Brownlow's Knoxville Whig, and rebel ventilator. [volume] (Knoxville, Tenn.) 1863-1866, 1866-02-07
Laws of Tennessee. !
AN ACT to amend an Act 70 establish systenof
Internal Improvements, passed the 18th Of Feb


AN ACT to amend an Act 70 establish systems OF
Internal Improvements, passed the 18th OF Feb
ruary, 1852.
WHEREAS, The Memphis and Ohio Railroad,
the Memphis, GAINESVILLE and Louisville Railroad,
the Edgefeld and Kentucky Railroad, the Manches-
ter and McMinnviile Railroad, the Nashville and
Northwestern Railroad the Mississippi and Tennes-
see Railroad, the East Tennessee and Virginia Rail-
road, the Knoxville and Kentucky Railroad, the
Winchester apd Alabama Railroad, and the East
Tennessee and Georgia Railroad are all out of repair
the bridges and tresses said roads have been de-
stroyed, and The Companies are unable to put them
m running order, and the State has large interest
in said roads, and it is to the interest of the State
and che people of the State that the said roads
should remain under their control, and that they
should be put in running order; therefore,
SEC. /. Be it enacted By The General Assembly of
the State of Tennessee, That the Governor of the
| State be authorised and instructed to issue the
bonds of the State bearing six per cent. interest
with coupons attached similar in character 10 every
respect to the bonds issued under the act this is in
tended to amend, and maturing hereinafter pro-
vided, in the following amounts to the following
Railroad Companies or receivers of such roads
appointed by the Governor under the laws of this
| State to-wit:
| To the Memphis and Ohio Railroad Company,
| 100000; to the Memphis GAINESVILLE and Louis
Vile Railroad Company, 100000; to the Edgefeid
| and Kentucky Railroad Company, $4,000; to the
Manchester and McMinnville Railroad Company,
| S249.0ee; to the Nashville and Northwestern Rad
road Company 100000; to the Mississippi and
Tennessee Railroad Company, $5O.00o;- to the East
| Tennessee and Virginia Railroad Company, $780,
600; to the Knoxville and Kentucky Railroad Com
psny, S25o,O0O; to the Winchester and Alabama
Railroad Company, $372, 900; to the East Ten nes-
see and Georgia Railroad Company, 100000; 30 the
Mississippi Central Railroad Company, $4,000
TO the Memphis and Charleston Railroad, $500, 900
and to RogersVille and Jefferson Railroad $780, 600
| which bonds shall bear date January 1st 1856
and be payable the first of January 1892.
Sec .. Be 1t further enaoted That the said bonds
shall, in event be sold exchanged at less than
| their par value.
SEo. 8. Be It further enacted That the proceeds
of said bonds shall alone be used in building the
bridges and repairing said roads, and putting them
in running order.
Sec. 4. Be it further enacted, That each of said
Railroads TO which relief is granted by this act
shall pay 10 the Treasurer Of Che State, sinking
fund, four per cent. the amount of its indebted
ness under this act, as also the interest on said
bonds The sinking fund to commence the first Of
January 1867, which shall constitute fund for the
payment of the bonds granted by this act to said
roads, and the said payment shall be made on the
first of January of each and every year, and the
State hereby reserves lien On all the profits Of said
roads for the money hereby advanced for the re-
pairing of the same which the State shall have the
right TO enforce if the said companies should fail to
pay the four per cent. and interest as provided by
this act, and which shall be enforced as now pro-
vided by law in the Internal Improvement act OF
this State, and which this act is intended TO amend
SEC. g. Be it further enacted That bonds to the
amount Of one hundred and twenty-five thousand
dollars be issued to the Nashville and Chattanooga
Railroad Company, for the completion of the
branch road from Bridgeport, Alabama, to Jasper
Tennessee-upon the same terms as provided by
the foregoing act.
SEC. 6. Be 1t further enacted, That the term Of
ten years be extended to all railroad companies
chartered and organized in this State, to complete
their roads, and the said roads shall have all the
privileges and immunities guaranteed by their res
pective charters, and the internal improvement
laws of this State
/ SEC. T. Be it further enacted, That the sum OF
SIS, 900 be- and the same IS hereby appropriated tc
the Southern Central railroad, for the purpose Of
assisting in paying for their bridge
Sec. 8. Be 1t further enacted, That the lien re-
tanned declared in the fourth section of this act
is hereby declared cumulative Of and in addition tc
the lien declared in the act of 1882 which this is
intended TO amend, which lien is hereby declared
to extend to and cover the money or bonds to be
advanced TO said roads under this act.
SEC. o. Be 1t further enacted, That this act shall
take effect from and after its passage
Passed January 18th, 1856
| WIN. HEISKELL,
Speaker of the House of Representatives
| JOSHUA 5. FRIERSON,
| Speaker of the Senate
A copy from the original enrolled act ON file il
nv Office. A. J. FLETCHER.
Secretary of State