The Cairo daily bulletin. (Cairo, Ill.) 1870-1872, 1870-04-23
COUNCIL PROCEEDINGS.


I.ohr. Lonergan, Mckee, Mendcl, Wal
der. Winters.
There being quorum present, and the
Board Of Aldermen ready for the trans
action of business, the Clerk presented
and read the following resolution.
WHEREAS By an act of the General
Assembly Of the State of Illinois, APP
proved March 9th, 1851, the city of Cairo
was authorized to subscribe for or purchase
shares of the capital stock of any railroad
company, created under the laws of the
State of Missouri, or Of the State of Ken
tueky, whose railroads shall terminate or
commence at any point or points in said
State or states. opposite to said city "f
Cairo; and, whereas, the Kentucky and
Tennessee railroad company, incorporated
by the State of Kentucky, propose to con
,truct n railroad from some point in the
State Of Kentucky, opposite to the city of
Cairo to point on the Mobile and Ohio
railroad therefore, be it
Resolved. That a special election be held
at the Office of Bryan Shannessy, corner of
Washington avenue and 18th street in the
said City of Cairo. not more than 35 days
after the passage of this resolution or the
approval thereof by the Mayor, to ascer-
tain the wishes Of the voters of said city,
as to a subscription or purchase by said city
of shares Of the capital stock Of the said
Kentucy and Tennessee Railroad Company.
to the amount Of 100000, and that at
said election all ballots cast in favor of
.ad subscription or purchase shall have
written or printed thereon the words "For
Subscription" and all ballots cast against
said subscription or purchase shall have
written or printed thereon the words
against Subscription subscription
or purchase to be paid for in bonds OF the
said city, 10 be issued in such sums rs said
Railroad Company may desire said bonds
TO be payable 20 years after the date there
Of and to bear interest ut the rate of eight
per cent. per annum, the interest to be paid
semi-annually 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,
to be mutually agreed upon
by the Mayor Of said city and
the President Of said Kentucky and Ten
nessce Railroad Company, when work
shall have been actually commenced upon
said Railroad, and TO be delivered to said
Railroad Company In the following
manner, viz: When FIVE miles Of said
road shall have been completed, the iron
laid and ready for the cars TO run thereon,
$4,000, of said bonds shall be delivered
to said Railroad Company and shares Of
it, stock TO the amount OF $50, 900 received
thercfrom, and upon the completion in
like manner Of every additional five miles
of said road, another $40, 900 Of said bonds
shall be delivered 90 said Railroad Com
pany, and a corresponding amount of it,
| q d.. I.1. Of
the said bonds, ifany, to be delivered and
stock 10 DO recoiycd. therefor, when the
whole road /. completed; said shares Of
stock so to be received by the city, 20 be
sold 10 and re-conveycd, n received, to
| said railroad company, Mt price not to e.
coed FIVE per cent. of the par value thereof,
NJ in the case Of tho Cairo and Vincenn.s
| railroad company; said subscriptions or
| purchase. md said sale by said city 10 10
upon the following conditions, viz: Said
| railroad company shall commence work
within six months from the date the sub
scrpton Is voted, and said RAILROAD shall
be completed within eighteen months
thereafter; said road 10 be carried over the
low grounds IN Kentucky, to the hills, on
trcstlc or some other open work, ~ ne To
keep open, in pcrpetuity, a water way "a
the width of the same now existing between
the river and the high grounds in Ken
,ucky; and said road, IL leased, shall be
leased 10 and operated in the interest of the
Mobile and Ohio railroad company, or
some other railroad company south Of the
Ohio river, terminating opposite said city
of Cairo.
Alderman Winter moved % amend the
resolution ~ follows;
Resoired, That the resolutions adopted
at the meeting Of the Select Council, April
18th, in regard TO calling an election in re-
gard 10 voting 10 the railroad subscription
named in said resolution, be amended 81
that the vote on same be taken az the
respective usual places of voting Ia
the four different wards Of the city
Carried.
The following resolution to-wit.
Resoiced, By the Board Of Aldermen
that the part Of the resolution adopted
by the Select Council, which says that in
tercst should be- paid in New York shall
be paid in Cairo, and further, that IL the
election be in favor of subscription IL shall
be- for stock Ia said X. r. and no donn'
ton,
was offered rs further amendment
and on motion the original resolution was
amended accordingly.
Alderman Winter, then moved that the
resolution bo adopted u, amended, The
ayes and nays were called upon the mo-
ton, with the following result, viz
Ayes-Kleb, Lohr, Lonergan, Men
del
Nays-Branklc, Mckee Walder and
Winters.
There being a tic vote the motion was
declared lost,
Alderman Lonergan then moved that
the resolution be adopted rs amended by
the resolution offered by Alderman Win
ter.
Carried by the following vote, viz
Ayes-Branklo, Lonergan, Mckee,
/ Walder and Winter. ft
Nays-Kleb Lohr and Mendei.
The following resolution, heretofore
adopted by the Select Council, was pre-
sented and read, and on motion adopted
by this Board by a unanimous vote
R,solred, ETC., That AN election be
ordered for Select Councilman for the city
Al large, TO i'll the vacancy occasioned by
:, AZ Councilman leo, ID