New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-11-01

the maximum amount to be advanced by
said bank
SEC. ?. First-That for and in considera-
ton OF the aforesaid loan OF sl,2o0,OJ0, the
CITY OF New Orleans does hereby bind itself
10 issue no more certificates OF appropIla-
ton. bonds or evidences OF indebtedness OF
any kind whatever, before the fifteenth dag
Of March. 1873, except in fuliiiment OF eX-
listing contracts or f0riDdebtedness already
incurred. or as authorized by act OF the
Legislature or by the terms OF this ordl-
nance.
Second-That for and in consideration Of
the loan aforesaid the city OF New Orleans
hereby bndsitself to continue the Louisiana
Savings Bank and Safe Deposit Company as
Fiscal Agent Of the city Of New Orleans un-
til the twenty-siXth day Of October, 1871,
unless said Louisiana Savings Bank and
Safe Deposit Company should sooner, OF its
own accord. reiinqui8h the SAINT; shat until
said date Of the Jweuty-siEth day OF Octo-
Der, 1877 said Louisiana Savings Bank and
Safe Deposit Company shall be the deposit
Orv Of all the funds OF the city OF New Or
leans, in accordance with SeCti0n seventeen
of act No 70 Of the Legislature OF Louisiana
of 1872, and that the city OF New Orleans
will not attempt in any way to disturb said
Louisiana Savings Bank and Safe Deposit
Company in the full enjoyment and posses
sion Of all the rights and privileges now be-
longing to it as Fiscal Agent of the city OF
New Orleans, but will protect it III the
same.
Third-That the city Of New Orleans
agrees to alter and does hereby alter the
limit of time allowed in the first part OF sec
ton eight, ordinance No, 1923, Adminlstra-
ton series, from six months from the pas
sage Of said ordinance to the first day of
October, 1873. and until said date OF OctO-
Der I, 1873. said Louisiana Savings Bank
and Safe Deposit Company is hereby grant
ed the refusal Of e. 900, 600 tol the new con
sOlidated loan, at ninety cents on the dol
lars, lawful money of the United States,
and whenever any part OF said loan shall
have been negotiated, the city OF New Or
leans hereby binds itself to deliver to said
Louisiana Savings Bank and Safe Deposit
CompanS bonds of the new consolidated
loan, duly signed and sealed at the atore'
said rate OF ninety cents on the dollar, cur.
rency, in such amounts as may be called
for. to the limit OF G2000,O0O as above, the
proceeds to be used in accordance with the
terms OF act No. g of 1872. and ordinance
Ne. 1928. Administration series. That, in
accordance with previous usage. the bonds
Of the new consolidated Soan shall be made
payable TO the Fiscal Agent, TO be counter.
signed by some VersoR appointed 0y the
Fiscal Agent:
Sourth-ThaH for the foam Of 81 100000,
made nv +he J,oI1isiana SAYINGS Bank and
Safe DeDosis Compapy to the civ Of New
Orleans az provided by section one OF this
ordinance. tho city shall pay said bank on
the amounts actually received Interest at
the gate OF eight per cent per annum, in
cold nav9bln on the FIRST dav of January.
J972 and N gbe end of each o11arter there,
after. That as spcurity for the aforesaid
man fine riYv shall ;aenn to Yha Louisiana
Savings Bank and Safe Deposit Company,
n addition 10 tile warrants provided to be
issned IN ordinanca No. 1912 Administra.
+iop series. as follows: Warrants for the
,7aIL o,nr.o.itta+aG bonds IN s,l,n. of, $50 600
for evoI.,- : Il g0n of CbIioa+iors named in
scc,ion n,,p' redeemed and raturned to the
ADMINISTRATORS az P1bIic Accounts. and fol.
ma cac}, IA varnnl as rr.vidad for in ancfion
.,,o ,La sifv r.rahv binds i+s4I. ~ .leliy4r,"
SAID hani. SI0N6e in ten 0er cent bonds,
.a,;as = For nvarv s1O 000 cash received il
heinto vol understood that these bonds are
delivered to the bank as security only, anu
ava % no ro+nIned IN the same yron6rtion
suhana,,er, N, irs9aIlrnpnt If thr loan Is maid
That Tar iii warrants for new consoIid.te9
hor6c hoII IN the hank as collateral Sc.
rnritT :rom the city. the .;ty shall exchange
the bonds a. soon as printed and delivered
to The 0epaTtInenIt u FlRa nee ana "4 1fa
Inc "a iT o aacbod = dN o@ a - , "a.
tionai security for said loan. til. Mayor is
hereby directed TO give notes ia favor OF
the louisiana Savings Bank and Safe De- Dc
po5nI ~ ~, IN r. NJ e9ne 70 he
executed in due form before the notary OF
be city Of New Orleans, as follows: -. ooo
| tIe S' 'l,S. ,, ,,,,Sl a. 10 Am,
On = French vegetable and fruit
cn nif%b, 3et ..................... 100000
! On the .55encH meat niat6ei''''''' '93'90 0o
On the W'2n4 nia a.s5 5 80 , '','00