Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1882-10-25
NOTICE OF SPECIAL ELEcr1on

by the ''st: Cloud. Mankato & Austin Raiira cd
Company" to the city of Austin, whereof the
following is a co pyopos,r,o.
To the 6 'inmon Council of the city of Aus
tin, and to the City Recorder Of the said city
The 'St. Cloud, MankatO aud Austin railroad
Company" q corporation organized and exis-
ting under the laws of the State Of Minncso-
Of Austin for the issuance aud don s'i et ty
that certain act Of Legislature Of the State Of
tied ::1n act to authorize mun;cipos s ccrp en
tto,.s to aid in the construction Of railroads.
and under the subsequent acts Of said Legis-
bonds of the said city of Austin to the agere-
gate amount of twenty Thousand 10 ,OOO) dol
lars; such bond to be for the principal sum Of
bic in twenty l20) years from January Isl,
A. D., 1883. but with the privilege of paying at
any time after five ~ years from the said
National Bank Of St. Paul, Minnesota to f bear
interest at the rate of six per centum per
year, payable on the first day of January in
annexed thereto, interest coupons for all
such instaliments of interest.
In consideration of the issuance and dona-
ton thereto of the said bonds, the said Rail-
road Company will construct, complete and
put into operation, its line of railroad as fol-
From St. Cloud via. Mankato and Austin, to
the State line ut the southern boundary of
the State of Minnesota, within two years
from and after December 18th, 1882, and will,
in consideration of said bonds, at the election
| Il said city of Austin issue to it such number
of the shares of its capital stock as will at
par value OF such stock correspond with the
principal sum of said bonds.
In case the said railroad company, its sue
cessors or assigns, shall fail to complete the
said portions of the said railroad in the time
| herein provided, it shall forfeit and lose all
right to have and obtain all that portion of the
| said bonds to be donated on account Of the
portion or portions OF the said railroads so
! The said bonds shall be delivered to the said
Railroad Company, its successors or assigns,
When tho railroad of the said St. Cloud,
| MankatO and Austin Railroad Company, shall
| have been constructed with the cars running
thereon from the city of Austin to the State
leased and operated by the Illinois Central
! Railroad company, or some railroad other
than the Chicago, Milwaukee s. St. Paul Rail-
way.
In order to insure the faithful performance
by both the said city Of Austin and the rail
road company OF the foregoing conditions in
sad bonds shall, within thirty (3O) days after
the canvass of the vote authorizing the issu.
ance OF the same be duly executed by the
in the lands Of the President Of The First Ma
tionai Bank of St. Paul, Minnesota, to be de.
livered to the said railroad company, it's sue
| CeSSOES Ut dSSlHuS, aS Qereln PROVIDED, anu
not otherwise; and the certificate Of stock to
be exchanged therefor, shall be placed with
the same depositary at the same time.
But, in case the said railroad company shall
fail to acquire the right to have delivered tc
it any portion, or the whole of the said bonds
by failure to build and put into operation the
said portions of the said railroad, in the time
aforesaid, in such case all such portions OF the
said bonds as the said company shall have 81
failed to perfect its right to have delivered tt
it. shall, upon the demand of the said city Of
Austin. be surrendered to the said city Of
Austin for cancellation.
Dated, October 18th, 1882.
THE ST.. CLOUD, MANKATO AND AUSTIN
| RAILROAD COMPANY.
BY w. T. BONNIWELL, President.
| Attest: J. H. BAKER, Secretary.
Now, therefore, notice is hereby CIV en-, tina
an election will be held at the usual polling
places In each election precinct in the sail
city of Austin, on Tuesday, the 7th day o
November. 1882, beginning ut 9 o'clock A. NJ
and closing 1T o'clock P. NJ, Of that day, 70
the purpose of voting upon the said PROPOSE
| ton.
All voters at said election voting in favo
of the said proposition. must have written o
printed, or partly written and partly printed
, upon their ballots, the words. "FOr the Raj
road Proposition" and all voters At said cleo
tiOn. voting against the said proposition
must have written or printed, or partly writ
ten and partly printed, upon their ballots, tn
words, Against the Railroad Proposition
Dated, October 23d, A. D., 1882.
ROBERT GRIFFITH,
City Recorder.