The Cairo daily bulletin. (Cairo, Ill.) 1870-1872, 1871-07-29
ORDINANCE. NO. 1l9,

AZ ordnance to authorize the subscription OF
$1,000 10 the Cairo and vincennes Railroad
Company, and for other purposes.
Whereas, by an agreement entered into betSeen
the Cairo and Vincsnnss Railroad Company and
the city OF Cairo, and approved by the City Coun.
stock amounting to 500 100 he issued by the Cairo
and Vincennes railroad company 10 the city for
the subscription Of that amount SHOULD be sold by
the city 10 the said company, upon certain con-
ditions "a expressed IN said contract and
" IercAs, il /. understood that said company
are wiling to extend the time for the issue Of
ment OF interest on the sane therefore
BE It ordained by the City Council Of the city
Of Cairo:
section /. That the Mayor Of the city be, and
he IA. hereby authorized and instructed to sub
scribe on behalf Of the City Of Cairo 70 the CAPT.
tai stock Of The Care aud ylneennes railroad
company In the sum Of one hundred thousand
dollars, SAID subscription 20 be payable IN bonds
Of the city "a hereinafter provided for; that the
Mayor. City Clerk, and City Comptroller be, and
they are hereby author Zed aud instructed 10 have
prepared and TO sign and seal bonds OF the city
to the amount Of one hundred thousand dollars,
TO he issued 10 said railroad company, SAID bonds
10 lie 10 such sums a. the said company may de-
sire, to bear into est at the rate Of per cent per
snnuin, and 70 be payable tSenty years after tho
date thereof, vita coupons attached for the pay.
ment OF the interest semi.anually on the same
that the Mayor - hereby author, zed and instruct,
od TO take charge OF sald bonds when prepared,
signed sealed and ready for delivery, and IL
authorized and Instructed to deliver the same TO
some responsible banking, loan or trust com
pany tIu stec OF trustees located or residing IN
inc city OF New York or elsewhere. as may be
agreed upon by him and said Railroad company,
said bonds to be held by said banking loan or
trust company, trustee or trustees, In
escrow and 10 lie delivered up. TO the said
Cairo and Nlncennos railroad company,
when the sad Cairo and Vincennes railroad has
been constructed, that 10 10 say has been put in
good ordinary running order, from the city OF
Cairo, Illinois, TO the city OF Nincennes, Indiana.
aud The cars shall have run thereon, and not be-
fore provided, work on said road shall be
sumedoy or bafore October lst next, and said
road shall be finished by or before tne first day
Of August ls13 and provided also that the inter
est accruing Oh SAID bonds previous to their
delivery to -aid railroad company, shall not lnure
10 the benefit Of said railroad company, but the
coupons for all accrued interest shall be detached
SAID railroad Company and be returned TO SAID
city Of Caro-, that interest shall not be paid or
| accrue 10 said railroad company before the time
when said company shall be entitled 70 receive
| said bonds according TO the Condition herein e1'
pressed. -.
Fec. 2. Il shall be, and 1t Ia hereby made tho
duty o. the banking, loan, trust company or
| trustees, which shall be chosen or selected TO
hold such bonds, as herenbeiore provided, 10
deliver up the said bonds to said railroad com.
pany upon the said company issuing To said
city, and delivering to raid trustee one hundred
thousand (siODD, COZ dollars Of pad up stock IN
said railroad company which said stock the said
trustee il hereby authorized and directed 70 sell
to ssid railroad company for hye thousand dol
carry out The provisions Of the agreement en-.
tered into November 9th lsG7, by and between
said city and said railroad company.
"pp''''' JohNM. LANsDEN, Mayor.
Attest; NJ. J. HoWLEY, Clerk.