The Cairo daily bulletin. (Cairo, Ill.) 1870-1872, 1871-07-30
ORDINANCE. NO. 1l9.

An ordinance 10 anthorlLs the subscription OF
$1,000 to the Cairo and Vincennes Railroad
Company, and for other purposes.
Whereas, by 81 agreement entered INTO between
the Cairo and Nincennes Railroad Company and
the city OF Cairo, and approved by the City Coun-
rIl November 18th, lsG1, II n provided that the
stock amounting to sloc 900 lie issued by the Cairo
and Vincennes railroad company 10 the city for
the subscr ption Of that amount should be sold by
he civ 10 The said company, upon CERTAIN CON
ditions as expressed IN said contract and
Whereas, II j. understood that said company
are willing TO extend the time for the issue Of
said bonds and the commencement Of the pay
ment OF interest on the fame therefore
Be 1t ordained by the City Council OF the city
OF Cairo:
Section /. That the Mayor Of the city he, and
he l. hereby authorized and instructed TO sub
scribe on behalfof the city Of Cairo TO the capt
tai stock Of the Cairo and NincenDes railroad
company IN the sum Of one hundred thousand
dollars, SAID subscription 10 be payable IN bonds
Of the city as hereinafter provided for that the
they are hereby authorized aud instructed 10 have
prepared and TO sign and seal bonds OF the city
10 the amount Of one hundred thousand dollars
TO be- ISSUED to said railroad company, SAID bonds
to he in such sums as the said CONF any may de.
sire, to bear interest at the rate Of per cent per
annum, aud 10 be payable twenty years after the
date thereof, with coupons attached for the pay.
ment OF the interest seml-anually on the same
that the Mayor Is hereby authorized and instruct.
ed to take charge Of said bonds when prepared
signed sealed and ready for delivery, aud Is
authorized and instructed 10 deliver the same to
some responsible banking, loan or trust com
pany, trustee or trustees located or residing in
the city OF New York or elsewhere, as may be
agreed upon by him and said Railroad conn any,
sad bonds to he held by SAID banking loan or
trust company, trustee or trustees, in
escrow and 10 he delivered up. to the said
Cairo and Vincennes railroad company,
when the SAID Cairo and Vlncennes 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, Indiana,
and the cars shall have run thereon and not be.
fore provided work on said road shall be re-
sumed by or before October LIST next, and said
road shall be finished by or before the first day
Of August. 1873, and provided also that the inter-
est accruing on said bonds previous to their
delivery to said railroad company. shall not inure
coupons for all accrued interest shall be detached
from SAID bonds previous to their delivery to
SAID railroad Company and be returned to said
city Of Cairo, so that interest shall not be paid or
accrue TO said railroad company before the time
when said company shall be entitled TO receive
said bonds according to the condition herein ex
pressed.
Sec 2. II shall be- and it is hereby made the
duty o. the banking loan, trust company OF
trustees which shall be chosen selected T.
hold such bonds, as hereinbefore provided,
deliver up the said bonds to said railroad cor
pany upon tho said company's issuing to 80
city, and delivering to said trustee one hundr
thousand $1,000, 0OOl dollars Of paid up stock
said railroad company, which said stock thes
trustee is hereby authorized and directed 70
to ssid railroad company for hye thousand
lars $500 of Cairo city bonds 80 as thereo
carry out the provisions OF the agreement
tered INTO November 25th. 1857, by and betw
said city and said railroad company
"pP'' JOHNM. LANsDEN, Mayor.
Attest. M J.HoWLEY, Clerk.