The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-06-12

~ ORDINANCE PROVIDING ToE THE noIDfNG OF \
SPECIAL ELECTION AND SUBMISSION or TiIE tU :.
'loN or Issuing BOND, UNDER THE ACT THEREIN
SAaEu
WHEREAS, The petition of ten legal voters resi-
den, N the City OF Caro-, Illinois ma been presented
10 the ty Couuc! OF the city Of Cairo representing
to laid Council;
F!rst-Ihat raid city has heretofore issued its
municipal bond, which are binding sub-stin. and
legal obligations of sad city, and the same. To IN
amount inr in excess OF laid citys ability pay
main outstanding aud unpaid all Of which -aid out.
standing bonGs can. NJ -aid petitioners believe be
purchased and retired al about ffIy cents on the
dollar by the Issuance and sale of new bonds for II
much lcs. amount and drawing a lower rate OF in.
tcrcst than said outstandin: bonds under and in
pursuance of the act entitled An act 10 amend an
act entitled An act relating to county and city debts
and 10 provide for the payment thereof by TAXATION
In such counties and cities. approved February 49,
l"'j and to amend the title thereof approved and
IN force April =, ls1I.
sccond-That TO the end aforesaid The said pc.
'ltloncrr believe that 1t l. the wish OF the majority
Of the legal voters OF -ad city that the proper cor
pOratc authorities Of laid city shall issue new bond-
under said act and sell the
ZANE outstanding to ralse money to
purchase or retire all Of said bonds-which new
bonds hall consist Of 40 bonds. numbered TO l4O
Of the denomination of 81 600 each ~ bonds mum.
bcrcd al TO $40, of the denomination of 800 each
30 bOHds, numbered Al to $40. of the denomination
of 800 each; and 40 bonds numbered al to 40
of the denomination of so each; making total
OF 40 bond OF the aggregate amount Of ago UD
being about 70 per ccntum of the sum total of all
-aid outstanding bonds proposed 10 be retired All
oi shid new bonds to bear date july J. 1873 and
draw interest at the rate Of Fix per ccntum per an.
mum from date until paid-both PRINCIPAL and inter.
est To be payable al the FRI National Bank of New
York, in the city and State of New Y6lk in semi
annual instruments, on the LET days of .Auunry md
July of each year after date of sad bonds. and run
ming through period of 49,, ycars, az follows 10
VII W. equal scniGnnual instslmcn,- of per
cent of the face OF laid bonds for and durinp ,hr
- oi la.
per cent of the face Of said bonds for and duridv
the next ID ycar- and one final instalmcpt o, the
remainder Of principal and interest of -aid bonps
nv the end Of laid lH ycars-eQch and all of .0id H.
ttalmcuts to be evidenced by coupons To he attached
10 .ad bond, and payable only upon presentation
ana surrender Of such coupons and said bonds In
be also surrendered and discharged upon payment
Of laid coupons for final instalmcut Tho prGrn.d.
of the ale of which laid two hundred and seventy
thousand dollars new bond. TO be extended uuJrr
the direction Of the proper corporate authorize. of
sad city IN the purchase or retiring OF each and ali
81 SAID outstanding bonds and for no other purpose
whatever 'i
Aud praying that said Council viii submit, 10 the
legal voters Of said city at special election 10 hr
pfHertd Tor 'uch purpose, the question OF Issuing
bonds under said act. IN number and amount and
with Interest and of the tenor and ecc, ana for The
purpose aforesaid. IN manner and form A. aforesaid
aud a. provided ~ and by the act aiorc,aid; and
WHEREAS said Council /. DESTROYS and willing to
call .aid special election aud submit laid question:.
prayed IN said petition: therefore
Be II ordained rs the cip council of the civ o
Cairo:
SECTION T. That u special election be held On
Ihuisday' the twenty seventh day OF June A. ID
lhs, ~ the several wards in the CITY of CuiI0-At
the Athcncum Building in the first ward; AZ the
Rough and Ready Engine Building. in the second
ward 1t the liiboman Engine Building in the
third ward NJ the Court House IN the fourth ward.
Fourth ward aud at the store house building Of
ialncs enroll corner Commercial avenue and
IWcniyHGhlh street IN the Fifth ward for the bur.
.,4I ..,,, ..i,t. l.
-hall BE- submitted 10 the legal voters of said civ
the question Of Issuing the sHid hurds under the
net aforesaid IN manner and form and for the pur
pose specified In the preamble to this ordinance and
~ therein set forth.
SECTION =. That said special election .haIl hc
held. aud due notice thereof shall be- given by the
CITY Clerk Of said CITY, and the ballots cast thcrrai
snail read, III manner and form n required hy the
said Act approved and IN force April e. 1871
APPROVED: June 5, 1875
HENRY WINTER
MAYOR Cry OF CArRo
ATTEST:
j. b. PIlllLlS. cry CLERK.