Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-03-04
SHELBY COUNTY QUARTERLY CoURr,1
La.-ranL H. l

and conditions. viz:
J. The Western rmInu Of said Railroad
shall be and always remain at Memphis,
Tennessee.
2 The money paid under this subscription.
or the csrtl1cate OF Indebtedness hereinafter
guthoTized to 70 issued, shall be applied:
First-To the grading, bridging and masonry
ofthat portion OF the road within the county
OF bheipy, commencing the work at Mem
pitts and completing II continuously, ready
for the supeIstractDre, TO the County line.
SecOndly-TO the purchase Of cross-ties, iron
rails ana f%astentngs sufficient to lay the track
within the County or Shelby. ThirdIy-To
the purchase Of locomotives and cars suf-
hcient to operate that portion Of the road
within the County, and TO the LAYING of the
track over the same. FcurthIy-TO the cree
ton Of sUch depOta,p platforms, section houses.
machine Shops turn tables water stations
and the purchase Of scch machinery tor the
shops as may be Necessary for the &c 5nomical
operation OF the road. kiuhIy-Should any
portion Of the subscription remain al er that
part of the rOa1 In shelby COUNTY Is fully
completed and equipped as q drst-cI8ss road
in every respect, then such uuexpendsd pOr-
ton shall be applied to the extension of the
road into Mississippi, in the same order and
for the same purposes as required to be ex-
pended In shelby County and 20 part Of The
money hereby subscribed, Mr. OF the certih-
Gales Of indebtedness here natter authorized
10 be issued shall be used for the payment Of
| Oficera' salaries, commissions, Office rent. |
| printing, stationery, or her general or mis- |
| cellaneOus expenses Of the company. nor for |
| right Of way or depot grOunCs, aud any vlo
laton Of these conditions on the part of the
said RAILROAD Company shall render this /
subscription wholly void as TO all further
8. Before any portion Of the money herein
subscribed snail be paid over to S lid Railroad /
Company, and b fore any certificates Of in
deb edEtss shall be delivered to the sad /
| Railroad Company. the President OF sid /
Company shall hle with the Clerk Of the /
Count Court an accurate and full Topo- !
| graphical Map Of the final location of the
Road in shelby County, and an accurate pro-
hle OF the same shOWlng the ~qusnulies of
excavation and borrowed embodiment, OF
masonry, and OF bridg ms to be done on each /
section, and a copy OF the specifications and
form OF contract under which the work is re-
Qutreu to be done, which map, profile and i
specification shall be certified By the Chief /
Engineer OF said B9s d under cath as correct |
A. The annual i~ustalments shall be assesses |
by the Court each year at tue same time |
that the other County t-xes are assessed, ana
shall be collected 90 the same time other
COUNTY taxes are collected
5. At the term Of the Court each year pre-.
ceding the term at which the taxes are 10 be
assessed, me Court may appoint one or more
competent Civil Engineers. OF high character
for integrity, who shall have no connection
with said Railroad, 20 90 on the line Of SAID /
Railroad and make an accurate measure
menL OF all the work done, an account Of all |
the locomotives, cars, machinery, buildings, /
and material delivered for the Road, aud i
make a detailed, ttsmiZed report OF the m !
snd the valae thereof IN detail, estimated at
IA r and reasonable prices Tor each item.
said report sbaI be made BY the said Eugi-
neers under oath to the Court at the neNt |
term following their appointment; and the
President and Chief hngineer OF said Com
pany shall be bound to afford said Engineers 4
appointed by the Court access to their boCkz. /
notes Of the work, and every facility tor ars
rivlbg at a correct Measurement and value
g. The President of the said D shall /
file a statement under oath with the CLERK OF
the County Court each year, C-5tempOrnne j
ously with the report of the said engineers.
which statement shall show tully The eX-
penditurs OF al money received from the
subscription OF Shelby county, or nom the
certificates OF Indebtedness hereinafter au-
thOriEed to be issued. showing when and TO
whom paid, and on what ccLuQ /
Z. If 1t appear TO the satisfaction OF the
court from the report OF the said engineers,
that The money received from said county
subscription, or the certificates Of indebted
ness hereinafter authorized to pe issued, have /
been faithfully and economically applied for
the purposes expressed In article 2 Of tine de-
cree, tnen no further tax shall be assessed or
levied for that purpose, ana no more cerIfd
cafes OF Indebtedness snal be Is ued and the
subscription as to the balance o the install
ments snail be void.
8. 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
on account OF this SUBSCRIPTION, which re-
ceipt shall entttie the holder thereof to re-
ceiYe from the Railroad Company, cerJfn-
Gates o. stock in said company to the amount
o. the receipts when presented to The Secrs-
LaTy o. Aalu colnpany IN sums OF twenty
dollars, or CERTIFICATES OF twenty five l.
lars, ami Tor any excess over TWENTY-FIVE
dollars, or multiples OF twenty-five dol ars,
secretary or the Railroad Company shall
give to the holder a receipt which shall like
y = 14 ~ AAAaN NaN Jun "a NLE SAT- Q
company, when presented by the holder, in
sums Of twenty-five dollars or its multiple
q. The acceptance by the said Railroad
Company OF any portion OF tie money col
leoted under this subscription, or Of The GER
tlhcates OF Indebtedness hereinafter author
lied TO be issued shall bind the company
fully TO all the terms aud conditions o. this
subscription as set forth in the foregoing
and following articles.
10. Tins subscription b become binding
only when ratified by the constitutional ma
jOrity OF The legal voters OF the c unity, and 70
test their sense Of this queg Ion, 1t IS hereby
ordered, that the Sher1n Of the county make
publication in two daily newspapers pub
lished In Memphis, Of an election to be held
for that purpose. at the regular voting pre-
cincts of ths county, on Saturday, the 18th Of
March, 1871, and that a copy OE this decree
and a statement OF the financial condition Of
the county be published in connection with
such election notice for thirty days preced-
ing tn election, in two daily papers pub
II. Those who favor the subscription shall
at said election write or print on their bal
lots the words, For subscription and those
who oppose the subscription shall write or
print on their ballots the words, NJ Sab.
scriptiOn +" and the Sheriff shall Immediate
~ alter the election make due returns % the
Clerk OF the County Court, Of the rumber Of
The votes polled for and OF the lumber Of
votes polled against subscription
Il. It being the object Of b Court to enable
the Railroad Company to Ommencet the work
as speedily as possible,
II is therefore ordered, That II it shall sp-
pear from said election returns that the sub ]
soriptiOn has been ratified by the required
constitutional vote, the Chairman or the
County Court shall Immediately, upon the f.
filing of the map, profile and specifications I
required by article 3, issue to the said Rail-
road Company certificates of indebtedness of {
Shelby county to the amount Of one hundred Z
dollars. Eaid certificates shall be
issued IN such sums as the President may di- 3
rect, and express on their face that they are ?
for subscription OF stock to d eSelma, Marion 1
Memphis Railroad Company, and thai =
they are Receivable in payment of said spe- I
chic tax. AudLkeWise each succeeding year, :
II itshsl appear TO the satisfaction of the {
court, from the report OF the Engineers ap- +
pointed as provided in article 5 OF this decree, Z
the money arising RON the tax OF the 4
preceding year, or the certificates Of indebt-
sdness issued the preceding year, have been .
faithfully and economically applied as re-
Quired by article 2, then the chairman Of the
Court shall issue TO the railroad COM I
one hundred thousand dollars Of certih-
Gates IN the same manner and form as hereiu-
before provided, till the full amount of i've 1
thousand dollars has been issued ]
The certificates OF Indebtedness tOreaCh year a
shall be numbered from one upward, cOnsecu- G
lively, IN the order of their issuance, and shall q
be signed by the Chairman of the County Il
Court and cOuntersigned by the Clerk Of the v
Court, and have the seal of the county i
attached; and the said Clerk shall keep an d
exact register OF each certified issue, showing d
when and to whom issued, and the chairman
Of the Court shall take the receipt of the p
treasurer Of the said railroad company for all o
issued, Whlcu receipt shau be pre- o
servedin the Office of the Clerk Of the County s
Court; and the said Clerk shall at each meet 81
Of the Court next follOWtng the issue OF GER y
issued to date OF that meeting d
The Court shall, in each case, provide proper
compensation for the engineers authorized TO
be appointed under article b Of this decree.
The money OF certificates snail only be paid
out by said company for work actually done .
or material actually delivered, Of the kind :
and class specified in article 2 OF this decree.
The certificates when received by the Tax
Collector in payment OF this specific tax. or 4
when redeemed by the County Treasurer, shall
be Immediately cancelled by those officers re-
and each shall make a report quar-
.erly to the Court OF the amount received or
and Cancelled. That upon receiving
any instalment OF the certificates herein r
before provided for, said railroad company 2
shall give a bondiu the sum OF one hundred a
thousand dollars, with such sureties as shall il
be satisfactory to the Chairman Of this Court. y
conditioned that said certificates shall be In T
good faith applied to the objects and purposes 7
specified IN article 2 Of this decree; and that a
certificates shall not be used or negotiated
said company at less than eighty-dVe cents p
IN the dollar, and that said railroad company 0
shall renew said bond at any time that Il may 4
be required to do so byorder Of this Court 2
Ayes-EsQrs- Lyon, Duncan, Giles winters .
Sneed, Pulliam, caldwell, Crews, p
Holman, Brown, Burke, Elliott, Moore, Anl- q
Glisson-l6. 9
Noes-Esqrs. Witheringtou, Allen, Walker,
Tones, Brooks, Massey, II. C., and stOneT
A true eOpy-AtteHt;
County EOurt Elark. ! Il