Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1881-01-21

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Board of Commissioners, or the Chairman
thereof, of said certificates OF fully paid
up stock provided. that the certificate OF
the Surveyor General Of the State, or OF
the County Surveyors OF said respective
counties, to the fact Of the fulfllment OF
said conditions by said company, shall be
conclusive evidence thereof to said Com
missioners.
Sec. 7. The Boards OF County Commits
sioners OF said counties are hereby author
lied and directed to levy and collect an
nually, at the same time and in the same
ann and form that other county taxes
are levied a tax upon all the taxable prop
erty within said counties, to be applied ex-
clusively to the payment of the principal
and interest OF said bonds to be issued, as
herein provided, as follows For the first
two assessment years, a tax sufficient to
pay s~emi-annually the interest upon the
bonds issued under the provisions of this
Act provided, that any surplus remain
ing from said tax, after first paying or
providing for said annual interest, shall be
placed in the General Fund of said county,
and said Boards of County Commissioners
are further authorized and directed to levy
and collect annually during the five years
mex succeeding the aforesaid two years, at
the same time and in the same manner
IS other taxes are levied, a county tax suf-
icient to pay semi-annually the interest
due upon all bonds issued in pursuance Of
this Act, together with seven thousand five
hundred dollars principal Of said bonds ;
and said Boards Of County Commissioners
are further authorized and directed to levy
and collect annually, after said five years,
until the whole Of said bonds, and the in
terest thereon, shall have been paid or pro-
vided for, at the same time and in the
same manner as is provided by Law for the
of other county taxes, a county tax
to pay ~semi-annually the interest
due and payable upon all bonds issued I'M
this Act then outstanding and unpaid,
with the one-thirteenth (1-13)
part of the principal of all of said bonds
outstanding and unpaid at the end of the
seven years hereinbefore provided for.
Sec. 8. The proceeds Of all said taxes
Except as hereinbefore provided for, with
to any surplus arising during said
two years over and above the interest
then due and payable) shall be placed by
the respective County Treasurers of said
counties in q separate fund, to be known
as 1.-THE Railroad Interest and Sinking
and shall be applied exclusively /:
a AAbtr W n pay vi tHG lhtClOob I'LL
said bends, as the same shall become due
and second, to the redemption Of said
bonds in the manner specified herein.
Sec. 8. Whenever. after the second
gear from the issuance Of said bonds. all
interest due upon said bonds shall have
been fully paid, and there shall be in said
fund a surplus of one thousand dollars
and upwards, which, upon q fair estimate
Of the receipts which will probably come
into the same, will not be needed for the
payment of the future interest to accrue
the next succeeding twelve months,
the said several Boards of Commissioners,
having ascertained the mount of
said surplus, shall insert an advertisement
in at least one newspaper published or cir
in each Of said counties, and if one
be published therein, then in such paper,
for a period of not less than two weeks,
the amount OF money on hand to
be applied to the purchase OF said bonds,
and inviting sealed proposals to surrender
the same, to be made and filed with the re-
Clerks Of said Boards, on or be-
fore a day certain therein named. At the
next meeting after said day, the said
of Commissioners shall open such
sealed proposals as shall nave been duly
fled, and to the extent Of the amount
named, shall purchase the bonds so offered,
giving the preference in all cases to the
bidder who shall offer to surrender said
bonds at the lowest price; provided, that
no offer shall be accepted for more than
the par value Of said bonds; and il no offer
be made to surrender any of such bonds
in one or more of said counties, then the
Board of Commissioners OF such county
wherein no such offer is made, shall imme-
publish in such newspaper afore-
notice of such fact, coupled with a
to whomsoever may be the
holder or wner of the aforesaid bonds of
such county that said bonds or such por-
ton thereof, commencing with the first
numbers thereof, which numbers shall be
in such published notification
will cease to bear interest after two weeks
from the first publication of such notice.
two weeks publication, as herein in
the bonds, the numbers OF which
shall be properly included in such notice,
shall cease to bear interest, and the money
to shall thereafter remain as a
deposit, subject to the surrender of
the bonds aforesaid, and be paid to the
person so surrendering said bonds.
Sec. 10. Whenever said railroad com
pany shall tender or cause to be rendered,
to either or each Of said counties, or to the
Chairman Of their or either Of their
Boards of County Commissioners, or offer
to surrender any Of the bonds Of said
county issued in pursuance of this Act,
and thereupon said Board may, or
may not, as the best interests Of said coun-
ty may seem to warrant, surrender and
to said company the stock Of said
company issued to said county in pursu-
a mao haranf an,a1 IL, =, IL, ~ 4Ha knNla
Of said county so surrendered to it by said
company, and said bonds shall be consid-
cred paid by said surrender thereof, and
shall be cancelled by the Clerk of said
and said company is hereby author
lied to take and receive such stock so
transferred to it by said county, aud to
hold the same as the property Of said com
pany.
Sec. IL. The respective Boards Of
Commissioners Of said Eureka,
White Pine and Lincoln counties, for and
on behalf Of said counties, shall receive all
dividends, issues and profits arising
from such subscriptions to said capital
stock, and shall set apart and transfer the
to the said Railroad Interest and
Sinking Fund " herein provided for, to be
applied to the payment Of the interest. on
the bonds issued as herein provided, and
the redemption of the principal thereof, in
the manner provided in Section 3 Of this
Act; and after the full payment of said
bonds and the interest thereon, the said
dividends. issues and profits arising from
such stock subscriptions shall be applied as
follows, o-wit: one-half thereof to the
School Fund of said county, and the other
half to the General Fund thereof.
Sec. ~. The faith OF the State of Ne
vada is hereby solemnly pledged that this
Act shall never be repealed nor SO modified
as in any way to impair the security Of
those who shall hold or purchase any OF the
bonds herein provided for.
The Jackson House Boom.
We took a run down to the depot yes
terday and found the warehouse of that
corporation nearly filled to the rafters with