New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-08-23
OFFICIAL NOTICES.
MAYoRALTV OF NEW ORLEANS, I
City Hall, August 20, 1871. !


City Hall, August %, 1871. !
mo. administration Series.I
An ordinance to provide for the extension and per-
lection Of the waterworks of the city of New
Orleans.
SECTION |. Be it ordained by the Council of the
city of New Orleans That for the purpose of extend
lug and perfecting the waterworks OF the said city,
as to procure an ample supply OF pure water as
may be required for purposes specified in this ordi
nance there shall be issued by the CITY OF New Or
leans her bonds to an amount not exceeding
So 500 O00 said bonds to be ofsuch denomination as
the Council may hereafter direct; be signed by the
Mayor, eOuntersigned by the Administrator OF Fl
nance, sealed with the seal of the Mayoraity, and
be made payable to Alfred Shaw bearer in ten
wears after the date thereof The said bon 10 shall
bear interest at the rate of eight per cent per an
mum, covered by coupons OF interest annexed TO
said bonds payable in New Orleans semi annually.
SEC. 2. Be it further ordained etc., That in order
to secure the payment of the aforesaid bonds, and
the coupons thereunto annexed the entire reye-
nue. OF the waterworks of the city of New Orleans
arising and after the date of the issue of said
bonds or any part thereof, whether such revenue
arises from The said waterworks in its present or
improved condition, is hereby declared to be set
apart and to be held and pledged for the payment
of the principal and interest to become due upon
any and all bonds signed and issued ID conformity
with this ordinance, and the Administrator of FL
nance is hereby directed and required as soon as
any bond shall be issued under this ordinance, to
deposit the aforesaid revenue immediately upon
the collection thereof with the Fiscal Agent OF the
CITY of New Orleans, to the credit OF inter st on
waterworks bonds" to such an amount as may be
required to pay interest on the bonds, ana the re-
rnainder TO the credit of redemption or wafer
works bonds the amounts thus deposited to be
withdrawn and used for no other purpose than TO
pay and discharge the interest and principal OF the
aforesaid bonds as the same may respectively De-
SEC. 5. Be it further ordained, ETC., That ad.
ditonal security for the payment OF the bonds ana
coupons aforesaid, mortgage shall be executed
in favor of Alfred Shaw, for the benefit of the
holder and holders of said bonds and coupons,
upon the City WaterwOrks and all improvements,
acquisitions and extensions which may be made TO
the said WaterwOrks, through OF by means OF the
bonds authorized to be is ued by this ordinance, or
the proceeds arising therefron in whole or i'll part.
The Mayor of the city of New Orleans is hereby re-
CURED to execute act of mortgage and OF pledge,
in conformity with this ordinance, before notary
public in the city of New Orleans and with which
act the aforesaid bonds to be identified by the
'paTaph" of said notary.
the bonds to be issued under this ordinance moi
any part portion of the proceeds which may
arise therefrOnl, shall be used fer any other pur
pose than the extension. improvement and per
| lection OF the WaterwOrks OF the city OF Ne"
Orleans.
SEC s. Be it further ordained, etc. That when
ever the city desires to retire said bonds, or any
portion thereof. the Administrator of Finance shall
advertise during thirty days for sealed proposals
ordinance; and no proposals shall be accepted at
| greater price than at par, with the accrued IN
| terest. Should the city fail to obtain suitclenl
proposals. il may by lot retire at par such amount
as may be required. the form OF determining the
same being prescribed by ordinance and on public
the bonds retired, the city shall pay, on rresenta
| ton of said bonds, with accrued interest; and il
default of presentation interest thereon shall cease
in thirty DAYS from the first publication of the ad
vertiseIneut aforesaid.
SEC g. Be it further ordained, etc.. That the city
of New Orleans in consideration of the public sup
ply of water for fire extingushing, street cleaning
| etc. will meet all the current expenses OF the
Waterworks from the general funds OF the city, thu
cost OF the supply to be placed to the account o
the several departments of the city government to
| which it may BE furnished.
SEC Z, Be it further ordained, etc, That for tn
purpose of showing the terms and conditions unde
| which the bonds authorized by this ordinance ar,
| to be issued, the Mayor and Administering OF RI
nance are hereby authorized TO this ordinance
| to be printed on the back of said bonds.
SEC g. Be it further ordained, etc, That this or
dinance shall take effect from and AFTER its passage
Adopted by the Council of the city OF New Or
| leans August p, 1871.
| Yeas: Delassize, Lewis, Walton.
| Nay: Cockrem. -
! BENZ. +. FLANDERS, Mayor
true copy:
| n CoyorEsT CLARKE Secretary au23 1t