Brownlow's Knoxville Whig, and rebel ventilator. [volume] (Knoxville, Tenn.) 1863-1866, 1865-11-15
THE KNOXVILLE WHIG
Knoxville, Tenn, November IS, 1865.
Railroad Bill,

i new BIZ 10 amend the Railroad Act Of 1882
drawn up in accordance with the Governors late
special message Is now before the Legislature bav-
ing been presented by the Joint Committee of the
two Houses. The following is the bill:
SECTION I. Be Il c1lactcd by the GsncraL Assembly
Uf the State Of Tennessee That the Act aforesaid be
so amended that the Governor of this State be au-
thorzed and instructed to issue the 81 coupon bonds
Of the State similar in character in every respect TO
the bonds issued under the Act that this is intended
70 amend, and maturing al the same time TO amount
sufficient 10 pay of all the interest past due as well
as that to fall due January lst 1866, on all bonds
heretofore issued or indorsed by the State that
issued or indorsed previous to the socaed act Of
cessoD, passed the 9th day Of May, 1861.
SEC ?. Be Il enacted That said bonds shall be
dated the lst day of January 1866, and be payable
on the lst day of January, 1892.
SEC ). Be Il enacted, That said bonds shall, in no
event. be Sold exchanged negotiated, at less than
their par value but they may be exchanged for the
interest coupon bonds, hereby provided to be paid
estimating each at their par value.
SEC. 4. BE Il enacted, That the amount of interest
now due, or that may become due by January st
1866 by any railroad company to the State on bonds
issued TO or indorsed for said company, shall be
charged up 10 said company on the same terms and
conditions Of the original loan under the law this is
intended to amend, and the State shall have the
liens upon each of said roads their franchise and
properly for the prompt and faithful payment of the
principal and interest Of the bonds hereby authori
1ed 10 be issued 10 pay the interest on the bonds said
company should have paid interest on, or II has un-
Ger the law this is intended TO amend for the bonds
issued under said law.
SEC. ;. Be Il enacted That the several Railroad
Companies, receiving aid under this Act, shall pay
the interest said bonds il natures in the same
manner and under the same rules, regulations and
restrictions, as they required TO pay the
bond issued indorsed for them under the Act this
is intended 10 amend, concerning the payment of
said interest on the 18th day Of June 1866.
SEC. {. Be L enacted That the law now requiring
all Railroad Companies in this State to pay into the
Treasury . per cent. per Gnnum q sinking fund
the amount of their Indebtedness TO the State be-
and the same is hereby suspendended until January
Ist, 1861 and said companies are relieved from the
payment Of the sinking fund now past due under
said law.
SEC :. Be Z enacted, That each and every Rail
road Company in this State, who have may
geve aid under this Act, the Act that this is in
tended % amend, or any amendment thereto, shall
pay 10 the Treasurer of the State dnring the year
1861 four per cent on the amount of its indebted
ness TO the State a sinking fund said debt, 20
be paid in the bonds of the State of like character
TO those issued or indOrsed for said company. with
the coupons the same that have not matured said
payments 20 be made semi-annually on the lst of
April and October, and like amount every year
thereafter until the whole Of their Indebtedness is
discharged
SEC S. Be- Il enacted, That the Governor of the
State shall, through the proper State officers, by
Dlmeel or through SuCn OJner agent or agents ne
may appoint for the purpose, have the bonds hereby
provided 10 be issued negotiated and the proceeds
Of the applied TO the payment Of the interest
now due, or TO fall due, January Ist 1866, on all
bonds issued or indoTsed by the State, hereinbe-
fore provided exchange said bonds with the hold
CTS of said coupons so as TO pay of and Equidate
ssid interest.
SEC .. Be IL further enacted, That the expenses
Of issuing and negotiating said bonds shall be paid
out Of any money now in the Treasury not other
wise appropriated, and the same be collected from
the Railroad Companies inpropOrtion to the amount
issued for the benefit of said companies, pro rata.
ESEJ. IG. Be IL enacted That any railroad company,
receiving aid under this Act, the Act this is in
tended TO amend, or any amendment thereto, who
shall discriminate in their freight passenger tar
if against the business of any CITY, town or place in
this State carry freghts lower in one direction
than in another, refuse TO give the citizens of this
State equal facilities for transporting their reght
FROM with the citizens Of any other State, whether
not, shall on conviction, be fined il the sum Of
not less than hundred dollars nor over one thou
sand dollars, for each and every ofense the to
be collected other fines and fOrfeitures are collect
Cd onehaf Of same TO go to the State and the other
half 10 the party aggrieved.
SEC II. Be Il enacted, That when the principal
officers Of the company do not reside in and have
apcrmanent Office in this State it shall be competent
and lawful to serve notice any agent Of said COM
panv who does not reside in the State, in any suit
brought under the provisions Of the 10th section of
this Act