Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1871-04-20
Published March 10, is7l.l
CHAPTER -HUvuN


struction Of railroads in this state"
The people of the state OF Wisconsin, represented
In senate and assembly, do enact a. follows:
section !. Section one OF said chapter ~ II
hereby amended SO as to read as follows: when
| ever any railroad company chartered under thu
laws Of this state shall determine to build rail
call for special town meetings in the towLs. cite,
and villages or any of them, near to or through
which they propose to run their said line of road
Said meetings shall be called in the same manner
ss now provided for calling special town meetings
In this state"
Sec. . Section two (a) Of said chapter is here
by amended so a. to read as follows: 1.-THE town
clerk or the clerk OF the city village, the
may be- shall upon the same requisition give the
same notice of any such election, and OF the bust
ness to be transacted thereat, and in the same
manner as is now provided for ty law In case Of
special business at special town meetings. Said
notice shall also specify the point or points in the
town, village or city II which said railroad shall
be built the amount OF the subscription to be
made and of the bonds proposed TO be issued, The
length of time they are to run, the amount that
shall be paid thereon each year during the time
they have to run, the rate Of interest they shall
bear, the railroad for whose stock they are to be
used, when to be delivered, where 10 be made
payable, and when the rair0at is to be completed
to a certain point. At such election, those voting
in favor of the proposition shall deposit ballot
containing the words, for the ratlroad,' and
those voting against IL shall deposit ballot con-
tanning the words, against the railroad The
election shall be conducted and the votes shall be
manner the votes given at the annual town. city
or village elections. And II a majority of the
votes cast at such election shall be "for the rail
ioad," subscriptions shall thereupon b. made to
the capital stock of said company by the chairman
OF the board of supervisors OF the town, the may
or OF the city, or the president of the village, as
the case may be: prortdsd, that majority OF all
shall be equal or not less than majority Of the
votes cast at the next preceding annual town meet
ing in such town. 1t shall not be lawful to strike
e. oh nj ~ ap ny nfi Tar
rtory while such bonds shall be outstanding and
unpaid, and the issuing of such bonds shall be
deemed contract that territory of such town,
city village shall not be diminished while such
bonds shall be unpaid in whole or In part"
Sec 3, Section three (3) of said chapter is here
by amended so as TO read as follows: "Such bonds
shall, according to the purpose for which their
issue is authorized as in the preceding section and
elsewhere in this act, be delivered in payment al
par for shares of stock subscribed for by any such
town, Incorporated city or village, when all the
conditions precedent on the part OF such company
in this act provided, shall have been performed
They shall be signed by the chairman OF the board
OF supervisors and town clerk OF the town, the
may or and clerk of the city, or the president and
clerk OF the village as the case may be- voting the
same, with annual interest coupons attached II
the usual form. Said bonds shall be made out and
signed a. above provided when said road Is located
and the line recorded placed on file in the town
village or city clerks office oil the town, vii
lage or city In which it was stipulated it should
run, describing at least each section over which
tied with custodian to be agreed upon by the
president of said railroad for whose stock they
were voted, and the supervisors of the town
president of the village or mayor Of the city; ant
The said custodian is hereby required to turn over
to said railroad company said bonds when the said
company have finished the road to the point OF
points agreed upon and named In the call for the
special town meeting voting the same, and not be
fOre all the con 1itons upon which they are issued
shall be stated therein. There shall also be en-
dorsed upon the"back of each certificate OF reg
istry to be signed by the secretary OF state The
shares OF stock in such railroad company thus Ia
ken by said towns cities or villages, and all divi
dends arising therefrom are hereby pledged, Will,
they remain the property OF such town city or vii
age, for the payment Of the principal and interes
| of the bonds delivered for such stock. And the
supervisors of the town, trustees OF the village O.
| aldermen of the city may contract to sell suct
stock and transfer the same 10 any purchaser, ant
the proceeds of such sale shal be applied to the
| payment of the interest and principal OF sucf
bonds. and for that purpose the same shall be i'm
! mediately deposited by the officer receiving tn,
ssme with the state treasurer. and said town, city
or village, credited therefor, to be used by him II
connection with or in lieu of the other fund
standing to the credit OF such town, city or VII
| lsge. The board OF supervisors OF the town, com
mon council Of the city or trustees OF the village
as the case may be, shall annually, or as often a
there shall be vacancy, appoint one railroad com
| missioner, whose duty 1t shall be after the bond
| have been issued to the railroad company. to at
| tend the meetings of the stockholders OF sucl
! company and he shall 10 entitled to Cast one yot
/ Tor eACn snare Oh STOCK OWEtu W SUCH toWH. CIV.
or village in the election of directors, and on al
questions, and shall in all other respects be treat
! ed as a etockhoider therein while he represent
| such town. city or village
| by amended so as to read And whenever an!
town incorporated city or village shall have ere
ated debt as Aforesaid II shail also be lawful 70
the state treasurer ana he Is hereby required, i'm
| medately upon receiving the annual state tax o
license fee from the railroad or railroads, for thu
purchase Of whose stock such debt shall have beef
| created by any such town, Incorporated city o
| village to place to the credit OF such towns, IN
| corporated cities or villages, on any one line o
railroad, so having incurred such indebtedness II
the state treasury annually, lor and during TIL
full term of the existence OF such Indebtedness o
| any part thereof, the whole amount 30 received
and In such proportion TO each of such towns, in
corporated cities or villages, on any one line, a
! shall be in equal ratio TO the whole of such in
| debtednl o. originally incurred by each
Sec. s. SO long as the tax or license fee npol
any railroad railroads, or parts thereof hereafie
built in this state shall be needed for the purpos
| of being used in the payment of any indebted
| ness incurred for its construction By any town
city or village, as contemplated In this act, and al
directed by section four to be applied by the stat
treasurer for that purpose, aid no longer, tax o
/ license fee of five per centum on the gross earn
ings, instead of the rate at present authorized b.
law the additional two per ceut, being in consid
| aratlon of the bonds issued by the several towns
cities or villages in aid of said railroad and shal
! be collected from each, under the same laws an'
regulations as now apply TO the collection OF thu
present rate OF stare lhA upon EdllfO4u-
Sec g. And the clerk OF any such town, city o
village, upon the issuing of the bonds in the pay
| ment of such subscription to the stock O! an
such railroad company, shall make registration
theleof IN book to be kept Tor that purpose il
his Office. showing the date, amount, numb r, ma
| turity and rate OF interest OF such bonds, and Il
what railroad company the same We're delivered
And the said bonds so issued and still unpaid, II
order TO receive the benefits of this act shall eaci
be registered by tn, holder thereof in the office
the secretary OF state. who shall cause the same Il
| be registered in a book kept for that purpose
! Such registration shall show the Gate, am cunt
| number, maturity and rate OF interest Of each o
| such bonds, under what act and by what town
city or village the same was issued, and the secfe
! tary OF state shall under his seal of Office cerf
| upon each OF such bonds the fact OF sucn regstra
ton, for which registration and certificate he shal
be entitled to fec Of twenty-five cents, to b. pa
| by the holder of said bond.
Sec. Z. In ali cases when Any town. incorpora
| ted city or village shall Issue bonds under the pro
| visions of law. and be entitled TO the benefit @
this act, it shall be the duty OF the town clerk q
| such town, or other proper officer of such incoi
pcrate6 city or village In whose Office the assess
ment rolls OF such town, city or VILLAGE are sha
be when completed, within Ave days after such CON
pletion, tom make ont and transmit to the secretsr
OF rtate, TO be fled In his office, certificate stain
the total value of all taxable property, real an
personal within such town, incorporated city 0
| village, as exhib ted by such assessment
| Sec. s. Section eight 49, Is hereby amended s.
as to read ~ follows: When any such bonds c
any town, incorporated city or village shall b
registered o. in this act provided, the secretary
state shall Annually ASCERTAIN the Amount of lntcI