River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1885-04-23

Notice is hereby given to all whom it may con
Germ, that after the 18th day of May, A. ID. lSS5a
Petition to the Town Board Of said town, pray
port IL st. Paul Railroad Company TO SAID town
may be accepted by said town and carried into
ers thereof for their signatures.
Said petition, embracing a copy OF SAID propo-
sition, is hereunto appended and made part OF
Dated at my Office this 10th day of April A. D.
1885. S. BROWN Town Clerk.
PETITION.
To the Town Board of the Town of Spring Lake,
in the County of Pierce, State of Wisconsin:
Whereas definite Proposition in writing to
said town has been duly delivered to the Town
Clerk thereof, by The Chicago, Fresport d st.
Paul Railroad Company, which Proposition is in
the words and figures following, viz;
PROPOSITION.
The Chicago, Freeport & ST. Paul Railroad
COMPANY a railroad company duly organized
under the laws OF the states OF Illinois, Mlscon-
sin and Minnesota, hereby makes the following
Proposition to the Town of Spring Lake IN the
County of Pierce, State of Wisconsin, viz;
FIRST, That said Town subscribe to and for
Fifty $50 shares of the Capital stock OF SAID Kali
road 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 It's
Municipal Bonds to the aggregate amount OF
Five Thousand 5000 Dollars III denominations
of $500 each, dated on the LIST day of July, A. ID.
1885 and payable i'll the current money OF the
United States to said Railroad Company or to the
bearer thereof, on the LIST day OF July, A ID; 1900
or at the option of said Town, on the LIST day OF
July of any year prior thereto; each OF said
Bonds to bear interest from date at the rate OF
six per centum per annun, payhDle semi -dIhu,
ally in current money of the United States, and
evidenced by interest coupons thereto attached,
nayable to said Railroad Company or bearer, on
the LIST days of January and July IN each year;
both principal and interest being payable al the
office of the American Loan and Trust Company
in the City of New York.
THIRp. THAT in consideration of the due accept
ance of this Proposition, and the due execution,
issue and delivery of said Bonds OF sald IoWn 10
said Railroad Company, said Railroad Company
hereby agrees and binds itself to issue and de-
liver 10 said Town. Fifty go full paid Shares of
its Capital Stock, of the par value OF One hun
bred Dollars per share; which said stock snail
not be liable to any further payments or assess
ments whatever.
| FoURTH. That Immediately upon the accept
ance of this Proposition by said Town. its proper
officers shall subscribe for said stock upon the
books of said Railroad Company, ana snail duly
/ execute issue, and deposit in escrow, with John
| A. Martin of said town as trustee, all of said
| Bonds and that said Railroad Company shall,
at the same time, issue and deliver to the said
| trustee the certificates for the said full paid
| shares of its Capital Stock; and that when the
railroad of said Railroad Company Shall have
| been completed and in operation by the passage
| of cars continuously from the terminus thereof
! at Freeport Ill., northward TO Its depot III the
Eau Gala river valley i'll the Town OF Spring
n 81
any time within three years from the date of this
Proposition, said trustee shall thereupon, and
not before or otherwise deliver all OF said Town
Bonds (after having first detached thereirom and
DESTROYED all interest coupons thereon which
/ shall have become due) to said Railroad Compa-
nv and all of said Stock Certificates to the said
| Town; PROVIDED, always, that when said rail
road shall have been completed as aforesaid,
/ said Town may, at its option, redeem said Bonds
| by paying the amount of the principal thereof
1 in cash to said Railroad Company,
- delivery Bonds.
1 the same are redeemed rs aforesaid the said sum
/ of money in lien thereof, to said Railroad Com
panv shall be full and complete payment for
/ said stock, and said Town shall not be subject
TO any assessment or further liability whatsoever
on account of its acceptance OF this PROPOSE
ton.
! moves from the State, resigns or becomes other
wise incapacitated, the Town Board OF said Town
/ and said Railroad Company may agree upon
another trustee to act in his stead ana IN case
of their failure so to agree, such other trustee
I NAV be appointed by the Judge of the Circuit
Court for said county.
valid in the hands of said Railroad Company, or
of any other person or corporation, untll the
said line of railroad shall be competed as ABOVE
| provided; and if the same shall not be so COM
pleted within three years from the date hereot,
then the agreement TO this Proposltlon- amp
ali Bonds and Stock Certificates deposited in
escrow in pursuance thereof, shall thereupon be
and become absolutely null and void.
In Testimony Whereof, the said Railroad Com
pany has caused THIS proposition
10 be signed by its President and
Secretary and its corporate COM
mon Seal to be hereunto affixed,
TsEAL1 this 10th day of April, A. d. 1885.
THE CHICAGO. FREEPoRT g. ST.
PAUL RAILROAD COMPANY,
By w, O. WRIGHT, President.
Attest: NJ H. WucoxoN Secretary.
| Now therefore. We the undersigned, being
| actual residents Of said Town, who were each
assessed for taxes upon real or personal estate
therein. as shown by the last assessment roll
thereof. do hereby respectfully pray that said
Proposition may be accepted by said Town, and
carried into effect: and as in duty bound your
petitioners viii ever pray. o@1Sw