New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-05-05
Deferred Business.

~ I'll tlmc ny giving uiteon uoJe uo'iSS'
Respectfully.
L. 1. DELASSIZE,
Administrator.
Deferred Business.
Administrator Shaw called up the compul-
sorry ordinance levying tax of one-eiGhth
of one per cent for park purposes, which
was put upon its final reading, and the yeas
and nays being called. was adopted by a
= unanimous vote.
Administrator Finley called up the pro-
posed addition to the rules, which was
adopted. as followa:
The Secretary shall keep q calendar Of
referred and deferred business. which sha'l at
all times be subject to the inspection OF the
Mayor and Council. Deferred business may
be taken up by vote of the Council among
unfinished business. Referred business,
when not reported upon ct the next regular
meeting of the Council after reference, may
be taken up by vote at the succeeding regu-
lar meeting thereafter.
Administrator Shaw called up the resolu-
ton sppropriating $4,000 for engraving Of
bonds, which, On a yea and nay vote, was
unanimously adopted.
Fisca. Agency and Floatirg Debt.
TIE ordinance to amend an ordinance en-
titled IAN ordinance to provide for the
extinction of the floating debt of the city of
New Orlans, and the issue of bonds for the
payment thereof was read second time.
The following resolution was offered:
WHEREAS, The Bank of New Orleans he's
= been selected as the Fiscal Agent OF the city
ri New Orleans and Administrator of the
N .oating Debt OF the city of New Orleans,
nd,
IgWhereas, The terms upon which the appli-
Nation of the Bank of New Orleans has been
MADE fer said trusts, have been submitted
no, and approved by the Council.
Be ii RESOLVED. That the Mayor of the city
of New Orleans be authorized to apppear IN
behalf of said city, before the City Notary,
for the purpose of executing and signing the
act to be passed for that purpose, between
said bank aud the city OF New Orleans;
that said Mayor be authorized to sign III
his official capacity, the seven notes OF
l. (SlCO O00) one hundred thousand dollars
~esch, which are to be delivered to said bank
in pledge as collateral security for the loans
and advances, which said bank binds Itself
to make to the city of New Orleans; be it
further,
RESOLVED, That the Mayor of the city OF
New Orleans is also authorized to give 70
said Bank of New Orleans mortgage on the
City Waterworks as additional security tor
the reimbursement of all said loans and &C.
yances; be it further,
RESOLVED, That ore Of the clauses OF said
authentic act will stipalate the retention Of
of the Bank of New Orleans until the close
of the year A. D. eighteen hundred and
seventy-two as the Fiscal Agent of the city
of New Orleans and Administrator OF the
Floating Debt of said city.
The Mayor said this proposition was
simply in accordance with the proposition
of the bank, and was designed merely tc
secure the advances ss they were made.
Mr.. West asked if there was not & mistake
in fixing the termination of the agreemen
in the year 1872, which was carrying i
beyond the term Of Office of the preGen
Council. Being informed that the date wa
in accordance with the terms agreed upon
he moved that the resolution be adopted.
Mr.. Shaw seconded the motion.
Which was carried