SECOND ANNUAL REPORT. 145 
and no work shali 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. Forthe 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. 
Skc. 4. All acts or parts of acts inconsistent with the provisions hereof 
are hereby repealed. 
SkEc. 5. This act shall take effect immediately. 
