Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1891-04-25
NUMBER 81,
An ACT
TO ENCOURAGE THE CONSTRUCTION OF A
RAILROAD Acnoss THE STATE on NEVADA.

RAILROAD AcRoss THE STATE OF NEVADA.
SECTION 1. Whenever, after the passage
Of this aot, the Utah q Nevada Air Line
Railway Company, corporation hereto.
fore organized and nov existing under and
By virtue Of the laws OF the State OF Ne
vada, shall have constructed . hrst-class
railroad Of standard guaee through the
counties OF White Pine, Eureka, Lander,
Churchill and Washoe. or either Of them.
II shall be entitled 70 receive the bond OF
said counties. or either Of them, ~ the
time and in 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 Eve
years from the date Of the approval Of this
act, and no bonds shall be issued under
its provisions after that time.
Sec. 2. immediately upon thereceipt BY
the Board OF County Commissioners Of
either OF the said counties Of Q sworn GER
tifcate OF the County Surveyor Of such
county, or Of such . certificate OF the
surveyor-G 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 is part Of continuous line Of rail-
way then In course Of construction %
herein before specified. 10 shall be the duty
of said Board Of County Commissioners OF
such county, and they are hereby directed
Immediately 20 take such action as may be
necessary 10 prepare, to issue and 70 de-
liver s60. 900 Of the bonds Of said county
provided for in this act TO said railroad
company; and thereafter as each success
i've twenty miles Of railroad shall have
been completed and ready 10 receive the
rolling took in such county, and the same
shall be shown by the certificate Aforesaid,
the said board shall issue and DE-
liver TO said railroad company the bonds
Of said county, 81 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 neces-
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 twenty 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 i've years from
the date Of Its approval, and no portion
of said railroad not then completed shall
receive any bonds from said counties, or
Sec. s. Said bonds shall bear interest ~
the rate OF (5) per cent per annum, pay
able semi annually. and they shall be for
an amount not less than fve hundred
(S5OO) dollars nor more than one thous-
and Isl ,OOO) 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 70 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-annually, on each first day OF
January and each fret day Of July subse-
| ouent 10 the issuance of such bonds. and
upon the first day Of each January and
July thereafter, until all 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 ct the time and in accordance
with the provisions Of this sct.
SEQ. 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, Q sum ol
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 go applicable to the pay
| ment Of the interest and the redemption
of the principal Of said bonds. shall bt
| placed in separate fund to be called the
!. Railroad Interest and Sinking Fund.-
| which shall be applied: first, 10 the pay
ment OF the interest as herein directed
and second. to the redemption Of tht
| principal of said bonds as provided ir
this act, 10 being the true intent and mean
ing OF this section of this act that thu
interest and principal OF all the bond
issued under the provisions Of this &C
, shall be paid out OF the revenue derived
from the respective counties from th'
taxes upon the property Of the said rail
road company, less the amount realizet
J by said counties from the taxes levied fo
State and school purposes.
twenty-five years. and both the interes
and principal shall be paid only .
| provided in this act.
Sec. 6. The bonds TO be issued unde
the provisions of this act shall be deliv
cred 10 said railroad company by tn
Board OF County Commissioners OF tn
| respective counties named. They shall b
signed by the chairman and the clerk o
the Board and shall bear the seal Of sucl
Board. The terest-bearing coupon
belonging 30 and attached 10 each Of sal
bonds shall bear the engraved or lithe
graphed signature of the clerk OF sal
Board Of Commissioners.
Sec. z. In case any Of the territor
through which said railroad may be bull
, shall hereafter be detached from th
county within which ID Ia now embraced
and such territory added TO some othe
county. the provisions Of this aet respect
ing the issuance OF said bonds and thsi
mode OF payment shall apply 10 suel
| county and the officers thereof the sam
6 though such county was originally In
Guided In the provisions hereof.
See. 8. The faith of the State Of Nevsd
. Is hereby pledged that this act shall neve
, be repealed nor so modified in any way q
to impair the security OF those who shal
hold or purchase any OF the bonds in thi
act provided, nor during the construction
OF said railroad after II has been in goo
faith commenced.
SEQ. 8. All acts and parts OF acts in con