Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1870-03-22
lPablislled March 5, 1901
fftF4 rrErs % r..

u
from and after ~ publication.
Approved March 3, 1870.
tpabiisled March s, 1871
CHAPTER 2&--GxSFRAL.
An ACT q encourage .he eonsnc'on q railroads In
This sta.a.
4ie gtops ~ thc state of Wisconsin gep-esanssd IA
-euate and Assembly DO enact ~ follows.
SECTION l. Whenever any railroad company in this
STATE shall hare located its lire into or through any
county Il shall be the duty Of such company cause
such fact together With sch description OF The line 50
located 10 We Tecordedor Sled in The office OF the reg
is;gr 81 teeasoi serh comfy, as VIII show clearly,
.es sec.t j tid oya Bhici.he same passes, AMI no
change shaft ne rade IN such location after any town
city village therein shall have voted subscribe 20
thc capital a.o0k OF such railroad comrany, and 70
create bonded Indebtedness for the payment Of the
same, except by consea % such town, city or village
expressed BY q sinclair vote.
sac 2. Upon such location % Che Inc q any rail-
road into near 20 1frough any hown Incorporated
ri'y az village B. Ehpnbe lawful foF such town. In
rorpoFaed city OF village, 70 subscribe Cor the capital
stock Of sdch railroad company aud 20 issue bonds
'or The payment the same lFoYSdsd the legal vo-
fos8 % such town, city Or village al any annual or
special election duly called underline provisions OF The
existing laws Of this state, or majority Of them voting
~ such election Ia such town, city village shall be
favor Of making sach subscription aud Issuing such
bonds The town clerk or NE cleik Of The city VII
iage as the may hc shall upon the requisi.
zion give the notice q any such ele tion and Of
Che business SO he transacted thereat, and In the same
naopeg ~ - now provided for by law Ia cEse Of spec
la business ~ special town meetings. Said notice
shall also pecly tho amount " the subscription 10 be
made. an. VI The bonds proposed 20 be Issued, the
length Of time they arr 70 run The rate Of interest they
shall bear the railroad for whose stock they he
Sod when 70 he delivered, when 20 De II sde payable
sod yen the railroad II Go be completed certain
uu'n'. 81 sIch election those yoi Ia favor u the
irfostian 81 deposit ballot contgiung the words,
'fur the rsilruad,' and those voting agalns, Il,
mail deposit ielot contgirlug the words,
against The railrond" The election shall 10 con-
a Uf .ll nd
end recorded IN the same manner the votes given
~ Che annual town. city or village election !. Ard
subscriptions shall thsreupon be made 70 the capital
stock Of said company, by the chairman Of the board
" supervisors ~ The town. the mayor Of the city or
the president of the village as the case may he. 10
,ha not be lawful 10 strike from any such town city
co village, any Of It's territory while such bonds shall
Doc outstanding and unpaid, and the issuing OF such
bonds shall bc deemed contract that the territory Of
such town. city or village shan not he dimini shed
while such bonds shall be unpaid in whole in part
SEC 3. such bonds shall according TO the purpose
for which or ssue " authorized rs in the preced-
ing scctiOut nd elsewhere In this act, be delivered in
payment an io shares of stock subscribed for by
any such town, incorporated city village, when all
the conditions precedent on the part Of such cOmpa-
n.y. in this act provided, shall have been perform
cd They shall be signed by the chairman ofthe board
81 supervisors aud town clerk Of the town. the mayor
aud clerk Of the city the president and clerk Of the
village A. the case may be, voting the same Each
shall be Of the denomination Of hundred dollars
Nith annual semi annsal interest coupons attached
iu the usual form. All the conditions upon which
they issued shall be stated therein. There shall
ais hc endorsed upon the back OF each certificate
OF registry TO be signed hereinafter provided, by
hr Secretary 81 State. The shares Of stock In such
railroad company thus taken by said lawns, cities or
villages and all dividends arising thereirom hereby
pledged, while they remain the property Of such town,
city village for the payment Of the principal and
Interest ef the bonds delivered for such stock and the
supervisor, mayor president, when authorized by
vote of bis town. city or village, az any annual
special election thereof may self such stock hndtraus
Ter the same 90 any purchaser, aud the proceeds Of
sfph4 af0 hall M d he
81 and principal ~ such bonds and for that purpose
he same shall be Immediately deposited by the officers
receiving the same with the state Treasurer, and said
town. city or village credited therefor, 70 be used by
him IN connection with, or In lieu of other funds stand
ing the credi. Of such town, city or village. The
board 81 supervisors OF the town, council OF
shall annually or as often as there ahh be vacancy,
Rpu0in' enc "a rOad comm ssoncT whose duty shall
he after .he bonds have been issued . The ralroad
company, 20 attend The nesting uf She stockholders %
such comuany. Nnd he shall be ouzitied 60 cast
vote or each share Of sock owned bg 6r,f town city
CF village in the elsctton Of directors, and On al
Questions au shall Ia AZ other respects be treased as
iockholde therein while be 20 represents such town,
eity or village.
SEC. Z. Whenevcr shy tewn, incorporated city or
Village shall hereafter crea.e debt under the proyis-
1ua this act, nnder the provisions of any law OF
his STATE Tor subscription 70 the capital stock % any
railroad company whose lines shall be located In this
state, horenbsgore provided, q shall be lawful Tor
she state Tressurer and he is hereby required, iume
tstely upon receiving the revenue ior each year. Tor
and during such term OF years as may be necessary %
place % che credit oi any snch town, Incorporated
city or village having Incurred such Indebtedness In
The STATE Treasury, annually thereafter during the
term aforesaid all y. the spcca taxes collected and
said into re Satc Tfeosury thd increased vaiuA
Non 81 the taNable property % such town. incorporated
r'y or village as shown ny the annual assessment
rolls % The year 1852 IS provided IN section and II
oi tis act. AMI wlio2e any town, incorporated
ry 90 village shall Rave created sdeb ss Aforesaid
o shall also be iawfGl tot the sgs,e Treasurer and Ne
j. hereby required, iHmsdieey upon receiving The
az fiav uIfr,.
for The purchase q whose stock such debt shall have
been created ~ any srch town, Incorporated cty or
village, 20 place 20 the crrdi; q such towns incospo-
gated cities or Villages, 81 Ruy enc nneof railroad
10 shaving Incurred sreh intectc lness In the state
Vressunry annually Tor ana during tie falI term OF
SIC existence OF such Indebtedness any part thereof
'Ns sboie amour. 50 received and Ia such Proportion
70 each a. such towns, iuccrpcts,ed cIes villages
on an enc n ne IS shall b 10 m equal ratio % Tie
shoe q sneh indebtedness originally Incurred by
sec g, Tong IS The tax or ilesnr Zee upon any
ailroad ur railroads parts thereof Hereafter bent
ga this Stae shal be needed or the pupose 81 beins
uscd IN the payment Of any lndeedness tncurred foi
Us construction bY any town city or village as COD
tcmplated his act aud as directed By section four,
% he applied by The state Treasurer Tor that purpose
and no longer tax license Zee OF ak percentnm on
thc gross rsrniugs 81 the rate a. present Az
thorI ~ law the additions three per cent being ia
~ the bonds issued ny the several towns,
'"s ahe villages Va aid - said railroad, and shall be
'I,,ses N'.s tsea nsder he sane laws sud reguls-
Pep eahoW Apply % The collection 81 the present rate
n Hr. rs" NF NNtNt' upon rAiIEoaoa.
SIRE. g. Aud tNc clerk ~ amy r.sh t.,svr ,i.y or
'.s- Gfoa 81. ias..ng 81 thc bends IN he psvmtnt
IS tch sansciptcu 90 the tc-k cf s.y e.sh taiir5ad
teirl-ay, shall mase rcErFaatn iht.Cug In n book
% BE- Kept Coz thH purp5fe In BIS Office showing Inc
Gate, oniouet nunhyr, maturity and rate Or Interest of
such bonds, and 60 What railroad company sme wrrs
deliver 4. And the said bonds issued and stili M,
paid. In order % receive the benefits Of this aci hs
each be registered By the holder thereof IN the once OF
the Secretary Of State who shall cause the same 10 be
registered IN book kept for that purpose. such r.g
afsaIf ehn mo ar
ty and rate Of Interest % each Of such bonds. under
What act and by Whist town. city OF village the sane
were issued and the Secretary VI stats shall uudST his
zeal Of sce certify upon Zach OF such bonds the fact