The Superior times. [volume] (Superior, Wis.) 1870-1912, 1879-03-15
Published February ~, 1879.
GH PIER IL


AN ACT to enable Douglas county to com
promise the litigation concerning its out
standing bonds, and to use a portion of the
same to accomplish the purpose for which
they were issued.
Whereas, the county of Douglas i'm 1872
issued to the Superior and ST. Croix Railroad
Company three hundred and fifty onds, of
said county, Of one thousand dollars each, to
aid in the construction Of railroad in said
county and, whereas, subsequently, seventy
sve Of said bonds were delivered to t e firm
Of NalbrIdge Bros Il Sargent, contractors
to construct said railroad, and two hundred
and seventy fve Of said bonds were placed in
the hands Of the First National Bank of Madi-
son Wisconsin, as trustee 10 hold the same on
certain conditions; and whereas a Prosract-
ed litigation has been going on in the courts
between said county of Douglas and said
firm Of Waibrdge Bros & Sargent and other
parties, defendants, in relation to the title
and ownership Of said bonds, which litigation
Is about TO be mutually arranged and COM
promised upon such basis th,t said two
hundred and scventr-fiye of said bonds are
to be returned to said county to be cancelled,
but that such compromise depends upon OBJ
tanning authority from the legislature to use
fifty OF said sey. nty five bonds delivered to
said firm, for the purpose of aiding in the
construction of a railroad in said county
hereafter; now, therefore,
The people OF the state OF Wisconsin, reprc-
seuted in senate and assembly, do enact as
follows:
Section l. Upon the deposition by the
said firm Of Walbridge Bros Sargent, with
the present chairman of the board of suaer-
visors of said county as trustee, within forty
days from the taking effect of this act, of
achtfd a fdi'T hQeq755s zat6 t6 ell 9h& nn6 q
bands Of said firm, 1t shall be the duty of
saiI board OF supervisors, as early as they
may deem expcdient, and within the present
year to submit TO the qualified voters ct
said county a proposition, in substance as
follows: That said fifty bonds shall be de
Hyered by said trustee to such railroad com
pany rs shall, on or before a day to be
named in said proposition, not less than two
nor more than three years from tie passage
Of this act, have completed and made ready
iGr use railroad within the county of Doug
las, from the bay of Superior to the Mime
sofa state line, either on or near the line To-
Gated by the Superior and st Croix railroad
company equal in quality to the Northern
Pacific IA Iroad at the time of its coustguc-
ton, and a like road from said state line to
connect with the Northern Pacific railroad IN
Carlton county, Minnesota, in exchange for
like amount of TIE stock of such cnmpany;such
bonds not to be delivered until such Ioad is
completed ard cars running thereon, adequate
for the demands Of business on the road all
the coupons of said bonds falling due prior
TO such delivery 10 be cut off by said trustee,
and car celled in the presence of the said
board
Section ,. It shall be the duty Of the coun-
ty clerk of said county, upon the order and
direction Of the county board, 10 cause to be
published in a newspaper published in said
county if there be one and to post up in at least
three public places in said county, notice
that a special election will be held in said
county at the usual place or holding cleo
tions, upon day 10 be mentioned in said
notice, not less than fifteen days after the
posting of said notices, and publication, if
there be one; at which election the qualified
electors shall vote upon the proposition men
u ned III the preceding section, which prop
OsitIoH shall be substantially set forth in said
notice. Votes cast at such election in favor
Of such proposition shall be oy ballot, with
the words For using bonds for railroad"
Votes against such proposition shall be by
ballot with the words Against using bonds
lOI IdiifDd', "ItltGli VI pIlilttu LiEitOlI
Section 3. Such election shall be con
ducted Il d the result thereof canvassed, GER
titled and published in like manner az is pro-
vided by law in the case of a special election
for the election of county officer, so far as
such provisions may be applicable.
Section 4. II majority Of the votes at
such election shall be cast in favor of such
proposition, it shall be the duty Of the trus-
tee having custo Y of said fifty bonds to
safely keep the same and to deliver them,
less the coupons required to be crt off, to
, the railroad company which may be entitled
. thereto by compliance with the provisions OF
the first section OF this act, in exchange for
a Ike amount of the stock of such company.
Section ;. If majority OF the votes cast
at said election shall be against the prupO-
stion to Use bonds for a railroad, the said
trustee shall Immediately cancel and destroy
said fifty bonds and coupons of the same in
the presence of the board Of supervisors Of
said county, and if the majority Of the votes
shall be in favor of said proposition, ana no
company shall become entitled TO said bonds
BY a compliance with the provisions Of this
act, then the said trustee shall cancel and
destroy the said bonds and coupons in like
manner
Approved February 20, 1879.
MES RARDON