The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1870-05-25
The Carml Railroad.

The following are the preamble and
passed at the Council, on
evening:
WHEREAS, An election by the quail
fled voters Of the city of Evansville,
was held on the 10th day of Novem-
Der, A. d. 1869, at the usual places of
holding elections, in pursuance of
legal notice, for the sole purpose of
voting upon a proposition to take
stock to the amount of three hundred
thousand dollars 1890, 000) of the Ev-
ansville, Carmi and Paducah Railroad
Company, to be paid for In seven Cd
per cent. bonds of the city of Evans
Vile at par, upon the terms and con-
ditions set forth in the minutes of the
Common Council at page 211 of the
proceedings of the 4th day of October,
1869 which reads az follows:
The bonds Of the city to be placed
in the hands of Messrs. Samuel Orr,
Charles Viele and Col. Chas. DENLY.
The bonds to be issued as follows:
One hundred thousand dollars on
the first day of January, 1870, paya-
bic twenty years after date.
One hundred thousand dollars on
the first day of July, 1870, payable
twenty five years after date.
And one hundred thousand dollars
on the first day of January. 1871,
payable thirty years after date.
The bonds to bear interest at the
rate of seven per cent. per annum.
Fifty thousand dollars of the bonds
to be delivered by Messrs. Orr, Viele
and DENLY to the railroad company
when the railroad company shall have
made such arrangements and shall
have secured such sums of money
from counties and towns along the
line as shall, In the opinion of the
Board ofDirectors ofthe railroad COM
pany, be sufficient, together with the
county appropriation of two hundred
and forty-two thousand dollars, and
this subscription from the city to
guarantee the completion Of the road
from Evansville to Carmi In Illinois
The balance of the bonds to be de.
livered to the railroad company in in.
stallments of fifty thousand dollars
when the Board of Directors shall
show Messrs. Orr, Viele and DENLY
that the proceeds of any former in,
stallment or installments have beer
expended in the building of the road
and if Messrs. Orr, Viele and DENLY
shall at any time be satisfied that the
Advancement Of q larger installmen
will be to the interest of the city. Of
will hasten the building or compile
ton of the road, they may make sucl
advancements as they deem advisa
Bile.
EVANSVILLE, Sept. I'D, 1859.
At regular meeting of the BoarC
of Directors of the Evansville, Carm
and Paducah Railroad Company, helC
at the above named place and date
the following resolution was adopted
on motion of DR.. Cloud:
RESOLVED, That the Board petition
the City Council to put to a vote o
the qualified voters of the city of Ev
ansville, the proposition for the cit.
to take three hundred thousand dol
lars in stock in the E, @. & P. r. r
Company, at the earliest practicable
period.
I, James T. Welborn, Secretary O
the Z. @. & p. r. r. Co., certify tina
the foregoing is a true copy of thu
resolution, as appears Of record OF
the minute book of the Company. II
testimony whereof / have set N!
hand aud seal, this 4th day of Octo
Der, 1869.
JAMES T. WELBoRN, Sec'y.
And whereas, at said election, helC
in pursuance of said resolution
eleven hundred and forty-one votes
were cast. Of which number ont
thousand and three 1,003) wer,
in favor of. aud one hundred anC
thirty eight (138) were against, being
majority of eight hundred anC
sixty five (965) votes in favor of sait
proposition to subscribe and tax
stock as aforesaid, as appears by tn
minutes of the Common Council o
the date Of December 18th, 1869. ant
at page 314.
Now, therefore, it Is ordered by th
Common Council Of the City of Ev
ansville, that upon the terms an
conditions herein before recited, an
upon their acceptance and ratification
By the President and Directors of tn
said Evansville, Carmi u Paduca
Railroad Company and the entry @
said agreement, together with the &C
ceptance and ratification of the term
and conditions aforesaid. upon tn
minutes of the Board of Directors c
said Railroad Company, that then an
tbereupon, the City of Evansvill
will subscribe for aud take three hun
dred thousand $500, 00O) dollars {
capital stock of the Evansville, Car
mi & Paducah Railroad Company, I
be paid for in the seven CD per cen
bonds of the city at par, one hundre
thousand having twenty years to ruI
one hundred thousand havin
twenty-five years to run; and or
hundred thousand having thirty yeal
to run, and all to be done With
strict conformity with the terms an
conditions hereinbefore enacted, an
not otherwise.
And it is further ordered by tt
, Common Council of the city of Evan
vile, that the Mayor be and he
hereby authorized and requested
make such subscription on the bool
of said Evansville, Carmi & Paduca
Railroad Company, appending therei
the terms and conditions above mel
toned; provided that this subscril
ton upon the terms aforesaid, sha
be accepted by said Railroad Comp
nv, within q time sufficient to enab
the Mayor to subscribe for said stoe
ten (10) days before the time fixed fl
the annual election Of Directors Fl
, the Company, so as to enable the Vi
Of Evansville to vote at said electlo
May %, 1870.