Bozeman avant courier. [volume] (Bozeman, Mont.) 1872-1882, 1876-02-04
COu1NClL BILL No. Al.
An Act to Encourage the Construction OF tne
Northern Pacific Railroad in the Territory
Of Montana.
RI TT ENACTED BY THE LEGISLATIVE AS
eEMBl.Y OF THE TERRITORY OF
MONTANA.

l
tory of Mo tana is hereby authorized AM
instructed to issue ON the credit Ut 'h''
Territory. coupon bonds for the purpose
md un.Ier the conditions sci forth in this
Act. 10 an amount not exceeding three
million five hundred thousand dollars
($3, 500, OOO) payable in twenty-five years
from their date. and bearing interest at 'ht
rate Of eight per cent. pr "il""m. wiz
coupons payable semi-annu lily ut some
place in the City of New York. to be &c
signated thereon.
Sec. 2. The bonds authorize ny TIL:
Act shall lie in such forms rs the Gov RI
or If tie Territory may direct. aud shall
bear the sis, atur.s Of the Auditor and
Treasurer Of the Territory. and shall 1t
sea led and countcrsigned by the Secretary
of the Territory, and H.. c0ul'O sattach''1
shall be slgned hy the Auditor and Treas
urer. Each bond shall be registered in a
book t. be kept for that purpose. which
book shall show the amoun's OF G0nds
their numbers. aid the date Of the ls-ue
Said bonds sanli bc If the denomination
Of one hundred and five hundred, and one
Thousand dollars Zach; and the faith oil
the Territory OF Montana is hereby SOLE mn
lily pledged for the payment Of the interest
and redemption Of the princlp'l thereof.
Sec. 8. For the purpose Of carrying H.
to effect the provisions Of This Act, tn
sum of two thousand dollars. or so much
thereof rs may he necessary. ls hereby up
propria,ed uut Of any mo eys in the Ter
rltoriul treasury moi otherwise appr0pr'a-
ted, and for that purpose placed NJ the
disposal Of the Governor.
SEC. 4. Said bonds shall be issued only
for tn: purpose u al ling the construction
of the Northern Pacifi,; II .ilro ID With.
the limits Of this Territory, and in the
IN inner following:
SC 8 The Governor Of this Territory.
thu President of the Council and the
Speaker of The House Of Represent at yes
of this Territory, ora majority Ut item,
are hereby authorized to enter INTO an
agreement with the Northern Pacific Rail-
road C"mIany. t"at the said Company
shall. within TWO years from the date of
such agreement. construct ut its own cost
and put in operation its railroad from Bis
marck. in the Territory Of Dakota. to the
Yellowstone RIVER, AZ or above the mouth
Of Glentllve Greek, in Montana Territory.
and also within three years from the date
of such agreement. aud at its own cOst.
lay rails upon and put in op' rat ion such
cx cnsion 1T the said Railroad into the
Territory of Montana. three hundred and
fifty miles, "r so much thereof ~ the Ter.
ritory shall under the provisions of this
Act furnish ten thousand dollars of hpnds
pr mile for grating. ,i'ing au1 bridging,
rs they shall receive At the RATE uf ten
thousand dollars l$l0,0Oo) per mile If the
bOn'ls hereby authorized. And for such
il this Territory the said
sgr, ement shalt provide that the s.,dI
10 DIS shall he issued IL sai.! = .ilroadI
Comp my at the rate of ten thousand dol.
.rs per mile for very section of twenty
niles of road which sa Company shall
grade, tie and bridge. westward from
'bove mentioned point at or above the
mouth If GlcnIive Creek within ,arecI
'ears from The date of such agreement.
Provided, the total amount Vi bonds issued
or this purp"-e shall lot ex. ed The
mount specified in Sec. l. Of this Act.
And said agreement shall provide that
al Raj road Company shall pay nll inter.
st coupons FALLING due up to the time Ut
h. complet'o" anal putting i"tp opera, ion
i all the road for which Territorial bonds
hall be issued under The troy isions Of this
Act. And SAIL agreemt mt shall further
ovi''e that from aud aft. r The opening
1 said ex,ensio" for public use, the said
. lr'"d Comp my shall pledge all of its
arni"gs on that portion of its railroad b..
Ne Bismarck and the terminus of said
'esterly ex,ensio" from business origin
Ds or terminating in Montana, 10 protec,
nd Jay the said bonds and coupons. AndI
'r this puipose The said Railroad Com
my shall SENT annu lily deposit with the
armsr's Loan and Trust Company, in The
~ OF New York, the wh"ls. Of said earn.
'gs, or 50 much thereof as may be suffici-
u u redeem the said coupons 10 they fall
ne. aud such further smOun! 20 will.
18th accumulating interest, constitute al