The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-10-21

millions of dollars OF bonds on one nunOTeO
and twenty-five miles Of prepared roadway OF
said line have been issued.
Provided that the city Of New Orleans shall
not in any manner become responsible for the
principle. of said bonds nor for the interest
thereon otherwise than for the term OF years
specified.
Sec. 4. That tax, not exceeding two mills
on the dollar on the assessed value Of proper
ty. to provide for the prompt payment OF said
interest coupons, as the same fall due, Is
hereby ordered to be levied annually on all the
real estate situated in the city of New Orleans,
tor and during ssthe years of 1875 to 1885 in
elusive. Said taxes shall be payable at the
Office Of the City Treasurer, and shall be col
| lecte0 IN the same manner as all other city
taxes, but the amounts so collected shall be
set apart ard held as a special trust fund,
which under no circumstances shall ever be
used, either as whole or in part for any
other purpose than for the payment of the in
| terest on the said railroad first mortgage
bonds, as herein provided.
The Fiscal Agent Of the city shall be the
custodian of the fund for the payment of said
interest, and the said fund shall be known as
the "Texas Railroad Interest Fund" It shall
be the duty of the City Treasurer to pay over
to the city Fiscal Agent. on every Monday,
the amount of the Texas Railroad interest tax
collected during the next preceding week.
It shall be the duty of the Administrator of
Assessments to include the Texas Railroad in
terest tax of two mills in the list of taxes levied
tor the year next ensuing and the city tax
payers shall have the privilege, if they so elect,
to pay said railroad interest fund tax in adj
vance of and separately from any and all
other taxes
SEC. S. That this aid, by the city of New
Orleans, for the construction of a railroad to
,kV,V 81
to be organized and completed by the corpo-
rators specified, shall not be transferred to any
other company or organization, nor shall it |
be diverted or used for any other purpose than |
is herein provided, to-xit: the construction |
and equipment and operation of railroad |
from New Orleans to Central Texas by the
company designated as to be organized as pro-
vided in this ordinance.
Sec. 6. That this ordinance shall take effect |
from and after its passage, and it shall be the
duty OF the Mayor of the city to provide for
taking the vote of the qualified electors of the
city OF New Orleans, at the general election to
be held on the second day Of November next.
on the question, "For a Railroad to Texas"
and approval of this ordinance, or against
a Rallroadto Texas " and rejection of this ordi-
nance /; and If majority OF such electors, vot-
ing on the question, vote against railroad to
Texas, and for rejection of this ordinance,
then this ordinance shall be null and void.
The committee was instructed to wait on
he City Council and urge the passage OF the
ordinance.
On motion, committee of ten, composed
# the gentlemen whose names follow, was ap- \,
pointed to prepare an address to the people of t
he State: Messrs. Bussey, Gardner, Black,
dadden, Howard, Schmidt, Seixas, Girardey. l
raymond and McElroy. /
The following resolution offered by Mr.
'eixas was adopted: /
Resolced, That the Committee on Address
9 authorized to request the cooperation of
cal estate owners not members of the Cham t
er in preparing an appeal to the real estate T
wners in the city. g
The Chamber then adjourned.