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142 REVISED ORDINANCES OF PADUCAH.
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N. O. & O. R. R. Co., Funded Bonds_
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Ohio Railroad compary, and shall be delivered to said com-
pany in conformity with the contract before referred to, be.
tween James Campbell of Paducah and John Childe, agent
of the Mobile & Ohio Railroaa company, and dated at Nash-
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ville, Tennessee. November 2, 1852, which contract, having
been approved by the chairman and board of trustees and
published in a paper of the town, is hereby submitted for
acceptance and ratification by the voters of the town.
And it is further matted and ordained that before any
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" of said bonds shall issue, or any subscription be made under
this ordinance, this ordinance with the preamble setting
forth the terms of the subscription of stock shall be4ubmit-
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ted to a vote of the qualified voters of the town of Faducah
qualified to vote for in embers of general assembly of Ken-
tucky at'tlhe courthouse in the town of Paducah on Wednes-
day,the 23rd day of Ma arch, 185d', and if on such submission
to the voters of said town a majority shall be cast for it.
the chairman and board of trustees of said town shall make
said subscription on the terms as set forth in. this ordi-
nance and preamble, and it is ordered that this ordinance
shall be published twenty days before said 23rd • day of,
March, 1853, in, at least one of the newspapers printed in
Paducah.
WM. NOLEii Chairman.
March z, 1853• WM. GREIF, Clerk.
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Funded Bonds.
An ordinance authorizing the furdin of a
B portion of
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the bonds issued by the city of Paducah, Ky, on account
/ of the New Orleans & Ohio Railroad company.
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Be it ordained by the mayor and the .:orrtmon council •of
the city of Paducah:
r. That in order to fund a portion of .:he bond's issued
by the city of Paducah on account of the New Orleans anti
Ohio Railroad company, consisting of thirty-three O.Aw
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REVISED ORDINANCES OF PADUCAH.
Panded Bonds.
bonds of one thousand dollars ($1,000) each, due the first
day of January, t872, and thirty-three (33) of one thousand
dollars ($1,000) each,due the first day of January,1873, and
twenity-nine bonds of one thousand dollars ($1,000) each,
' . due the first day of January, i87 4, and One bond of one thou.
Sand dollars ($1,000) due January 1, 1864, and not funded,
sa4d city of Paducah, Ky., shall issue her bonds or certifi-
cates of loan to th
e m tuber of ninety-five (95) of the de•
nomination of one thorsand dollars ($r,000) each, payable
twenty years after dat•; or at any time at the option of the
council after the expiration of five years from date; the
b,nds to bear ten (10) per cent interest from date, and in-
teresi to be paid semi-annually at the bank of the State of
New York, in the city of New York, and said interest cou
pculs shall ae utached to said bonds, payable on presenta-
tion at the place above named.
2. That if the common council shall desire to pay any of
said bonds after the expiration of five years, they shall
Sive novice by publishing in some newspaper published in
the city of New York for at least ten (to) days the number
Of the bonds they propose to pay,
3• If any of the bondholders refuse or neglect to pre -
rent said bonds within thirty (30) days from the publication
of said n0tice to the above-named' bank, then the interest
p, thereon shall cease and terminate.
4. Be it further ordained that all the real estate and
personal property in the city of Paducah, Ky., shall be taxed
each rear in such amcunts as may be necessary to pay the
interest on said bonds. and the principal when the bonds be -
elute clue, or at any 'time after the expiration of five year=
d5) at the opti. n of the common council.
5• Be it further ordained that persons refusing to pay
their taxes so levied shall be
proceeded against as in s:milai
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cases when they fail of refuse to pay 'their r.;ilroad taxes, as
now provided by law.
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i44 REVISED ORDINANCES OF PADUCAH.
Funded Bonds. Taking Up Bonds.
6. That the finance committee, in conjunction with the
mayor, are hereby appointed' to have. said bonds printed,
and have this ordinance carri:4d into effect.
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Taking Up Bonds.
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An ordinance in relation to the proposition submitted
by the council to the qualified voters of the city of Paducah
- on the 4th day of, November, 1858, for the purpose of tak-
ing up bonds, etc.
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Be it ordained by the mayor and the common council of
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the city of Paducah, Ky.:
Whereas, the New Orleans and Ohio Railroad company
are the holders of one hundred and fifty (t5o) of the one
thousand. dollar ($t,000) ccupon bonds of the town of Padu-
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catt, due and .payable July 1st, 1883, issued by said town as ,
apart pay to said railroad company ' for four thousand shares
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subscribed by said town in the capital stock of said New Or-
le:nfs and Ohio Railroad company, and it being impossible
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to negotiate said bonds except at a very great sacrifice, and
that indicting upon the citizens a heavy lass, and being de-
sirou, that said railroad company may make 'said bonds
available for the completion of said road, and the New Or-
Leans and Ohio Railroad company having proposed to the
mayor and councilmen of the city of Paducah, that said city
should redeem or pay said one hundred atria fifty bands by
an issue of bonds of said city for a like amount, payable as
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follows: One-sixth path of which shall be due and 'payable
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or, the first day of January, t86o; one-sixth part of which
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shall b • due and payable on the first day of Januar, 1861;
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one-sixth part due, and payable on the first day of January,
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t862; •)ne-sixth part due and payable on, the first day of
January, 1863, and one-sixth part due and payable on the first
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day of January, 1864, and one-sixth part due and payable on
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the first day of January. 1865.