The Cairo daily bulletin. (Cairo, Ill.) 1870-1872, 1871-08-03
ORDINANCES,
ORDINANCE NO 100

An ordinance 70 authorizes subscription ofslCO-
900 to the Cairo aud 81. Louis Rail Road Com.
Whereas, by resolution Of the CITY Council of
the city Of Cairo, adopted on March n, 1906, II
was ordered that at election bo held on Apr 30,
isGG IN tho several wards Of the city for the pur.
lose OF ascertoining the wishes Of the voters al
he CITY OF Cairo IN regard to subsci iption OF
slOO 900 to the capital stock OF the Cairo aud -.
Iouis Rail Road Company, and
Whereas, an election was held IN pursuance Of
+ such resolution and the returns OF the same were
laid before the City Council alta special meeting
held on MAY 3rd 1906 from which u sppeaiai
that G7J votes cast IN favor oil said subscrp-
ton and ~ against 1t, and thereon me cry Coun,
ell declared said election carried in favor OF said
subscription and instructed the ordinance com.
| mIttee to prepare and submit to said council tle
necessary ordinance TO carry the result OF sa'u
Whereas, a provisional contract has been en-.
tered into between the said Cairo ana ~. Louis
ltsiroad Company anu responsible contractors
for the construction OF said road based upon the
subscriptions heretofore authorized to be made TO
the capital stock of said company by counties,
cities snd towns along the line Of said road
therefore for the purpose o. giving effect to the
expressed wish or the electors and tar. payers o,
me city, rs anovc recited,
Be Il ordained by the CITY Council Of the city Of
Cairo
sEerosi. That the Mayor of the city be. ard
he hereby IN authorize 4 and instructed, to sub
scribe on behalf OF the city Of Cairo to the capital
| stock of the Cairo and ST. Louis Railroad Com.
pany. in the sum OF one hundred tn ousand dollars
sald subscription 70 be payable as hereinafter
provided Tor that bonds ofthe city shall he IL.
| sued in payment Of SAID subscription TO the
amount OF ninety .hye thousond dollars, In such
sums Ms said company maydesig ate said tonds 10
bear interest at the rate of eight per cent per an
| mum, and TO be payable in twenty years from
date thereof and that the Mayor Of the city civ
Clerk and CITY Comptroller be, and they are here.
ny authorized and instructed to sign and afii The
| seal OF the city to the same, and TO deliver the
| same to n trustee or trustees 10 be appointed by
| the Mayor ana CITY Council TO be held by SAID
Trustee or trustees IN escro, aud TO be delivered
| to said Cairo and st. Louis Railroad Compan,
upon the following conditions, viz that the track
| OF said road shall enter Alexander county Of It's
| northern limit, upon the line dividing II fom
| Union county and shall be carried upon the most
eligible route 10 the leyees surrounding the city
| OF Cairo, and
"That the work shall be commenced and pros, i.
| tuted from the city of Cairo by the first day OF
| November 1871, and the road-bsd shall be com
first day ofJulv 1872, Provided however that the
bonds Of the city ofCaro shall he paid 10 the said
| Railroad Company on the completion Of each FIVE
miles OF the road. bed commencin ing at Cairo. said
amount TO be paid pro rata a. the amount done is
In proportion To the whole work 10 be done on IN
| road bed in said Alexander county, said amount
| TO he ascertaned by asnrvey and an estimate OF
| the cost Of the whole work in said county"
| Provided, that interest shall not begin to run
| upon any of the said bonds until the COMPANY
| shall have become entitled to receive the said
bonds and provided furtf er that In no case shalI
there be issued 10 said railroad COMPANY greater
| amount in the bonds OF the city than ffty per
eentum OF the cost IA cash Of any FIVE nifes Of
| OF said road bed, as shown by the certified
| measurements OF the engineer OF said railroad
| until said railroad shall have been completed
and that any surplus OF said bonds not Delivered
under this provision shall be delivered to the
| srid railroad company when the track thereof In
| completed and the cars run thereon IRON Cairo
| 10 st. Louis.
| JOHN N. LANsbEN, Mayor.
| Attest; N. J. HoWLEY, City CLERK,