The Cairo daily bulletin., 1871-08-01

An ordinance to autnorize the subscription of
tlVc,vO 70 the Cairo and Vincennes Railroad
Company, and for other purposes.
whereas, by an agreement entered into between
the Caro- and Vincennes Railroad Com pany ana
cil November 2jth, 1857, II IL provided that the
stock amounting to 500 600 he issued by the CAIRO
and vineennes railroad company 70 the city for
the subscription Of that amount should be sold by
The city 70 the said company, upon certain con.
ditIons As expressed IN sad contract and
Whereas, IL is understood that said cornpany
are willing 70 extend the time for the is-tls of
said bonds and the commencement Of the pay
ment Of interest on the same therefore
Be Il ordained by the City Council Of the city
Of Cairo:
Section !. That the Mayor Of the city be, and
he ~ hereby authorized and instructed 20 sub
scribe on behalf Of the City Of Cairo 10 the cap-
company in the sum Of one hundred thousand
dollars, said subscription TO be payabl. IN bonds
oi the city a. hereinafter provided for; thst the
Mayor, city Clerk, and CITY Comptroller be, and
they are hereby authorized aud ins;ructed H. have
prepared and 70 sign and seal bonds OF the city
10 the amount Of one hundred thousand dollars
TO be issued 20 said railroad company sad bonds
10 be In such sums a. the said com pAny may de.
sire, 20 bear interest at the rate Of per cent per
annum, and 70 be payable tsebty years after the
date thereof with coupons attached for the pay.
ment Of toe interest ssmi-anusly on the SAM I;
that the Mayor Is hereby anthonred and instruct
ed to take charge Of said fond. when prepared,
slgred sealed and ready for delivery, and IL
| Authorized and Instructed to deliver the same TO
some responsible banking, loan or trust com.
psny, trustee or trustee located or residing in
the city Of New York or elsewhere, a. may Oe
agreed upon by him and said Railroad co m psny,
said bonds 20 he held by said banking loan or
trust company, trustee or trustees, in
escrow and 10 te delivered up to the said
Cairo and Nlncennes railroad company,
when the said Caro- and Vincennes railroad has
been constructed, that is TO say has been put in
good ordinary running order, from the city OF
Cairo Illinois, TO the city OF Vincennes, Ind ana
aud The cars shall have run thereon, AMI not be-
fore provided work on said road shall be re-
sumed by or befor. October LIST next, and said
road shall he finished by or before the first day
Of August ISIS, and proyldet also that the inter.
est accrulng on said bonds previous 10 their
delivery TO -ad railroad company. shall not inure
20 the benefit Of said railroad company, but the
coupons for all accrued interest shall be detached
sad railroad Company and be returned 10 said
city OF Cairo, 90 that interest shall not be paid
accrue 10 said railroad company before the time
when said company shall be entitled to receive
said bonds according 10 the condition herein ex.
ore ssed.
Sec. 2. II shall be, and IL is hereby made the
duty o. the banking, loan, trust company or
trustees, which shall be chosen or selected 10
hold such bonds, az hereinbefore provided, to
deliver up the said bonds 10 said railroad com
pany upon the said compauys issuing u said
city, and delivering to SAID trustee one hundred
thousand (slOyC ,OIcl dollars Of paid up stock in
said railroad company, which said stock the said
trustee IL hereby authorized and directed 10 sell
10 ssid railroad company for hye thousand dol
lars NjDJO) OF Cairo city bonds 81 as thereby to
carry out the provisions OF the agreement, en-.
said city and said railroad company.
Approved July 22d, 1871:
JOHN NJ. LANSDEN, Mayor.
Attest: J. HOWLEY, Clerk.