The comet. (Johnson City, Tenn.) 1884-1916, 1889-02-28
The Bond PropOsltiou.

Inc bOnu propositions
The board met at the Office OF the
Recorder at the cali of the Mayor.
The Mayor submitted the applica.
ton ofthe c. G. & @. r. R. Company,
with a plan or map certified by the
Chief Engineer OF said r. r. Co. ask
ing aid by subscription Of $4,000 OF
bonds OF said Town, to the Capital
Stock Of said Il. r. Co, which applica-
ton is in the words and figures follow
ing to wit
The undersigned G. G. & G. r. r.
Co., body polite and cooperate and
chartered under the Laws Of the State
OF Tennessee, submit the following APP
plication for and from the Corporation
OF Johnson City, under the act OF the
General Assembly, OF the State OF Ten
nessee, approved Feb. 18th, 1887, chap
ter 3rd, page 81, and proceeding laws.
The said h. r. Co., proposes to con-
struct a line Of Railroad, standard
gauge, from Charleston, in the State
OF South Carolina, to Ashland, in the
State Of Kentucky. Said r. R. Co.
will locate and construct its line OF
Railroad through the Corporation line
of the town Of Johnson City, Tennes-
see, and through the county Of Wash
ington, within one year from date
hereof.
The undersigned c. G. & G. r. r.
Co., respectfully ask the subscription
Of $4,000 from the town Of Johnson
City, Tenn, to the Capital Stock OF
said Railroad Company payable in
Coupon Bonds of said town Of John
son City, bearing interest at six per
cent. per annum, payable semi annu.
ally. Said bonds to run Twenty years
from the date Of their delivery, as here.
in provided and not bear interest un.
til delivered and until said Railroad
is completed as herein provided, said
bonds to be issued and delivered in
escrow to some Bank Trustee or Trust
Company to be held until the Mayor
OF said Town and the Chief Engineer
OF the G. G. & G. r. R. Company shall
certify that said Railroad Company
has fully complied with its part OF said
contract or undertaking herein enter
ed into and said Bank Trustee or Trust
Company. which may be selected and
agreed upon shall hold said bonds and
turn the same over to the proper Of
ficew Of said G. G. &c. r. r. Compa
ny on the certificate as above provid
ed. When said G. G. & G. R. R. Com
pany shall have constructed and pu
in operation its line OF road from the
line separating the Counties OF Wash
ington and Carter on the Southeast O
said Town to the line separating tn,
Counties OF Washington and Sullivan
on the Northwest of said Town. Sale
road having been located and con
structed through the Town OF johnson
City, then said $4,000 dollars Of Bond
shall be turned over to the officers o
said Railroad Company as above pro
yided.
The G. G. & G. r. r. Company here
with submits a map or plan certified
by the Chief Engineer of said Railroad
Company showing the general direc
tions and line OF said Railroad through
said Town, said proposed line Of road
being indicated by red lines, one O.
the ether c. ;-L: :c. &C TIC TIC Chief Engin
eer Of said Railroad SO may determine
substantially represents the line to b!
constructed by said Railroad Company
Said Railroad Company hereb,
agrees to commence the construction
OF said line of Railroad through saiC
Town, within FOUR MONTHS from dat,
hereof and 20 construct and put in op
peration the line through the Count!
as above set forth within ONE VEAL
from this date, The G. G. & G. R. R
Company agrees to erect and maintain
its Shops for building car sand locomo
tives and the repair OF the same, with
in the limits OF Johnson City Corpora
ton, near where the line OF said Rail
road crosses the track OF the r. T. V
& G. r. r. as the Chief Engineer o
said Railroad may determine the
sight thereof. This proposition
when accepted by said Town and BAT
iified by the voters OF the same shall
be in lieu OF the proposition heretofor,
acted on, proposing to.give $4,000 o
bonds to said Railroad Company.
R. A. JOHNSON,
General Manager.
The Board OF Mayor and Aldermen
accepted the proposition aad have or
dorad on olnot;on "a ha Mold ~ AZ,