Rocky Mountain husbandman. [volume] (Diamond City, Mont.) 1875-1943, 1876-02-24
NORTHERN PACIFIC RAILROAD LAW

tory coupon bonds. for the purposes. and
under the conditions set forth in this act, to
an amount not exceeding three million dol
lars, redcemable ut the pleasure Of the Ter
ritory after ten years, and payable thirty
years from their date, and bearing interest
ut the rate of seven per cent. per annum.
with coupons payable semi-annually at some
place in the city Of New York, to be desig-
mated therein, Psoviaed, That the bonds
mentioned III this section shall not be issued
unless this act shall be approved by a
majority of the qualified electors of this
Territory.
Sec. ?. The bonds authorized by this act
shall be III such form as the Governor NAV
direct, and shall bear the signature of the
Auditor and Treasurer Of the Territory, and
shall be scaled and countersigned by the
Secretary of the Territory, and the coupons
attached shall be signed by the Auditor and
Treasurer; and they shall contain the title
and date OF the passage Of the act under
which they are issued. Each bond shall be
registered in a book to be kept for that pur-
pose, which book shall show the amount of
bonds, their numbers and the date of the is
sue. Said bonds shall be Of the denomina-
ton of one hundred, five hundred and one
thousand dollars !; and the faith of the Ter
1itory of Montana is hereby solelnnly
pledged for the payment of the interest
and the redemption Of the principal thereof.
Sec. 8. For the purpose of carrying into
effect the provisions of this act, the sum of
two thousand dollars, or so much thereof as
may be necessary, is hereby appropriated
out of any moneys in the Territorial Treas.
ury not otherwise appropriated, and for
that purpose placed at the disposal Of the
Governor.
Sec. 4. Said bonds shall be issued only for
the purpose of aiding the construction of the
Northern Pacific railroad within the limits
of this Territory, and in the manner follow
ing:
Sec. 5. The Governor Of the Territory,
with one person from each organized coun-
ty in the Territory, who shall be elected at
the election held for the approval or disap-
prevail Of this act, shall compose a board of
trustees who shall be known and designated
rs the Territorial Trustees of the Railroad
1SUIlus, GHIcc-IOtIlIIs VI WAoHI oiitsil SoAoM~
tnte a quorum, who, by a two-tlirds vote,
are hereby authorized to enterinto an agree
ment with the Northern Prolific Railroad
Company, that the said company shall,
within two years from the date of such
agreement, construct at its WI cost, and
put in operation its railroad from Bismarck,
in the Territory of Dakota, to the Yellow
stone river, at or above the mouth Of Glen
dive creek, in Montana Territory, and also
within three years from the date of such
agreement, and at its W cost, lay rails
upon and put i'll operation an extension of
the said railroad, westward from the mouth
of Glendive creek, three hundred and fifty
miles into the Territory of Montana. And
tor such construction in this Territory the
said agreement shall provide that the said
bonds shall be issued to the said railroad
COMPANY at the rate of nine thousand dol
lars per mile for every section of ten miles
of road which said company shall grade, tie
and bridge westward from the above men-
toned point at or above the mouth OF Glen
dive creek, within three years from the date
of said agreement; Provided, The total
amount of bonds issued for this purpose
shall not exceed the amount specified in sec
ton ] Of this act and said agreement shall
provide that said railroad company shall
pay all interest coupons falling due on Ter
ritorial bonds issued under the provisions of
this act. And the said agreement shall