The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-06-25
ORDINANCE NO. ~.


An ORDNANCE PROVIDING FOR THE HOLDING or A
SPECIAL ELECTION AND SUBMISSION OF THE CUES.
TloS oP ISSUING lbs UNDER THE ACT THEREIN
SANEb
dent In the city OF Caro- Illinois has been presented
TO the uty Council Of the city of Cairo, representing
10 said Council:
Fir-t-That said city has heretofore issued it,
municipil bonds. which IRE binding, subsisung and
legal Obligations OF said city, and the same. TO An
amountiar In excess of said ctys ability To pay re-
main outstanding and unpaid; all Of which said out
standin; b0nds can. a. said petitioners believe, be
purchased and retired at about fifty cents on the
dollar bi the issuance and sale Of new bonds for
much les amount and drawing lower rate OF in.
terest thin said outstanding bonds, under and In
pur-uanc, Of the act entitled An act TO amend an
act entitled An act relating to county and city debts
and TO pr"tde for the payment thereof by taxation
IN such csuntes and cities approved February Is.
ls,o, and % smcrd ne title thereof, approved and
In force april y. 1877.
SecOne-That 10 the end aforesaid. the said De.
ttioner- believe that ii II .he wish OF the majority
OF the lch voters Of laid city that the proper cor
porat< authorities o. said city shall issue new bonds
under said act and sell the
| same outstanding to raise money to
! purchase or retire III Of said bonds-which new
boncr shall consist OF 40 PONDS, numbered to 40
bered Alto $40, o. INSTRUMENTATION OF $50 each
10 eOnds numbered al to az, Of the denomination
| OF 500 ech and 30 bonds, numbered al to 40
OF the denomination OF So each making tota
| being absut ~ per centum Of the sum total of al
| said outstanding bonds proposed 10 be retired. All
Of said new bonds TO Dear date July I, 1875 and
draw interest at the rate Of six per centum per an
mum from 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.
annual irstalments, on the Let days Of January and
July Of each year after date of said bonds and run
ming Though period Of 1871 years, AZ follows to
wit. VIZ: equal semiannual instruments of per
cent OF he face of said bonds for and during The
first years; ~ equal scmi-aanual instalments Of
per cent, VI the face of said bonds for and durdg
the next Il Year,: and one final instament of the
remainder % principal and interest OF said bonps
as the end If said 49,. yearseach and all or said In
stalments o be evidenced by coupons 20 be attached
10 said bofds and payable only upon presentation
and surrender of such coupons, and said bonds 20
be also surrendered and discharged upon payment
OF said COUPONS for fms instament. The proceeds
Of the sale Of which said two hundred and seventy
Thousand ioars new bonds TO be expended uudci
the direction of The proper corporate authorities OF
said city II the purchase retiring Of each and all
OF said outstanding bonds; and for 40 other purpose
whatever,
And praying that said Council will submit TO the
legal voters " 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 aforesaid
and a. provided in and by the act aforesaid: and
WHEREAS. said Council L. DESTROYS and willing to
call said -pedal election and submit said questions
prayed in sa.d petition: therefore
BE II ordained bi the city council of the city OF
! Cairo
SECTION !. That special election be held on
Thursday the TwentySeyenth day of June. A. D.
1873. In the several wards in the City of Cairo-at
the Atheneum Building in the frs, ward: al the
Rough aud Ready Engine Building. in the second
ward at the Hibcrnian Engine Building, in the
third ward at the Court House, In the fourth ward
Fourth ward: and at tb store house building of
James Carroll, corner Commercial avenue and
Twentyeighth street nthc Fifth ward for the pur.
pose aforesaid Al which said special election there
shall BE- submitted to III, legal voters of said CITY
the question Of issuing he said bords under she
act aforesaid in manner Ind form and for the pur
pose specified In the preamble to this ordinance and
a. therein set forth,
SECTION ,. That said special election hall he
held, and due notice thereof shall be given by the
CITY Clerk Of said City and the ballots thercat
shall read, in manner and form as required by the
said Act approved andin force April'yt, 1877.
APPROVED: June 5, SIS
HENRY WINTER.
MAYOR CITY OF CAIRO
Attest:
j. b. PlilLLIS. CIT CLERK.