Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-12-02

An act 10 enable the Railroad Commissioners for
the State for the sale Of delinquent Railroads,
10 perfect their sales and place purchasers IN
possession.
Whereas, the Commissioners are hindered
70 some degree in the final cOnsummatiOn
Of one or more Of their contracts Of sale by
reason Of litigation on the part Of adverse
claimants: and, whereas, in one or more
instances of sale, tie option is reserved TO
the purchaser or purchasers Of taking the
interests Of the State in the road contracted
to be purchased By him OF them; and,
whereas, it is manifestly to the interests of
the State that the work entrusted to said
Commissioners should be completed at the
earliest day practicable; therefore,
Section /. Be it enacted by the General
Assembly Of the State Of Tennessee, That
with the view Of removing all embarraSs-
ments and facilitating the accomplishment
of the purposes above indicated, the said
commissioners, viz: The Honorable Robers
J. Mckinney. Francis b. FOgg, Archibald
Wright, the Governor, the Comptroller and
the Secretary Of State, or a legal quorum Of
their number, be and they are hereby
authorized an fully empowered to make
and carry int ull effect, on the part Of the
State, any cttlement or adjustment with
parties litigant adversely to the State, that
10 Lutlu lltAN SttuA EtftAlhAbit UEtMEGn liz
parties and advantageous TO the interest OF
the State.
Sec. =. Be it further enacted, that in the
event the purchaser or purchasers in any of
the sales so made by the Commissioners, in
which was reserved 70 him or them, the
option Of taking the States interest, should
elect 20 take the interest Of the State, then
said sale is hereby ratified, sanctioned and
confirmed; and said Commissioners are
hereby authorized and fully empowered to
place the said purchaser or purchasers In
full possession Of said road, so purchased,
and al its appUrteuances in the manner pro-
videi for in section one and two of an act
passed July 5, 1870, entitled -an act author
izing the sale and transfer Of the interest
Of the state in delinquent railroad cOmpan-
les any act or acts with regard 70 the
qualification or appointment Of Receivers,
to the contrary notwithstanding.
See. 3. BE it further enacted, that in any
instance where the said Commissioners, in
Guiding specially the Governor, Comptroller
and Secretary Of State, may have contracted
to sell the railroad tracks, railing, rolling
stock, etc, of any railroad company which for
two consecutive years prior to said sale may
have failed to pay the interest accrued upon
the bonds loaned to it by the State, and
which may have accepted aid from the
State under an act passed Dec. Z, 1857,
entitled san act to amend the Internal I'm
prOvement laws of the State, passed Feb.
1,lSj2,' in such case the sale so made shall
/ be valid and operative as against the State
and said company to all intents and pur-
poses, to transfer without warranty Of
I title to the interests Of said company said
railroad track, railing, rolling stock, etc, TO
the purchaser or purchasers in said sale.
Sec. 4. Be it further enacted, That
upon the cOnsummation Of the sale of any
railroad, or the States interest therein, that
may have been leased by act of the General
Assembly with the reserved right to the
STATE to determine the same then the said
| lease shall instantly terminate; and the
/ State be 10 further liable for any expendi-
| lures by the lessee upon said railroad, nor
for any further losses resulting thereafter
/ from the operation Of the same.
I See. .. Be it further enacted, That this
/ act take effect from and after its passage, the
/ pablo welfare requiring f.,
Passed Nov 1G, 1871.
JAMES u. RICHARDSON,
Speaker Of the House Of Representatives.
JOHN &. VAUGHN,
Speaker Of the Senate.
Receiveda at Executive Office Nov. %, 1871,
and approved Nov. "a, 1871.
JOHN G. Brown, Governor.
| certify that the above is true copy Of
the original now on file in my office.
7. ii. BUTLER, Ssc.eLary OF slate.
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