New Orleans Board of Liquidation v. Hart - 118 U.S. 136 (1886)
U.S. Supreme Court
New Orleans Board of Liquidation v. Hart, 118 U.S. 136 (1886)
New Orleans Board of Liquidation v. Hart
Submitted January 4, 1886
Decided April 19, 1886
118 U.S. 136
The provision in the Louisiana Constitution of 1879 that the general assembly of the state should enact appropriate legislation to liquidate the indebtedness of the City of New Orleans and apply its assets to the satisfaction thereof contemplated that provision should be made for the payment of the entire debt, whether bonded or floating, and was in harmony with the previously settled law of the state.
The holders of the floating debt of the City of New Orleans existing at the time of the passage of the Act of the Legislature of Louisiana of April 10, 1880, known as No. 133 of that year, who have established the validity of their claims by judicial proceedings, are protected by the provisions of the Constitution of Louisiana adopted in 1879 from being excluded from sharing
in the proceeds of the property and fund which by that act were in terms appropriated to purchase and retire the bonds of the city.
The legislation of the State of Louisiana respecting the indebtedness of the City of New Orleans reviewed.
This was a petition for a mandamus. The case is stated in the opinion of the Court.