River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1876-05-18


tax each year ior the period OF ten years Of
the taxable property OF such municipality, L
pay the interest so agreed TO be- paid, a. Ia,
same becomes due and payable. and IN con.
slderaton thereof the railroad 50 aided shall
immediately upon the payment OF the interest
ny such municipality, pay hack 10 sucn mu-
nlclpalily the amount OF interest so paid by
y, hy TAX upon the property Of such munic-
panty, w the hrst mortgage bonds Of the com
pany, ~ their par value, or IN lawful money
Oh lhe Ohlted states OF America, as the com
pany may elect
section 2 ln all cases when municipal cor
potatiOna AID ~ the construction 81 narrow
gauge railroads by guaranteeing AID agreeing
70 pay the interest on given amount OF the
hfst mortgage bonds OF such company, such
! guarantee aud agreement shall he indorsed on
cac bond 80 guaranteed by them, aud signed
| 10y the proper officers Of such Municipality.
WIN tne corporate seal attached aud no mn-
| hlcipal corporation shall b. held liable for the
| payment OF the interest on any bond issued
~ any railroad company, unless Us guarantee
ann agreement with ~ seal attached is placed
J upon we Dpnd, and in no case shall such mu-
4 hlclpillty be held responsible tor the paymeut
1.-THE principal OF such bond, or any portion
thereof IN consequence OF such guarantee or
| otherwise
section 3. The guarantee and agreement
/ 'lay w Wrllten or printed, or partly written
ana plrtly printed, but shall he signed by the
hahu ana tear the actual signature Of the
| proper "ihcefs Of such municipality; and such
| municipalities ~ are not required by law 10
nave a seal, giving aid 10 narrow gauge rail-
ROADS under this act shall obtain 4 seal, with
the name OF their corporation engraved there.
on and shall am the same 10 their guarantee
ana agreement; and no guarantee or agree
lDent shall be valid except the seal OF tie cor.
! Pot"uoh making the same shall he affixed
Section 4. The agreement between sucb
rallt1d companies and such MUNICIPALITIES
aus'i W arrived 40 as provided in an act en-
/ uueh An act 10 authorize municipal corpoTa.
| tloh5 To AID ~ the construction OF railroads -
! 'pploy'd March Goth, 1872, or al provided 6y
9OVn thtee Ci an act auendstOry thereof
| aPpIosed Mhch 18Th, 1873, AMI IN all cases
"hen malotity Of the voters Of any munici.
| panty IN the site OF Wisconsin shall vote in
aVor OF alfing In the construction of mar.
| iOW-Bauge railroad under this act, or a malpti.
| " OF The Tax payers STALL petition IN favor of
ouch aid 10 accordance with the provisions OF
/ eithef o. The acts referred 10 in this section.
u Hhall be the duty OF the proper officer OF
sueh municipality TO place upon first mort
| gage bond OF such narrow gauge railroad com
pahy the guaranteed agreement OF such mn
licilal corporation in form and substance AZ
heIelhDeiOre provided, TO the given amount
voted or pelltiOned by the voters or tax paw
eis OF such municipality in a city or village
having legally elected treasurer The Of.
ncefs OF such municipality guaranteeing such
| Dohl', shall place the same in the hands OF
It's treasurer, together with the proposition
OF The railroad company asking aid aud il
SHdii " the duiy Of such treasurer, ia whose
iahd' such bonds are placed, to mold them In
ms possession until the railroad COMPANY has
iuliy complied with the conditions upon
Wilon s1ch ald was voted or made;and when the
Iali"tl mas lully complied with the conditions
NoVernlhB 70 tue proposition made by the rail
DAD company tor aid, it shall I've the duty Of
tne treasurer or custodian holding such bonds.
u deliver them to -uUh railroad company ON
~ Oidef, and the treasurer so holuing sand
helds may, before the company has complied
WIN ail the conditions upon which snch
guaranty and agreement was made. accept am
othtr TOR such bonds given by the company
~ patufs Ifom whom they may bny iron, roll
lig stock, OF other material Tor Their road; but
the acceptance shall b. conditional. and the
oondS shall not I've delivered 10 such third
parties until the company las compIied with
the conditions upon which such guarantee or
agreement waa made - Shown by the propo.
si'i9n ct the railroad company to the muuci-
Section o. When towns, townships. or
.pull,ls3 sive ald 70 narrow -guage railroads
/ under THIS act, and place upon the first ,,o,t
gage bonds OF the company their gu,tai,i.,
and agreement to pay the interest on such hr.i
mortgage bonds Tor the period OF ten wear, ,s
herelnhel0Ie provided, such bond ,b.n
Guaranteed, shall be placed IN 10 had. Of
the county treasurer, and he shall b,LItLr
upon the same terms and upsu The sam. .,.t,-
dltlons provided in he lai .rrnlt, tn,,.,ly
aud villa g treasurer
Section o, All homeopathic giving all a.
narrow gusge raiitolds under this at shall
be entitlcd to all the dement's OF the Act 4.
Whlch Tins Is supplementary, tho same 4: II
| lhey had glgen and under the former M
Narrow-suage railroad companies Uel,,.r a.k .
ING ad under this act shall NIX thei, t,Iebt
ana passenger rates Rs provided in .,t,ni,
| thiee of the former act, and munirtt,,ttte.
giving aid under this at shall receive en-
share OF The license or tax money as proyi,led
~ lection OF the act 20 vs. hich This i, .urnle.
mehlarli aud upon the same basis. to-wIt: in
! proportion T. the amount ot bonds each mu.
inequality shall guartuee the PAYMENT Of tbe
interest on rs hrrciuheipre provided. and Ia
tins end u sh'll ls the duty ct the acting clerk
OF any municipality giving aid under III, ael
Z" immediately forward tothc state treasurer !
Schrdulc ~ ihc number and amount III Ionds
SO guaranteed 10y such municipality.
section 2. Thus act shall take feet and Ia.
~ ly'oe from and alter its passage nd publ
Appr,,yeJ Ee t,r,,... ~ -.