The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1866-11-24
An Act.
10 aid in the construction of the Oregon
Central Railroad

bly ofs the Stufc Of Oregon:
Section |. That whenever the Oregon
Central Railroad Company shall have
completed the first twenty miles of their
said road, and shall have received from
the President Of the United States pat
ent for the land granted by Congress for
such completed section, they may exhihit
the said patent to the Secretary and Trea
surer Of this State, and present to them
two hundred bonds Of the said company,
of the denomination Of one thousand dol
lars each, duly executed, payable in TWEEN.
ty years from the first day of january or
July, the next ensuing, with coupons at
tached for the payment By the State Trea.
surer of half yearly interest on the said
bonds at the rate of seven per cent, per
+annum, and the Secretary and treasurer
shall each make an entry in books to be
kept IN their respective Offices, Of the
number and denomination of the said
series of bonds, and their date and time
of maturity, and of the number of coupons
attached to each, and their denomination
and amount, and the times when the first
and last of such coupons will mature, and
thereupon the Treasurer shall sign the
said coupons aud deliver the bonds to the
company, and the company shall pay to
the Treasurer one dallar ior each bond
whose coupons are SO signed by him.
And whenever another like section of
twenty miles of the road shall be compile
ted. and the patent for its quota Of land
shall be SO exhibited, the Treasurer shall
sign the coupons attached to another Sc
ries of two hundred similar bonds, to be
SO presented and recorded, and so from
| time to time as the road shall be complet-
/ ed, by ike sections. and the land patent
for each section exhibited the Treasurer
shall sign the coupons ola Ike number
of similar bonds, until the whole number
upon which the State has thus undertaken
to pay interest, shall be one thousand
bonds of the aggregate nominal value of
). one million of dollars, aud the faith of the
State is pledged to the payment of the
said coupons as they mature, but the
State will not pay any of the principal of
the said bonds.
Section 2 Whenever the Treasurer
shall have signed any such coupons he
lshall with the assistance of the Secretary.
make an estimate on the rate Of tax, il any
which it will be necessary to levy annual
ly on the assessed value eff the taxable
property in the State, in addition to 9th
er available funds to redeem the coupons
that will mature up to and including the
half years interest that will fall due next
after the commencement of the nezt ses-
sion of the Legislative Assembly. And
the Secretary and Treasurer shall certify
to the Governor the rate of taxation so
found to be necessary. And the Cover
nor shall issue his proclamation directing
the County Courts to levy the same in
addition to all other taxes. And the
County Courts shall levy the same accor-
Idingly, and the money thence arising
shall be applied to that object and no
other. so long as any Of the said coupons
shall remain unpaid.
See. 5. At the expiration one year
from the maturity of the last of said cou-
pons the company shall refund to the
Statessall the moneys paid by the State
for interest on all the said one thousand
bonds. aud the State shall have lien for
the same on the said road with its depots
and all other of It's appurtenances, with
the right of way and the rolling stock
aud all other property, real and persona
of the said company from the passage oil
this act until such repayment shall be full
jly made and completed, which lien shal
have priority over all other indebtedness:
of the company, and may be enforced a:
a mortgage or as hereinafter provided
! And the company shall at all times trans
port free of charge all persons aud prep
erty which otherwise would be conveyed
at the expenses Of the State; and all tn,
F articles on their way to the Fairs of tn,
State Agricultural Society for exhibition
and on their return, and the company
shall at all times transmit by their tele
graph free of charge, all dispatches to ant
from the officers of the State, whith 9th
erwise would be transmitted at the ex
pense of the State. And if the Compa
: ny shall procure any coupons to be sign
ed by the Treasurer, they shall be deem
ed to have accepted all the conditions anC
and provisions Of this act ut the time o
its passage.
Sec. /. If the company shall not com
) plete one twenty miles section Of the roat
before the expiration of the year 1868, o.
shall not complete two such sections il
each year and every year thereafter unit
the whole shall be completed to the Stat
r of California, or to a junction with th
; California road, the State upon such fail
, ure, may by act of the Legislative Assem-
bly,, transfer all the property, rights anC
franchise upon which the said line oper
ates, to any other company, person or per
sons, in its discretion, and if the compan,
. and the State shall not agree upon TIL
valuation of the property and rights s.
transferred, the Circuit Court upon the pc
tition of either party, and due notice t
1 the other, shall appoint three impartia
r and competent arbitrators to assess tn
value thereof, and the coupons alread
signed shall be set off against such valua
ton, or the State on any such failure ma
/ take possession of such property or ma
t yforeclose such lien, or both at their dis
cretion. And no coupons shall be signej
. by the Treasurer for any section of tn
road which shall not be completed within
the time limited by this act.
An Act.
TO amend an act to provide a Code Q
: criminal procedure, and define crimes an,
their punishment, approved October 10
1864
Section l. Be 1t enacted hy the Legis
: lathe AssemJly cfthc State Of Oregon:-