New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-16
TPUBLIC RESoLUT1oN-No. AL

PUBLIC RESOLUTION A.
A resolution authorizing the Northern Pa
cifc Railroad Company to issue its bonds
for the construction Of its road, and to
secure the same by mortgage, and for
other purposes.
Resolved, By the Senate and House
of Representatives of the United States of
America in Congress assembled, That the
Northern Pacific Railroad Company be,
aud hereby is, authorized to issue its
bonds to aid in the construction and equip
ment of its road, and to secure the same by
mortgage on it's property and rights of
property of all kinds and descriptions,
real, personal aud mixed, including its
franchise as corporation; and, as proof
and notice Of its legal execution an efectu-
tual delivery, said mortgage shall be filed
and recorded in the Office Of the Secretary
of the Interior; and also to locate and con.
struct, under the provisions and with the
privileges, grants, and duties provided for
in its act Of Incorporation, its main road
to some point on Puget Sound, via the
valley Of the Columbia river, with the
right to locate and construct its branch
from some convenient point on its main
trunk line across the Cascade Mountains
to Puget Sound; and in the event of there
not being in any State or Territory in
which said main line or branch may be To-
Gated, at the time of the final location
thereof, the amount of lands per mile
granted by Congress to said company,
within the limits prescribed by its charter,
then said company shall be entitled, under
the directions of the Secretary of the In
terror, to receive 50 many sections of land
belonging to the United States, and desig.
mated by odd numbers, in such State or
Territory, within ten miles on each side of
said road beyond the limits prescribed in
said charter, as will make up such de-
fciency, on said main line or branch, ex-
cept mineral and other lands as excepted
in the charter of said company of eighteen
hundred and sixty-four, to the amount of
the lands that have been granted, sold,
occupied by homestead settlers, |
or otherwise disposed of sub
sequent to the passage Of the act of July |
two, eighteen hundred and sixty -four.
And that twenty-five miles of said main |
line between it's western terminus and the |
,ity of Portland, in the State of Oregon,
hall be completed by the first day Of |
January, ammo Domini, eighteen hundred |
md seventy-two, and forty miles of the |
portion thereof each year there
tier, until the whole shall be completed |
between said points: Provided, That all |
ands hereby granted to said company
which shall not be sold or disposed Of or |
emain subject to the mortgage by this
vet authorized, at the expiration Of five
years after the completion of the entire
road, shall be subject to settlement and
pre- emp'ion like other lands at price to
be paid to said company, not exceeding
'wo dollars and fifty cents per acre; and
4 the mortgage hereby authorized shall at
my time be enforced by foreclosure or
'ther legal proceeding, or the mortgaged
ands hereby granted, or any of them, be
'old by the trustees to whom such mort
rage may be executed, either at its ma
urity or for any failure or default of said
company under the terms. thereof. such
ands shall be sold at public sale, at places
within the States and Territories in which
hey shall be situate, after not less than
ixty days previous notice, in single sec
ions or subdivisions thereof, to the h;oh.
st and best bidder: Provided further, That
n the construction of the said railroad
american iron or steel only shall be used.
be same to be manufactured from
american ores exclusively.
Sec. 2. And be it further resolved, That
congress may at any time alter or amend
his joint resolution, having due regard to
} the rights of said company, and any
ther parties.
Apnroyed Nav 81 1870