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Eight months later, through the Franco-Prussian War, Napoleon III was captured by the Germans, and the Empire was overthrown. In the autumn of 1867, the voucher program was ruled as official debt by the Court of Accounts, somewhat than because the “deferred payments” which Haussmann argued they have been. This made the voucher scheme illegal, because the City of Paris had not obtained the permission of the Legislative Assembly earlier than borrowing. The City was pressured to enter into renegotiations with the Crédit Foncier to convert the vouchers into regular debt. Two separate agreements have been made with the Crédit Foncier; the town agreed to repay 465 million francs in total over forty years and 39 years respectively.
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