Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1891-08-29
NUMBER So:
AN ACT
70 KsooURAeK THE CONSTRUCTION OF A
AAILRoAp ACROSS THE STATE OF NEVADA.


SECTION 1. Whenever, after the passage
Of this act, the Utah a Nevada Air Line
Railway Company. corporation hereto
fore organized and now existing under and
by virtue OF the laws OF the State Of Ne
vsds, shall have constructed 3 hrst-class
railroad Of standard guage through che
| counties Of White Pine. Eureka, Lander,
| Churchill and Washoe, or either Of them,
| 10 shall be entitled 70 receive the bond Of
said counties. or either Of them, ~ the
| time and Ia The manner hereinafter pro-
vided. to the amount OF 5000 per mile
| for each and every mile OF the main track
Of said railroad completed In said county;
| provided, that said railroad shall be com.
| pleted and in full operation within FIVE
years from the date OF the approval OF this
| act, and no bonds shall be issued under
| its provisions after that time.
SEQ. q. Immediately upon thereceipt by
the Board OF County Commissioners Of
either OF the said counties OF sworn GER
tificate Of the County Surveyor OF such
| county, or OF such 9 certificate OF the
| Surveyor General Of the State Of Nevada.
| setting forth that twenty miles OF such
| railroad as herein mentioned have been
| built and completed by said company and
In proper condition to receive the rolling
| stock, and that said section Of twenty
| miles 10 q part OF a continuous line Of rail-
| way then in course OF construction as
herein before specified, 10 shall be the duty
| Of said Board OF County Commissioners OF
| such county. and they are hereby directed
| Immediately TO take such action as may be
| necessary 10 prepare, TO Issue and 10 de-
liver $50. 900 of the bonds of said county
provided for in this act TO said railroad
| company; aud thereafter as each success
i've twenty miles OF railroad shall have
been completed and ready 10 receive the
rolling-stock In such county, and the same
shall be shown by the certificate aforesaid 1.
| the said board shall issue and de
| liver TO said railroad company the bonds
OF said county, AZ the rate Of sixty
thousand dollars In bonds for each section
OF twenty miles thus completed in said
county, and in case the last section neoes-
sary to complete the whole length OF the
| road in said county shall not amount to
twenty miles, then for such fractional sec-
tion OF TWEEN ty miles such bonds shall be
| issued at the rate of three thousand dol
| lars per mile; provided, that no bonds
shall be issued under the provisions OF
this act after the lapse OF five years from
the date Of Its approval, and no portion
| of said railroad not then completed shall
receive any bonds from said counties, or
either Of them in aid Of Its construction.
| Sec. 8. Said bonds shall bear interest at
/
| able semi-annually, and they shall be for
an amount not less than five hundred
| ($500) dollars nor more than one thous-
and ($l ,000) respectively. They shall be
| Autographed or engraved, with the
necessary interest coupons attached to
each, shall express upon their face that
they are payable In gold coin Of the
United States. subject TO the provisions
and conditions contained In this act.
Both bonds and coupons shall be payable
to bearer, and the interest thereon shall be
paid semi-annuslly, on each first day OF
January and each first day Of July subse-
quent TO the issuance Of such bonds. and
upon the first day Of each January and
July thereafter, until ell interest payable
on the same shall have been extinguished.
Both the interest and principal OF said
bonds shall only be paid by the Treasurer
Of the county from which they may have
been issued at the time and in accordance
with the provisions OF this act.
Sec. 4. In each OF the counties from
which bonds may be issued under and by
virtue of this act. there shall be annually
applied from the revenue OF such county
to the payment Of the interest and The
| principal OF said bonds which shall have
been issued from said county, o sum OF
money equal In amount to the sum which
shall be collected from said county from
said Utah and Nevada Air Line Railway
Company, from the taxes levied upon the
entire property OF said company in said
county, less the amount Of taxes which
may have been levied on and collected
therefrom for State and school purposes,
and the amount 80 applicable to the pay
ment OF the interest aud the redemption
of the principal Of said bonds, shall be
placed in q separate fund TO be called tht
" Railroad Interest and Sinking Fund, Z"
, which shall be applied: first. 10 the pay.
ment OF the interest as herein directed,
and second, to the redemption Of the
principal Of said bonds as provided In
, this act, IL being the true intent and mean
ing Of this section Of this act that the
interest and principal OF ell the bonds
! issued under the provisions Of this act
shall be paid out Of the revenue derived
from the respective counties from the
taxes upon the property Of the said rail-
road company, less the amount realized
by said counties from the taxes levied for
State and school purposes.
: Sec. 5. Said bonds shsli be payable in
twenty-five years. and both the interest
and principal shall be paid only a.
: provided in this act.
Sec. 6. The bonds to be issued under
|, the provisions Of this act shall be deliv-
! cred to said railroad company by the
) | Board Of County Commissioners Of the
: respective counties named. They shall be
. signed by the chairman and the clerk of
. the Board and shall bear the seal of such
v Board. The interest bearing coupons
belonging to and attached 10 each OF said
bonds shall bear the engraved or litho-
grsphed signature of the clerk Of said
Board OF Com missoners.
SEQ. 7. In case any OF the territory
through which said railroad may be built
shall hereafter be detached from The
county within which it Ia now embraced,
= and such territory added 10 some other
y county. the provisions Of this act respect
Y ing the issuance of said bonds and theii
! mode Of payment shall apply to sucf
\ county aud the officers thereof the same
' as though such county was originally in
y cluded In the provisions hereof.
Sec. 8. The faith of the State OF Nevadi
ia hereby pledged that this act shall never
be repealed nor so modified in any way a.
to impair the security OF those who shal
hold or purchase any of the bonds In thii
+ act provided, nor during the construction
Il OF said railroad after ID has been in goo(
10 faith commenced.
SEQ. 9. ALI acts and parts OF acts In con
e nfNk with the nroviaiona of thia Ant ar,