Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-11-30

An act to enable the Railroad Commissioners for
the State for the sale Of delinquent Railroads,
to perfect their sales and place purchasers II
possession.
Whereas, the Commissioners are hindered
to 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, the option is reservedto
the purchaser or purchasers Of taking the
interests of the State in the road contracted
to he purchased by him or them; and,
whereas. It is manifestly to the interests Of
the State that the work entrusted 10 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 Robert
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 70 the State, that
! to them may seem equitable between the
parties and advantageous to the interest Of
the State.
Sec. ?. Be IL further enacted, that in the
event the purchaser or purchasers in any OF
/ the sales so made by the Commissioners, In
! which was reserved to him or them, the
| option of taking the States interest, should
| elect TO 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, 50 purchased,
/ and all its appurtenances in the manner pr =
! yided for in section one and two Of an act
passed July 3, 1870, entitled san act author
/ izinp 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.
( Sec. 3. Be il further enacted, that in any
} instance where the said Commissioners, in
/ Guiding specially the Governor, Comptroller
/ and Secretary of State, may have contracted
10 sell the railroad tracks, railing, rolling
stock, ETC., of anyrailrOad company which for
two consecutive years prior to sand sale may
have failed 20 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 Dee ., 1857,
entitled san act to amend the Internal I'm
provement laws Of the State, passed Feb.
| II. 1852. I'm such case the sale so made shall
be valid and operative as against the Stale
and said company TO all intents aud puT-
| poses, to transfer (withOut warranty q
title to the interests Of said company said
railroad track, railing, rolling stock, etc. 70
the purchaser or purchasers in said sale.
See. T. Be il further enacted, That
upon the cOnsummatiOn Of the sale OF any
railroad, or the States interest therein, that
NAV have been leased by act Of the General
Assembly with the reserved right 70 . Z
State TO determine the same; then the said
lease shall instantly terminate; and The
State be no further liable for any expendi
lures by the lessee upon said rs<lrOad, MOI
for any further losses resulting thereafte
from the operation of the same.
Sec. ). Be 1t further enacted, That tht
act take effect from and amer its passage, To
public welfare requiring it.
Passed Nov. 10, 1911.
JAMES ID. RICHARDSON,
Speaker of the House of Representatives
JOHN G. VAUGHN,
Speaker of the Senate.
Received at Executive Office Nov. q, 1911
and approved Nov. "A, 1871.
JOHN G.. BROWN, Governor.
certify that the above Is a true copy q
the original now on file in my Office.
T. H. BUTLER, Secretary Of STATE.
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