The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-06-08
ORDINANCE no. 10

7. y
An ORDINANCE PROVIDING FOR THE HOLDING OF 4
SPECIAL ELECTION AND SUBMISSION or the CUES.
rloS or ISSUING BONDS UNDER TnE ACT TilEEEIS
NAMED.
WHEERAs, The petition Of ten legal voter resi-.
dent IN the city OF Caro-, Illinois ha- been presented
10 the city Council of the city of Cairo representing
to said Council.
fir,t-That .aid city ha- heretofore issued It.
municipal bond, which are binding. .tlb,i-ting and
legal obligations OF sad city, and the same TO III
amount far IN excess of sHid city, ability to pay r..
main Ou,slundiI. and unpaid all of which .ud ont.
standing hOnd- can Ms said petitioners believe be
purchased aud retired al about fifty cents on the
dollar by the issuance aud suc of new bonds for Il
much lees amount and drawing a lower rate OF in.
tcrc-t than raid outstanding bonds, under and in
pursuance Of the act entitled AN net to amend Al,
act entitled An act relating TO county and city debts
and 10 provide for the payment thereof by TAXATION
III ruch counties aud cltlcr, approved February b.
lStt and 10 amend the title thereof" approved and
IN force April q. 1877.
Srcund-'That 10 the end aforesaid. the said pc
titoncr- believe that II j. the wish Of the majority
Of the legal voters Of said city that the proper cor.
porate authorities OF sad city shall issue new bond,
under -ad act and sc the
same outstanding 10 rai-c money to
purchase or retire ull of -ud bonds-whiCh new
bonds shall consist of 40 bonds numbered to 40
Of the denomination Of $1,000 each 40 bonds nun.
hcrcd ~ 10 40 OF the denomination of $50 each {;
~ bonds numbered 3il To 80 of the denomination
of SlO0 caCh; ana 40 bonds, numbered al To 40.
Of the denomination of S'n each: making total
being about ~ per crntum of the sum total of all
laid outstanding bonds proposed to he retired. All
of laid new bonds to bear date July /. lS1s. and
draw interest at the rate of six per ccntum per an.
mum from date until pHidbUth principal aud inter.
est 10 be payable at the First National Bank of New
York in the city and State of New York. IN semi
Nnunul Instruments on the 1t day. of January and
July of each year after date of -aid bonds and run.
ming through period of 1879 YEAR.. ~ follows. To
Wit, viz: : equal scmunuuGl u.talncut, OF 3 per
cent ut the face Of said bonds for and during the
first YEAR; 10 equal srml unnual instruments OF :,
per cent Of the face OF sud bond, for and duridr
the nuNt H. YEAR; and one rnul instulmcnt of the
remainder Of principal and interest OF said houps
~ the end of said ~. ycarScuch and all OF said III
-umcu'. tO De evidenced 10y coupons To be attached
20 laid bonds and payable only upon presentation
and surrender of such coupons aud >aid bonds To
be also surrendered aud discharged upon payment
of said coupons for nual iuslamcut The proceeds
of the .alr of which said two hundred and seventy
thousand collars new bonds 20 be- expended uudrr
the direction Of the proper corporate authorities of
said civ IN the purchase or retiring of each and all
of said outstanding bonds aud for no other purpose
whatever,
And PRAYING that said Council will submit TO the
legal voters OF said city At special election 10 be
ordered for such purpose, the question OF issuing
bonds under said UCt, In number and amount, and
with interest and of the tenor and effect aud Tor the
purpose aforesaid, IN manner and form a. aforesaid
aud ~ provided IN and 10y the act aforesaid, and
WHEREAS, said Council j. DESTROYS aud wiling To
call said special election aud submit >adqUc.tioEs
PRAYED IN said petition: therefore
BE IL ordained hi the ely council Of the city Of
Cairo.
SECTION T. Tint special election he held Oh
THURSDAY the Twenty. Seventh day of June A. D.
1875, In the several wards In the city of Cairo-ut
the Athcncum Building, in the first ward al the
Rough and Ready Engine Building in the second
ward; Mt the llibcruin Engine Building. in the
third ward: nj the Court House in the fourth ward
foWth ward: and nj the store house building of
James Carroll, corner Commercial avenue and
Twenty eighth street In the Fifth ward for the puI.
pose aforesaid at which said special election there
tmll h. submitted to the legal voters of said city
the question of issuing the said huI d. under the
act aforesaid in manner aud form and for the pur-
pose specified III the preamble to this ordinance aud
A. therein set forth
SECTION . That said special election shall he
held, aud due notice thereof shall be given hy the
CITY Clerk Of said city. and the ballots cast thrrrat
shall read, In manner and form H. required ny the
laid Ar, approved and in force April -, 1871.
APPROVED; June ;. 1879
HENRY WINTER
MAYOR CRY OF CAiRO.
ATTr-T;
j. H. pllll.llS, ClTY CLFKK,