New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-05-10

clrcumstances may require, after notice
duly served on each member thereof ant
on the Mayor, They shall have power no
only to administer the affairs Of the Water
| works, but also make such changes, exten
slons, improvements to said works as the
available resources resulting from half o
the surplus revenues of said works shall
JUSTIFY, provided that no such change, ex
tension, or Improvement shall be made un
Tess Dy unanimous vote. They shall also
nave power to appoint a secretary and
treasurer, collector, and such other sub
Orulhate employees as may be deemed by
Inem necessary to proper management Of
the affairs Of said Waterworks, who shall
all mold during the pleasure of the board
provided that the number of employees shall
IN no case exceed the minimum of those
regularly employed by the Commercial
bank at the time OF the purchase of the said
works by the city. Suits to be instituted
Wnen necessary, or defended by the city OF
New Orleans in the person of her attorney.
The secretary and treasurer of the board
shall furnish satisfactory bond IN the sum
OF i've thousand dollars, with a surety real
estate owner residing in New Orleans.
ResotUed, That said board shall have
power to fix the pay or salary OF the Score
tAry and Treasurer, which shall not exceed
- dollars per annum, and to regulate
their own compensation for their services,
which shall not exceed per anuum s. -
for the Chairman and s. for each of
the other two members, and shall also fix
the pay or salary of the Collector aud other
employees, which shah in no case exceed
the minimum heretofore allowed in similar
cases by the Commercial bank.
heSotUed, That all collections made OF
amounts due the. said works shall be daily
deposited in the bank chosen by the city as
6er hscal agent. All checks for the with
drawal OF funds so deposited shall be signed
oy the Chairman of the Board and the Sec
Rotary and Treasurer, and no check shall
be drawn unless with the special authority
previously obtained from the board to be
evidenced by the minutes thereof, and
unless to meet the current expenses of adj
miristratiOn and the interest coupons on
the bonds assumed, and those issued by the
cityof New Orleans regarding said works.
ReSotced JulTher, That the residue of the
surplus revenues OF said works shall consti-
tute sinking fund for the purchase and
redemption Of the bonds due BY the CITY on
account of said waterworks and shall not
be otherwise appropriated under any cir.
cumstance.
Resotood, That the said board shall sub.
nit monthly to the Common Council of the
city detailed statement, showing specifical.
ly all amounts collected and the services
wheretrom realized, and all amounts dis
OuloON1 VIII bllG hdilGS VI DdTbLCS 10 WHOM
paid, and all other particulars; such state.
ment to be duly sworn to by the Chairman,
Secretary, and Treasurer, before the Mayor,
AS true and correct in every respect
ReSOtUed further, That the Presidents of
both Boards of the Common Council, the
Chairmen of the Finance Committees of
said boards and the Mayor of the city shall
compose supervisory board. in cases OF
urgency to empower the Board of Commits.
sioners to do and perform I'll acts not herein
provided for, provided that the circum.
stances of each case shall be reported by the
Mayor to the Council at its first or second
meeting subsequent thereto.
ReSolued, That as this ordinance is adopt.
ed in anticipation of the purchase of said
works by the city, it shall be regularly pro-
mulgated, but shall have force and effect
in the'evenuonly of such purchase, and shall
go only into operation at the moment such
purchase shall have been finally con,
summated.
Referred to the Finance Committee at the
last meeting.
The Board, on motion, adjourned.
ALFRED B0URGES,
Secretary.