The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-03-18

,, -rRrsrIxc KAuRoAD LEGISLATION TO
4. ..u,xn-Thc senate Yesterday passed
...i in arthor!Z" the city OF kichtnohd 10
..-,prialr II 900. 900 IN bonds 10 be used
-. -l1tu, subscriptions or assisting IN the
,..u..y,,,.tron o. railroads designed 10 con-
,... ..,. CAt>apcAkc and ONO railroad WIN
',.,,s.,,rr >I-i,m Of road. These bonds
.r..l no, vc taken into account III estimating
.... .,.3abtrdnc>> OF this city IN reference 10
81. amt now prescribed 10y lis charter. The
&. .r.Iptioa OF tue bonds shall not be made
,.. The sense OF the qualified voters has
f. : taken, rs authorized by the present
!,~. -,
IA. Senate yesterday passed bill au
i..,Ing the city Of Richmond to subscribe
{. 10000 in bonds to the Richmond and
I.,>. Allc.heny Narrow-Gauge railroad, il
l..,,.rd cXpcdicnI by the Council. The re.
Is >lal! bc a<certainCd according TO The
,.,,i,ioDs OF the city charter. The Trans.
A..-aany Company is authorized in this
b..i, contract with any existing railroad
terminating in Richmond for temporary or
,..r,r,lnrnt use Of It's track from any point OF
'.,.., ,.,..iyu Of said railway. Tue sub>crip-
,..u under this nc; shall constitute II special
l.bilHy ut the city Of Richmond, not 10 be
cos. .dclcd or taken aS part OF the eighteen
Z,rr cent! II the Assessed VIuc OF pro-
Jrr.y il. the crv. which under the present
charter iS the limit Of the city's Indebted
p,-.. bat shall bccXcludcd from the eighteen
r.. cent computation.
\ bin Vas also pu>,td in this body author.
ilir. the James River and kfnawha Com
l4uN 10 execute 4 mortgage aud 10 subscribe
- The capital stock oi the Buchanan anu
,atcon Forg" Railway CompIny. and to au-
,Hor.yc thr city vf Richmond 10 guarantee
-utu subscription in whole or i'll part. This
hiil ltNhOrlZ the president and directors oil
the .Iainc> River Company 10 execute mort
--l... 10 secure 4 loan 10 an amount not cX-
-,Glur the sun Of $50. 900. The company
u4y >utscrihr to the capital stock. OF the
E4,iiauan and Cl,ron Forge Railway Com
lul. and authorize tire city OF Rchmond
~ guarantee tn" piy ment OF the bonds which
m, hr Issued Under said mortgage, or t.
.f.rrruic. the payment OF interest on sait
bonds or to Exchange the bonds Of the city
for the bonds 10 Ne issued under said mort
gn... or uus part. upon such terms rs ma!
t,. agreed upon between this city and the
James River and k4nawna Company.
Before these bonds are guaranteed, how
ever. the sense 0! the qualified voters o
Richmond halt be taken on tue subject AND
The bonds are guaranteed (ant they shall
to u,..d Tor no other purpose than that men
TONED in lbc hlIj the city may exceed The
I!uilt imposed on i> bonded or intcrest-bear'
in, debt. and shall not be taken into account
IN estimating the debt IN reference TO the
,,-l'rru per cent limit.
Ihr kindred Till TO the abovc--viZ.. to au.
iaor ze the formation OF the Buchanan and
clifton Forge rallway-has already passed
t.t4 HOUSES Of the General Assembly. Ii
l;uiGrs that the city Of Richmond, the
! lt,ur~ River and h4nawha Company, and
r,.,r>, may construct railroad from solut
,uIui at or near Buchanan 70 some point OF
;A,. Chesapeake aud Dhio ratrOad 1t or nc;lI
Htpn Forge. The capital stock of the com
,r.uy shall be- 81 ,OO0,UU 10 be divided into
sn4rrs of Sl9O each.
Subscriptions 10 the capital stock OF th'
r,luptny may be made by individuals, or by
al, rtuuty. city. OF incorporated town, cX
c,lt the cIty OF Norfolk, in the mannc
Irr>rribcd hy chapter Gl Of the Code OF 1873
notwithstanding >ucn SUBSCRIPTIONS, IN lh
cas-. rt :. city or incorporated town, may cX
cd the lilnlt Of indebtedness now prescribed
s, llW. or by The respective charters oil SAT-
,itlr, and Incorporated towns; and sucl
Subscriptions shall not be taken into accoun
III ,.-Iinatlng tn" Indebtedness Of such mu
r..Gp.l corporations in reference 10 the llDl
Of indebtedness now prescribed by their re
rr"trivc charters.
he rullrold is 10 be commenced within
t"o and completed within five years iron
ii- passage OF this act.