Rocky Mountain husbandman. [volume] (Diamond City, Mont.) 1875-1943, 1876-03-02
NuRsH AND SOUTH RAILROAD LAW.
BE IL xseStssf by the Legislative assembly O.

Section 4. That for the purpose of aiding
in the construction Of a railroad to run from
Franklm III the Territory of Idaho, to and
into the Territory Of Montana by way of the
moufh of tlae Big Hole river to White Tail
Deer creek, the sum Of one million, one hun
.dred and iiffy thousand dollars is hereby
-rontfibtafed NV The Territory Of Montana, to
he paid ja eOtlloon bonds of said Territory.
In the manner and IN the terms provided
IN this acis provided, that none of said
bonds shall beSexecuted by the Territory,
or delivered ia any corporation, person or
persons, for aaay purpose whatever, except
uponsthe terms and in the manner provided
In this acts
Sec. =. SacfNrailroad shall be built from
the said town Df Franklin, along and over
the most practical route by the way of the
mouth Of the Big Hole river to the mouth of
White Tail Deer creek, in the said Territory
of Montana, and shall be built of good and
substantial material, and of Il gauge not less
than three feet in width, and not more than
four feet eight and one-half inches in width.
Such railroad shall be finished so that a 10
connective and train of cars can pass over the
same from said town OF Franklin to the
terminus aforesaid, within two years from
the time that any contract shall be entered
into and executed by any company, corpora
ton, or association, under and in accordance
with the provisions of this act.
Sec. 3. The bonds that may be issued UNI
der the provisions of this act, shall be coupon
bonds of the Territory of Montana, payable
at the city of New York, in the State of
New York, twenty years from the date of
their issue, and redeemable at any time after
ten years from their date, at the pleasure of
said Territory. Said bonds shall bear inter
est at the rate of seven per ccntuln per an
mum, shall be dated on the day of issuance
and delivery thereof, and shall draw interest
from the date thereof. There shall be at
tached to each bond a coupon for each in
stallment of interest thereon, and the inter
est shall be due and payable on the first OF
January of each year at SAID city of New
York. Said bonds shall be signed by the
Treasurer and Auditor of said Montana Ter
ritory and shall be countersigned by the Sec
rotary of said Territory, and when thus is
sued shall be delivered by the Treasurer of
said Territory to the person or persons,
company, corporation, or assocition OF per-
sons contracting to construct said railroad in
accordance with the provisions of this act,
or to his, its, or their order.
Sec. 4. The bonds herein provided for to
be issued by the Territory OF Montana, shall
be procured by the Auditor of said Terri
tory, and he shall nave the same engraved
ut the lowest possible cost which shall be
paid out Of the general fund of said Ter
ritory, by warrant drawn upon the Terri
torial Treasurer. Said bonds shall be of the
denomination of ISL ,0o0) one thousand
dollars.
Sec. 8. The railroad herein provided for
shall be constructed by the corporation or
association of individuals undertaking the
same in two sections, as follows The first
section to extend from the town of Franklin
aforesaid, and terminate on the line of the
said road at the present southern boundary
line of Montana Territory. The second sec
ton of said road shall commence at the
northern terminus of the first section Of said
road as herein designated, and shall extend
to the terminus of said road at the mouth of
the White Tail Deer creek aforesaid, and
shall be known as Section No. 2.
Sec. 6. The corporation or association of
individuals who shall accept the terms of
this act, and undertake the construction of
said railroad under The provisions hereof,
shall not be entitled to receive any of the