New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-04-03

issued, ana 70 WnQm, giving tHe uul1DeI
each bond, and what coupons are ATTACHED
And he shall quarterly furnish to the AZ
m!nistrator of Public Accounts stateme1
of the numbers or series of numbers OF co,
pOns in his hands not paid. to be destroye
upon the order of the Council, in the pr
sence Of at least two members thereof, an
of two citizens, not members: and be sha
furnish the Administrator of Public Al
counts with the originals, duly Cancelled,
all coupons paid, to be attached tor pr,
servation in books of registry. which sha
be kept by the Department OF Pubic AZ
counts, showing, upon the report OF the At
ministrator of Finance all bonds issued,
whom, and what for. what their numbers
and the coupons as presented and PAID.
| Read twice and laid over.
BY Mr.. Shaw:
An ordinance to provide for the issue OF az
sessment bonds.
SECTION |. Be it ordained by the Council
| of the city of New Orleans, That the Mayo
and Administrator OF Finance cause to b
engraved and prepared for signature AM
issue street assessment bonds, as follows:
STREET ASSESSMENT BOND FOR IS.
City of New Orleans, January l. 13-.
The city of New Orleans IS justly ant
truly indebted to ----. or the Deare
hereof, in the full sum of - -- dol
lars (insert denominations OF $50, 500, S5O
and $1,000, which sum the said city hereby
binds itself to pay in ten years from dat
upon the presentation hereof with lnteres
at the rate of seven and three-tenths Pc
cent per annum, payable semi-annually, II
New Orleans or New York, at the option o.
the holder.
This bond is issued unCe- and il
accordance with section ten OF act No
AZ Of 1871, approved March Is, 1871
amending section twenty-five Of act No. I
extra session of 1870, approved March 16
1870, for paving. grading and improvements
of the streets of New Orleans. And its pay
ment is guaranteed by annual assessments
for the int rest and one-tenth Of the princi
pal which are secured by like lien and priv
lege with all other city taxes. and e1igibie
in like manner upon the property fronting
upon the streets SO improved; which assess
ments are recorded in the mortgage Office
SEC. =. Be it further ordained. etc. That
the said bonds shall be signed by the Mayor
and Administrator of Finance. To each
bond there shall he attached twenty cou
pons Of interest. The bonds shall be issued
upon the warrant of the Administrator OF
Public Accounts by the Administrator of
Finance. who shall return daily to the De-
pa tuuCAL VI uUilC ittCOuG % d StdtCilitht VI
the bonds issued, their numbers, to whom
and for what. and coupons issued. or re-
tanned unissued, which latter shall be de-
strOyed in the presence Of the Mayor and
Administrators of Finance and Public Ac-
counts: and coupons paid shall be Cancelled
and returned to the Administrator of Public
Accounts, who shall attach them for pre-
servaton to registry wherein shall be re-
corded the particulars relative to each
bond issued. which are required to be re-
ported by the Administrator OF Finance to
the Department of Public Accounts. In all
settlements. allowance shall be made in
favor of the holder of the Surveyors GER
titicate for interest from its date and IN
favor OF the city tor the elapsed part of the
current coupon, If issued.
SEC. 3. Be it further ordained. etc. That
the Council shall. as soon as practicable at
ter the beginning of each wear levy an as
sessment upon the property fronting eac.-
street or streets improved. and upon which
payments will come due during the year,
at the full face OF the bonds is
sued in payment of the same b. the city.
sufficient to pay the annual interest and
one-tenth of the principal. in equal proper
ton according to the running front foot.
distinctly defining the limits. or the street
or parts of streets EN- braced in the paving
assessed for.
SEC. 4. BE it further ordained, etc. That
at any time after the completion o. The work
for which any property may be liable. the
amount and terms OF assessments shall he
IL the mortgage Office. including
The whole ten years. with the date o. the
surveyors certificate. upon the completion
If the work fronting each property, from
which date the annually recurring pay
- sbal haa,ypo Il ! ;e-tI