The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1858-04-10

posing an amendment Section ten Article nine of
the ~ ass ana providing for the submission of
Be 1t enacted By tie Lsgislasure of the Stass of Mn
aes0tG: =. -" - - -
SECTION !. me following amendment to the Consti-
tuition OF this State is hereby proposed for
with Section Of Article IA of the Consuton that is
to say, that Section 10 of Article of the Contributor
shall be IS follows:
SEC. TO- The credit Of this State sba never he tven
or loaned In aid Of any individual association or corpo-
ration except that for the purpose expedting the con-
structon OF the lines of railroads in ali Of Which the
Congress of the United States has granted t The
Territory of Minnesota the Governor shall IN he
issued and delivered to each of the companies in which
sad grants are vested by the Legislative Assembly OF
Minnesota the special bonds Of the State bearing An
interest OF seven per cent annum, payable semi
it, to amount exceeding twelve hundred and
thousand dollars; or an aggregate to all Of said
companies not exceeding five millions of dollars, in man
ner following to wit:
Whenever ether Of the said companies shall produce
to the Governor satisfactory evidence verified by the
ahdavs OF the Chief Engineer Treasurer, and Di-
rectors OF said Company that ten miles of the road
of said company has been actually constructed and COM
peted, ready for placing the superstrucr the
Governor shall cause to be issued and delivered to such
company onds to the amount of hundred thousand
dollars and whenever thereafter and often as either
of said companies shall produce the Governor like ey
idence of further construction Of ten miles of its road
aforesaid then the Governor sha be issued
to such company further like bonds to the amount of
hundred thousand dollars for each and every ten
miles Of road thus constructed and whenever such COM
pany shall furnish like evidence that any ten miles its
road is actually completed, and running thereon
the Governor shall to be issued to such company
like bonds to the amount of hundred thousand dol
lars and whenever thereafter and often either of
said companies shall produce to the Governor like evil
dence that any further ten miles of said road Is in
ration aforesaid the Governor shall cause to be ssu
ed to such company further like bonds to the
hundred Thousand dollars until the full amount of
bonds hereby authorized shall be issued; Provided
That twofths and of all bonds issued to the
Southern Minnesota Railroad Company shall be expen-
in and Of 81,
road from La Crescent to the point of junction with the
Transit road provided by law and further provided
shall commence the construction Of their road
ibault and Minneapolis, and shall grade equal num-
Der of miles from each of said places.
The said bonds thus issued shall be denomnated NIn-
nesoa State Railroad Bonds and faith and credit
of this State hereby pledged for the payment of the
interest and the redemption of the principal thereof
They shall be signed by the Governor countersigned
and registered by the Treasurer sealed with the seal of
State of denominations not exceeding thousand
dollars, payable to the order of the company whom
issued, transferable by the endorsement of the Pres
dent Of the said company, and redeemable at any time
after ten and before the expiration of years
ernor shall proclaim that the people have voted for
loan of State credit to railroads. any of said companies
proposing avail themselves of the loan herein proy
ded for, and to accept the con of the same shall
notify the Governor thereof and shall within sixty days
commence the construction of their roads, and shall
within two thereafter construct ready for the
perstrucure, at least fifty (50) miles of their road
Each company shall make provision for the punctual
and redemption OF all bonds
ered aforesaid to said company and for the punctu-
al payment of the interest which shall thereon
in such manner as to exonerate the Treasury Of this
State from any advances of money for that purpose
and security therefor the Governor demand and
receive from each of said companies before any of said
bonds issued instrument pedgng the net profits
of its road for the payment of said interest," and
veyance the State of the first two hundred forty
sections of land free from prior membranes, which
the security of the Treasury the State from
said bonds, which said deed of shall authorize
the Governor and Secretary of state make
Of title TO all any Of such lands to purchasers
agreeing with the respective railroad companies there
for Provided That before releasing the of the
State to such lands. such sale shall be approved by the
Governor but the proceeds of all such sales shall be ap-
piled to the payment of interest accruing upon the bonds
in of default of the payment of the same,
sinking fund to meet any future default in the payment
of interest and the principal thereof when due and
further security amount of first mortgage bonds on
the roads, lands and franchises Of the respective
panes corresponding to the State issued shall
transferred the Treasurer of the State, the
the issue of State bonds and in either of
panes shall make default in payment of either the
principal of the bonds issued to said companies
by the Governor more State bonds shall thereafter
be issued said company and the Governor shall pro
coed in such manner may be prescribed by law t,
sell the bonds of the defautng company companies
the lands held in trust above, may require fore
closure Of the mortgage executed to the
Provided, That If any company In default before tn
day of sale shall pay all interest and principal then due
and all expenses incurred by the State sale TAX
place, ard the right of such company shall not be i'm
paired tc further loan of State credit. Provided
any of said companies shall at any time offer pay tn
principal, together with the interest that may then b.
due upon any of the Minnesota State Railroad bonds
which may have been issued under the provisions of th
section, then the Treasurer of State shall receive thu
same and the liabilities of said company companies
in respect to sad bonds, shall upon such payment
into the State Treasury of principal, together with
interest, aforesaid Provided further, That in con-
sderatiOn Of the loan of State credit herein provided
that the company companies which may accept the
bonds of the State in the herein specified shall
condition thereof each complete not less than fifty
miles IF ito hafor Of
1861, and not less than hundred miles before the
year 1864 and complete ourths of the entire length
of its road before the year 1866 and any failure the
part of any such company to complete the number OF
miles of its road roads, in the and within the
several times herein prescribed shall forfeit the State
all the rights, title and interest," of any kind whatsoever
in and tn any lands, together with the franchises
ted with the same not pertaining applicable to the
portion of the road by them constructed and fee sim.
pie to which has not accrued to either of said COM
panies by of such which
ed to the company or companies thus falling to comply
with the provisions hereof by act Of the Legislature
the Territory of Minnesota vesng said land in said
companies respectively.
SEC 2. The foregoing amendment shall be submitted
to the electors of the State, at election to be held
the 18th day of April thousand eight hundred and
yeigh the several election districts this State
The ballots at such election shall be written or printed
follows those in favor of the amendment "Loan of
State Credit for RELATIONSHIPS " Those against the
amendment, Loan of State Credit for Railroads.&c."
The polls at said election shall be opened between the
hours of eight and ten o'clock A. NJ closed at six
O'Clock F. NJ, and the said election shall be conducted
and the returns thereof made and certified in the
provided by law for returning votes for Territorial
Delegate to Congress- except that the said shall
be addressed to the Governor, by whom the shall
be canvassed within twenty days after said election
and If it she'll appear that majority of voters present
and voting at said election have ratified proposed
amencmc + the Governor shall incorporate the forego-
ing amendment IN the Constitution, and shall make proc
lar alton the result, and deposit the election returns
| in the office of the Secretary of State.
Sec. 3. Besides the publication prescribed by exist
ing laws this Act is hereby directed to be published all
the newspapers of this State for which publication the
rate Of compensation hereby fixed as for similar
insertions N the official paper of the Legislature.
Sec. a. Tbs Act shall take effect from and after its
| passage. GEORGE BRADLEY,
Speaker tenn. of the House of Representatives.
RICHARD G. MURPHY,
President pro tenn. of the Senate.
Approved March Q, 1858.
CHAs. L. CHASE, Acting Governor
SEcRETARy's OFFICE, Minnesota,
March 9, 1858.
hereby fifty the foregoing to be true copy Of the
original on file in this office,
nar16d tie. CHAs. L. CHASE, Secretary.