The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-06-21
ORnINANCE No 10

AN ORDINANCE PROVIDING FOR THE HOLDING OF
SPECIAL ELECTION AND SUBMISSION OF THE ougs.
TON OF ISSUING BONDS UNDER THE ACT THEREIN
NAMED.
WHEREAS, The petition Of ten legal voters resi-.
dent in the city Of Caro- Illinois mas been presented
70 me Clty CouncFoi the city Of Cairo representing
tirst-That said city has heretofore issued its
municipal bonds, which are binding sub-isting and
legs obligations of said city, and the same 10 an
amount far In excess Of sad city's ability IN nav ra
main outstanding and unpaid; all'of which said ont.
standing bonds can, a. said petitioners believe be
purchased and retired at about ff,y cents on the
aoLar by the issuance and sale of new bonds for
much less amount and drawing a lower rate OF in
terest than said outstanding bonds under and in
pursuance Of the act entitled An act TO amend an
aG entitled An act relating TO county and city debts
ana 10 provide for the payment thereof bv taxation
ID such counties and cities, approved February IA
lSo5, and to amend the title thereof approved and
Sacoud-That to the end aforesaid, the said De.
utioners believe that is the wish Of the majority
OF the legal voters Of said city that the proper cor
poIate authorities Of said city shall Issue new bonds
under said act and sell the
purchase or retire all Of said bonds-which new
bonds shall consist Of l40 bonds numbered to 40
ofthe denomination Of $1,000 each 40 bonds, mum.
bered i4l TO $40, Of the denomination Of $500 each
10 bonds, be!ed 81 70 $40, Of the denomination
Of 800 each; and 80 bonds, numbered 81 20 40,
Of the denomination Of $50 each: making a total
Of 40 bonds Of the aggregate amount Of $4,000
said outstanding bonds proposed to be retired All
OF said new bonds TO bear date July /, 1873 and
draw interest az the rate Of six per centum per AN.
l nun rom datg unti psGLboth principal and inter
York, In the city and State Of New York, in semi.
annual instruments on the lst days Of January and
July Of each year after date Of said bonds and run
ming through period Of lqi, years as follows 10
VII VIZ; equal semisunual instruments Of per
cent OF the face Of said bonds for and during The
hrst4 YEAR, 20 equal :emi-asnual instslments Of
per cent OF the face Of said bonds for and durdg
the next - years; and one final instalment of the
remainder Of principal and interest of said bonps
az the end OF sad lei, yearseach and all Of said IN
sta!ments 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 insialment The proceeds
OF the sale OF which said two hundred and seventy
thousand dollars new bonds 10 he expended under
Inc direction OF the proper corporate authorities of
SAID city in the purchase retiring Of each and nil
Of said outstanding bonds and for no other purpose
whatever,
And praying that said Council will submit 10 the
legal voters Of said city at special election TO be
ordered for such purpose, the question of issuin,
bonds under laid 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 a. provided in and by the act aforesaid; and
WHEREAS Said Council &, DESTROYS and willing TO
call said special election and submit said questions
prayed IN said petition; therefore
BE II ordained BIS the city council Of the city O
Cairo;
SECTION l. That special election be held IN
Thursday, the Twcnty.Seycnth day OF June 4 n
lsis, IN the several wards in the City of Cairo-at
the Athcueum Building, in the first ward; a, the
Rough and Ready Engine Building In the second
ward al the ilibcrnian Engine Building in The
third ward at the Court House in the fourth ward
Fourth ward: and at the store house building of |
James Carroll. corner Commercial avenue and |
Twenycghth street. IN the Fifth ward for the pnr. |
pose aforesaid at which nd special election there
shall b. submitted TO the legal voters of said civ
the question Of issuing the said bonds under Inc |
act aforesaid IN manner and form and for the pur.
pose specified In the preamble to this ordinance and
as therein set forth,
SECTION . That said special election shall be |
held, and due notice thereof shall be given by the
CITY Clerk Of said City, and the ballots cast thereat
shall read, in manner and form a. required by the |
said Act approved and IN force April q, 1877.
APPROVED; June 8, ISIS,
HENRY WINTER.
MAYOR CITY or CAIRO. |
ATTEST.
j. b. PHlLLlS. Cry CIEEK.