Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-04-22
NASHVILLE & DECATURR. 4
oftbe Louisville City Council

Action of the Louisville City Council
From the Louisville Courier Journal
The following is copy OF the new
railroad ordinance which was presented
to the General Council last nigh. and
which was adopted by the lower Board:
An ordinance to aid the Louisville and Nashville
Railroad Company IN extending its connections
South.
Sec. l. Be it ordained by the General
Council of the city of Louisville, That,
in pursuance of the powers conferred by
sections 81 and 6S of the charter of the
city of Louisville, for the purpose of aid
ing the Louisville and Nashville Railroad
Company to extend and perfect Its
connections South, the city of Lsuis-
vile undertakes and binds itself to pay
to the Louisville and Nashville Railroad
Company the sum of 1875, 900, to be
paid in semi-annual installments of $37,
500 each. The first payment shall no be
made before the 1st day of January, 1873,
or until six months after the completion
of the South and North Alabama Rail-
road: Provided, That no part of the said
1875, 900 shall be paid unless the Louis
vile and Nashville Railroad Company
shall lease the Nashville and Decatur
Railroad for a term of not less than
thirty years, and shall obtain the control,
BY purchase or subscribing for sufficient
stock of the South and North Alabama
Railroad 80 as to make continuous rail
road, to be used and operated under the
exclusive management and control of the
Louisville and Nashville Railroad Com
| pany, from Louisville, Kentucky, tn
| Montgomery, in the State of Alabama.
Sec. 2. 70 provide for the payment Of
said sum of 1915, 900, the General COun-
Gil shall, in the year 1878. and annually
thereafter, levy a special tax not exceed
ing ten per cent, on each one hundred
dollars worth of property In said city
subject to taxation by lhe laws of the
State of Kentucky, until the sand sum of
1915, 900 is paid.
Sec. 8. The receipt of the collecting
officers for the tax provided TO be col
| lected in ssction of this ordinance shall
pass by Endorsement, and on presentation
| of the same at the Office of the Louisville
and Nashville Railroad Company, in Lou
| isville, the said Louisville and Nashville
Railroad Company shall issue to lhe sSiG
holders of said tax receipts, preferred
stock of the South and North Alabama
Railroad Company, or such stock as said
Louisville and Nashville RailrOad COmUa-
ny may receive from said South anG NOrlH
Alabama Railroad COMPANY, pro rata
amongst tine persons and corpgratilus
holding said tax receipts Foi tax re-
ceipts to the amount of one or more whole
shares, certificates Of stock shall b.
issued, and for receipts for less than
whole share fractional certificate s1'
be added; provided that stock Of the
South and North Alabama Railroad
Company shall be issued TO the
city of Louisville by the Louisville and
Nashville Railroad Company fof wa4.-
ever amount is included by the h0iders Of
such tax receipts two years after the pay
nent in full OF said 1915, 600.
Sec. 4. This ordinance snail not TAX.
effect uutll after it shall h-vs b--U pub
lished and approved by a m rity of ,he
qualified voters, who may vte ou nc
said propositions as required by Lle CuasS
ter of said city.
Sec. 8. This ordnance snail be pub
lished q. least three times in two 'aily
newspapers published in said city, an
shall be voted on by the quaIial EO.erss
who may vote on the prypJsii. ~ a. ~
election to be held in the city of Louis
vile on the 9th of May, 1871.
Lincoln county is to have medical as
sociation.