The Cairo daily bulletin. (Cairo, Ill.) 1870-1872, 1871-08-02
ORDINANCE. NO. 1l9.

An ordinance 10 autnorIze the subscrlption of
$1,000 70 the Cairo and Nincennes Railroad
Company, and for other purposes.
Whereas, by an agreement entered into between
the Cairo and Nlncennes Railroad Company and
me sliy OF sslr9, ana spPro!sd by Me City Conn.
stock amounting to sluD 90 he issued by the Cairo
and Nncennes railroad company 20 the city for
the subscr ption Of that amount should be sold by
the city TO The said company, upon certain con-
ditions as expressed q "a d contract and
Whereas, II is understood that said company
are willing 20 extend the time for the issue u
said bonds and the commencement Of the pay
ment OF interest on the ZANE therefore
Be II ordained by the City Council Of the city
OF Cairo:
Section /. That the Mayor Of tho city be, and
he ~ hereby authorized and Instructed to sul.-
scribe on behSlfof the City Of Cairo 20 the capt
tai stock Of the Caro- and Nincennes railroad
company IN the sum Of one hundred thousand
dollars, sad subscription to be payable IN bond.
OF the city "a hereinafter provided for, that the
Mayor, city Clerk, and City Comptroller be, aud
they are hereby authorized aud instructed 10 have
prepared and to sign AMI seal bonds OF the city
TO the amount Of one hundred thousand dollars,
TO be issued 10 said railroad company, said tund-
10 be 10 such sums a. the said company may de.
sire 70 bear interest at the rate Of per cent per
annum. and 70 be payable tNenty year. after the
date thereof, with coupons attached for the pay.
ment Of the interest Hefnl.annally on the same
that the Mayor ~ hereby authorized and instruct
ed TO take charge Of said bonds when prepared,
signed sealed and ready for delivery, aud Is
authorized and instructedto deliver the sam" to
some responslble banking, loan or trust com
Itny, trustee or trustee located or residing IN
the city Of New YORK or elsewhere, ~ may be
agreed upon 10y HIM and said Railroad com pany,
sald bonds 90 be held by SAID banking loan OF
trust company, trustee or trustees, in
escrow and To tie delivered up 70 the said
Cairo and NIncennes railroad company,
when the SAID Caro- and Vincennes 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 he re.
m al Inv mr. lletODer .
road shall be finished by or before the FIRST day
OF August. is73, and provided also that the inter.
est accrung on said bonds previous to their
delivery to said railroad company, shall not inure
TO the benefit Of said railroad company, but the
coupons for all accrued interest shall be detached
from said bonds previous to their delivery to
said railroad Company and be returned to said
accrue to said railroad company before the time
when said company shall be entitled 20 receive
said bonds according TO the condition herein ex.
pressed.
Sec. 2. II shall be, and IL is hereby made the
duty o: the banking, loan, trust company or
trustees, which shall be chosen or selected to
hold such bonds, a. hereinbefore provided, to
deliver up the said bonds 10 said railroad corr.
pany upon the said companys issuing TO said
city, and delivering 10 said trustee one hundred
thousand (slOoO,oOol dollars Of paid up stock in
said railroad company, which said stock the said
trustee u hereby authorized and directed 10 sell
10 ssid railroad company for hye thousand dol
lars $3.50 Of Cairo city bonds 40 ms thereby to
carry out the provisions OF the agreement en-.
tered INTO November 18th. 1867, by and between
said city and said railroad company.
Approved July 22d, 1871.
JOHNM LANsDEN, Mayor.
Attest; NJ J. HOWLEY, Clerk,