Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-03-22

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JAEUAET TERM,
THURSDAY, January 5, 1871.
State OF Tennessee, Shelby County-County
Court Quartely Term, January, ls7L-
The selma, Marion and Memphis Railroad
Company o. tennessee aud Mississippi. for
merly tho Memphis, Holly SPRING, 0kolOua
and Selma Railroad Company, bvtheir Presi-
dent. n. b. Forrest, and a msjOTry Of the
Directors. having applied to this Court %
take, on behalf ofthe county OF shelby, five
Hundred Thousand Dollars S5o0,C0O Of the
Capital stock OF said Company, and beltsv-
ing thai the interest Of the people Of the
County win be greatly promoted by the
speedy construction OF said RaiIroads
TO is therefore ordered BY the Court, That
Five Hundred Thousand Dollars be sub
scriDed To the Capital stock OF the said Com
pauy. 90 be paid Ia ave annual Iustalmsnts
Of one hundred Thousand Dollars each,
without interest, upon the following terms
and conditions, viz.
J. The Western tsrmInus OF said Railroad
snall De and always remain al Memphis
q The money paid under this subscrlptfop.
or the Certificate OF Indebtedness hereinafter
authorized 20 DC issued. shall be applied
Flrzt-TO the grading, bridging and masonry
Olthat portion Of the road within the County
Of shelby, commencing TIRE work 90 Mem
plLs and completing II continuously. ready
for the experimenting, 70 the County line
secOndly-IO the purchase Of crOss-ties, iron
rails and fastenings sufficient to lay the track
within thu County OF Shelby. Thirdly-To
the purchase Of locomotives and cars sur
4aAAAaa ~ kEEA4AI ma pm HNAA VA the A0A4
within tie County and 10 the LAYING Of the
track over the same FOurthly-TO the cree
ton Of such depsas, platforms, section houses,
machine Shops turn tables, water stations,
and The purchase OF scch machinery for the
hops a. may be Necessary for the &C nnmfea
operation Of the road. Finhly-ShOuId any
portion Of the subscription rsmsiu after that
part Of the road In shelby County is fully
completed and equipped as "a nrsI-clfEs road
ia every respect, Lnen suen uneXpended pOr-
ton snau 1e applied 70 the extension Of the
road into Mississippi, in the same order and
for the same purposes as repaired to be eL-
pended In shelby County and 10 part OF the
money hereby subscribed, nor Of the Certid-
cafes Of indebtedness hereinafter authorized
70 be Issued, shall be used for the m Of
Omeera' salaries, commission. Office rent.
printing stationery, or oiher general OF mis-
c~ellaneous expenses Of the company, nor for
right of way or depot grounds, and any vO
laIiOu Of these conditions on the part Of The
said Railroad Company shall render this
subscription wholly void, as 20 all further
payments.
3 Before any portion OF the o herein
subscribed shall be paid over to said Railroad
Company. and before any certificates Of in
deb edutss shall be delivered to the zal5
Railroad Company, the President OF said
County Court an accurate and full TOp0-
graphical Map Of the nual location Of the
EOad in shelby County, and an accurate pro-
ME Of the same, showing the quantities Of
excavation and borrowed embodiment, OF
masonry. and Of bridging to be done on each
section and g copy OF the specincalt0us n
form Of contract under which the work Is re-
Quirad 90 be done which map profile and
specification shall be certified By the Chief
Engineer OF said Road under oath as correct
g.. annual instruments shall be assessed
by the Court each year az tue same time
that the other County taxes are assessed, and
shall be collected &C the same time other
County taxes are collected
S. At the term Oi the Court each year pre-
cediug the term at which the taxes are to be
assessed, the COurt may appoint one or more
competent Civil Engineers, Ofhtgh character
for integrity, who shall nave no connection
with said Railroad, 70 90 on the line Of SAID
Railroad and make an accurate measure
msnt Of all the work done, an account OF all
the locomotives cars, machinery. buildings.
and material delivered for the Road, aud
make a detailed, ltemized report of same,
ana the value thereof in detail, estimated at
far and reasonable prices for each item.
Said report b be made BY the said Engi-
ueers under oath to the Court st the next
term following their appointment; and the
President and Chief Eugluee Of said Com
sny shall be bOundt to snord said Engineers
appointed Oy the Court access to their books,
notes OF the work., and every facllify for ar
irving at a correct measurement and value
g. The President OF the said company shall
file a statement under oath with the CLERK Of
the County Court each year, c6tempOrane-
Ously with the report Of the said engineers.
which statement shall show fully the sx-
peudiJure Of all money received rom the
subscription Of Shelby county, or nom the
certificates OF 1ndebtedness hereinafter au-
thOrized to be issued. showing when and TO
paid. and on what account
7. If IL appear TO the satisfaction OF The
nom hereport Of the said engineers,
that The none received from said county
subscription or the certificates Of indebted
ness hereinafter authorized TO be issued. have
been faithfully and economically applied for
the purposes expressed in article 2 Of the de-
cree, then no further tax shall be assessed or
levied for that purpose, and no more cerud-
Gates of Indebtedness shall be is-ued and the
subscription as to the balance O. the install
memts snail be void.
s. In collecting the tax, the Tax Collector
shall give each taxpayer a separate receipt
for the amount of the tax paid By him or her
account OF this subscription. which re-
ceipt shall entltls the holder thereof 70 re-
ceiVs from the Railroad Company, cerrfh-
or the receipts when presented TO the Secre-
larry o. said company, In sums Of twenty
dollars, or certificates OF twenty-five dol /
lais, and Tor any excess over twenty-five /
dollars, or muluples OF twenty-five dollars, 4
the amount OF the receipts presented, the
OF the Railroad Company shall
give to lie holder a receipt which shall ike i
be convertible Into the stock OF the said /
company, when presented By the holder, in |
sums of twenty ave dollars or Its multiple
9. The acceptance by the said Railroad
Of any portion Of the money coll
.ected under this subscription, or OF The GER
5ihcates OF Indebtedness hereinafter author 4
.Ead TO be Issued, shall bind the company I
FULLY to all the terms aud conditions o. this
subscription as set forth In the foregoing
following articles.
i. Tins subscription b become binding ]
when ratified by the constitutional ma
GRITTY OF the legal voters Of the county, and to
their sense OF this ques ion, 1t Is hereby !
ordered, that the Shertu o. the county make
publication in two daily newspapers pub-
.ished In Memphis, OF an election to be held
that purpose, at the regular voting pre-
1inc1s Of the county, on Saturday, the 18th OF
March, 1871, and that q copy or this decree
a statement Of the condition Of
he county be published in connection with
such election notice for thirty days proceed
-ng the election, In two daily papers pub
ished in Memphis.
lL. Those who favor the subscription shall
It saiu election write or print on their bal
Ots the words, "Eor subscription" and those [
vhO oppose the subscription shall write or
print on their ballots the words, No Sub
.criptfon " and the Sheriu shall Immediate
~ after the election make due returns 10 the /
Jerk OF the COunGyC Court, Of the uumbeT Of /
he votes polled for and of the number Of
vOtes pOlled against subscri ptiOn.
l. It being the object OF the Court to enable
he Railroad Company to commence the WORK
It is Therefore Ordered, That II It hall ap-
)ear from said election returns that the sub j
criptiOn has been ratihe by the required
institutional vote, the Chairman Of the
'Ounty Court shall Immediately, upon the
Of the map, profile and specifications
by article 8, issue to the said Rail-
Dad Company Of Indebtedness Of
,h8lby county to the amount of Ons hundred
dollars. said certificates shall be
in such sums as the President may di-
eCt, and express on their lace that they are
or subscription Of stOck To the Selma, Marion
nd Memphis Railroad Company, and that
hey are receivable IN aymel OF said 8pe-
tax. likewise each succeeding year.
( IL shall appear to the satisfaction Of the
curt, nom the report Of the Engineers APP
as provided in article B Oftols decree,
the money arising from the tax Of the
rsCeding year, or the certificates Of lndeOt-
dness issued the preceding year have been
3ithIully and economically applied as re-
uired by article 2, then the chairman o. the
Court shall issue % the r1lLrOau COM
any one hundred thousand dollars OF ceftln-
ates in the same mauner and form as nereln-
efOre provided. TIL the fuu amount Of I'VE
uudred thousand dollars has been issued
The certificates of tudebtedness Tor each year
haU be numbered from one upward e0nsecu-
in the order Of their issuance, and shall
. stoned by the Chairman OF the County
and e0unLersigned by the Clerk Of the
louufv Court, and have the seal o. the county
and the said Clerk b keep an
xaot register Of each certified issue. showing
and 20 whom issued, aud the Chairman
4 tie Court shall take the receipt Of the
re9surer of the said railroad company for an IN
issued, which receipt shall be pre- III
srvedin the ONCE of the CLERK Of the County III
curt; and the said Clerk shall at each meet
{ the Court next following the issue or GER
hcates, report to the Court the fun amount
to date Of that meeting.
h Court shall, in each case, DroVfda uronar
lmpensauOn FOR the engineers authorfTed 10
3 appointed under article 5 Of this decree
be money or certificates snail only be paid
pc by said company for work actually lone
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