The New Orleans Democrat. (New Orleans, La.) 1875-1876, 1876-06-07

WHARF BONDS.
Elifor Democrnt--I extract the fol-
lowing communication from Sundays
iesue Of the DEMocnAr:
THE WHARF BONDS.
Efitor re,n0u'dt-fn The DEMoyHAT o. Friday
vtss nibllsh series IT rceo!utinns olersd ~
~ ebeplt ~ nesting q ti,e p,ch sI ays n3
%nsinfinr \ committees to whit u'on Mayor
and PIs,Dry II pa an whars
! knntis. And Us protest against giving away our
SSd nd ,inwarrapfsd series q bonds i. .,,..,.. :,
u fa,s e t ~ may ncpa disn'sriss naned
M flsbury ssp,lcd sr ra ths a nd II
ihs whole thing WINS illegal Che parties II charge
~ the wharves we're doing more ior men EN- .n ,n
Il Il remarkable that such intelligent and In
0airlhe citizens as COMPOSE tbs PROPERTY
!. tf0ubio 81 ascending the marble steps Of the
CITY H4ll 10 inform thomselvge m euO!eci
which they could hays learned ipiIy BY reiersc enc
scssrs one By S1siiins thls gabil 4. a,,5
ihsy w md ne rnsnce neg scres, ~ os nR
aud n14t1plng tho wharf dues fOr the IRltn!ul
t ds' oon Y aefS ns 9ss, ic ween The city
s9a csls ss ss *, so e ssnis y Iss sas
we're originally made, and .pIctges tho wharf
d fSss E ss s Esya n sa Hs s Leeds
ahoTiId 81 Ignorant Of this contract and Ordi-
nance ii evei, more remarkable
Doubtless tho gentlemen I'll tho Prope ~ Hold,
en- Union. In their war aga nst Illegal and
Invalid bQnde fell into the error q im9esniils
that tbs wharf bonds were strlchem WIN IN ~ ",
conditions Of the act Of 1859. M appled by !udg.
billings In his recent decision on the railroad
Nv references TO the provision Of the ACT Of 1859.
II viii BIZ seen that In tho issue 81 the wharf
bonds there WIS strict conformity 70 the condi-
TheSe ;srs, the words Of the statute. az quoted
and applied BY Judge Billings:
And no prinance ~ III. city 81 New Orleans
ANNE sIngla object or work Distinctly specified
therein. and unless such ordinances shall pro.
ds VAR ard sans ior the SnIs Pnyag; os
which snil debt Or loan shsll pe CONTRACTED, and
Tor The full and punctusl dso!largg a. maturity
Hss e e ho s author
iznR the issue of the wharf bonds. and It will be
quickly seen that there has been IN cxact and
literal coinpiiance with the act 81 1854 rArru
Below give the wharf bond. ordi-
nance. which borrow from the columns
Of the PiCdvupe Ut June 4, over the sig.
nature Of Equity and Common Sense. I"
The following Il the ordinance;
MAr i'ss As,| p o Ssw oar ,s,s
No. an -Adu,inlstration series.l
An Ordinance for the Issue Of Bonds for Inn
proveMents " wharycs and L.ndings :.
M. rssa FSa y ri oSsSS Ps hs ss
now being done under the contracts Tor the i'm.
prepayment and recQp7truction Of wharves and
Nav UsIss NJ" and lie Mayor ssd Admni-trstor
u Finance arc hereby authorized and required
e slS2 shs a 2 nm sxns 2, Urn anH re-
Tor The aforgsaid payments: r,.-.
tYs ssa f pocspss ss s ana b. s ssas sP2s
Atlnn III AVA hundred te500l and one thousand
dollars q UInD eneh. ayable In ten tio) years
tenthsl7 s.10) per cont per annull. payable semi
annually. on tho FIRST days OF June and De-
bs L furthcr enacted. etc, That 70 met the.
interest 81 said bonds. and the principal thereof
II mstu Ny. tina receipts of wharfage and levee
des srs ssDE peas ss ne ra
semi annually. on tho first days Of June and
Dscembss "a each and ], eveFy year. ], =. z
Al the due Of reservation, and during the
months " July and January Of each y ar. ten
per contain Of the whole dea "a add,!lon +, - be
ex{ln9uish,nsnt Of the principal Of said bonds
ut the maturity thereof.
~ y further .nactsd ee TINT y,d n 9rG q th 20
tRo duty Of ths Aiministratar d. Finance 70 ap.
Tho interest. aud to the pnrehas. or payment Of
f prosi RHsr that purchases y sid as shall
y syn r ne " f tSs Jes
Adopted hy the Council Of tho city OF New Or
leans. Oeseb.r =; $40 p,a.a, wa,a
-"'' BENZ. II + "ANDEhs. Mayor
will now proceed to supply the
omissions Of Faith" IN his rendering
I" Of the statute, as quoted and applied
BY Judge Billings, i.e.. the provisions
~ the act Ut 1854"
now quote from the 37th section oil
the act o1 1862, and / present the pro-
visions In their entirety, and OF course
without omissions OF any kind:
by " Faith
= From and after the passage Of this
act no obligation or eridence Of debt Of
anu description lrJtdtecey, erCept those
tsyseia authorized, shall be issued bV the
cttu Of NeiU Orleans or under It's author.
itu: nor shall any loan be contracted. I'm.
jexs the same be authorized bv rote o.
the majority Of the qualified rioters o.
said ciiu, MhicH shaiibe taken IN the man.
,icr prescribed bv the CITY Council, Gfte,
ten days proclamation ty the Mayor, II
the newspaper chosen tv the Common
Council; and no ordinance creating a
debt or loan shall be valid, unless FOL
some single object or work distinctly
specified therein, and unless such ordi.
nance shalt provide ways and means fol
the punctual payment Of running In.
tercst during the whole time for which
said debt 81 loan shall be contracted
and FOR the full and punctual discharge
&c maturity Of the capital borrowed OF
debt incurred; and such ordinance shall
not be repealed until principal and In
teroet Of the capital borrowed or tht
debt Incurred are fully paid and dis
charged"
I invite attention to the lines have
italicized Ia the above quotation and re-