78 NEW YORK ZOOLOGICAL SOCIETY. 



and no work shall be performed upon the said land pursuant to the provi- 

 sions of this act until such plans have been presented to and approved by 

 the said commissioners, nor until specifications shall have been made to 

 carry out the same, in like manner approved by the said department of 

 public parks ; nor except in accordance with such plans and specifications 

 as so approved ; nor until the said zoological society shall have raised by 

 subscription or otherwise the sum of one hundred thousand dollars for the 

 prosecution of its work, and the same shall have been actually paid in to 

 said society or secured to the satisfaction of said commissioners of public 

 parks. 



Sec. 3. For the purpose of providing means for carrying into effect the 

 provisions of this act, it shall be the duty of the comptroller of the city of 

 New York, upon being thereunto authorized by the board of estimate and 

 apportionment of the city of New York, to issue and sell consolidated stock 

 of the city of New York at such rate of interest as may be fixed by the 

 comptroller of said city, not exceeding four per centum per annum, as said 

 board of estimate and apportionment may from time to time'' prescribe. 

 The said stock shall provide for the payment of the principal and interest 

 thereof in gold coin of the United States of America, and shall be free from 

 taxation and be redeemable within a period not exceeding forty years from 

 the date of its issue. The same shall not be sold for less than the par value 

 thereof, and the proceeds thereof shall be paid out and expended for the 

 purposes hereinabove indicated, and for which the same are issued, upon 

 vouchers certified by the department of public parks. The aggregate 

 amount of said stock to be issued under the provisions of this act shall not 

 exceed one hundred and twenty-five thousand dollars. 



Sec. 4. All acts or parts of acts inconsistent with the provisions hereof 

 are hereby repealed. 



Sec. 5. This act shall take effect immediately. 



