The Cairo daily bulletin. (Cairo, Ill.) 1870-1872, 1871-07-28
ORDINANCE. NO. 119.

An ordinance TO authorize the subscription Of
$1,000 to the Cairo and vincennes Railroad
Company, and for other purposes.
Whereas, by an agreement entered into between
the Cairo and Vincennes RAILROAD Company and
the cry OF Cairo, and approx by the City coun.
stock amounting to slOo, 100 he issued by the Cairo
and vincennes railroad company 10 the city for
the subscription Of that amount should be sold by
ditons as ex pressed IN said contract and
Whereas, IL IL understood that said company
are willing 70 extend the time for tho issue 81
said bonds and the commencement OF the pay
ment OF interest on the same therefore
Be It ordained by the City Council Of the city
OF Cairo:
Section |. That the Mayor Of the city be, and
he Is hereby authorized aud Instructed TO sub
scribe behalf Of the City OF Cairo 20 the capi-
company In the sum Of one hundred thousand
dollars, SAID subscription TO be payable 10 bonds
Of the city az hereinafter provided for that the
Mayor, City Clerk, and Cry Comptroller be, And
they are hereby author med aud instructed to have
prepafed and to sign and seal bonds OF the city
10 the amount Of one hundred thousand dolars,
to te ISSUED to said railroad company, sad bonds
10 be IN such sums a. the said company may de.
sire 10 bear interest at the rate Of per cent per
aunum, and 70 be payable tSeniy year. AFTER the
date thereof, with coupons attached for the pay.
ment OF the interest semi annually on the same;
that the Mayor II hereby author zed and instruct
cd 10 take charge Of said bonds when prepared
signed sealed and ready for delivery. and IL
authorized and Instructedto deliver the same TO
some responsible banking, loan or trust com
pany, trltpe OF trustees VI rtslunB H
the city OF New York OF elsewhere, as may lie
agreed upon by him and said Railroad company,
said bonds 20 be held by SAID banking loan or
trust company, trustee or trustees, Ia
escrow and 10 lie delivered up, TO the said
Cairo and Nincennos railroad company,
when the SAID Cairo and Vincennes railroad bas
been constructed, that 10 to say has been putin
good ordinary running order, rom the city Of
Cairo Illinois, to the city OF Nincennes, Indiana.
and the cars shall have run thereon, aud not be-
fore provided, work on said road shall be re-
I sumed by or before october LIST next, and said
road shall be finished by or before tae first day
Of August ISIS, and pSoyidef also that the inter
| est accruing on said bonds previous TO their
delivery to said railroad company. shall not inure
| 10 the benefit of said railroad company, but the
coupons for all accrued interest shall he detached
| from SAID bonds previous to their delivery to
| said railroad Company and be returned TO said
CITY OF Caro- 10 thatSnterest 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 or
| hold such bonds, as hsreinbefore provided, to
| deliver up the said bonds to said railroad com.
pany upon the said companys issuing TO sald
| eli VI and delivering to aid trustee one hundred
tho1 sand $1,000 900 dollars OF paid up stock IN
sai railroad company, which said stock the sara
trustee is hereby authorized and directed TO sell
| 10 ssid railroad company for hye thousand dol
carry out the provisions OF the agreement en-
tered into November 18th. 1857, by and between
/ Aaid city and said railroad company.
"pp'' JOHN II. LANsDEN, Mayor.
| Attest; NJ. J. HoWLEY, Clerk.