The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-01-13
THE CITY DEBT.
Resolutions of the Real Estate and Tax
payers. Union.

tNeNVbVNtVUa ~ tNe AAtAS ssshNAe anu Inn
payers UBtan.
At the request OF delegation of the Real
Estate and Taxpayers Union. we print the fol-
lowing resolutions. adopted by that body last
week. with reference to the consolidated and
premium bonds. We note in the proceedings
of the Union proposition to organize as po-
litical body and urge their views at the polls:
Whereas, In tho cause of Maenhaut ct al vs.
City of New Orleans ct al.,. Judge I. Wharton
Collens was appointed, "Special Master In
States Circuit Court for this district to report
to that court upon certain specific points of in
quiry vitality concern ing the consolidated bond
was represented in this said suit In the person
of the Maenhaut heirs ct al; and
Whereas. the report of said Special Master
IN Chancery" has been filed in said, Circuit
Court. as the following extract from the judg-
ment rendered by Judge Woods in this same
cause will show. namely,, that the defendants
of Masters, report. which. is ordered to be
equally paid by by the parties j. and
upon the eleventh point of inquiry stands in
the words following:
III On all 1.-The the points Of inquiry generally,
as an irrevocable check and safeguard Tor tue
benefit and advantage of the holders of the
consolidated bonds. No d. BIT could be con
holders Of the tonds are entitled to precedence
in the collection OF taxes on lands and slaves
and to the suppression OF any demand f2r pay
fere with or prevent the payment of the CON
soltdated debt unless such subsequent debt was
contracted upon compliance with the terms and
conditions of the act of 1859, which In no in
stance has been done;" and
Whereas the 37th section of the said act OF
ssa speks IN se svs G
or other acts passed by said Council. after the
first day of January in each year, shall be null
ana void. unless the ordinance imposing the
consolidation loan tax shall have been
viously passed" Therefore.
RESOLVED. That the Central Executive Council
the attention of the consolidated bondholders.
under act Of 1859. to the facts following:
/. That all bonds now outstanding against
this city have been issued in contempt of the
37th section OF the contract of 1852, and that an
undisputed report to this effect stands upon the
records OF the q. s. Circuit Court for this dis
. That the premium bond plan. or so-ealled
eontract. has undertaken to set aside the con-
tract OF 1852 under which the city consolidated
ponds OF that year were issued.
8. That The city has funded into this said pre-
MUM bond plan. without contest or other OBJ
have been issued against this city, and on her
real estate "regar dess of the obligations
created BY the act of 1s52,' and that there are
lions more Of so-called debts. likewise created
in disregard Of these same obligations, which
are inseparabe from the act OF 1862.
L. That under the act of 1859. constituting
contract and under the acts of 1854 and Nos
los, lo9. and no. respectively, and which latter
We're submitted to q vote of the people of
this city and carried. every ordinance passed
or other act attempted by this CITY, Is made null
and void unless the ordinance imposing the
consolidation loan tax, shall have been pre-
viously passed"
8. That we consider 1t to be the bounden duty
of the consolidated bondholders, under the
violated contract of 1862, to enjoiA the premium
bod lottery drawing, which assumes to have
displaced and set aside the act of 1852 referred
to. and which proposes very shortly, out of
rev nue. derived rom real property and other
wise. to. retire bonds issued In fragrant viola
ton Of the 37th section of the said act of 1882
g. That the 37th section OF the act Of 1882 ito
consolidate the city of New Orleans and provide
for the government aud administration of its
a. That the Common Council shall annu-
ally, in the month of January, pass an ordi-
nance to raise the sum of $3.50 900 by a special
tax on real estate and slaves, to be called the
consolidated loan tax" etc.
3. That all ordinances. resolutions, etc,
shall be null and void. unless the ordinance
imposing the consolidation loan tax shall have
been previously passed"
C. Nor shall any loan be contracted unless
the same be authorized by vote of a mai ,rity
OF the qualified voters of said city, which shall
be taken In the manner prescribed by the City
Council after ten days proclamation by the
Mayor. in the newspaper chosen by The Com
mon Council; and no ordinance creating a
debt or loan shall be valid, unless for some sim
gle object or work distinctly specified therein,
aud unless such ordinance shall provide ways
and means for the punctual payment Of run