Daily globe., 1881-02-21
ANOTHER BOND BILL.
The Proposed Substitute of the Senate
Judiciary COMMITTEES,

Judiciary Committee.
The Senate judiciary committee, yester-
day, reported the following bill a. sub
stitute for the so-called Chamberlain
propositions:
A bill to provide for the compromise and set
tement of certain disputed claims against
the State, and to apply the proceeds of
the internal improvement lands of the
State in full satisfaction thereof.
WHEREAS, There has for long time existed
and still remain outstanding, certain con-
tested claims against the State, commonly
known as the Minnesota State railroad bonds,
and certain other claims, more particularly re-
ferrcd to and set forth in chapter 152 Of the
special laws OF the year 1867 the validity of all
which claims has ever been and still is disput-
ed by the people Of this State; and,
WHEREAS, Certain holders of such dis
putod clairs have recently made propositions
for the compromise and settlement of certain
of the said claims held by them, which propo
sitions are now pending; and,
WHEREAS, 1t is ROW considered to be desir
able and for the best interests of the State and
of all OF the people thereof that all such propO-
sitions should be trested with fairness by the
State, to the end that all such contested
claims may, if possible, be compromised, set
tied and exlinguished; therefore,
Be it enacted by the Legislature of the State
Of Minnesota:
Section ]. All lands donated to the State of
Minnesota for the purpose of internal improve
mentS and known as the five hundred thousand
acres of internal improvement lands, shall be
sold and disposed of in the manner provided by
law, and the proceeds therefrom shall be sp-
piled to the purpose Of taking up and satisfy
ing the scrip to be issued under the provisions
of this act.
bo II ho1l, r.
| the so-cale1 Minnesota State railroad bonds
| may surrender the same with the coupons at
| tached to the secretary of state al any time,
and the secretary of state sha! on request al
| any time after the submission of this act to
and its approval by the people, as in this act
provided, issued to the respective owners, hold
| ers of such bonds SO deposited, with all cou-
| pons, script recting therein the time of the
surrender OF such bond, its number and the
! name of such owner or holder, and that he Is
| entitled TO receive from the proceeds derived
| from the sale and disposition of the said in
| ternal Improvement lands the amount of the
| principal sum of such bond so surrendered.
| with interest thereon at the rate of four per
| cent from the date of the surrender of the
| bonds, payable semi-annually. and that prin-
| cipal and interest are payable,on out OF the
| proceeds of said Internal improvement lands,
which shall be construed as including
the funds and securities already
| derived, as well as such as shall hereafter be
derived from said internal improvement lands,
and said scrip shall be receivable in payment
of said internal improvement lands.
Sec. 8. Whatever proceeds of said internal
Improvement lands remain after satisfying the
principal sum of all such bonds in the manner
in this act provided, shall be applied proper
tionatcly to all of said Minnesota State rail-
roads so issued as aforesaid.
See. 4. The claims or judgments of Nc
Donald d Graham and of Fltz Grindale e.
Keepers, rs recognized and set forth in chap
ter l5s on page 3SS of the special laws of 1867,
and all claims hereinafter specified shall be
regarded and treated the same as an equal
amount of said bonds. There shall be com
| mission appointed by the governor consisting
OF three dislnterested persons, who shall ex-
anime all claims presented by persons who did
the work or furnished supplies or material for
the building of the roads for which such
bonds were issued, and which were never paid
for and which claims are evidenced by some
ordef, acceptance, book account or other
writing, and they shall report to the governor
such claims as are found to be valid and un.
paid, ana there shall be issued scrip therefor
in tie same manner as hereinbefore provided
for said bonds, and for all the purposes of this
act shall be deemed such bonds and treated in
the same manner But no claim shall be re-
ceiyed or allowed for which any Of said bonds
VIZ t1SuC", no' ioi any supplies, laDOr or
material which were not actually used in the
location or construction of said roads,
Sec. .. This act shall be submitted to vote
OF the people for their approval or rejection
at the next general election in November, 1881.
The ballots for the adoption OF this act shall
be For giving the proceeds of the internal
Improvement lands in full payment of the
Minnesota railroad bonds, yes The ballots
against the adoption of this act shall be the same
forBi, except mo" in the place of ''yes' The
return of the election On the question shall be
made and the result ascertained in the same
manner provided by law for the election of
State officers Ii a majority shall have voted
for the measure, the governor shall make
proclamation of the adoption of this act, and
thereafter the provisions shall be carried into
effect.
Sec. .. This act shall take effect and be in
force from and after its passage.