New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-05-19
The Supplemental Funding Bill.

The Governor yesterday signed this bill,
and to-day it will be found promulgated in
the REPUBLICAN as law. Immediately
| after signing it the Governor addressed tho
following letter to the Attorney General.
STATE LOUISIANA }
Executive Department,
New Orleans May II, 1875.
Hon. A. P Field, Attorney General, Louisiana:
SIR have this day signed an act passed
by the Legislature at its recent extra sas-
sion, supplemental to act No 3 of 1874
known as the funding bill The first and
third sections OF this bill carry into effect
the recommendations made by me to the
Legislature with regard 10 the constitution
of the board ana the right of every tax
payer to resist the funding of illegal obli
cations.
The Legislature has thought proper to
attach another provision declaring some
eighteen different series of bonds questioned
and doubtful, aud prohibiting the issue of
consolidated bonds in exchange for such of
these bonds as may be- still uufunded until
their validity shall have been determined
by the courts.
This provision may work hardship to
many innocent holders of valid bonds Of
the State, unless every facility is afforded
them to establish the validity of their OBJ
ligations in the most expeditions manner.
/ therefore request in the case of each of
the enumerated series of bonds, unless the
question has already been decided by the
court OF last resort, that, if possible, you
institute Test case to bring the legality of
these obligations before the courts, and
that you afford every facility to any bond
holder bringing suit SO lat an early deci-
sion may be arrived ~.
Under the provisions of section one un-
derstand these suits will have precedence
in all courts over all other cases, and the
State is required to pay the costs of the
litigation in the event of the bonds being
declared legal. | presume that by agree
ment these cases, If the. can not be decided
at the present term of the Supreme Court,
can be taken to OBelonsas or Monroe, SO
that there need be no considerable delay.
Of the series of bonds named in this act
none. of the following have vet been funded:
Mexican Gulf railroad. $4,000
Levee bond, act No. 30 Of 1865, 81 900 600.
New Orleans. Noble and Texas railroad,
act No. &c of 1869 $750,000.
New Orleans. Mobile and Texas railroad,
act No. 95 OF 1871, s., 100000.
Redemption certificates of Indebtedness,
act No. 5 OF 1866, $250000.
Bput and Crocodile Navigation Company,
$50 600
Or the other series named the following
amounts have been funded Up 10 date:
New Orleans and Nashville railroad,
$4,000.
New Orleans. jackson and Great North |
err railroad, s27S,0
Vck-burg, Louisiana and Texas railroad, |
$4,000.
New Orleans, Orelousas and Great West |
ern railroad, sl2O,O00
Baron Rouga, Crosse Tete and Opeiousas |
Railroad. Si3 600
K liz f OF State treasury, $222, 900.
Free school fund, 1898, 900.
L. wee bonds, act No lis Of 1867. $265, 900 |
Leyee bonds. act No 81 of 1870, 1913 900.
New Orleans, Mi bile and Chattanooga
rait1oaG bonds on com pleted portion of the
road. decided valid by court $4,000.
Nor h Louisiana aud Texas railroad,
1865, 900.
Mi4sissippi and Mexican Gulf Ship Canal
oupany, 500 COO.
Relief OF z. J. Kennedy. 1890
In he case Of the $765O00 of Nor'h
L, II siana and It xas Railroad bonds the
board, believe, acted upon The decision of
be supreme Court elready rendered affirm
lag ihh validity Of that issue
tery RESPECTFULLY,
WILLIAM KELLOGG