The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1852-03-19
THE BRIDGE BILL,


ments, as finally passed by the Legislature
granting loan of state bonds to the East
Tennessee and Georgia Rail Road Company
! for the purpose of building the bridge across
the Tennessee river at Loudon.
An Act to aid in the completion of the East
Tennessee and Georgia rail road.
SECTION 1. BE ii enacted By he General
Assembly Of the State Of Tennessee, That fol
the purpose of aiding in the completion ol
the East Tennessee and Georgia rail road, so
soon as the Governor may be satisfied that a
good substantial and permanent bridge has
been constructed and finished complete across
the Tennessee river, at or near Bair's ferry
ready for laying down the iron rails thereon
to be begun, carried ON and completed under
the direction and superintendent of the
engineer of said rail road, and to be perfected
by him and accepted as finished, then and in
that case, it shall be the duty of the Governor
to issue to said company coupon bonds of the
State of Tennessee, sufficient to pay for the
construction of said bridge: Propided, that he
shall not issue more than one hundred thou
sand dollars in bonds as aforesaid for said
object, and which said bonds shall bear an
interest of six per cent per annum, and have
not less than thirty nor more than forty years
to run to maturity.
Sec 9. Be ii enacted, That for the purpose
of enabling the said company to raise fund
for the payment of the interest on said bonds,
and also to pay the principal thereof, at or
before maturity, the said company are au-
thorized and required to demand and receive
from all passengers crossing said bridge in
said rail road ears, in addition TO the regular
charges, the further sum of ten cents on each
passenger, as bridge toll, and it shall be the
duty of the said company to collect the said
sum at the same time the regular passage
money is collected, and to render monthly
account thereof, and pay over monthly the
said sum in some bank at Knoxville, taking
the receipt of the bank therefor, and the sum
so deposited in bank shall at all times be sub
ect to the check of the comptroller of the
treasury for the payment of the interest on
said bonds, and any Overplus after the pay
ment of said interest shall be passed to the
credit of the company in discharge of the
principal due on any one or more of said
bonds PrOuided, that as soon as the interest
and principal of said bonds shall be paid, the
said company shall be released from the
exaction of said additional charge
Sec. 8. Be ii enacted, That the express
conditions on which any bonds under this act
shall be issued to said company, are, that
upon the issuance of said bonds the said rail
road and bridge, with all the appurtenances
thereto belonging, and the interest Of the
individual stockholders therein, and the tolls,
issues and profits of said road and bridge,
shall be and is by force of this act vested in
the state for the security of the state against
the payment Of the bonds issued Under this
act and the interest thereon, and the state is
hereby declared to be vested with all the
rights to have and hold upon the issuance of
the bonds authorized by this act, the entire
road and bridge and all the appurtenances
thereto belonging, and all the tolls issues and
the profits of the stock for the security Of the
payment Of said bonds and the interest
! thereon accrung, as a rnortage to secure the
payment of the same, and said road and all
its appurtenances Of every kind and descrip-
ton, shall be subject to any law that has
been or may hereafter be passed for the
enforcement of mortgages in like cases.
Sec. 4. Be it enacted, That if the East
Tennessee and Georgia fall road company
shall not undertake to complete that road to
Knoxville, the benefits of this act shall enure
to and be conferred upon any fail road COM
pany that will undertake the same and COM
ply with the provisions of this act
Sec 5. Be it enacted, That if the East
Tennessee and Georgia rail road company, or
any other company that will undertake to
complete said road to Knoxville, shall locate
said road on different route than may make
it necessary to construct bridge across the
Tennessee river at or near Blairs ferry, the
provisions of this act shall enurc and apply
to any bridge or bridges that may be con-
stfutted upon such other route, but in no
case, shall the amount of bonds to be issued
exceed one hundred thousand dollars.
SEc 6. Be il enacted, That no bridge or
bridges to be constructed on said road, shall
obstruct the free navigation Of any river or
rvers.
JORDAN STOKES.
Speaker of the House of Representatives.
NJ X. HILL,
Speaker of the Senate.
Passed, February A, 1862.
AMENDMENTS.
Sec. 5. BE ii enacted, That the act passed
by the present General Assembly, entitled,
"an act to aid in the completion Of the East
Tennessee and Georgia rail road,"' be so
amended that the provisions of said act be
made to extend to the abutments and en-
bankments connected with said bridge, and
also be so amended that upon the certificate
of the Engineer, that one-fourth of the work
in value on said bridge has been completed
according to contract, 1t shall be the duty of
the Governor to issue twenty thousand dol.
lars of said bonds to said Company; and upon
like certificate that one-half of said work
has been completed, the Governor shall Issue
another twenty thousand dollars of said
bonds; and upon like certificate that three
fourths of said work has been completed, the
Governor shall issue another twenty thousand
dollars of said, bonds; and upon like GER
tificate that the whole of said work has been
fully completed, the Governor shall issue the
remainder of said bonds, but in no event shall
more than one hundred thousand dollars in
bonds be issued for said work.
SEC. g. BE IL further enacted, That said
East Tennessee and Georgia Rail Road
Company shall procure bona .fde good and
solvent subscriptions in amount sufficient to
grade, prepare the timbers and prepare the
whole line of road proposed to be construct
cd, ready for the reception Of the iron, and
these facts shall be certified 10 the Governor,