The Cheyenne daily leader. [volume] (Cheyenne, Wyo.) 1870-1884, 1879-12-14
THE W. M. & P. r. r.
a NEW RAILWAY NoRrnwARp.
Cheyenne's Big BoOm-A Through
Railroad TO the Pacific Coas;
The Bill and Article
of incorporation.


company that is to be, in the near fu-
ture. 1t reads, The Wyoming. Mon
tana and Pacific railroad company. The
LEADER has heretofore stated that the
Union Pacific folks were in earnest in
their intention of having road built
northward. We can say that the bill
which passed in the legislature meets
with their hearty approval, and they
are anxious to begin work at the earli-
est moment.
The following is the full text of the
bill.
A BILL
For an Act to authorize the Board of
County Commissioners of Laramie
County to issue the bonds of said
county to the Wyoming, Montana
and Pacific Railroad Company.
Be ii endctdd by the Council and House
OF Representatives of the Territory OF
Wyoming:
SECTION !. That the board of coun-
ty commissioners of the county of Lara
mie, Wyoming territory, be, and they
are hereby authorized and required to
issue the bonds of the said county of
Laramie to the amount of four hundred
thousand dollars, par value, to the wy
oming, Montana and Pacific railroad
company when the said company shall
have completed and equipped ready for
the running of trains, and trains run
ming thereon, one hundred miles of rail-
road from the city of Cheyenne, in said
county, in a northwesterly direction, by
tl,x IL A.. "a
ry of Montana, and upon such route as
best to facilitate the construction of
branch thereof to the Black Hills, and
shall also have erected at said city of
Cheyenne machine shops for the use of
said Wyoming, Montana and Pacific
railroad at cost of not less than twen-
tytive thousand dollars.
SEC. 2. Said bonds shall be of the
denomination of one thousand dollars
each (par value), shall bear interest at
the rate of eight per cent. per annum;
shall be made payable, principal and
interest, at some place in the city Of
New York, to be designated in said
bonds by said county commissioners.
Said bonds shall be made payable in
thirty years from the date of their issue.
or sooner, rs hereinafter in this act
be registered in tine Office of the county
treasurer of Laramie County, and
countersigned by the treasurer of said
county; shall be signed by the chairman
of the board of county commissioners
of said county. and attested by the
clerk of said county, under the seal
thereof.
Sec. 3. Said bonds shall have coupons
aff hn1 l..
terest on each of said bonds, and said
coupons shall be detached from the
bonds before the payment of the said
coupon, which coupon shall be forth
with cancelled by cutting out with
stamp the word paid, across the face
thereof.
SEC. 4. Said bonds, when issued to
said company in accordance with the
provisions of this act, are hereby de-
clared to be, and are hereby constituted,
valid and binding obligations OH said
county.
SEC. 5. There shall be annually
levied by the board of C ounty commits
sioners of said county, on all taxable
property therein, an assessment sutii-
cient to pay off and discharge the in
terest due on said bonds, and for the
purpose of paying the principal of said
bonds when the same shall become due
and payable, and said tax shall be col
lected in the same manner as other
county taxes, and paid 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 bonds, and for no other purpose,
and if in any year a balance shall re-
main in the hands of the county treas
urer after payment of the principal and
interest due in said year, the same shall
be invested rs n sinking fund for the
redemption of the principal and interest
of said bonds.
SEC. T. The principal and interest
on said bonds shall be payable on the
first day 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 adver-
tisement in some newspaper published
in said county, and also in some news
paper published in the city of New
York, for ten consecutive days, or by
personal notice, that the bonds mum
bering them), will be paid on presenta-
tion at designated place in the city of
New York. If said bonds are not pre-
sented for payment within thirty days
from such personal notice, or the COM
pletion of such advertisement, they
shall cease TO draw interest thereafter.
SEC. s. Said bonds shall be redeem
able after the expiration of ten years,
in amounts to be designated by the
board of county commissioners in
each year, which amount shall not be
less than $4,000 annually, the bonds