Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1891-04-11
NUMBER 32.
AN ACT
TO ENCOURAGE THE CONSTRUCTION OF A
RAILROAD ACROSS THE STATE or NEVADA.

RAILROAD ACROSS TIE STATE OF NEVADA.
SECTION 1. Whenever, after the passage
OF this act, the Utah a Nevads 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 Q frst-olass
railroad Of standard guage through the
counties OF White Pine. Eureka, Lander.
Churchill and Washoe. or either OF them.
10 shall be entitled 10 receive the bond Of
said counties. or either Of them, at the
time and in the manner hereinafter pro-
vided. 20 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.
Sec. 2. immediately upon thereceipt BY
the Board OF County Commissioners Of
either OF the said couoties Of D esworn GER
tificate Of the County Surveyor Of such
county, or OF such Q 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 part OF continuous line OF rail-
way then in course OF construction as
herein before specified, Ii shall be the duty
of said Board OF County Commissioners OF
such county, and they are hereby directed
Immediately 10 take such action as may be
necessary TO prepare, TO Issue and TO de-
liver $50, 900 OF the bonds OF said county
provided for in this act TO said railroad
company; and thereafter as each success
"a bal haaa
been completed and ready 10 receive the
rolling-stock 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, al 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
ton OF twenty miles such bonds shall be
issued at the rate Of three thousand dol
lars per mile; provided. that no bond:
shall be issued under the provisions OF
this act after the lapse Of five years from
the date OF It's 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
| the rate OF (5) per cent per annum, pay
| able semi annually. and they shall be for
an amount not less than five hundred
t$5OO) dollars nor more than one thous-
and Isl ,000) respectively. They shall be
| Autographed OF 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 10 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 frat day Of July subse-
| auent to 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
cen 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
10 the psymeut OF the interest and the
principal of said boRde which shall have
been issued from said county, q sum o
money equal in amount to tho sum which
shall be collected from said county from
said Utah and Nevada Air Line Railway
Company, from the taxes levied upon tht
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 SO applicable to the pay
ment OF the interest and the redemption
| of the principal OF said bonds, shall b,
placed in q separate fund to be called th'
:. Railroad Interest and Sinking Fund,
which shall be applied: first, 70 the pay
| ment OF the interest as herein directed
and second, to the redemption OF th,
| principal OF said bonds as provided II
,, this act. il 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 40
shall be paid out Of ths revenue derived
from the respective counties from th
taxes upon the property Of the said rail
road company, less the amount realizes
by said counties from the taxes levied TO
! State and school purposes.
Sec. s. Said bonds shall be payable Il
twenty-five years, and both the interes
and principal shall be paid only q
! provided in tbis 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 Q
, ! the Board and shall bear the seal Of sue
Board. The interest bearing coupon
! | belonging to and attached TO each OF sal
! bonds shall bear the engraved or 1.-the
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 il Is now embraced
and such territory added to some othe
county, the provisions Of this act respect
) ing the issuance OF said bonds and thei
mode OF payment shall apply TO sue
county and the officers thereof the sam
as though such county was originally in
cluded in the provisions hereof.
Q Sec. 8. The faith Of the State of Nevad
is hereby pledged that this act shall neve
= be repealed nor SO modified in any way q
s to impair the security of those who sha
hold or purchase any of the bonds in thi
: act provided. nor during the constructio
OF said railroad after il has been in goo
faith commenced.
D Sec. 8. All acts and parts Of acts 10 cor
fiict with the provisions of this act al
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