The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1870-12-02
LAWS OF OREGON.
an ACT to appropriate funds for the
construction Of Steamboat Canal
ut the Willamette Fa1Ia.

<~AN ASA w HppropTihb6 tuuuS IOf Inc
construction Of o Steamboat Canal
ut the Willamette Falls.
WHEREAS, The Willamette Falls Ca
nal and Lock Company was duly in
corporated under the laws of Oregon,
on the 14th day of September, 1868,
for the purpose Of constructing ca
nal and locks at and on the west side
of the Willamette Falls; and
WHEnEAs, 1t is of great Importance
to the people of Oregon that the OBJ
structions to the free navigation OF the
Willamette River at that place should
be removed. and freights carried on
said river should be cheapened; there
fore fe
Be IL enacted by The Legislatire Asseuably
Of The State Of Oregon:
SECTION l.. That the State of Ore
gon hereby agrees and pledges its
faith to pay the Willamette Falls Ca
nal and Lock Company the sum of
money, in gold coin, as hereinafter set
forth, out Of the funds donated by the
United States TO the State OF Oregon
for the purpose of internal improve
ments. e
SEC. 2. In order to entitle the said
corporation to receive the sum of mon
ey hereby agreed to be paid, it shall
be the duty of said corporation to con-
struct a canal and locks at and on the
west side of the Willamette Falls; the
said lock to be not less than one hun
dred and sixty feet in length, and for
ty feet in width, and to be construct
ed chiefly of stone, cement and iron,
aud otherwise built in q durable and
permanent manner; the said canal and
locks TO be completed on or before the
first day of January, 1873. And after
the completion of the same, the said
corporation shall pass without delay
through the said canal and locks, all
steamboats,, fatboats, barges and 9TH
er water craft, in the order in which
they shall arrive at either terminus of
said canal.
SEC. 3. The State of Oregon agrees
to pay the said sum of money upon
the express condition that the said
corporation, after the completion OF
the said canal and locks, as hereinaf-
ter set forth, shall not charge great
er rate of tolls than fifty cents per
ton for freight, and ten cents q pas
senger, going through said canal and
craft. And at the expiration of twen-
Ity years from the time said canal and
locks are completed, the State of Or
egon shall have the right and priyil.
ege to take and appropriate TO its own
use forever, the said canal and locks,
upon the payment to the said corpor-
alton the actual value thereof at the
time of taking and appropriating the
same. which value shall be ascertained
in such manner as the Legislative As
sembiy of Oregon may hereafter pre-
scribe.
i SEC. 4. Within ninety days after the
Iapproval OF this act, the Willamette
Falls Canal and Lock Company shall
execute and deliver to the Secretary
of State, good and sufficient bond
with sureties, payable to the State oi
Oregon, in the sum of three hundred
thousand dollars, in gold coin of the
j United States, said bonds to be ap.
lproved by the Governor OF this State,
!, conditioned that the said compan,
! shall, on or before The first day oi
!, January, 1873, construct and complete
said canal and locks, in accordance
with the provisions of this act. Upon
| the delivery and approval of said
. bond, the Governor and Secretary oi
State shall issue and deliver to the
said Willamette Falls Canal and Loci
Company, gold bonds of the State o.
Oregon, for the sum of two hundred
thousand dollars, in bonds of fv.
hundred dollars each, payable to sale
Canal and Lock Company, or its lega
assigns, IN ten years or sooner, at thu
option of the State, bearing interes
at the rate of seven per cent. per an
mum, payable semi-annually in gold
Principal and interest of said bond.
!, shall be paid out of the fund arising
from the five per centum of the ne
: proceeds of the sale of the publ,
lands of the United States, lying with
in this State, or out of the fund aris
ing out of the sale of the five hundred
Thousand acres of land donated to tn,
State of Oregon by act of Congress
: IOr the purpose Vi mteTudi Improve
|. ments, and not otherwise, or from
. both of said funds, and not otherwise
SEC. 5. The faith of the State O
! Oregon is hereby pledged SO to ad
minister said funds as to make then
available at the earliest period, for tn,
payment of said bonds by this Ac
authorized to be issued, upon the ex
!, press condition that said corporation
! shall construct said canal and locks il
! the manner before provided in thi
Act, and not charge greater rate O
tolls than is herein set forth. And
/, is further provided that the issuanc
) and payment of said bonds shall b,
made upon the express condition tina
said corporation shall pay to the Stat
of Oregon ten per centum of the ne
profits arising from the tolls, collect
! ed for passing freights and passenger
! through said canal and locks, whicl
sum of ten per cent. of the net profit
shalt be paid into the common schoo
fund of this State.
3 SEc.s6. The said Canal and Loci
Company shall be required to full.
complete said canal and locks accord
I;nc fo kho rou,,iramanta af this acf