
Approved Nov. 10, 1868.
lSigned) john r. CONWAY, Mayor.
A true copy:
JOHN W. OVERALL, Secretary.