The daily Butte record., 1858-05-19
Am ACT

sEorIos 4. The 80 lrl Of supervisors in ani fJr q
Ie county Of Butte, are hereby aathorI hed and
npO wereds at ther discretion 10 issue tire bonds
the coutfty of BUTTE, as a loan for the purpose
constructing railroad within It's limits. to the
stent Of two hundred thousani dollars to the !
Gather river Railroad Con pany. hDull a company
y that name be incorporated, or to any other
ompany now. or that may hereafter he ineorporateh
thereby connection may be formed by means OF
rail, 6ad between UroylLe arsd tide water, by way
( Sacramento or otherwise - t-# s- -
SEE Whenever the Board Of Superyisors OF
aid county shall agree to issue the bonds 0i sa'd
Dunty as a loau to any incorporated company for
he purposes mentioned in the first section, and
shenever said company shall, by and through IT'S
proper and constituted authority. agree TO receive
said loan, and 10 give therefor its hrst mortgage
bonds. Whereby the said railroad company and all
the corporate property thereof shall be held ~
curity for the payment Of said first mortgage bonds
and the interest thereon to said county The Board
Of Supervisors IN that event. at regular meeting
shalt by order entered upau its records,
declare its assent such loan the amount, in what
amounts, to what company and where each amount |
IL to be paid. Upon the entry Of such order. the
Chairman of the Board Of super vsors the County |
Treasuter. aud tho County Auditor, shall as soon
thereafter practicable have prepared county
bonds corresponding in amount, number. place o.
payment and to wlfoin payable, as designated by
said Board; provided that no bond shall be issued
for an amour. exceeding 1--we thousand dollars The
bonds shall draw interest at the rate OF eight per
cent per annum and shall be made payable al the
Office OF the County Treasurer OF said county or IN
the city of San Francisco. or in the city OF New
York at the option Of said company, on or before
the fsrs day of January, 1912 The interest arising
on said bonds sh Ali be iue and payable semi annu-
ally on the first day of January ani July In each
year and shall be due and payable ut the same that
The bonds are. Coupons for the interest shall be
attached 10 each bond, that when paid, they may
be removed without mutiiation to the bonds, and
delivered to the County Treasurer to be by him
kept as a voucher for the payment of the same.
SEC 3 The bonds and their coupons shall be con-
| secut,veiy numbered. signed by the chairman of
the Board Of Supervisors. the County Treasurer and
County Auditor and when 20 signed shall be deiiv-
eroi TO the Board Of Supervisors, at some regular
meet M thereof who shall cause the County CLERK
OF said county, in their presence, 20 counterSgn
said bonds. anh to aihx thereto the seal OF the
County Court, and such attestatou shall be entered
upon the records Of said board, giving the date, the
number, the amount, when payable and to whom OF
each bond. when said bonds hall have been thus
| executed, AMI the said company shall have issued
| and delivered in due form Of law, to the Board oi
! Supervisors OF said county, their first mortgage
bonts bearing Interest, payable semi-annu Ally. on
I the first day Of June and December of each year
after the first I've years, at the late OF eight per
cent per aunum. from the date OF said bonds. aud
| corresponding in amount with sNd county ooni'
and MADE payable on the first day Of November
1878 t. the county of Butte or her order, at the
! Office Of the county treasurer of said county Ii
that event and not otherwise, the Chalrntn OF the
Board of Snparyisprs shall deliver, afa consiiera
tion for said first mortgage bonds, The said county
bonds to the said company, to be used and not 9th
erwisc, In the construction aud purchase OF materi
ala for the railroad to be constructed within th'
limits Of the said county OF Butte.
sEc. 4 The Chairman OF the Board oil Supervi
sors at the time the delivery of said county bond
to said company, shall take the receipt OF sai'
company, through its proper eficers stating tn
date, number, amount, To whom and where payable
of each bond which receipt ne shalt cause to be en-
tered upon the records OF said Board OF supervisors
at regular meeting thercofi and the Chairman o
the Board Of Supervisors shali deliver the sail hs
mortgage ,nds of saii company, upon the re ceiP
of the same to the Couaty Treasurer to b, by hin
and his successors in office safely kept: and the ss
a. FF1t
for said mortgage bonds, which receipt shall stat
the date, number arpQYnt, to whom aud where pay
able, of each bond, An | sid chairman shalt cAnS
ksaid receipt to be spread upon the records OF st
Board at the ne 1t rexnlar meeting thereof; wliic
, mortgage bonds, by virtue of this law. h,ll hol
said railroad conptny ani all the corporate prop
, erty thereof as security for the payment OF tn
same IN preference TO any other and all other in
cumbrapees that may have ar en- against said com
pany ,nd its property, subseqent to The time tina
the said Board Of Supervisors agreed 70 issue sal
bonds as evidenced by the fest original eptry in re
[ lation thereto in it, recorfs.
sac g. 1t halt be the duty Of the Board Of Su
/, pervisors of said county. aud they are hereby AT
thorixed and empow srei to levy yearly tax, to
STYLED Interest Man. ON the assessed property q
said eopnty sufficient tn pay.the yearl' interest o
said coputy bonds not exceeding eighty cents on tn
20 hundred dollars tbe sane TO be assessed aud coce
ed at the same time apd in the same Tapner as ti
. other properly tax is assessed and collected. An
the Treasurer OF said county shall place TO that un
: tho interest that may be paid over To him on til
said mortgage bonds, and the said treasurer sha
pay, to he paid out of said fund the int
sst on said county bones as it fall due api fhoul
U there be sprpp after the payment OF said inte
!. est, the same shall be set apart asa sinking fuo
q for tho redemption OF said bouds, ani when II
e same shalt amount to two or more thousand dola
the Treasurer shall apply the sane to the pursha
same does not exceed the par value; upon advert
sing for twenty days, IN some Newspaper pqolishe
u In his county for bids.
Sac o. The Board of Supervisors of said count
are hereby authorized and empowered in behalf
the county to enforce the pay neptot said mortgaI
- bonds, by stit IL default is made in the payment
70 the same at tue tipe of maturity, And tbey ma
- soil and transfer without recourse. said mortgai
bonds 10 the holders of the said county bonds dc
lar for dollar, or they may sell and transfer u
sarne without recourse to any other parties for vail
receiv~i, aeptr value Al money reAlizci out
(, said mortgage bonds shall he an invioable fn ID {
!. tho redemption of the county bonds, and the ba
: ance, If any. shall bs paid over into the gener
- county faGd. for county purposes.
h SRu 7, The Board of Sapo yisors 10 ani Tor y :
a county'sre authorized aud empowered, and It
" hereby made their duty to cause to be issued eou
y ty bonds to the amount Of the further sum of thr
thousand dollars in depominat ns OF enc, thre
y and five hundred dollars, and ia denominations
one, two, and three thousand dollars In all not
A exceed the foregoing OF thirty thousand dolla
!, of which sum two thousand dollars of said bonds
: 10 nnch theresfas Tsy DO necessary shall be .
pended. under the supervision OF the Bosrd OF
forbsstcwn In said eoanty; aud the balance of sa
thirty thousand shall bo expended as hereinaft
provideS Rff II t# t#k 8'& Z E
sKc The bonds shall draw ten per cent. p
annum. they shall be consaoutively nu nbered
:. issued. One half Of said bonds shall be made pa
4 able on the frst day of January In tho year LIST
n and the ether half shalt ba made payable ON Il
4 sst day ofJsnnary lsas, At the office of the cona
- treasurer of said county orat the city of New To-
= at the option Of the holder In the orisr In Whit
"a they are numbered. aud shall be made payable
tho person TO whom first issued or his order. III
interest shalt be paid semi-aunpeliy on the FIRST d
a OF January and July In each year The bonds sha
be signed by the Chairman OF the Hoard OF Super,
"a sors the County Auftar. aod at the same they a
issued shall be countersignei by the County cler
"A aud attested by tho seal OF the cnunty O"urt OF sa
county Coupons for the iuterest shall be attach'
= to each cf said beads, SO that they may be remqs
without Injury or muttiah0n TO the bond. aud q
- livered to the Treasurer as voucher TOR the pa
mont ofthr ssrps. They shsi be eorseeuise
ls uuobervd and signed by the chsir,mas ofthe Boa
Of Supervisors, and by the Copnty Auditor III
lA...a. ali a rnnnri hf saii hn