The Cheyenne daily leader. [volume] (Cheyenne, Wyo.) 1870-1884, 1877-12-08
THE NEW RAILROAD BOND BILL.

A Bill IOr An Act 10 auInOTlLe anu
Empower the Board of County Com
missioners of Laramie County to
Issue the Bonds of Said County to
the Colorado Central Railroad Com
pany, and for Other Purposes.
Be 1t enacted etc.:
SECTION /. That the board of
County Commissioners of Laramie
County, Wyoming Territory, be and
are hereby authorized and empowered
to issue the bonds of the said county to
the amount Of one hundred and fifty
thousand dollars to the Colorado Cen
trail Railroad Company, for the purpose
Of aiding and assisting said railroad
company in the building and construct
ing its line of.,railroad from Longmont,
in the State of Colorado, to the City of
Cheyenne, in said Laramie county, or
of operating with its line of railroad,
in connection with the line Of railroad
of the Union Pacific Railroad Com
pany, a continuous line of railroad from
said Longmont to said Cheyenne,
making said City Of Cheyennethe north
ern and eastern terminus of its said
line of railroad, and running all pas
senger and freight trains to and from
the line Of said Union Pacific Railroad
to and from said City of Cheyenne,
upon the conditions hereinafter pro-
vided.
Sec. 3. That the said boud shall
be issued forthe sum of n
hundred dollars each, which
bonds shall be made payable in
twenty years from the date of their
issue, or sooner, as hereinafter in this
act provided; shall bear interest at the
rate of eight per cent. per annum; shall
be regularly numbered from one 10 one
Thousand five hundred, inclusive, and
before being issued shall be registered
in the office of the, County Treasurer of
Laramie county and countersigned by
the treasurer of said county, and shall
be signed by the chairman of the board
of County Commissioners Of said Lara
mic county, and attested by the County
Clerk Of said county, under the seal
thereof.
SEC. 3. Said bonds shall have cou-
pons attached, representing eight doll
lars, as the annual interest on each of
said bonds, and said coupons shall be
detached from the bond before the pay
ment of said coupon, which coupon
shall be forthwith cancelled by cutting
out with n stamp the word paid"
across the face thereof.
SEC. 4. The County Treasurer of
said county shall keep a book in which
shall be registered all of said bonds,
showing the number of the bond, the
date of issue, to whom issued, the
amount, date Of redemption, and pay
ment of interest, which book shall be
open to the inspection of any and all
persons desiring to inspect the same
during business hours.
SEC. 5. There shall be annually
levied by the Board of County Com
missioners of said county, on all tax
able property therein, an assessment
sufficient to pay Off and discharge the
interest due on said bonds, and also on
any other bonds issued under the pro-
visions of this act, and for the purpose
of paying the principal of said bond
when the same become due and payable,
and said tax shall be collected in the
anne manner as other county taxes,
and pasd into the county treasury
by the collector of taxes.
SEC. 6. The said tax shall be pay
able only in the lawful money of the
United States, and shall be used in
paying the principal and interest on
said county bonds, and if, in any year,
a balance shall remain in the hands of
the County Treasurer after payment of
the principal and interest payable in
said year, the same shall be transferred
to the general fund in the treasury.
SEC. Z. The interest and principal
on said bonds shall be payable at the
county treasurer's office, in said county,
on the first and succeeding fifteen days
Of January in each year, as the said
principal and interest may become due,
and it shall be the duty of the County
Treasurer to notify the holders of the
bonds to be redeemed, by advertise
ment in some newspaper published in
said county, for ten consecutive days,
or by personal notice, that the bonds,
numbering them, giving amount and
to whom issued, will be paid on pre-
sentation to the County Treasurer. If
said bonds are not presented within
thirty days from such personal notice,
orthe completion of such advertise
ment, they shall cease to draw interest
thereafter.
SEC. 8. Said bonds shall be re-
deemable after the expiration of ten
years, in amounts of fifteen thousand
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