Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-11-28
UNION AND AMERIC4N
LAWS OF TENNESSEE.

An act to enable the Railroad Commissioners for
the State for the sale of delinquent Railroads,
TO perfect their sales and place purchasers IN
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 reserved to
the purchaser or purchasers of taking the
interests of the State in the road contracted
20 be purchased by him or them; and,
whereas, it is manifestly to the interests of
the State that the work entrusted to 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
]. Mckinney, Francis B. FOgg, Archibald
Wright, the Governor, the Comptroller and
the Secretary of State, or legal quorum of
their number, be and they are hereby
authorized aI fully empowered to make
and carry int ull effect, on the part of the
State, any ettlemept or adjustment with
parties litigaut adversely to the State, that
TO them may seem equitable between the
parties and advantageous to the interest OF
the State.
Sec. 2. 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
4. Nd -oid commissioners a
hereby authorized and fully empowered to
place the said purchaser or purchasers in
full possession Of said road, so purchased,
and all its appurtenances in the manner pro
yided for in section one and two of an act
PASSED july ,, 1870, entitled san act author
izing the sale and transfer Of the interest
of the State in delinquent railroad compan-
les" any act or acts with regard to the
qualification or appointment of Receivers,
to the contrary notwithstanding.
Sec. >. 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 for
two consecutive years prior to said sale may
have failed to 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 Dec. I, 1867,
entitled ian act to amend -the Internal I'm
provement laws Of the State, passed Feb.
11,1S52, in such case the sale so made shall
be valid and operative as against the State
and said company to all intentS and pur-
poses, to transfer (without warranty OF
title to the interests Of said company said
railroad track, railing, rolling stock, etc, to
the purchaser or purchasers in said sale.
Sec. f. Be it further enacted, That
upOn the cOuSummatiOn 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 to the
State to determine the same; then the said
2 lease Shall Instantly terminate; and the
State be no further liable for any expendi-
lures by the lessee upon said railroad, noI
for any further losses resulting thereafter
from the operation Of the same.
Sec ). Be il further enacted, That this
act take effect from and after its passage, the
public welfare requiring it.
Passed Nov. 1G, 1871.
JAMES d. RICHARDSON, 81
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 c. BROWN, Governor.
/ certify that the above is a true copy o
the original now on file in my office.
Il. ii. BUTLER, Secretary of S,ate.
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