The Cairo daily bulletin. (Cairo, Ill.) 1870-1872, 1871-07-23
s ORDINANCE. NO. ll9.

An ordinance 10 authorize the subscriptions OF
100000 to the Cairo and vincennes Railroad
Company, and for oiher purposes.
Whereas, by an Agtee ne at entered into betw cen
the Caro and Vlncennes Railroad Company and
the city OF Cairo, ana approved by the ity Coun
stock amounting TO 500 10 be issued by the Cairo
and vincennes railroad company to the city for
the subscription Of that amount should be sold BY
ditions As expressed IN sad contract and -. +.
Where's, IL IL Understood that said com pany
ere willing to extend the time for the issue OF
said bouds and the commencement OF the pay
neut Of interest on the ssme, therefore
Be y ordained by the City Connch Of the eity
ssction I. 4hs, the Mayor Of the c,,v s.. and
he 10 hereby authorized and instructed to sut,-
scribe on behalf OF the City OF Cairo to the Capt.
tai stock Of the Cairo and Sineenpep railroad
company In the sum Of one hundred thousond
dollars. SAID spbscri pton to be pay able IN bond.
OF the city a. hereinafter provided for; that the
Mayor, City Clerk, and City Comptroller be, and
prepared and to sign and seal bonas OF the city
TO the amount Of one hundred thousand dollars,
TO be issued 10 said railroad company, said tond-
to 10 In such Gums As the said company may de
sire, to bear interest at the rate Of per per
annum, and TO be Tayable tsenty years after the
date thereof, with coupons attached for the paw
nient OF the interest sem annually on the same
that the Mayor IS ne,eiy authorized ana instruct.
ed 10 take charge 81 said bonds when prepared
signed sealed and ready for delivery, and Is
authorized and Instructed 10 deliver the same n
some resnonsible tankiug. loan or trust com.
psny, frI stes or trustee located or residing ia
the city oil .,ew York or elsewhere, a. msy be
agreed upon by him and said Railroad com pany y,
said bonds to he held by said banking loan OF
Trust company, trustee or trustees, in
escro ana 10 hs delivered up TO the said
when the said Cairo and vncennc. railroad has
been constructed, that is to say has been put o
good ordinary running order, from the city OF
Cairo, Illinois, to the city OF VlnceDne., indiana
and the cars shall hay run thereon, and not be
fore provided work on said road shall be re-.
Tumedb BY or before Octob-r 1si next, and said
roed shall be finished by or before taa first day
est sccruing on said bonds previous TO their
delivery to aid railroad company but the COO.
pons for all accrued interest shall be detached
from SAID bonds previous 70 their delivery "a
SAID railroad Company and b. rsturne 20 said
city OF Cairo, 30 that interest shall Not be paid OF
accrue to said railroad company before the time
when ssld company shall be entitled TO receive
said binds according 10 the condition herein ex
| PR ssed. .F...y t.rl -rsf ~. NJ, I---I--
Sec 2, 1t shall be, and it is hereby made the
duty o: this banking, loan, trust com pany or
trustees, which shall be chosen or selected To
hold such bonds, as here nbefors provided, TO
deliver up the said bonds TO said rail road cor,.
pany upon the said company's isslinv TO SAID
city, and delivering to said Trustee one hundred
thousand Sl0OO, 0O0) dollars of paid w stock N
said railroad company, which said stock the said
trustee Is hereby authorized aud directed 10 sell
TO ssid railroad company for hye thousand dol
carry out the provisions Of the sertehien u Zen.
tered into November 18th 1857, by and between
said city and said RAILROAD ompany, ~
Approved jury 22d, 1s7f y = - 40 -.-
JoHNM. LANspEN, Mayor. .
Attest: M. j. HOWLEY, Clerk.