The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1891-03-28
SENATE BILL NO. IS.


state TO the Western boundary
Thereof.
The following bill, introduced by
Senator Comins, passed both Houses
of the Legislature, received the Gov
ernor's signature and is now law:
Section l. Whenever after the pas
sage of this Act, the Utah and Ne
vada Air Line Railway Company, a
corporation heretofore organized and
now existing under and by virtue Of
laws of the State of Nevada, shall
have constructed first-elaSs railroad
of standard gauge through the eoun-
ties of White Pine, Eureka, Lander,
Churchill and Washoe, or either of
them, it shall be entitled to receive
the bonds of said counties, or either
of them, at the time and in the man
ner hereinafter provided to the
amount of three thousand dollars per
mile for each and every mile of
the main track of said railroad
completed in said county: pro-
vided, that said railroad shall be COM
pleted and in full operation within
five years from the date OF the APP
proval of this Act, and no bonds shall
be issued under its provisions after
that time.
Sec. 2. Immediately upon the re-
ceipt by the Board of County Com
missioners of either of said counties
of sworn certificate of the County
Surveyor of such county, or of such
certificate of the Surveyor General
of the State of Nevada, setting forth
that twenty miles of such railroad as
is 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 continu-
Gus line of railway then in course OF
construction as hereinbefore specified,
1t shall be the duty of said Board of
County Commissioners of such
county, and they are hereby di-
rected Immediately to take such
action as may be necessary to prepare
to issue and to deliver sixty thousand
dollars of the bonds of said county
provided for in this Act to said rail-
road company; and thereafter as soon
as each successive twenty miles OF
railroad shall have been completed
and ready to receive the rolling stock
in such county, and the same shall
be shown by the certificate aforesaid,
the said Board shall issue and deliver
to said railroad company the bonds
OF said county, at the rate Of sixty
thousand dollars in bonds for each
section of twenty miles thus conn let-
ed In said county, and in case the last
section necessary TO complete the
whole length of the road in said
county shall not amount to twenty
miles, then for such fractional section
of twenty miles such bonds shall be
issued at the rate of three thousand
dollars per mile; provided, that no
bonds shall be issued under the pro-
visions of this Act after the lapse of
five years from the date of its ap-
proval, and no portion of said rail-
road not then completed shall receive
any bonds from said counties. or
either of them, in aid of its construc-
ton.
Sec. 3. Said bonds shall bear inter
est at the rate of five 90 per cent.
per annum, payable semi.annually,
and they shall be for an amount not
less than nve hundred nor more than
one thousand dollars, respectively.
They shall be Autographed or engrav-
ed, with the necessary interest cou-
pons attached 10 each, shall express
upon their face that they are payable |
In gold coin of the United States,
subject to the provisions and condi-
tons contained in this Act. Both
bonds and coupons shall be payable |
to bearer, and the interest thereon
shall be payable semi-annually, on
each first day of January and each |
first day OF July subsequent to the |
issue OF said bonds, and upon the |
first day of each January and July |
thereafter, until all interest PAYABLE |
upon the same shall have been ex-
Both the interest and |
of said bonds shall only be
paid by the Treasurer OF the county
from which they may have been is
sued at the time and in accordance /
with the provisions of this Act.
Sec. A. In each of the counties |
from which bonds may be issued un-
der and by virtue Of this Act. there |
shall be annually applied from the
revenue of such county to the pay
ment of the interest and the principal |
OF said bonds which shall have been
issued from said county, sum of
money equal in amount TO the sum
which shall be be collected bv said |
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