The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-08-24
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ORDINANCES.
ORDINANCE NO. "a,

AN ORDINANCE PROVIDING FOR THE ISSUING CT s27O..
ub,W SEw BONDS To FUND AND RETIRE OuTsrAND-
1876 BONDS or THE CITY OF CAIl!o IL PURSUANCE OF
AN ELECTION HELD on THE 2,TH DAY or JUNE,
A, u. 1873
Whereas, under M act entitled Ian act to amend
an act entitled IAN act relating 10 county and city
debts and to provide for the payment thereof by
taxation in such counties aud citics approved Feb
ruary 10, 1865, and to amend the title thereof"
approved and in force April r, ls1, and In pur-u.
ance OF an ordinance entitled IAN ordinance pro-
Nding for the holding of n special election and sub
mission of the question oIissuing bonds under the
act therein named approved June 9Th, 1873, a
special election was held In -nid city OF Cairo on
the eth dny of June. 4. d discriminating 10 the
legal voters of said city the question Of issuing new
bonds n hereinafter provided: and whereas at such
election majority of the votes cast were for issuing
the bonds Il. IN said ordinance aud hereinafter also
specified. Now. Therefore in pursuance OF the said
act aud vote authorizing the issuing Of said bond-
Be II ordained by the city council Of the city OF
Cairo:
SECTION l. That under aud in pursuance of
act aud vote aforesaid, there shall be issued By said
city Two Hundred and seventy Thousand Dollars
of new bonds Which new bonds shall consist of
40 bonds, numbered to 40, of the denomination
Of slDr each; 30 bonds numbered lii to 3A Of the
denomination of 500 each 30 bonus numbered 81
to 80, of the denomination of nUl each: and -
bonds numbered 81 10 40, of the denomination of
SO each, making a total Of 10 bonds, of the agsrc
gate amount OF Sg,OUJJ, being about ~ per Centum
Of the sum total of all the outstanding bonds pro-
posed to be retired. All Of said new bonds to bear
date of july ISIS aud draw interest at the rate of
six per Ccutum per nnnum from date until paid
both principal and interest to be payable at the
First National Bank OF New York in the City aud
State Of New York, in -cmi.annual insallment-, on
the lst days OF January and July Of each year after
date of such bOnd-. ana running through a period
OF IVA years. II. follow, to Wit Eight equal semi
annual insalmentS of per cent OF the face Of said
bOLds for and during the lir-t four years. ~ equal
semannual in-tallments OF per cent of the face OF
aid bond for and during the next II wears and one
final nstallmcnt of the remainder Of principal and
interest Of said bonds NJ the end Of said 1874, wears.
each and all Of said installment- to be evidenced
by coupons to be attached 10 laid bonds and pay.
able only upon presentation ana surrender of such
coupons and said bonds 10 he also surrendered and
discharged upon payment Of said coupons for final
instalimcnts,
SEC. = The said bonds in said first section
authorized shall he prepared by and printed under
the direction of the finance committee Of the city of
Cairo shall then be signed by the mayor and cOun
iersigncd BY the clerk Of said city and the seal of
said city affixed thereto and delivered over 10 said
finance committee.
SEC g. Said finance committee shall receive and
take charge OF said bonds 50 signed, executed and
delivered u, aforesaid, and place the same for rafr
Keeping ana for the purposes for which issued with
some responsible banking house or trust company
within the state of Illinois, with full power and an.
,hOrity Ou-c and deliver said bonds ~ shall from
time To time be ordered by said finance committee,
for the purposes specified In -nid ordinance and
vote aforesaid, 10 wit the sale thereof To raise
money to purchase or retire any or all legal outsand
ingbOnd- OF -aidcity, or incfcctng exchange or
funding of such outstanding bonds,
SIC. Said new bonds, nor any OF them, nor the
proceeds thereof shall not he sold or used for any
purpose whatsoever other than for the purchase or
retiring Of or In exchange for the legal outstanding
bonds of -ald city a. aforesaid.
Approved August Goth, 1873
HENRY WINTER, Mayor City OF Cairo
j. H. PILLS. CITY Clerk