New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-12-30

our taxauOn JOG. he&Vy either LOT the value
received or the reduced ability of our
property owners to bear. e
On this point at least there is COM
mon interest of all parties, and harmo-
NOUS cooperation will be needed to ef-
feet it.
THE CITY COUNCIL AID PARK BOARD.
The Picayune Of Sunday last contains
the statement that the Council invited the
park board to meet them for consultation,
and then proposed the abolition of the
park board, the repeal of the park law and
that the powers Of the board should be
vested in the Council with authority to
liquidate the affairs Of the park. and that
bill to this effect should be passed
through the next Legislature.
This strikes us as altogether an
exceedingly cool proceeding. Do the
Administrators assume that they are
more competent to manage the affairs
Of the park than Messrs Oglesby,
Rigney, Smythe and other members of
the board? or do they assume that
the funds of the city would be safer in
their hands than under the control of
these gentlemen? With great personal
respect for the Administrators, the tax
payers of the city can not agree to
either assumption. Indeed we are reluct-
ant to place on the city authorities re-
sponsibilities additional to those they now
find it quite burdensome to carry.
1t is not necessary now to consider the
motives and purposes that may have led
the Administrators to make this somewhat
startling proposition to the park board,
bat the proposition more Immediately
concerns our taxpayers and citizens and
should receive their careful consideration.
In the report of the park board, dated
the fifteenth of this month, it is shown
that the park fund now amounts to up
ward of one hundred and ninety-four thou
sand dollars. The park law has been de-
clared constitutional by the courts, and
in obedience to and in accordance with
the law the park tax has been levied and
collected, and it now constitutes special
fund that can be legally used only for
park purposes. Not even the park board
could legally divert it to other uses, nor
would the board be party to or condone
SO plain and grave a violation Of law.
The same report shows that the bonded
and floating Indebtedness Of the park
board amounts to nearly one hundred and
sixty thousand dollars, all Of which is
valid lien against the park fund and must
be paid therefrom in any contingency, and
for the present consideration it is imma-
terial whether the present park fund is in
possession of the park board or of the
city, for in the latter case the creditors of
the board would have only to garnishee
the city, or make it party to their suits,
in order to secure their claims.
Now, in addition to what has already
been paid, and what must be paid in any
contingency, even if the park board is
abolished and the park tax repealed,
sum much too large to be lost, there is
required in order to secure this confessed
II beautiful and valuable property
only the additional sum Of four hundred
and thirty-two thousand dollars in an
nual payments Of ifty-four thousand dol
lars each. These payments are secured
by mortgage notes and vendors lien .on
the property, SO that if the park tax is
repealed, or the park board, for other
defaults in the payment of the
notes at maturity, the vendors can imme-
liately foreclose the mortgage and sell |
out all Of the city's interest in the property.
There is another point in this matter |
hat is worthy of consideration. By the
.erms of the sale in which the notes that |
we're assumed by the park board were
given when default is made in the pay |
nent of one note all become due, and the |
amount is so large that not even the city |
,ould command sufficient cash to be
successful bidder against the holders of |
hese mortgage notes.
It is quite evident to us, and will be so |
o those who carefully consider the sub
ect, that it is for the best interests of the !
,ity, its taxpayers and citizens that the
Dark tax, burden some as it is, should no.
low be repealed, and that the park board
hould carry on the projecs to its com. !
,letion, 1t is even questionable whether /
he park law can be constitutionally sec
,ealed, so far as doing so would 'simpair
he validity of contracts" already made,
nd the city has had quite enough Of
needless and expensive litigation.
The batture land belonging to the park
is now or soon will be needed by
he city, and we suggest that it might be
transferred to the city corpor-
tion. The property from TchoupitouIas
treet to st. Charles avenue is quite large
nough for a magnificent park, and bee
ause of its natural advantages it can, at
small cost, be made into
he finest park in the Southern Stateso