The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-06-27
ORDINANCE No 10

ORDINANCE NJ. ~.
AN ORDINANCE PROVIDING FOR THE HOLDING or A
SPECIAL ELECTION AND SUBMISSION OF THE glrgs.
rioN or ISSUING BONDS UNDER THE ACT THEREIN
NAMED
WHgREAs Xfobetition of ten LEGAL voters resi-.
dent in the Cairo. Illinois hss been presented
TO said Council:
Firs-That said city has heretofore issued its
municipal bonds. which are binding. subsisting and
legal obligations of said city. and The same to an
amount fur in excess Of said cityr ability To DAY re-
main outstanding and unpaid all OF which raid out.
standing bonds can, as said petitioners believe be
purchased and retired at about ffty cents on the
dollar by the issuance and sale Of new bonds for
much less amount and drawing a lower rate OF In.
lerest than said outstanding bOnds, under and in
pursuance VI the act entitled IAN act TO amend an
act entitled An act relating to county and civ dcbs
and 10 provide for the payment thereof BY taxation
IN SUCH counties and cities, approved February 49,
POO and TO amend the title thereof" approved and
In force April q, 1877.
Sccond-That 10 the end aforesaid the said pc.
titoners believe that it IL the wish OF the majority
OF the legal voters Of said city that the proper cor.
poraie authorities Of sad city sha tissue new bonds
same outstanding to raile money to
Or reii.s; 81 ~ Of said bSaRasprsio 40
Of ofp the sesS G each SO bonds
bered i4l to $40 of the denomination OF $500 each;
30 bonds. numbered Al to $40, OF the denomination
Of tIOO each: and 30 bonds, numbered Hl 10 14O,
Of The denomination oi $50 each; making total
of 14O bond. OF the aggregate amount OF Sy1O.W,
being about 20 per centum of the sum total OF a.,
said outstanding bonds proposed to be retired All
of sad new bonds to bear date July ], 1873, and
draw interest at the rate OF six per centum per an.
mum rom date until paid-both principal and inter
est to be payable at the First National Bank Of New
York in the city and State of New York. in semi
annu,l instruments on the lst days OF January and
July Of each year after date Of said bonds and run
ming through period of 1874 years, AZ follows, to
wit. Viz: equal semi'annual instruments OF per
cent of the face of said bonds for and during the
hrst 4 years; ~ equal semiapnua instalmcnts of b
per cent of the face Of said bonds for and durldg
the next is years; and one final instalment OF the
remainder OF principal and interest of said bonps
at the END of said 49,. years-each and all OF SAID IN.
stament to be evidenced by coupons TO be attached
to said bonds and payable only upon presentation
and surrender of such coupons, and said bonds 10
be also surrendered and discharged upon payment
of said coupons for final instamcnt. The proceeds
of the sllc of which said two hundred and seventy
thousand dollars new bonds to be expended uuder
the direction Of the proper corporate authorities OF
said civ In 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 he
ordered for such purpose the question of issuing
| bonds under said act, in number and amount, and
with interest and OF the tenor and effect and for The
! purpose aforesaid in manner and form a. aforesaid
and as provided in and by the act aforesaid and
WHEREAs, Said Council isylesirous aud willing &c
| call said special election and submit said questions
| prayed In said petition; therefore
! Be Il ordained bA the city council of the city o
! Cairo:
SECTION I. That special election be held Of
| Thursday the Twenty. Seventh day of June. \. ID
1873. In the several wards in the City Of Cnlro-a
the Athcncum Building, IN the first ward; at III,
Rough and Ready Engine Building, In the sccont
ward: at the Hibcrnian Engine Building In III,
third ward. at the Court House in the fourth ward
| Fourth ward. and at the store house building o
| James Carroll, corner Commercial avenue ant
Twcnty.eighth street in the Fifth ward for the pur
nose aforesaid AT which said special election Their,
shall BE- submitted TO the legal voters Of said cit
| the question of issuing the said bords under IA,
act aforesaid In manner and form and for the pur
pose specified in the preamble TO this ordinance ant
! as therein set forth.
SECTION . That said special election shall b,
held md due notice thereof shall be given by IN,
CITY Clerk of said City and the ballots cast therca
shall read, in manner aud form as required by TIN
said Act approved and In force April u, 1877.
APPROVED: June ,, lsis. .
HENRY WINTER.
MAYOR CITY or CAIio
Attest
j. b. PlIII.LlS, CITY CLERK.