River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1885-01-01
PROPOSITION,

said town has been duly delivered TO the town
clerk thereof by the Chicago, Freeport q st.
Paul Railroad Company, which proposition is III
the words and figures following, VIZ:
PROPOSITION,
The Chicago Freeport q St. Paul Railroad
Company u railroad corporation duly organized
under the laws Of the states OF Illinois, Nlseol-
sin and Minnesota, hereby makes the following
proposition to the town OF Martell in the county
Of Fierce, state of Wisconsin, VIZ:
FIRST That said town subscribe to ana fof
One Hundred IOO) shares of the Capital stock OF
said railroad company, of the par value OF one
| Hundred Dollars per share.
SECOND That said town shall fully pay for
said shares of stock so subscribed for by duly
| issuing and delivering to said railroad company
| its Municipal Bonds TO the aggregate amount OF
Ten Thousand $1,000 Dollars IN denominations
of $500 each dated ON the LIST day of July, A. ID.
| 1885, and payable in the current money OF the
United States to said railroad company or 10 tne
! bearer thereof on the list day OF july, A. D. 1910
| or at the option OF said town, ON the list DAY o.
July ofany year prior thereto; each OF sald Donus
to bear interest from date at the rate OF SIX PEI
| centum per anuum, payable semi-annually III
current money of the United States and eV1dene-
| ed by interest coupons thereto attached paya Il
to said Railroad company or bearer, on the Ilrsl
| DAYS of January and July i'll each year; both
| principal and interest being payable at the Oh
| ice OF the American Loan and Trust Company
| in the city ofNeW YORK, -.
| THIRD, That in consideration OF the due &C
eeptance of this proposition, and the due execu-
| ton; issue and delivery of said bonds OF sald
| town TO said railroad company, sald railroad
| cOmDanV hereby agrees anu itocll W ASou
and deliver to said town one Hundred (lO0) tuIl
paid shares of its capital stock, OF the par value
| OF One Hundred Dollars per snare when sald
stock shall not be liable to any lurtner pay IeAts
| or assessments whatever
| FOURTH That Immediately upon the accept
ance of this proposition by said town, ITS proper
officers shall subscribe for said stock upon tne
| books of said railroad company, ana shall dulS
| execute ISSUE and deposit i'll escrow, with H.
| Halyorson of said town as trustee, all OF salo
/ bonds; and that said railroad company snalI, al
the same time, issue and deliver to the stld trus
tee the certificates for the said full PAID snares
of its Capital Stock; and that when the railroad
| of said railroad company shall have been com
| pleted and in operation by the passage OF carr
| continuously from the terminus thereon at Free
| port ILL.,, northward to its depot IN the Town o.
| MARKELL county of Pierce, state OF WISCONSIN, al
any time within three years from the date OF TINS
| proposition said trustee shall thereupon, ano
| not before or otherwise denver all OF salu toWl
/ bonds after having first detached therefrom and
| DESTROYED all interest coupons thereon when
| shall have become due to said railroad company
and all of said stock certificates 10 inc salq toWn
| Provided, diWaus, that when said railroad shal
| have been completed aforesaid, SAID toWn
| may at its option redeem said bonds by paying
| the amount OF the principal thereoI III casn y
'" FIFTH The dtliycry Of said bonds, or in
| ease the same are redeemed as aforesaid, the
said sum of money in lieu thereof, TO sald rail-
| road company, shall be a full and complete pay
| ment for said stock and said town shall NOT DC
| subject to any assessment or further uaDlLly
/ whatsoever on account OF Its acceptance OF thls
| proposition
| SIXTH In case said trustee refuses to act, re-
| moves from the state, resigns or becomes other
| wise incapacitated, the town board OF sald toWn
| and said railroad company may agree upon an
other trustee to act in his steadi ana N case OF
1 their failure SO to agree such other trustee may
| be appointed by the Judge OF the CIRCUIT Cour'
IS SEVENTH, The said town bonds shall not be
| valid in the hands of said railroad company, or
| of any other person or corporation, until the
said line of railroad shall be completed as above
| provided; and if the same shall not be SO COM
| pleted within three years from the date hereof.
| then the agreement TO this proposition, ana ali
| bonds and stock certificates deposited III escrow
in pursuance thereof. shall thereupoh De anu De-
| come absolutely null and VOID
| EIGHTH Said railroad company snail not
| be consolidated with, nor lease or purchase, or
| be leased or purchased by nor in any way De
| controlled by, any other railroad corporation
| which controls parallel or competing line OF
| railroad. -, 49,,
| lisb and maintain one or more depots IN sara
town at such point or points upon lts line OF
railroad as viii best accommodate the people,
In TESTIMONY WHEREOF, Inc salu rallIoau
company has caused TINS prOpOsltlon
to be signed by its President and Sec
rotary, and its corporate common non
Seal to be hereunto affixed, TINS 1Oth
day Of December A. d. lso4
THE CHICAGO, FREEPoRr, AND ST
SEAL PAUL RAILROAD COMPANY. -.,,.
49, BY w. o. WRIGHT, President.
Attest. NJ H. WILCoXoN, Secretary.
Now TtEREFoRE We, the undersigned being
actual residents of said town, VINO were eaen
assessed for taxes upon real OF personal estate
therein as shown by the last ass smeht ron
thereof do hereby respectfully pray mat sald
nroposition may be accepted by SAID town, ana
carried into effect; and as in duty bound your
petitioners will ever pray,