The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-05-08
THE CITY COUNCIL.
MEETING LAST NIGiT-A PETITION on THE
SUBJECT OF THE BONDED INDEBTEDNESS
OF THE CITY DISQUALIFICATION v ,Trup.

w i''''A . ELM NOli MATTHEW
The City Council met at its hail sLortl,
after eight o'clock last night, and, in IN,
absence OF Mayor Winter, who was sick
City Clerk Phillis called /, 10 order.
Upon motion OF Mr.. Rittenhouse Mr.
Halliday was called upon TO preside.
Messrs Foley, Thstlewood. Wood. Wriyh,
Callahan, Rittenhouse and Paticr wcr,
present.
The reading of the minutes of previous
meetings was dispensed with,
The report of the .iailor showing tn,
number Of prisoners committed during I'll,
month was read and ordered filed.
\ report from Police Magistrate Bin
showed that during the month of Marcl
$500 had been assessed as fines. $40 OF
which were paid.
The Comptroller's rcpor, was read and or
dered printed.
The City Treasures report for April wa.
referred to the City Comptroller.
The same officers annual report, an al.
stract Of which has been published in THE
BULLETIN, was read and referred to the Fl
nance Committee.
The Finance Commute submitted report
stating that they had received from City
Treasurer Parker Sl,4ll,S4 cancelled gen
eral fund city orders and Ss22 cancelled
interest bearing city orlers. which they had
destroyed by burning.
The following petition presented by Mr..
Riucnhouse was read and filed;
To the Hon Council OF ;ae City Of Cairo, 10 the
/ state of Illinois.
Your petitioners. the undersigned legal
voters residen, in said city. respectfully
/ show:
First That said city has heretofore is
sued is municipal bonds. which are bind.
/ Ing. suhSisting and legal obligations OF said
/ city, and the same Ia an amount far in ex-
ce,. of said city's present ability "a pay,
remain outstanding and unpaid; all OF
which said outstanding bond. can. a. your
/ petitioners believe. be purchased or retired
at about fifty cents on the dollar, by the
/ issuance and sale OF new bonds for much
/ les amount. and drawing lower rate of
interest than said outstanding bonds, under
and in pursuance Of act emitted An Act 10
amend an act entitled. an act relating 10
county and city debts. land 20 provide for
the payment thereof by taxation in such
I Il
1855, and to amend the title thereof" ap-
! proved and in force. April -, 1877.
Second. That "a the end aforesaid. your
| petitioners believe that il is the wish of Il
majority OF the legal voters OF said city
that the proper corporate authorities Of said
city shall issue new bonds under said act,
and sell the same 10 raise money 10 pur-
chase or retire all OF notwithstanding bonds.
which new bonds shall consis, OF 40
bonds. numbered to 40 OF the denomina-
tion of 81 900 each 200 bonds numbered
TAI To $50 Of the denomination Of $500
each: 200 bond. numbered 34l t. $40 OF
the denomination Of 800 each. and 200
bonds numbered Al to 40 Of the demon
ination Of $50 each, making total Of 40
bonds Of the aggregate amount Of SEQ, 900.
beng about 30 per cent OF the sum total
Of said outstanding bonds proposed 10 be
retired. All OF said new bond. 10 bear
date July |. 1878. and draw interest Il: the
rate OF six per cent per annum, from date
until paid, both principal and intercs; 10 be
! payable at the First National Bank Of New
York, in The cry and Stateof New York, in
semi-annual installmcnts. on the It day Of
of January and .Juyof each year. after date
of said bonds. and running through period
OF 1917 years, as follows. to.wit; Eight
equal semi.annuaI installments of 3 per
cent OF tn face Of said bonds for and dur
! ing the first four years. and 30 equal semi
annual installmcnts Of J per cent Of the face
OF said bonds for and during the next -
years, and one final instalment of the re-
maining Of principal and interest OF the
said bonds at the end Of said 1871, years
each and all Of said instalmcnts 10 be ey.-
dcnced by coupons 10 hc attached to said
! bonds and payable only upon presentation
and surrender Of such coupons. and said
honds 10 be also surrendered and disclarg-
ell upon payment Of said cou-
/ pOnS for final ins,aImcnt. the
! proceeds OF sale OF which said
two hundred and seventy thousand dollar.
in the new bonds to he expended under the
! direction of the proper corporate author.
! ties OF said city in the purchase or retiring
OF each and all OF outstanding bonds. and
for no other purpose whatever.
Wherefore. your petitioner. respectfully
| pray that the honorable CITY Council aforc.
said. will submit 10 the legal voters Of
of said city, At II special election 10 be or.
dcrcd 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 as aforesaid, and as pro-
vidcd IN and by the act aforesaid, and ~ in
duty bound your petitioners will ever
! pray etc.
X, ii. CUNNINGHAM, VI. j. lIowIEY,
r. kohsMEYEH, w. =. HALLIDAY,
! CHAs. PiNk. I.OuIs HERBERT.
II. II. CANDEE. G. d. WLLI\NsoN.
!. W, BARCLAY, HERMAN MYERS,
JNo. j. Bird. WV. MclIME
]. II METcAlr, Rrcu'p FrrGEn,Lp.
PAth g. ScnrlI, ions q. HAnMAN,
The salaries Of officials for the month of
April were, on motion Of Mr.. R,tcnhousc,
D L a.