Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-12-06

An act to email lie the Railroad Commissioners
the State Tor the sale of delinquent RaIlrO
TO perfect their sales and place purchase
possession.
Whereas. the Commissioners are hiniercd
to some degree in the fiual 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 cOntrsass4
to be purchased by him OF them; and,
whereas, it is manifestly 10 the interests Of
the State that the work entrusted 70 said
Commissioners should be completed q the
earliest day practicable; therefore,
Section l. Be it enacted by The General
Assembly Of the State Of Tennessee, That
with the view Of removing al embsraaS-
ments and facilitating the accomplishment
OF the purposes above indicated, the sAid
commissioners. viz: The Honorable ROber4
J. Mckinney, Francis B. Fogg, Archibald
Wright, the Governor. The Comptroller and
the Secretary Of State, or a legal quorum Il
their number, he and they are hereby
authorized an fully empowered tO make
and carry int Ull effect, on the part Of the
State, any ettlcmeut or adjustment with
parties litigant adversely TO the State, thzt
70 them may seem equitable between the
parties and advantageous TO the interest Of
the State.
Sec. =. BE it 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 70
place the said purchaser or purchasers in
full possession Of said road, 50 purchased,
and all its appurtenances in the manner pro
vided for in section one aud two cf an act
passed July >, 1870. entitled ''an act author
ling the sale and transfer Of the interest
Of tie State in delinquent railroad cOmpan-
les any at or acts with regard 10 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
TO sell The railroad tracks, railing, rolling
stock, etc, of any railroad company which fox
two consecutive years prior to said sale may
have failed to pay the interest accrued upon
the bonds loaned 70 it BY the State, and
which may have accepted aid from the
State under an act passed Dec. Z, 1857,
entitled Gan act to amend the Internal I'm
provement laws Of the State, passed Feb.
II, 1852, in such ease the sale so made shall
be valid and operative IS against the State
and said company 10 al Inteni5 and pur-
poses, to transfer (withOut warranty Of
title to the interests Of said company sail
railroad track, railing, rolling stock, etc, 10
the purchaser or purchasers in said sale.
See. 4. Be il further enacted, That
upon the COnsummatiOn Of the sale OF any
railroad, or the States interest therein, that
may have been leased by act Of the General
Assembly with the reserved right 10 the
State to determine the same then the said
lease shall instantly terminate; and the
State be no further liable for any eXpeTTdi-
lures by the lessee upon said railroad, nor
for any further losses resulting thereafter
from the operation of the same.
Sec. >. BE it further enacted, That this
act take effect from and after its passage, the
public welfare requiring it.
Passed Nov. 10, 1871.
JAMES D. RICHARDSON.
Speaker Of the House Of Representatives.
JOHN C.. VAUGHN,
Speaker Of the Senate.
Received at Executive Office Nov. %, 1871,
and approved Nov. "A, 1871.
JOHN G. Brown, Governor.
l certify that The above is a trIe copy o.
the original BOW on file in my office.
T. I'll. BUTLER, Secretary q State.
EovzS1w