Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1874-04-04
Congressional Debate


MIsslONERs TO ISSUE BONDS.
la the House Of Representatives, March 5th.
Mr.. HosKINs, (of New York y from
the Committee on Territories reported
back with an amendment. in tho folm
of substitute, the bill I'll. r.. No. 7G7)
to authorize the county commissioners
OF Thurston county, in Washington
Territory, to issue londs for the purpose
of constructing railroad from Budd S
Inlet. Puget Sound, to in!ersect the
North Pacific Railroad at OF near Te-
nino.
The SPEAKER. The substitute will be
treated as an original bill.
The substitute (H. r. No. 2,339) was
read. 1t provides that the county ccm-
missioners of lhurston county, in Wash
ington Territory, he authorized and EN-
powered to contract with any legally
authorized corporation or individuals
to construct and equip railroad from
Budd's Inlet, Puget Sound, to connect
with the North Pacific Railroad at or
near Tenino, all in the said county of
Thurston, and to issue bonds Of Thurs
ton county in aid thereof, which bonds
shall bear interest not exceeding 10 per
cent. per annum, and the principal
whereof shall not exceed 7 per cent. of
the value of the taxable property of the
county, as legally assessed for terri
torial taxation, and shall not in any
event exceed III the aggregate &2C0,-
600; Notwithstanding this sum may he
less than per cent. of such taxable
valuation; and any such bonds in cx-
cess of said I Per cent. of tho terrific
rial taxable valuation of the property Of
the county, or i'll excess of 5000 900 in
the aggregate in any event, shall he
absolutely void; and all persons inter-
estcd ale required to take no,ice thereof.
The county commissioners are author
lied to designate the time and manner
of payment of the principal and inter-
est of said bonds; and also to deter
mine the class and gauge of said rail
road; but no bonds are to he issued
until the full and final completion of
the road; and the county is not to con-
tract with any person, firm, or corpora
ton to construct the road until such
person, firm or company shall enter
into good and sufficient bond in the
penal sum of 500 900, to he secured
by n first mortgage on the road, con-
ditioned that they will operate the road
with passenger and freight trains tor
period of twenty-five years.
The second section of the bill por-
vides that when the county commission
ers shall have agreed upon tho terms
for the construction of the road with
any individual, firm, or corporation,
they shall call special election, at
such time as they may designate, by
causing three notices of such election,
which notices shall embrace the terms
OF the proposed contract, to he posted
for twenty days in each election pre-
cinct of the county, in the most public
places in each precinct, at which elec-
ton the proposed contract shall be sub
mitted to the legal voters of the county.
If two thirds of the votes cast at that
election shall be in favor of the contract,
and such two thirds shall be equal in
number to majority of the votes cast
in the country at the next preceding
election for Delegate to the Congress
OF the United States, then the county
commissioners shall complete the agree
nent and issue the bonds provided for
by this act, but not otherwise. Such
election is to be held at the same places,
and in the same manner, and the re-
turns thereof made and filed with the
same officers, as required in the case of
elections for county officers under the
laws of the Territory.
MIR. RANDALL, (of Pennsylvania. Is
the bill printed?
MIR. HosKINs. The bill as originally
introduced has been printed; but the
su bstitute reported by the committee
has not been printed.
MIR. RANDALL. Then I make the mo-
ton to refer the bill to the Committee
OF the Whole on the state of the Union,
and to have it printed, because it in
voives the very important question
whether the Government of the United
States should force upon county of a
Territory the creation of n debit