The Placer herald., 1860-06-02
AN ACT

To enable the county of Placer to subscribe for
stock to the Sacramento. Placer. and Nevada
Railroad; to the Eastern Extension Railroad,
and to assist in constructing certain wagon
roads therein named.
The People Of the State Of California, repre-
sented in Senate and assembly, do enact as
foUo,cs:
SECTION l. The Board of Supervisors of the
county of Placer shall at its first regular meeting
after the passage of this Act, submit to the quail
fed electors OF said county a proposition for said
county to subscribe for one hundred thousand dol
lars of the stock of the Sacramento, Placer and
Nevada Railroad. twenty-five thousand dollars OF
the stock of the East rn Extension Railroads;
twelve thousand five hundred dollars toward the
construction Of wagon road from Secret Springs,
on the divide between the Middle and North Forks
of the American river, in Placer county, to Car
son Valley, and twelve thousand five hundred to-
wards the construction of wagon road from
Dutch Flat in Placer county, to Carson Valley.
SEC. 2. 1t shall be the duty of said Board OF
Supervisors, at its first regular meeting alter the
passage of this act, to cause notice TO be pub
lished in each of the newspapers published IN SAID
county, stating that proposition Will be submit
ted to the qualified electors OF SAID county AT a
time therein named, which shall not be less than
thirty days after the first publication of the same,
for the said county to subscribe ore hundred and
fifty thousand dollars for the purposes specified in
section of this Act
SEC. 3. The time fixed for said election shall
not be at any general election; and said Board of
Supervisors shall appoint Judges and Inspectors
of the same, and it shall be conducted in all res
poets the same as by law, general elections are
conducted: and at the end OF ten days after the
same is held, said Board shall meet and declare
the result; provided the officers of such election
shall receive no pny for such services from the
county.
SEC 4. The ballots cast at said election shall
have written or printed thereon one or more OF
the following propositions: subscription to the
Dutch Flat Road, Yes;'' Subscription to the Sc
cret Spring Road Yes;' Subscription to the Sac
ramento. Plucer and Nevada Railroad, Ics;'
"Subscripton to the Eastern Extension Railroad,
Yes" or shall have written or printed thereon one
or moro of the following propositions; "Snbscrlp-
ton to the Dutch Flat Road MOI" subscription
to the Secret Spring Road. MOI" Subscription to
the Sacramento, Placer and Nevada Railroad,
Mo-" Subscription to the Eastern Extension Rail
road No." In case there shall be IL majority OF
the ballots cast at such election in favor OF sub
scripiion over those cast against subscription.
upoi, any one or more of said propositions, then,
in that event, the Board of Supervisors OF said
county are authorized and directed to take and
subscribe, tor the use and benefit OF SAID county
to the capital tock of either or hoth OF sald rail-
roads should either or both said propositions pre-
vail at said election. the amount or amounts set
forth in ton of this Act, ami TO appropriate
TO the said wagon road or roads the amount or
amounts set forth and indicated in said section
one should either or both the propositions con-
cerning the subscription 10 one OF poth S"iu roa"s
be adopted
SEC s. The subscription for the stocks OF said
railroad companies shall he made by the President
of the Board Of Supervisors upon an order made
bv said Board, and shall be conditioned to pay
the same in the bonds of said county, and for the
same said bonds shall be received at their par
value.
SEC. 6. When said subscription shall have been
made said Board of Supervisors shall, by an order
direct the President of said Board the County
Treasurer md the County Auditor who Tor That
purpose shall constitute "a Board Of Commissioners
10 issue the bonds of said county to said railroad
companies respectively for the amounts subscribed
to the stock thereof, ia sums OF one thousand dol
lars each, which bonds shall be payable in twenty
years from the date of their issuance, aud shall
draw interest at the rate of eight per cent. per
annum, payable sem-annuaiiy at the office of the
Treasrrcr Of said company at San Francisco, or at
New York at the option of the railroad compan-
les respectively; and it shall be the duty OF the
said Board of Supervisors to provide for the pay
ment pnnctnaIy of the interest npon all OF said
bonds issued under and by virtue OF this Act, out
Of tha fund created as hereinafter specihedi pro-
yidea. chat no more iAan fifty thousand dollars OF