The Iowa transcript. (Toledo, Tama County, Iowa) 1858-1866, 1860-07-19
LAWS CE'
E GID WV "a =
Ev Authority.
CHAPTER 12.


Dcs NJ dimes and Minnesota Railroad com
pany.
81. Bet enacted BY the General As
sen.b7y Of the State of lo,ra, That it shall
not be lawful for the Keokuk, Fort Des
Moines and Minnesota Rail Road Com
pany to mako any Decd Of trust or mort
gage on their Railroad and franchises
from the city OF keokuk to the city OF
Des Moines other than the existing mort.
gage executed by the said Company to
Luther G. Clark and Samuel r. Curtis,
dated February 16, 1857, except with
the consent in writing first had and OBJ
tanned, of majority in interest of the
holders Of the bonds secured by the said
existing mortgage, such consent to be
acknowledged and recorded in the same
manner as the said mortgage is now re.
corded. And it shal, not be lawful for
said Company to issue their Bonds under
the aforesaid existing mortgage at any
greater rate than fifteen thousand dollars
per mile, and in respect to that portion
Of their Railroad lying between the town
Of Eddyvilie and the city of Des Moines,
it shall not be lawful for said Company,
except with the consent in writing Of
majority Of bondholders in the manner
aforesaid, to issue their Bonds under
said existing mortgage, except as the
track of their Railroad shall have been
prepared, and the rails laid thereon and
affixed thereto, SO that cars can run
thereon, and then only at the aforesaid
rate Of $4,000 ror mile and the trust,
ees under said mortgage shall certify
such Bonds only as may be issued as
herein provided. But nothing herein
contained shall be construed to prevent
said Company from making aaa issuing
such an amount Of construction bonds
as they may deem necessary to provide
for the construction and equipment Of
the said Railroad, or to secure the same
by pledge Of the Bonds issued under,
and secured by tho aforesaid existing
mortgage.
s. In case said existing mortgage or
deed of trust shall be foreclosed, and a
sale Of said road be made by the trust
ee., or by order or decree of Court un-
der said Mortgage, the road, its appur.e.
nances and franchises, shall INN ediate.
~ thereby pass to the purchaser or pur
chasers, who shall be deemed the sue,
cessors to sale Keokuk, Fort Des
Moines and Minnesota Railroad Compa-
ny, and as such shall take, have, enjoy
and exercise all the rights, powers, priv.
ileges and franchises that were possessed
by said Keokuk, Fort Dcs Moines and
Minnesota Railroad Company at the
time of the execution Of such mortgage
or deed Of trust or at the time Of sale
aforesaid.
s3. This act shall take effect when ac-
ccpted by the said Company, by reso-
luton to that effect Of the Board Of Dil
rectors, duly authenticated by the Pres
ident and Secretary, under the corporate
seal of the said Company, and fled in
the Office of Secretary Of State.
"A. This act to be in force from and
after its publication in the Iowa State
Register and Iowa State Journal with
out expense to the State.
JOHN EDWARDS,
Speaker Of tho House Of Representa-
tives.
NICHOLAS j. RUscH,
President Of the Senate.
Approved February 10th, 1860.
SAMUEL j. kIRKWOOD.
I hereby certify that the foregoing is
: true copy from the original roll on file
in my Office.
ELIJAH SELLS,
Secretary Of State.
CHAPTER 43.
..-..1aA. 49, 80