The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-02-06
A CARD.
CITY CONSOLIDATED BOND MATTER

Abstract from the decision rendered by Judge
Woods In the cause Of Rosalie Mnenhauk
and others VS.. the city Of New Orleans and
~ am Of opinion that the acb Of 1861, above
mentioned contains 1. contract raid and
binding on the city, and that the bondholders
arc entitled to exact the substantial perform
anes Of the contract, have %. held upon the
, vs the city 81 New orlsans Woeds ies
The thirty-ssventh section d the act Of 1862,
constituting, as it does n contract between the
city and the bondholders, stasrds unaffected
impair or repeal its provisions. But the rem
edy OF the conplainants TO enforce their con-
tract is clearly not in equity. but ,at law, By
the recovery OF q Judgment on their coupons
and bonds, and by the writ Of Inandarnus
Tux required by law. The relief at laav 10
plain, adequate and complets, and equity corr
| not be resorted to-"
ABSTRACT
from the decision rendered by Judge Billings
in the case Of Morris Ranger vs. the Mayor
and Common Council OF New Orleans, dated
" But among the statutes Of the State With
reference to the city Of New Orleans, and
among the general statutes OF the State, are
found acts TINT give the absence o. a;,ny PIT aar,
nance creating debt. q special Significance
1.-THE act Of 1859, No. 81, entitled An oct to
consolidate the city Of Men Orleans. ana pro-
sds Jgr The ,gs o7elz "ins ss ssso 81 paos
'''And no ordinance (of the city Of New Or
leans) creating O. debt or loan shall be valid
unless for some single object or work dis
ttnctly specified therein, and unless such Or
| the punctual payment. Of running interest
during the whole time for which said debt or
loan shall be contracted, and for the full and
punetual discharge ct maturity 81 the capitaA
| borrowed or the debt Incurred.
ABSTRACT
from the report Of Judge T. Wharton ColIens,
special master In chaneery," approved ~
Judge Woods.
xxi. On ali points OF inquiry generally,
report, ..o.ot =, ,ss. .w.a .asoo.a ~ =,
irrevocable check and safeguard for the bene-
| fit and advantage Of the holders OF the con-
solldated bonds. No debt could be contracted
except according to It's provisions The hold
| ers Of the bonds are entitled 70 precedence ID
| the collection Of taxes on lands and slaves,
and to the suppression OF any demand for
payment Of any subsequent debts that would
Interfere with or prevent the payment OF the
consolidated debt, unless such subsequent
debt was contracted upon compliance with
the terms and conditions OF the act OF 1851"
IN THE CASE OF MAENHAUr vs.. NEW oRLEANs,l
| before the United States Circuit Court for1
Louisiana, Judge Woods, In the written real
SONS assigned by him for Judgment, uses the
| following language:
I'm the argument upon the motion for In
junction it was claimed by counsel for the city
that the act Of 1859 was In violation OF tha
constitution Of 1916, which was In force wherz
that act was passed, and which declared larti
Gle 1877 that taxation shall be equal and uni
form throughout the State. The provision q
this act Of 1852, which Is deemed to contra
vene this constitutional requirement is this !
| THE rate per cent OF said tax In each munich
| paIity shall be In proportion to the indebted
ness Of each / cannot see any conflict ba
emit advised, do not think the objection 8
the law well founded"