Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1871-04-12

sum of money, from any person or per-
sons, corporation or body polite OF any
kind, and to make, execute aud deliver
all necessary writings, notes, bonds,
mortgages or other papers, aud securi-
ties in amount. and kind, as may be
deemed expedient by said corporation
in consideration of any such loan, or in
the discharge of any liabilities that II
may incur in the construction, repair.
equipment or running OF said road and
The powers of said corporation for the
purposes aforesaid and for all purposes
necessary to carrying out the objects of
said company, viz: the construction OF
a railroad from and to the points afore-
said, are hereby ratified AID confined,
and the contracts and official acts of
said company declared binding in law
and equity upon said corporation and
upon all other parties to such contracts.
Said company shall also have authority
and power, and it is hereby authorized
and empowered in its corporate capacl-
ty to make, execute, issue and deliver
It's bonds and obligations from time to
time and at any time in such an amount
that all the bonds of said company out
standing at any one time will not e4-
coed the amount of the capital stock of
said company. The directors of said
company are hereby authorized and
empowered to prescribe bv resolution
to be by them adopted, the sum or
sums for which each of said bonds shall
be issued, the time or times, and the
place or places when and where the
principal and interest Of the same shall
4 be payable, the person or persons,
trustees or corporation to whom the
same shall be payable, and whether
| payable to order or to bearer, or how
otherwise negotiable, the rate Of inter-
est which such bonds shall tear and the
manner and form in which the interest
coupons annexed to them shall be ex
ecuted; and to secure the payments OF
any or all Of such bonds, the said cor
poration is hereby authorized and en-
powered in its corporate capacity, to
make, execute and deliver mortgage
or deed of trust upon the whole or any
! part Of Its railroad, constructed or au-
thorized to be constructed, aud of any
or all of its estate, real, personal or
mixed, in possession or expectancy.
owned and acquired, or to be thereaf-
ter owned and acquired by said corpor
atlcn; and the said company is also
hereby authorized AID empowered, In
/ and by such mortgage or deed of trust
10 confer upon the trustees or mortsa-
ger, full and ample powers to enter in
to and upon, and to ia Ike possession OF,
have, use and enjoy, or to dispose Of
the whole or any part Of said aairoad
or It's estate, together with the func
| toni appertainng TO said railroad, and
| all corporate and other franchises.
rights and privileges of said corpora
4 ton and the directors of said compa-
ny ore hereby authorized and empow-
cred to prescribe by resolution to be
adopted by them, all matters relating
to the form and terms Of any mortgage
or decd of trust, and of its execution
and delivery and they are authorized
to provide for the periodical payments
to such trustee or receiver Us they shall
appoint, a certain sum to create a sink:
ing fund, with which to pay off or dis
charge, at or before maturity. any or
all Of tie bonds by them authorized to
be issued and also to provide the
manner in which such trustee or re
ceiver shall pay out or dispose of said
sinking fund, and to authorize him to
designate by lot, or in any other suitable
manner, the bond or bonds to the pay
nent of which such sinking fund or
any part of it shall be applied and the
said board of directors are hereby au-
thorized and empoweree to sell, pledge
hypot hecate or otherwise dispose of.
either for money, work or material to
be used in the construction and equip
ment of said railroad, all or any portion
| of such mortgage, bonds or her Sc
curites, or bonds received from any
county, town, village or city at par or
TT snch price less than par as the said
directors may by resolution, to be by
them adopted, deem advisable any
such mortgage or deed Of trust, and
every discharge or satisfaction thereof,
may be recorded in the Office OF the
secretary OF state in a proper book kept
TOR that purpose, and the certificate OF
such recording endorsed on such mort
gage or deed Of trust shall have the
SEINE effect as if such mortgage or deed
of trust was recorded In the several
counties through which said road may
run, aud such record in the Office of
the secretary shall be sufficient notice
t. all persons.
Sec. Ii, The company hereby crea
ted shall for all and every lands and
property which it shall appropriate,
take, possess, occupyor use (unIess the
same be donated to them. pay the
value thereof, at the time and Ia the
manner herein proved and such value
| shall be ascertained, fixed aud deter
mined by mutual agreement between
| the said company and the owners of
such land and property respectively, OF
| by and through tEe medium and APP
praisement and determination or award
of commissioners appointed as herein
after provided.
See. IA. When the said corporation
shall not agree with the owner OF
owners Of such required land for the
purchase thereof, or as to the comIe
sation to be paid therefor, or wnea by
the reason Of legal incapacity OF Of ab
srnce OF such owner or owaers, a.
such agreement can be made, then aud
in that case it shall be LAWFUL for any
Jude OF the supreme court, circuit or
county courts of this state, on appllca
ton Of the said company, or t he owner
or owners OF any such land and at the
ost an charge OF SAID company. 10
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