The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-06-20
ORDINANCE No 10.

AN ORDINANCE PROVIDING PoR TIE HOLDING OF A
SPECIAL ELECTION AND SUBMISSION or THE CUES.
TloS or ISSUING BONDS UNDER THE ACT THEREIN
NAMED
WHEREAS, The petition Of ten legal voters resi-.
dent In the city OF Caro- Illinois been presented
10 the CITY Council Of the city Of Cairo, representing
10 said Council
First-That said city has heretofore issued IT,
inuncipa. bonds which are binding, sub.istipg and
legal Obligations OF laid city, and the same 10 al
amount far IN excess Of said ctys ability TO pay re-
main outstanding and unpaid: all OF which said out
standing bonds can as said petitioners believe. be
purchased and retired at about any cents on the
0olisT oy The Issuance and sale Of new bonds for
much lese amount and drawing lower rate NJ in
terest than 'aid outstanding bonds, under and in
pursuspCe OF the act entitled An act 10 amend an
set entitled An sct relating 10 county and city debts
and 10 provide for the payment thereof by taxation
In sueh COUNTIES and cities approved February 49,
lso5 and TO amend the tiile thereof, approved and
in force April r. 1877.
Second-That 10 the end aforesaid the said ne.
titioners believe thai II y the wish of the majority
OF the legal voters Of ssd city that the proper cor
porae Authorities OF said city shall Issue new bond.
unGtr SAID act and sell the
same outstanding 10 raise money to
bonds shall consist o! 40 bonds, Numbered TO 40
Of the denomination OF 81 60 each 30 bonds mum.
oered al 20 30, OF the denomination of $50 each
200 bonds, mbered 34l TO so OF the denomination
OF 500 each and 80 bonds, numbered 81 to 40
| OF the denomination OF $50 each: making tota
OF 40 bonds OF the aggregate amount OF S270 600
! being about 20 per centum OF the rum total of al
sald outstanding bonds proposed 10 be retired. Al
! Of said new bonds to bear date July l., ISIS, apC
draw interest az the rate Of six per cenurn per an
| mum from date until psid-boih principal and inter
eel 10 DC payable al the Fret National Bank of New
York, in the city and State Of New York, in semi.
annual instslmens, on the 1T days of January and
July OF each year amer date Of said bonds and run
hins through period of 1917 years as follows, to
VII, VIZ: equal semi'annual instruments of 3 Der
cent. of the face OF said bonds for and during The
hrst years; 30 equal semiahnual instruments Of 5
per cent. o! the face Of said bonds for and durdp
the next Is years; and one final instameut of tho
remainder Of principal and interest of said boups
az thc emu oil said ~. yearseaCh and all Of said In.
taimen,s to be evidenced by coupons 10 be attached
Ia SAID bonds and payable only upon presentation
and surrender Of such coupons. and said bonds Ia
be also surrendered and discharged upon payment
Of said coupons for AuSl instalmcnt. The proceeds
OF the sale OF which said two hundred and seventy
thousand GollaT. new bonds to be expended under
the direction OF the proper corporate authorities of
said city IL the purchase or retiring of each and all
OF said outstanding bonds; and for no other purpose
whatever,
And praying that said Council will submit TO the
legal voters Of said city At special election to b.,
ordered Tor snch purpose, the question OF issuing
bQnds under said act, in number and amount, and
wiih interest and Of the tenor and eject and for the
purpose aOry-aid IN manner and form aforesaid.
ana as provided In aud by the act aforesaid. and
WHEREAS, Said Council Is DESTROYS and willing TO
eau said special election and submit said questions
prayed 10 said petition. therefore
BE II ordained bi the city council of the city o
Cairo:
SECTION l. That special election be held on
thursday, the Twenty seventh day Of June A. D.
ls1s, IN the several wards IN the CITY of Cairo-at
The A,hcnenm Building IN the first ward; at the
Rough and Ready Engine Building, In the second
ward az the Hiheruian Engine Building In The
third ward; at the Cour House, In the fourth ward
Fourth ward: and at the store house building of
James Carroll corner Commercial avenue and
twenty eighth street, In the Fifth ward for the pur
pose Aforesaid at which -aid special election there
shan BE- submitted 10 the legal voters of said city
the question OF issuing the said bonds under the
act aforesaid IN manner and form and for the pur
pose specified In the preamble 10 this ordinance and
~ therein set forth,
SECTION 2 That said special election shall he
held and due notice thereof -hal be given by the
CITY tlcrk Of said City, and the ballots cast thcrcat
shall read, IN manner and form a. required by the
seid Act approved and IN force April e, 1871,
APPROVED. June . ISIS,
HENRY WINTER.
MAYOR CRY or CAIRO.
ATTEST:
j, b. PILLS, CRY CLERK,