The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-06-07
ORDINANCE 10. 70.

~ oRpISASCE PROVIDING FoR TIE HoLpiSG or \
SPECIAL ELECTION AID SUBMISSION or THE 20 :.
TloS or ISSUING BONDS UNDER THE ACT THEKrIN
NAMED.
WHEKEAs. The petition of ten legal voters resi-.
dcut In the city Of Caro-, llinui. hus been presented
10 the City Council of the city Of Cairo representing
TO suid Council:
firt-That -Uid city has heretofore issued H..
municipal bond. which are binding, ,ibsiriiu. and
legal obligations of said city, aud the same Ia an
amount far in excess ui said city, ability to pay.
main outstanding and unpaid; all of which .nd out.
standing bonds can a. laid petitioners believe, hc
purchased aud retired at about hiiy cents on the
dollar Ivy the issuance aud sHlc of new bonds for
much lcrt amount and drawing Il lower rate oi IN.
tcrest than said outstanding honds. under and IN
pursuance of the act entitled An act 10 amend AL
act entitled An act relating TO county and city debit.
and to provide for the payment thereof by TAXATION
IN such counties ANA citlcs approved February Is,
s,j. and Ia amend the title thereof approved and
in force April e, 1871.
SccOud-Thai to the end aforesaid, the suid pc.
toncrs believe that it /. the wish of the majority
OF the legal voters of aid city that the proper cor
pOratc authorities OF -ad city shall tissue new bond.
under uamc on, ,aid act and r , ,Gi the
purchase or retire all of laid bonds-which new
bonds shall con-i.t Of ~ bonds, numbered to 40
Of the denomination of Sl.VD each ~ bonds, mum.
bcrcd ~ to 40 of the denomination of $50 each:
IN bonds numbered al to 80 OF the denomination
OF SlDO each: and ~ bond-. numbered 81 To 40
Of the determination of $50 each making total
| W 40 bond. of the aggregate amount OF S21OUu.
being about ~ per Ccntun of the rum total of all
sAld outstanding bonds proposed to he rctr,d Al
of laid new bonds to bear date july /, lsTs, and
draw interest at the rate oi siN per Ccnun per an.
mum from date until paid-both principal aud inter.
TO be- payable at the First National Bank of New
York in The city and State of New York. in semi
annual in.talmcnls on the 1t days of January and
july of each year after date of -aid bUuds, and run
ming through period OF ~, wears. ~ follows to
Wit viz: equal scmiunnual instalmcnt. of per
cent. of the face of said bonds for and durin. the
frst vcar- ~ equal scmi.apnual insralmcnt- of ,
nor, NJ pt he "A a DIS tpr
the nest - YEAR: and one tnal nsGlmcnt OF the
remainder of principal and interest of said honp.
NJ the end of -AdlHG ycars-cach and Ill OF sHid in
-tHlmCnt- to be evidenced by coupons to he attached
to said bond. aud payable only upon presentation
aud surrender ui such coupons and said bonds 10
be also surrendered and discharged upon payment
Of said coupons for final inrtamcmt. The proceeds
oi the sale of which said tNO hundred aud seventy
thousand dollars new bonds 10 he expended under
the direction Of the proper corporate authorities OF
said city In the purchase or retiring ri each and all
oi said outstanding bonds aud for no other purpose
whatever.
And PRAYING That said Council will .dhmit 10 the
legal voters of said city Al special election 10 be
ordered for such purpose. the question of is,uinr
bonds under said act. in number aud amount uuG
with Interest and OF the tenor and effect aud for the
purpose aforesaid IN manner ana form ~ aior, said.
and n provided in and by the act Aforesaid. and
WHEREAS, Said Council j. dcsiruus aud willing Ia
call said special election aud submit said questions,
sprayed in said petition; therefore T.
Re !, ordained hi the city council of the city q
Cairo:
SECTION !. That a special election he held on
Thursday. the Twenty Seventh day of June y. u.
1879. in the several wards In the City Of Cairo-ut
the Athcncum Building, in the fir>t ward; at the
Rough and Ready Engine Binding. IN the second
wHrd: at the llibcruian Engine Building, in the
third ward a the Court House, IN the fourth ward:
FOurth ward: and AT the store house building of
james Carroll. corner Commercial avenue and
Twcnty.ci.hth street in the Fifth ward for the puf.
pose aforesaid at which said special election. there
shall BE- submitted to the legal voters of said cy
the question of issuing the said bords under The
net aforc said In manner and form and for the pur
pose specified in the preamble 10 this ordinance aud
~ therein SET forth.
SECTION . That said special election shall hc
held. and due notice thereof -ha he given by the
CITY Clerk Of laid City and the ballots cnst hcrrHt
shall read in manner and form A. required by the
said Act approved and in force April q, ls''.
ArrEoyrn June D. lsis. .
HENRY WINTER
MAYOR CITY OF CAIRO,
ATTEST:
j. Il. PHllLlS. CITY CLERk.