The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1879-05-23

SHARES OF one hundred collars each, max
ing a total subscription of one hundred
thousand dollars, and in payment there
for issue and deliver to said railroad CON-
pany the bonds of said county to the
amount of one hundred thousand dollars,
payable principal and interest, at the ifs
cal agency for the State of Kansas in the
city of New York, in thirty years after
the date thereof, with the privilege re-
served to said county of paying the whole
or any part of said bonds at any time
after five years from the date thereof, and
with the further privilege reserved to
said county of paying cash for and re-
deeming the whole or any part of said
bonds at the time of delivery thereof as
hereinafter provided, at the rate of 50
cents for each dollar of the face value of
said bonds so paid for and redeemed !;
said bonds to be issued in denominations
of five hundred dollars each. and to draw
interest ut the rate of 3 per cent. per an
mum, payable annually, from the date of
their delivery to the railroad company,
and not before, and all interest coupons
matured or about to mature at the date
of said delivery of the bonds to be can
celed and returned to the county; said
bonds to be issued in consideration of the
construction, operation and maintenance
of SAID railroad through said county as
an Independent line, IIRcORnected toith the
road bed or track Of any other railroad IN
said cOdnty; and as part of this prop
osition for the purpose of securing the per-
mdleRt location, establishment and main
teIaGRce Of the principal machine, repair
and manufacturing shops and the general
offices Of said railroad company at EDapO-
ria, in said county, shall the said board
of county commissioners transfer to said
rai cor N N 10 h1n
and dollars of its capital stock subscrib-
ed for and taken by said county; said
subscription and transfer of stock and is
suance of bonds to be upon the follow
ing conditions:
list. Immediately after the PROPOSE
ton is voted by the people of said coun-
ty and the result of the election duly as
certained and declared, said subscription
to the capital stock of said railroad CON-
pany shall be made, and the said bonds of
the county shall be duly executed by said
board of county commissioners accord
ing to law, and deposited in escrow with
the fiscal agents of the state of Kansas at
the fiscal agency of said state in the city
of New York, or with such other party
as may be mutually agreed upon by and
be satisfactory to the said board of coun-
ty commissioners and said railroad COM
pany, and said bonds shall remain in pos
session of their custodian aforesaid until
delivered upon the certificate of said
board of county commissioners as here
matter provided; and at the same time the
SAID railroad company shall duly execute
one thousand shares of one hundred dol
lOrs each, and place the same in escrow
at the same place to the same party to
whom said bonds shall be entrusted as
aforesaid, in whose possession said stock
shall remain until its delivery as here
matter provided.
I'd The said Kansas City, Emporia
and Southern railroad company or their
assigns, shall construct and equip, as
aforesaid, and have in operation, a rail-
road of a gauge of three feet, so con-
structed as to form one continuous, indie
pendent and unbroken line of railroad
communication from Emporia in said
Lyon county to Arkansas City in Cow
ley county, within eighteen months from
the commencement of work on said road,
as hereinafter specified, and from Empo-
ria to the eastern line of said county of
Lyon within two years from the CON-
mencement of first work on said road ;
said road to be constructed in a substan-
tial manner, and the equipments thereof
to be first-class, and sufficient for the
| traffic of the road and the work of the
construction thereof to be commenced
within thirty days after the deposit of
SAID bonds IN escrow, as aforesaid, and
the voting of bonds and their deposit in
escrow by the several counties along the
line of said railroad from said county OF
Lyon to the southern boundary of the
state along either division of said road
to the amount of four thousand dollars
per mile for each mile of the line of said
road, and said work to be continued un
interuptedly from the commencement 10
the completion thereof.
Sd. No part of said bonds shall be is
sued and delivered to said railroad com
pany, nor in any manner disposed of by
the party holding them in escrow, nor be
OF any binding force or validity upon said
county until the track of said railroad
shall be laid and trains running thereon
from the city of EmpOria to the point
where the line of the road crosses the
south or west line of said county of Lyon
and the machine shops and general Offices
Of said company shall haze been permd
Hentiy located at EmpOrid, but when the
railroad has thus been completed from
the city of Emporia to the south or west
line OF said county, and toheh the princi-
pat machine. repair and manufacturing
shops and the general Offices Of said rail
road company hdce been permanently To-
Gated at Emp0rid and said railroad com
pany shall have entered into a sufficient
written agreement with said board OF
county commissioners for the permanent
continuance and maintenance of said
shops and offices at Emporia, and when
said railroad company shall have entered
into sufficient written agreement with
said board of county commissioners Ia
complete and equip said road to the east
line of said county, within the time above
specified, and to establish and maintain
a depot and side-track within one fourth
mile fthe TOWNSHIP of NeoshO Rapids
in said county of Lyon, and said facts OF
the completion of said road to the west
ern or southern line of the county, the
location of SAID shops and Offices at EN-
poria and the due execution of the con
tract for their perpetual maintenance al
Emporia, and the due execution of tbs
contract for the completion and e0uin
ment of said road to the eastern line 81
the county, and the establishment and
maintenance of said depot and side
tracks, as aforesaid, have been certified
J by said board of county commissioners
} TO the custodian of said bonds, the sale
custodian shall deliver to the said rail
road company or its assigns an amour
! of said bonds and stock equal to foul
thousand dollars per mile of the road 81
constructed; and when said railroad
: shall have been completed from Empo
. ria to the east line of the said county O
; Lyon, by the way of the town Neosh,
Rapids, the line of said road to be within
: one-fourth of mile of said town, and /,
; depot and side-track established a
aforesaid, and that fact has beencertifies
! to the custodian of said bonds and stool
: as aforesaid, and all the conditions cor
e corning said shops and offices shall hav
, been fully complied with, then the sal
f custodian shall deliver to said railroa
: company the remainder of said bonds an
lstock."