The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-06-13

further reduction Of outstanding interest
bearing city ordcrs,p reported, recommend
ing that sufficient .unds be ansterrcd
from the general fund TO the interest bear
ing city order frrd to pay of all of said
outstanding warrants, except W order No.
IS b., and the treasurer st,lcted to pay
off all of said orders, less 5 per cent OF
principal, TO he deducted in consideration
of advance payment, and that the treasurer
be instructed to replace u said general
frrd any funds hereafter paid into the city
treasury from taxes collected for the pay
ment of said outstanding interest bear Y
city warrants, above provided to be paid
Alderman Thstlcwood moved that the
report be received and the recommends
tons concured in.
The motion prevailed by the following
vote:
Aycs-Halliday, O'Callahan, Poticr,
Rittcnhousc Thistlewood, and wright.
Nays None.
The Ordinance Committee under rcsou-
tiou adopted June 4, 1873, reported the
follow ne ordinance, which was read first
time and laid over under the rules
ORDINANCE NO. 49,.
An ORDINANCE PROVIDING ron THE EXTENSION oY
IT. CHARLES STREET AND FOR THE LAYING or RAIL-
ROAD TRACKS THEREON,
b. it ordained by the City Council Of the city Of
Cairo:
SECTION /. That ST. Charles street be and the
same i hereby extended .Niy 900 feet wide west
wardiy across that piece OF land known n the "lI
feet strip 10 the southcastery end OF Commercial
avenue, the northcrly boundary line of said extend
ed street Ia be on line drawn from the southwest,
erlv corner Of lot numbered nine 90, in the Hotel
addition 10 the city Of Cairo Illinois 10 the south
easterly end of block numbered seventeen 90, IN
-ad city OF Cairo the portion oil SAID lo cet strip
covered hy said extended street being now owned
SIC. !. That the right is hereby reserved and
granted to the Cairo and Nincenncs Railroad com.
panv Ia Law down and OPT rate across said extended
street such railroad track or tracks as will enable
said railroad company 10 properly and conveniently
connect and use the local depot ground and build
in.s Of said company. either side Of said extend
ed street provided that any track tracks laid
on said extended street shall be plankrd by said
railroad COMPANY IN the same manner a. is prOvid.
ed in the city ordinances of this city for the plank
ing of railroad tracks Ut the intersection Of streets
MISCELLANEOUS BUSINESS.
The following communication from the
Cairo Tax Payers Association was read by
the clerk:
To the Honorable Mayor and City Council of Cairo:
GENTLEMEN AT meeting of the Cairo
Tax Payers Association, held in their hall
on Friday evening, June eth instant the
following resolution was adopted unani-
mously, to-wit:
Resolved. That the authorities of the
city of Cairo and county Of Alexander, be
requested to give assurance that they will
cooperate with this association in employ
ing every legal means of contest and de
fence in resisting the payment of either
principal or interest OF any bond or bonds
of the city or county, not in and covered by
the funding arrangement which the voters
of the city of Cairo are asked to pass upon
at the election to be held for that purpose
on the eth day of June. 1878; and to give
further assurance that they will provide the
funds TO pay all reasonable expenses that
shall be incurred in said defense and con-
test"
A true copy from the minutes of the pro-
ceedings. NJ. B. HARRElI, Secretary.
CAIRO, H., June s 1878.
On motion of Alderman Halliday, the
communication was received and ordered
filed.
Alderman Halliday introduced the fo.-
lowing preamble and resolutions:
Whereas, Negotiations are in progress
looking to the adjustment Of the Bonded in
dcbtcdncss Of the city, by an issue of new
bonds to the amount of fifty 900 per
cent Of the aggregate of the principal and
overdue and unpaid interest of the present
outstanding bonds, said new bonds TO bear
interest at the rate Of six 90 per cent per
annumn, and to be payable in full in
twenty 2O) years, the interest above on
said new bonds to be payable for four
years and such per centagc Of principal to
be paid thereafter scmi-arnualy in adj
dition as will pay the principal and interest
in full within the specified time, and
WHEREAS, In the opinion Of the council,
II would DE an lmpOssiplllty Tor the CITY
to pay the principal and interest Of the out
standing bonds. according to their terms,
and that a compliance with the Agreements
OF the new bonds would b as much as tax
payers could respond to; therefore,
Resolved, That arrangements proposed
by the Funding Association Of the United
States, above alluded to and set out more
fully ina report lately published by the
taxpayers association Of the city and
county, should in the opinion Of This coun-
ell be adopted and that voters be recon-
mendcd to cast their votes in favor Of it at
the election to be held on June 2,th, in
slant.
Resolved, That if said adjustment of the
bonded Indebtedness Of the city is author
lied by Il vote Of the people on 9Th inst,
that this council will use every cxcrtion to
carry it out in good faith, and will also
adopt every proper measure to prevent the
payment Of any portion of the principal
or interest Of the bonded Indebtedness of
the city except as required by the terms of