The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1863-11-13
Lake Superior and Mississippi
Railroad.

The following preamble and resolutions
for the issuance of city bonds to the
amount of half million of dollars to the
Lake Superior and Mississippi Railroad
Company, were yesterday introduced in
the City Council, and were referred to
special committee consisting of Aldermen
PAINE, LIVINGSTON, KING, GROSS, WRIGHT
and the Mayor.
Whereas, 1t is obviously the interest of the
citizens of the city of St. Paul, that railroad
direct from said city to Lake Superior, should
be constructed through this State as specially
as practicable; and
Whereas, The completion of such road would
not only be great ben, fit to the State at large
but would be an especial advantage to said city,
by reason of the increase Of trade and the en-
hancement of the value of the taxable prop
erty therein; and
Whereas, The Lake Superior and Mississippi
Railroad Company, is the only railroad com.
pany in this State required or authorized to
construct such railroad aforesaid and as said
company has made preliminary surveys of the
line of its said road, and has received from the
State liberal grant of swamp lands to aid in
the construction Of the same; therefore
BE 1t resolced, by the Common Council of the
City of Saint Paul, That this city will issue to
The Lake Superior and Mississippi Railroad
Company, the bonds of said city, with couL ons
attached, payable in the City of New York. to
the amount of Five Hundred Thousand Dol
lars, in sums of five hundred and one thousand
dollars each, redeemable as follows: one hum
dred and fifty thousand dollars in twenty, one
hundred and fifty thousand dollars in twenty
five, and two hundred thousand dollars in
thirty years from the date thereof, bearing in
terest, payable semi annually, at the rate of
six per cent. per annum as Il bonus to insure
the building of said road, in as nearly direct
line from Saint Paul to Lake Superior as prac-
ticable, keeping the genenal line within the
limits of the State of Minnesota, said practical
BILE line to be fixed by the Engineer of said
company; said bonds to be issued to said rail-
road company upon the completion of said
railroad, with cars running thereon, from Saint
Paul to Lake Superior; Provided That said
railroad shall be commenced by the first day of
July, 1864, and shall he completed within five
years thereafter; and Provided further, That
the proper authority from the Legislature of
this State shall be granted in this behalf; and
it Is further Provided That this resolution shall
not be operative nor 60 into effect until the
same shall be ratified by vote of the qualified
electors of said city, in manner following to wit:
That on the day of 1868 special
election shall be held in said city, to be con-
Quoted by the same officers and in the same
manner required by law in the election for city
officers of said city; and at said election those
qualified electors desiring to vote in favor of
said resolution shall vote by ballot with the
words written or printed thereon, For Rail
road from Saint Paul to Lake Superior" and
those desiring to vote against such resolution,
by ballot with the words written or printed
thereon, Against Railroad from Saint Paul
to Lake Superior; that the returns of said cleo
ton shall be made and canvassed in like man
ner as the returns for elections of officers
of said city; and upon the same being con-
frmed by the Common Council. and il APP
pearing that majority of the votes were in
favor of such resolution, and the proper Legis-
lative authority being obtained, the said rcso-
luton shall then go into effect and the faith of
said city stand pledged for the fulillment
thereof