Lamoille newsdealer. [volume] (Hyde Park, Vt.) 1860-1877, 1868-02-26
RAIL ROAD.

At meeting of the Railroad Commit
sioners for the town, of Hyde Paik, Nor
ristown, Wolcott and johnson. holden al
Hyde Park on Monday last, and presided
over by Hon. L. II. Noyes, The following
form of instrument Of assent was agreed
upon to be submitted to the freemen Of
the towns through which the Road is &c
pass. The towns off from the direct route
can easily vary it to meet their circum-
stances -
We, the undersigned inhabitants and tax
payers in the town of blank upon the
grand list now 10 force. do hereby give
our assent that said town OF Tblank
may aid in the construction Of the La
noble Valley Rail Road, in the manner
following;
The commissioners hereinafter named
arc to subscribe for blank shares of the
stock of said Rail Road company for aud
in the name of said town; to be paid for
by notes or bonds of said town, equal in
amount to the par value of satd shares Of
stock. Said notes or bonds to be issued
iii denominations of not less than fifty
dollars nor more than one thousand dol
lars each, and to bear interest at the rate
Of blank per ceut specified in semi an.
nual coupons thereto attached. and to be
payable after five years and within twenty
years Of this date said bonds and the in
terest thereon to be payable at the La
noble County National Bank Of Hyde
Park, Vermont. and to be issued unde'
and according to an act of the Legislature
approved Nov, 18th, 1867, eItitled "Au
Act to enable the towns therein named to
aid in the construction of the Lamoillt
Valley Rail Boad"
Said subscription for stock to be made
under the following conditions:
First. None of said stock sh all be paid
for by the issue and delivery Of bonds OF
otherwise until such time as said road i.
constructed to within three miles of the
business centre of said town of Tbank1G
at which time the officers of said town
having authority under said Act, shall
issue and deliver to the party or parties
entitled to receive tho SANG, bonds to the
amount of fifteen per cent. of said towns
subscription for stock
Second. The balance OF said stock. Sc
subscribed for, shall he paid fer by The
issue and delivery of bonds a., aforcsail
when said road is completed to the bust
ness centre Of said town, or as near to
said point as is practicable, and the cars
are running to said point. carrying ras.
sengers ard freights The above fifteen
per cent. shall include the five per cent.
required to be advanced by law.
Third. Whatever interest shall accrue
on any bonds of said town from their date
to the date when said road is in actual
operation to or near to said business c,u.
ter, shall be paid by the corporation, and
not by the town Of [blaukl and said
town shall never be liable to repay the
same to said company or any part there.
Of
Fourth. When the stock so subscribed
for shall have been paid for by the issue
and delivery Of bonds as aforesaid; then
said stock shall not be liable to assess
ment for any purpose or purposes whatev.
er; and said town, by reason of having
subscribed for said stock, or By reason Of
owning the same, shall not ID any way
manner or form be liable for any debt o,
debts of said company, whether existin.
at the time of said subscription for stoel
or contracted thereafter. That is. wber
said town has paid for its stock az afore
said it shall! DO relieved from all turtle,
liability in tho premises. and shall owl
said stock with the same privileges en-.
Ijoyed by other stock owners iu said cor
poration.
And we do hereby constitute and an
point lblankl, resident citizens and tax
payers of said town Of blank1, to ),
commissioners to make and execute in III,
name Of and behalf Of said town the aboy,
named contract aud subscription, aud ia
do oil other things required Of such com
missioners by said act
In testimony whereof we have each
hereunto set our names. the date of sign
ing and the amount Of our several grand
lists, and have acknowledged the same be
foro proper authority. in due form OF Law
and as required by said Enabling Act 4
The time Of signing 4