The Cairo daily bulletin. (Cairo, Ill.) 1870-1872, 1870-04-16

shares of the capital stock of any railroad
company created under the laws of the
State of Missouri, or the State of Ken
lucky, whose railroads shall terminate or
commence at any point or points in said
state or States opposite to said city OF
Cairo, and
WHEREAS, the Kentucky Il Tennessee
railroad company, Incorporated by the
State Of Kentucky, propose to construct a
railroad from some point in the state Of
Kentucky opposite to the city of Cairo, TO
Il point ON the Mobile X Ohio railroad,
therefore lie it
Resolred Cthe Board of Aldermen con-
curing therein) That II special election be
held at the office of Bryan Shannessy cor
ncr of Washington avenue and 18th street
in the said city of Cairo, on some day to be
designated by the City Clerk, not more
than 80 days after the passage of this reso'
luton or approval thereof by the Mayor for
the city. to ascertain the wishes of the
voters of said city, as to n subscription oil
purchase by said city of shares Of the cap
| ital stock of the said Kentucky and Ten
nessec Railroad Company to the amount
of 100000, and that at said election all
| ballots cast in favor of said subscription
| or pur, hnsc, shall have written or printed
| thereon The words "for subscription, and
| all ballot, cast against said subscription or
| purchase, shall have written or printed
| thereon the words against subscription,
| said subscription or purchase to be paid
| for in bonds Of the said city, to be
| issued in such sums n said Railroad com
| pany may desire said bonds TO be payable
| twenty-five years after the date thereof,
| and TO bear interest at the rate of eight per
| ..,.. q. In mi
| scmi-annuallv in the city of New York,
said bonds TO be signed and sealed by the
| proper officers of the city, and placed in
| the hands of some Trustee or Trustees, 10
| be acknowledgement upon by the Mayor ofthe
| city and the President of said Kentucky n
| Tcnne.see'ralroad company, when work
.hall have been actually commenced upon
| said railroad and to bc delivered to said
| railroad company in the following manner,
| viz: When FIVE miles of said road shall
| completely Theron laid and ready for thecars
| To run thereon. $4,000 of said bonds shall
| be delivered t, said railroad company, and
| shares of il. stock TO the amount of so,
DO0 received thcrcfrom, and upon the
/ completion in like manner Of every adj
| l,ional five mile, Of said road, another
$4,000 of said bonds shall be delivered
| to said Railroad company and
a corresponding amount Of it, shares
| received ,hcrcfrom, the balance OF
| Il aid bonds, if any TO b. delivered and
stock 10 be received when the whole road
| j. completed. said shares Of stock 80 to be
sold 20. and rc-convcycd ne received, 20
said Railroad company. at price not 10
| exceed five per cent. Of the par value
| thereof n in the case Of the Cairo and
Ninccnue, Railroad company, said sub.
scrip,ons or purchase and said sale by said
city, TO be- upon the following conditions
| viz laid Railroad company shall commence
work within six months from the dat,
| the subscription j, voted, and said
Railroad shall bc completed
within eighteen months thereafter, said
road 90 Doe carried over the low grounds
| in Kentucky 10 the hills on tre-tlc or
some other open work so n to keep open
a water way in perpetuity 10 the width oi
the same. now existing between the river
and the high grounds in Kentucky, and
.aid road ii leased shall be leased 10 and
operate in the interest Of the Mobile and
Ohio Rail Road, or some other railroad
company south Of the Ohio river, termin-
atng opposite 20 said city of Cairo.
unanimously adopted.
| Adjourned until Thursday 18Th, inst, n,
Z. o'clock L. VI.
JNO. BROWN, City Clerk.