Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-12-15


bill az they may, respectively,
deem proper: Provided that it be consist
ent With the course of the Court. And in
order to save expense, said parties, or any
Of them, may, in person, or by attorney,
with the consent Of the attorney for the
State, mako an agreed case, submitting all
such questions as they may think proper,
TO the immediate decision of the court.
And it is further provided, that, in the dis
erection of the court, f. NAL pleadings may
be dispensed with by a. simple statement
on the record of the points or matters re-
lied upon by the parties, and sought to be
decided by the court.
8. Be it further enacted, etc, That II
en- account, on behalf Of either of the PSF
ties, shall seem to the court, proper and
necessary, touching any matters of fact in
issue between the parties, an immediate
reference of the same shall be made TO the
Clerk and Master, or, if thought prefer
able, to such special commission as
the court may appoint; who shall proceed
at once to take such account, and make
report 10 an adjourned term of the court,
within such period as the court shall limit
mot exceeding twenty days from the date
of the decree ordering the account. And
at such adjourned term, final action shall
be had upon said report. But the taking
of such account shall not postpone the
discrimination of all such questions Of law
presented by the parties, as are not in
volyed in the matters of account ordered
to be taken.
4. Be il further enacted, etc., That
competent counsel shall be retained on
behalf of the State, by the commissioners
whose duty it shall be, Immediately on the
passage of this act, to file bill in said
Ohsncery Court, SO framed rs to elicit a
determination by the court, of allquestions
Of law and matters of controversy now ex-
listing, or that may hereafter arise, between
the State and any or all of the palties in
tsrested in said roads; and to conduct the
suit, and superintent its progress, with q
view to the speediest practicable determiD-
alton. And for such services, said counsel
shall be paid a fair compensation out Of
the public treasury of the State.
5. Be it further enacted, ETC., That
upon final decree being made, by the
Chancellor, settling the rights of the par
ties, either party shall have the right OF
appeal, or writ of error, to the Supreme
Court, in the usual mode; except, that the
time for prosecuting q writ of error, is
hereby hmited-(in view of the urgent
public necessity for a speedy determine.
tom to thirty days from the final decree.
Aud in case of an appeal or writ of error
to the Supreme Court, transcript Of the
record, or such part thereof as may be
thought necessary, shall be fled in the
Office of the Supreme Court at Nashville,
within said period of thirty days.
6. Be II further enacted, ETC., That, in
case of an appeal, or writ of error, to the
Supreme Court, as herein provided for,
the Judges thereof-in view of the press.
| ing exigencies Of the State-are hereby
| specially empowered, and respectfully re.
| Quested, as soon as the transcript of the
record shall be filed in the Office of said
court, If then in session, TO take up, and
all other cases on the docket. And, IL moi
in session, to appoint special term for the
immediate hearingof the same.
z. Be it further enacted, etc, That, in
case any of said Railroad Companies should
decline contest with the State, in regard
to the sale of the States interef in their
roads, sale may at once be made. And
upon the final determination of any con.
troversy that may arise between the State
and any of said Railroad Companies, il
the Chancery or Supreme Court, the in.
terest of the State in such roads, shall be
Immediately brought to sale by the Com.
missioners.
8. Be it further enacted, ETC., That O
specific value shall be fixed upon the
States interest in each of said roads by
-, and the Commissioners shall
be authorized to dispose of the same at
such valuation, either at public or private
sale, as they may judge most reasonable.
And if a sale of any of the roads cannot be
made a. such valuation, the same shall oe
sold for the highest price that can be OBJ
tanned.
8. Be it further enacted, ETC.; That the
interest of the State, in either of said Rail-
road Companies, may be sold on time.
And the amount agreed to be paid by the
purchaser, may be discharged in any OF
the outstanding legal bonds of this State.
But sale on time shall be upon the fol-
lowing express conditions: The purchaser,
at the time of sale, shall pay or deliver to
the Governor at least one-fourth of the
amount agreed TO be paid, in legal bonds OF
the State and shall execute bond with
buluCiCuI bcCuEll1, W luo NONoEuOE, lOI
| the delivery of the remainder of the bonds
TO be paid, at Intervals of one, two and
three years from the date of the sale, in
! like legal bonds of the State; and also to
pay into the Treasury of the State, from
the time of his purchase, an amount equal
to the interest accruing semi-annually from
the remaining three-fourths of the bonds
to be thereafter delivered by him, until
the whole amount shall be delivered to the
Governor: said interest to be paid as the
coupons mature. And it is expressly de-
| clared, that the failure of the purchaser tc
pay or deliver to the Governor, any subse
quent installment of bonds, as above pro.
vided, when the same shall fall due, shal
work an absolute forfeiture to the State of
all and every payment previously made;
and in addition, bis interest in such road
shall be re-sold, by the Commissioners,
after forty days notice, to m6etthe default
in payment by him.