The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-25
CITY COUNCIL.

The City Council met in regular session al
noon yesterday. Hon. @. J. Lseds, Mayor, il
the chair, and all the Administrators present
The Mayor announced the receipt of the
famous bid of the National Water. Works
Company, of New York. for the lease Of the
| Water Works.
An ordinance appropriating $685. "a to pay
sundry bills was adopted.
A resolution amending ordinance 1888 by
reducing fines on masters and owners of
steamboats, for refusing to comply with the in
structons of the Superintendent of Wharves
from $3.50 to 500 was adopted.
A resolution canceling the bond of T. e.
Burke, as Whar6nger, was adopted.
| BY resolution permission was granted to
Abel D'Estampes to erect an oven on the
premises, on GENTLY Road, near Laharpe
street.
In regard to the complaints of citizens of
| the Sixth District, about the cutters, Admin
istrators Burke reported that it was impossi-
long as the police neglected to inforce the
pound ordinance.
An ordinance providing for the exchange
of bonds for Premium Bonds, and to regulate
and carry out the funding plan adopted by
the Council, was introduced by Administrator
Pilsbury. read twice and laid over.
The ordinance directs the Administrator of
Finance, and authorizes him, to exchange all
recognized bonds of the city of New Orleans
and the late cities of Carrollton and jefferson
for Premium Bonds, in accordance with the
plan adopted by the Council and approved by
the Mayor, on the 25th of May. The bonds
shall be dated September /, 1875, and bear
interest at the rate of five per cent per annum
from the 18th day Of July, 1876 and shall be
signed by the Commissioners Of the Con-
solidated Debt.
Section reads: That on all bonds funded,
or hereafter to be funded, under this ordi-
nance, the interest adjustment shall date
from the LIST day of July, 1875, after which
period the interest thereon shall cease.
Section provides for a permanent com.
mittee of six to represent the bondholders in
all matters, and appoints the following as the
committee: John G. Gaines, President Citi-
zens Bank; Thomas A. Adams, President
Crescent Mutual Insurance Company ;,August
BONN, President Mechanics and Traders
Bank; George Jonas, President Canal Bank;
J. II. Oglesby, President Louisiana National
Bank; s. H. Kennedy, President State
National Bank.
Section provides that the bonds funded,
except those redeemed, shall not be Cancelled
or destroyed before April, 1876, that they
shall be registered, labeled and deposited in
a safe manner until the period named.
oecuon nXeS the lotn day OF september
next or as soon thereafter as possible, for the
first allotment of series and the 18th day of
January, 1876, for the first allotment of pre-.
miums, and provides that all subsequent al
lotments of series shall take place on the 18th
of April and 18th of October, and of premi-
ums on the 18th Of January and 18th of July.
Section provides for the reception of bids
by the Administrator of Finance after the |
final allotment of series and the form of
bids.
Section provides for the receipt by the
city OF all drawn series or numbers of Pre-
MUM Bonds for all dues of every description |
at their face value and interest.
number of petitions and communications |
were received, including several relative to |
the drainage of the Sixth District, and ap-
propriately referred, and the Council ad-
journed.