The Cairo daily bulletin., 1871-08-01
ORDINANCES.
" ---------------------
ORDINANCE No 11n

An ordinance to authorize subscription ofsi00..
900 to the Cairo and 81. LOUIS Rail Road Conn
panv
Whereas by resolution Of the CITY Council Of
the city Of Cairo adopted on March 27, 1866, II
was ordered that nh election be held on Aprt 20,
1866 m the -eyorel wards Of the city for the pur.
lose o. asrcrtainiug the wishes OF the voters oi
thc cit, iCalro 10 regard toa subscription Of
slJU 900 to The capital stock OF the Cairo and Z.
Louis Rail Road Company and
Whereas, An election was held in pursuance II
| suchr solution aud the etnrns Of the same were
lad before the City Council at special noeiirg
| held on NAV 3rd, 1868, from which II appeared
that G73 votes we're east IN favor OF said sdGscrip
ton and A. aga ns 1t, and thereon the City Coun-
Gil declared said election carried IN favor OF sai
| subscription, and instructed the ordinance CON.
mlttee TO prepare and submit to said council the
| necessary ordinance to carry the result OF said
Whereas, a provisional contract has been en-.
| tered into between the said Cairo and ~. Lort
Reiiroad Company and Responsible contractors
for the construction OF said road, based upon the
subscriptions heretofore authorized to he made TO
| the capital stock OF said company by counties
clues .nd towns along the line OF SAID road
| therefore for the purpose OF giving effect to the
expressed wish OF the electors and tax. payers o.
The city, rs anove recited,
Se " ordained by the City Council Of the city oi
sEcrrox1 That the Mayor Of the city be. ard
ne hereby ~ authorize 4 and Instructed. to sub.
scribe on behalf OF the city Of Cairo to the capital
stock OF the Cairo and S. LOUIS Railroad Com.
oany. IN the sum OF one hundred tn lusand dollars
nroysaI dsu1Iserp'iqn 70 be payable as hereinafter
/
sued IN p'ymcnt OF ,ald subscriotlon 10 the
amount OF ninety five thousond dollar, in such
suns , as SAID company maydes sgnate, said onds to
oear interest at the rate OF eight Del cent her m
nun, and 10 be payable in twenty years from
cate thereof, and that the Mayor Of the clty CIV
tIerk and City Comptroller be- and they are bors'
~ AUTHORIZED and instructed TO sign and atiix the
seal OF .he city 10 the same, and 10 deliver the
same TO atrustec or trustees TO be apnointed hv
The Mayor ana City Council TO be held by sa,d
hustee or trustees in escro, and 10 be deliversJ
70 said Cairo and 81 Louis Railroad Company
upon the following conditions, viz that the track
oi said road shall enter Alexander county Al ts
northern limit, upon the line dividing IL Gnm
Union county and shall be carried upon the most
OF C.iro, and WV ''v
"fhat the work shall be commenced and pro...
ented from the city Of Cairo by the frat dsy ~
November 1871, and the road-bed shall be com
pieted TO The county line OF Union county by Tho
hrst day Of July is72, Provided however. ibsp the
bonds OF the city ofCsiro shall be paid 10 the said
Railroad Company on the completion of each Ave
miles OF the road bed commencing at Cairo. said
amount ~ 70 oe pad pro rata a. the amount done is
IN proportion TO the whole work 10 be done on the
road bed in said Alexander county, said smonnt
20 10 sscertained by survey and an estimate on
the cost OF the whole work IN said county,
PROVIDED, thst interest shall not begin 10 run
upon any Of the said bonds until the com pany
shall have become entitled TO receive the said
bonds and provided further that in no case sbalI
there be issued TO said railroad company greater
amount in the bonds Of the city than ffty pey
oen,uin OF the cost IA cash Of any i've mile Of
OF sara road bed, as shown by the certified
meas suremsnis OF the engineer Of said RAILROAD
until said railroad shall have been Committed
and that any surplus OF said bonds not delivered
under this provision shall be delivered 10 the
sra railroad company when the track thereof In
completed and the cars run thereon IRON Cairo
10 ST. Louis.
Approved July 22nd, ISL.
Attest; NJ. J. HowLEY, CITY CLERK.