Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1881-03-08

q less amount than 500, nor for q greater
amount than 81 900; said bonds shall be
printed with interest coupons attached
thereto; shall express on the face Of both
bonds and coupons, that they are payable
in United States gold coin, subject to the
'provisions and conditions contained in
this Act; shall bear interest at the rate
OF seven per cent per anuum, payable
s~emi-annually; the bonds shall be payable
to the bearer at the Office OF the respec-
tive County Treasurers of said counties
within twenty years from their date; at the
pleasure Of the respective counties, and
pursuant to the provisions Of this Act; the
bonds shall be prepared in proper form
under the direction Of the said Boards of
County Commissioners, shall be signed by
the Chairman Of the Board, and counter
signed by its Clerk, who shall attach the
county seal thereto; the coupons for semi
annual interest shall be signed by the
| Chairman of the Board.
SEC. 6. Immediately after being notified
by the said railroad company of the fulfill
ment Of the conditions upon which said
bonds are to issue, and Of the readiness Of
the company to Issue certificates Of full
paid up stock, as herein provided for, said
Boards of County Commissioners shall
proceed to satisfy themselves, by personal
inspection or otherwise, Of the fact OF the
performance of said conditions, and on
being 30 satisfied shall, without delay,
prepare. issue and deliver the bonds as
herein directed upon the delivery to said
Board Of Commissioners or the paid up
stock; provided, that the certificates of the
Surveyor-G General of the State, or Of the
County Surveyors Of said respective coun-
ties. to the fact Of the fulfllment Of said
conditions by said company, shall be con
elusive evidence thereof to said Commits
sioners.
SEC. 7. The Boards Of County Com
m~issioners of said counties of Eureka and
Lincoln are hereby authorized and directed
to levy and collect annually, at the same
time and in the same manner and form
that other county taxes are levied, a tax
upon all the taxable property within said
counties, to be applied exclusively to the
payment Of the principal and interest OF
said bonds Of said counties Of Eureka and
Lincoln, to be issued as herein provided as
follows For the first two assessment
years, a tax sufficient to pay semi-annually
the interest upon the bonds issued under
the provisions Of this Act, provided that
any surplus remaining from said tax, after
first paying, or providing for said annual
interest, shall be placed in the General
falo VI suAu COuublcbs hnu buio ouaEub VI
County Commissioners are further au-
thorized and directed to levy and collect
annually during the five years next sue
ceeding the aforesaid two years, at the same
time and in the same manner as other
county taxes are levied, q county tax .suffi-
cient to pay semi-annually, the interest due
upon all bonds Of said counties of Eureka
and Lincoln issued in pursuance Of this
Act, together with 81, 500 principal of said
bonds and said Boards of County Com
missioners Of said counties Of Eureka and
Lincoln are further authorized and d.
rected to levy and collect annually, after
said five years, until the whole of said
bonds OF said last named counties, and the
interest thereon, shall have been paid or
provided for, at the same time and in the
same manner as is provided by law for the
levying of other county taxes, a county
tax sufficient to pay sem%i-annually the in
terest due and payable upon all bonds is
sued under this Act, then outstanding and
unpaid, together with the one-thirteenth
1-13) part of the principal of all Of said
bonds outstanding and unpaid at the enc
Of the seven years hereinbefore provided
for.
Sec. 8. The proceeds of said taxes of
said counties of Eureka and Lincoln lex
cept as h~ereinbefore provided for, with re-
spect to any surplus arising during said
first two years over and above the interest
then due and pavable) shall be placed by
the respective County Treasufers Of the
said counties last above mentioned, in a
separate fund, 70 be known as "The Rail-
road Interest and Sinking Fund" and
shall be applied exclusively First-To the
payment of the interest on said bonds OF
said counties of Eureka and Lincoln, as
the same shall become due and second,
to the redemption of said bonds Of the
said two counties in the manner specified
herein.
SEC. 8. Whenever, after the second year
from the issuance Of said bonds Of said
counties Of Eureka and Lincoln, all inter-
est due upon said bonds shall have been
fully paid, and there shall be in either OF
said funds Of said two counties, q surplus
of 81, 900 and upwards, which, upon a fair
estimate Of the receipts which will proba-
bly, come into the same, will not be needed
for the payment of the future interest to
accrue within the next succeeding IA
months, the said respective Boards of
County Commissioner Of said two
ties, after having sscertained the amount
OF said surplus, shall insert an advertise
ment in at least one newspaper published
or circulated in each Of said counties, and
IL one be published therein, then in said
paper for Q period not less than two weeks,
stating the mount 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
| respective Clerks Of said Boards in the
counties of Eureka and Lincoln, on or be-
fore a day certain therein named, at the
| next meeting after said day, the said Boards
"a 1,rvn,aofopar ~ aatd fwo Nonntsao
| shall open such sealed proposals as shall
have been duly filed. 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 NJ offer shall be accepted
| for more than the par value OF said bonds,
and il 40 offer be made to surrender any
Of such bonds, in one or the other OF said
| counties, then the Board Of Commissioners
| of such county wherein no such offer is
made, shall Immediately publish in such
| newspaper aforesaid notice Of such fact,
| coupled with q notification to whomsoever
may be the holder or owner OF the afore-
| said bonds Of such county (that said bonds
| or such portion thereof, commencing with
| the first numbers thereof, unredeemed,
which number shall be specified in such
| published notification) will cease to bear
interest after two weeks from the first pub
| LEGATION Of such notice. After two weeks
publication, as herein indicated, the bonds,
| the numbers Of which shall be properly
| included in such notice, shall cease to
bear interest, and the money referred to
| shall thereafter remain as Especial deposit,
subject to the surrender Of the
bonds aforesaid, and be paid to the person
| 40 s~urrendering said bonds.
SEC. 10. There shall be annually applied
from the revenues Of the county of White
Pine, collected for county purposes, to the
principal of the bonds which shall be issued
by said county as provided herein, a sum
Of money equal in amount to such sum as
NAV he collected by said county, from said