The daily Butte record., 1858-05-28
AN ACT

Tor an amount not TO ekccsl Two ""N lin
thirty thousand dollars, 20 be expended 10 con no
structinz Rsiroad and Wagon Roads in SAID r. r.
eouh o y ana u pro''ae ior 'he P'f'"e"' " p
The People Of the state Of Caforaid rsprsseHsI - h
~ srsate md Iss-n1bly, do eHact as foiors A.
SECTION l. The Board Of supervisor. ~ am .n
the county OF Butte, are hers5y aothori set ana 40
empowered at their discretn, b issue the oonds ~
of the coouty cf Butte as loan for the parpose be-
of constructing railroad within its limits 70 the A.
extent Of two hundred tbouSand dollars to the =, w
Feather river Railroad Coz pany, shoui company .
by that name be incorporated. or To any "'.e.
company now, that may hereafter no lhcotPp'aVe
Whereby n connection may be formed by means OF =,
a railroad between Oroville and tide water by way -
Of Sacramento or otherwise. i =.
sKc 2 Whenever the Board Of Supervisors OF y
said county, shalt agree 10 issue the bonds "i sad
county as loan to any incorporated eomPspy io h
the purposes mentioned in the hfst SECTION ann
whenever said company shall by and through its :
proper and constituted authority, agree to receive
said loan, and to give therefor its hr't mortgage
bonds whereby the said railroad company and All ,
the corporats property thereof shall be held as S-
curiy for the pay ment OF said first portgage ,onds
and the interest thereon to said county The Bohrh
Of Supervisors in that event. at any regular meeting
thereof shall by order entered upon us fec",ns
declare its 'ssent to such loan, the amount IN whA
amounts, TO what company and where each amount
IL to be paid Upon tho entry OF such order the
Chairman Of the Board Of super visorS, the County
Treasurer, and the County Auditor, shall as soon
thereafter as practicable have prepared county
bonds, corresponding in amount, number place OF
payment, and to whom payable, a designated oy
said Board; provided. that bri shall be issued
for an amoin. exceeding five Thousand dollar. The
bond. shall draw interest at the rate of eight per
ceut per annum and shall be made payabls Al tne
Office OF the County Treasurer OF said county or IN
h the city of San Francisco, or In the city OF New
York at the option OF said company. on or before
tue hr. day of January, 8'9 the interest arising
- said bonds shall bs iue ami payaht. sen ammo
N ally on the first day of January AMI July IN each
year, aud shall be due and payable at the same tha
e the bonds are. Coupons for the interest shall be
attached To each bond that when paid. they may
ID be removed without muulation to the bonds, aud
J. delivered to the County Treasurer to bs by him
T. kept AS voucher for the payment OF the same
v SwC The bonds and their coupons shall be con-
IN secutivcly numbered. signed by the chairman oil
the Board Of Supervisors the County TSeas,Ser AMI
OF Comfy Auditor; and when 20 signed shall b" de'
- cred to the Board OF Supervisors, at some regular
so meeting thereof who shall cause the County Clerk
nd of ssii county, in their presence, to countersgn
he said bonds and TO afhx thereto the seal Of the
in County Court and such attestaton shall be entered
the records of said board giving the date the
in number, the aupont when payable ant TO whom OF
IN each bdni, when s.h bonds shall have been thu.
N executed ani the said company shall have issued
ny and delivered in due form of law to the Board al
Supervisors of said county, their FIRST mortgage
huuds, bearing interest, payable scmi-annualiy, on
the 6rst day OF June and December of each year
after the first Ave years. at tho Iate OF eight pei
cent. pur annum, from the tate of said bnntS aud
corresponding in anout with said county bombs
and maze payable on the BrSt day Of November
1873. to the county of Butte or her order, at thu
Office Of the county treasurer of said county. 1t
ED that event and not otheTwse the Chairman ot th
.ka Board OF Supervisors shail dever, consIera
,in ton for said FIRST mortgage bonds the said count
me bonds to the said company t. he used and not 9th
md erwse in tho construction aud purchase ot naterl
rty ais for the rlrrah NJ Ike conNtructel within TIA
her limits OF the said county OF Butte.
X SIC The Chairman of the Board OF Suteryi
sors at the time Of the delivery of said county bond
tho to said company, shall take the receipt of SAT-
OF company through its proper eticers stating III
'ed, date. number amount to whom and where piyshi
de- of each bond which receipt no shall cause to be on
,ce tered upon the records OF said Board of SupervSor
yer, at regular meeting thereof; and the Chairman
of the hAri Of supervisors shall deliver the sal r'
at mortgage bonds of sail eninany, upon the reee
of the to the County Treasurer tn b. by hir
aud his In Office safely kept and the sal
Treasurer shall give his receipt to said Charmar
oi for sal mortgage bonds, which receipt shall stat
the date, number amount, to whom and where pay
the able, Of each bond and said charmln shalt eau1
tain said receipt to he spread upon the record. of al
for Board at the next regular meeting thereof whic
the mortgage bonds by virtue of this law. shSl hol
said railroad company and all the corporate proI
erty thereof security for tho payment OF tn
same, In preference to any other and all other II
- cumbrinc>~ that may have sri enaglinst said cou
pany and its perty, sub'eIent tn the time th'
the said Board of Supervisors agreed to issue sal
bonds a. evidenced by the first original entry IN r.
50 laton thereto in itS records
SEc. S. II hall he the duty Of the Board OF ),
u pervisors of said county. AMI they are hereby al
4 thori.ed ami empowered to levy yearly tax. to
styled interest tax on the assessed property
said county sufficient to pay the yearly interest q
said county bonds not exceeding eighty cents on II
hundred dollars the to be assessed and collec
A.. cd at the same time and in the manner a. I'll
~, other property tax - assessed and collected An
the Treasurer of said county shall place To that fur
ded NV WV 'uer.'' .n.s ma! oe W "n'n W" ~ =,
'erk Ps', w eN''' w w t,' ~ :, " . m i' w - =, ~
there be n surplus after the payment of said ine
est, the same shall be set apart asa sinking fur
for the redemption of said bonds, aud when Il
same shall amount to two or more thousand dolls
the Treas irer shall Apply the same to the purcha
or, of ,it h,nd. nom the owes, bidder; proyiied ii
aver same does not exceed the par value; upon advert
,rles sng fr twenty davs IN some newsp,psr pu
= " In his county for bids
,ien, sgc G The Board of Super vsors of said coun
red are hereby authorized and empowered in behalf
.ne the county 10 eaforce the pay nsn OF said morgs
the bonds by suit IL default is made in the payment
" OF the same at the time Of maturity, Aud they M
%. "a soil and transfer without recourse. SAID mortga
hh bonds g. the holders Of the said county bouis '
the lar for dollar or they NAV sell and trap Sfer
ms same without recourse TO any other parties hr val
h,s received At par value All money realized out
OUT said mortgage bonds shall he an nviosble f ID
hsm the redemption of tito county bonds, aui the b.
,loo auee IL any. shall be paid into the geneI
'ure- county fund for county purposes
ring SKo :. The Board of Supe yisors in aud for d
o! county are apthotised aud empowered, and 1t
u hereby made their duty TO- cau.e to be ISSUED cou
fes bonds to the amount OF the further Of thiT
lie TO thousand dollars in denomuat ms of one, thr
sory aud ave hundred dollars and In denominations
one two, and three thousand collars in all not
our exceed the foregoing OF thirty THOUSAND III
oos of which sum two thousand dollars Of said bonds
sa1 upch thereof as may hc gs1esssry, shall be
ppv pended. under the snpervsiou OF ths board of
p,rvisors in improving the road from oroville
Fobestown, In said county aud tha balance of -
''t' thirty thousand shall be expended as hereinaf
y .ns y" provided
-
,t annum: they shall be eonsscutivcly nu hered
an issued. One half OF said bonds shall he male p'
able on the hrst day Of January ia ths year Is
and the other halt shall be made payable on
hrst day efJsnaary 1853, at the Office Oft coui
treasurer of said county. or at ;he city Of New W
,ors ,hsv are numbered AMI shall be made payable
DER the person to whsm arst issued, or order
ge in interest shall be paid semaanuaiy on The rst
as oi OF January and July IN each year rue e9nhs IN
the be signed by the Chairman otths Board OF super
ioner the County Auf tor aud Al the sAme they
Iousa issued shall be ccuutsrsigned by the County Cte
ipur, and attesed by the seal u! the ogqy VoVrto'
I.xA "a mi II