The emigrant aid journal of Minnesota. [volume] (Nininger City, Minn. Terr. [i.e. Minn.]) 1856-1858, 1858-04-07

old imp had ,crswled behind me, and pulling my shirt
through the hole OF my pants had pinned it to the chair,
and in jumping up, l displayed to the admiring gaze Of
She sstorished multitude q tride more white muslin
:han was pleasant. The women giggled, the men roar
cd. and | got mad, but vas finally put % bed, and there
sll my troubles ended. Good night.
Yours, J. ". NJ
EBY AUTHoRITY.1
II L0 BIZ.
AN ACT proposing an amendment to Section ten. Ar
scle nine Of the Constitution, and providing for the
submission of the same to the people.
Be it enacted By the Legislature of the State OF Mime
SECTION l. The following amendment to the Con-
stitution Of this State is hereby proposed for publica-
sion, and approval or rejection by the people in accord.
snce with Section | Of Article Ii Of the Constitution :;
that is say, that Section 10 Of Article Q Of the Con.
s:itution shall be as follows -
Sec. 10. The credit of this State shall never be given
or losned in aid of any individual. association or cor
Poration. except that for the purpose Of e~xpediting the
construction OF the lines Of railroads. in aid of which
the Congress Of the United Statas has granted lands to
the Territory Of Minnesota, the Governor shall cause to
De issued and delivered TO each of the companies in
which said grants are vested by sLe Legislative Assem-
bly, Of Minnesots, the special bonds Of the State, bearing
sn interest OF seven per cent. per annum, payable semi
annually in the city Of New York, as 3 loan of public
credit, 10 an amount no. exceeding twelve hundred and
afty thousand dollars or an aggregate amount to all of
ssid companies not exceeding FIVE million Of dollars, in
manner following, to wit:
Whenever either Of the said Companies shall produce
20 the Governor satisfactory evidence, verified by the
afadsvits Of the Chief Engineer. Treasurer. and two
Directors OF said Company, that any ten miles Of the
road OF salo Company has been actually constructed
ind completed, ready for placing the supers.ructurc
thereon, the Governor shall cause 50 be issued and de-
!Ivered 10 such Company bonds to the amount of one
rHp1 Sp1n.o~l ILL., ~
as often as either Of said Companies shall produce to
the Governor like evidence OF Z further construction Of
zen miles Of Its road as aforesaid, then the Governor
shali cause to Dc Issued 10 such Company further like !
bonds TO the amount OF one hundred thousand dollars |
Tor each and every ten miles Of road thus constructed, |
and whenever such Company shall furnish like evidence
that any ten miles OF its road is actually completed and |
cars running thereon, the Governor shall cause to be |
Issued to such Company like bonds 60 the amount Of
one hundred thousand dollars; and whenever thereafter. !
and as often IS either of said Companies shall produce
20 the Governor like evidence that any further ten miles
OF said read IS In operation as aforesaid, the Governor
ahal! cause 90 De issued to such Company further ike |
bonds 70 the amount Of one hundred thousand dollars
until the full amount Of the bonds hereby authorized |
shall De Issued Provided, That ~two-ffths and no moro
Of ai bonds issued to the Southern Minnesota Railroad
Company, shall be expended in the construction and
equipment Of the line Of road from La Crescent to the
point Of junction with the Transit Road. a. nrov;ded hv |
~N' eN NASOS CvkAN ku6t VIC IVluuG3DOlfS AMI !
Cedar Valley Railroad Company shall commence the |
construction Of their road at Faribault and Mipneanolis.
and shall grade an equal number Of miles from each Of
said places.
The said bonds thus issued shall be 'denouinated
Minnesota State Railroad Bonds and the faith and
credit Of this State are hereby pledged for the payment
If the interest snd the redemption Of the principal
thereof. They shall be signed BY the Governor, coun.
~seraigned and registered by the Treasurer, sealed with
the seal Of the State, Of denominations not exceeding
one thousand dollars, payable to the order Of the Com.
pany to whom issued, transferable by the endorsement
OF the President OF the said Company, and redeemable
a. any time after ten and before the expiration Of
twenty-five years from the date thereof. Within thirty
days after the Governor shall proclaim that the people
have voted for a loan Of State credit to railroads, any Of
said companies proposing to avail themselves Of the
loan herein provided for, and to accept the conditions Of
The same, shall notify the Governor thereof, and shall
within sixty days commence the construction of their
road, and shall within two years thereafter, construct
ready Tor Inc sipofssructnre. at least fifty (50) miles Of
thelr road. Zach company shall make provision for
che puncsuai payment and redemption of all bonds is. !
sued and delivered IS aforesaid, to said company, and
!or the pnnctual payment Of the interest which shall
accrue thereon, in such manner as to exonerate the
treasury at this STATE from any advances Of money for
that purpose and az security therefor, the Governor
ahall demand ard receive from each Of said companics,
before any OF ssid bonds are issued, an instrument
piedgingg the net profits Of its road, for the payment of
aaid interos;, and 4 conveyance 20 the State of the first
swo hundred and forty sections Of land, free from nrior
ancunabrahcss, which such company IS OF NAV be- AL.
EhorizeG 10 sell 10 trust for the better .ecurifr ~ tho
Treasury Of ;he State from loss on said bonds. which
said deed Of trust shall authorize the Governor and Sec
rotary Of State TO make conveyancas Of title to al or any
Of such lands to purchasers, agreeing with the respective
ya,lroad companies therefor. Provided. That before re-
leasing the interest Of the State to such lands, such sale
shall be approved by the Governor, but the proceeds Of
aLl such sales shall be applied to the payment of interest
accruing upon the bonds in case of default Of the paw
nent Of the same, and as a sinking fund to meet any
future default in the payment Of interest and the prin-
cipsl thereof when due and as further security, an
amount OF first mortgage bonds, on the roads, lands and
franchises. of the respective companies, corresponding to
the State bonds issued, shall be transferred to the Treas
nrer Of the State at the time Of the issue of State bonds,
and IN case either of said companies shall make default
IL payment Of either the interest or principal Of the
bonds issued to said companies by the Governor, no
more State bonds shall thereafter be issued to said COM
pany ; and the Governor shall proceed in such manner
as may be prescribed by law, to sell the bonds of the
detau!tlng company or companies, or the lands held in
:Eust 80 above, Or may require foreclosure of the mort
gage executed TO secure the same ; Provided, That if
any company 80 in default, before the day Of sale, shall
pay all interest and principal then due, and all expenses
incurred BY the State, no sale shall take place, and the
light of such company shall not be impaired to further
loan Of State credit. Provided, if any Of said companies
shali at any time offer to pay the principal, together
With the interest that may then be due upon any Of the
minnesota State Railroad Bonds, which may have been
issued under the provisions of this section. then the
Treasurer of State shall receive the same, and the liza
oilit:es Of said company or companies, in respect to said
bonds, shall cease upon such payment into the State
Treasury Of principal, together with the interest, a.
Aforesaid. Provided further, That in consideration of
inc loan n OF State credit herein provided, that the COM
Rany OK companies which may accept the bonds Of the
staten the manner herein specified, shall, as a condi.
ton thereof, each complete no: less than fifty miles of
as sosaNsn 'or. before the expiration Of the year 1851, {
= }aot Less than one hundred miles before the vesr /,
I. @ -