Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1891-04-04
NUMBER 81.



SECTION 1. Whenever, after the passage
OF this act, the Utah & Nevada Air Line
Railway Company, corporation hereto
fore organized and now existing under and
by virtue Of the laws OF the State Of Ne
vsda, shall have constructed hrst-class
railroad Of standard guage through the
counties OF White Pine. Eureka, Lander,
Churchill and Wsshoe, or either Of them.
10 shall be entitled 70 receive the bond OF
said counties, or either OF them, at the
time and In the manner hereinafter pro-
yided, to the amount Of 5000 per mile
for each and every mile OF she main track
OF said railroad completed In said county;
provided, that said railroad shall be COM
pieted and in full operation within i've
years from the date OF the approval Of this
act, and no bonds shall be issued under
it's provisions after that time.
Sec. 2. 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 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 10 receive the rolling
stock, and that said section OF twenty
miles is part OF 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 to prepare, TO issue and TO de-
liver SEQ, 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-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 tho bonds
OF said county, ~ 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 bonds
shall be issued under the provisions OF
tAis 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
the rate OF (5) per cent per annum, pay
able semi-annually, and they shall be for
an amount not less than five hundred
$4,000 dollars nor more than one thous-
and f$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 70 the provisions
| and conditions contained in this act.
| Both bonds and coupons shall be payable
I TO bearer, and the interest thereon shall be
| paid semi annually, on each frst day OF
| January and each fret day OF July subse.
| auent to the issuance OF such bonds. and
| upon the irst 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 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 thu
principal of said bonds which shall have
been issued from said county, sum o
II m00eV
shall be collected from said county from
ssid Utah and Nevada Air Line Railway
Company, from the taxes levied upon thu
entire property OF said company In SAID
/ county, less the amount OF taxes vhicl
| NAV 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, shali b
| placed in q separate fund to be cai,ad th'
q Railroad In terest and Sinking FunS,
which shall be applied: first. TO 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 all the bondi
issued under the provisions OF this aci
shall be paid ont 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 fol
State and school purposes.
SEQ. s. Said bonds shall be payable ir
twenty-five years, and both the interest
and principal shall be paid only si
| provided in this act.
Sec. 6. The bonds to be issued under
| the PROVISIONS Ot tulb act buhii DO uciiS'
cred to said railroad company by ths
Board OF County Commissioners Of the
respective counties named. They shall b.
signed by the chairman and the clerk Of
the Board and shall bear the seal of sucf
Board. The interest-bearing coupons
belonging to and attached to each Of said
bonds shall bear the engraved or litho
graphed signature Of the clerk of sait
Board of Commissioners.
SEQ. z. In case any OF the territory
through which said railroad may be bull
shall hereafter be detached from tn,
county within which il 10 now embraced
and such territory added to some Other
county. the provisions Of this act respect
ing the issuance of said bonds and theil
mode OF payment shall apply to sucf
county and the officers thereof the same
as though such county was originally In
cluded in the provisions hereof.
Sec. 8. The faith Of the State Of Nevada
is hereby pledged that this act shall never
be repealed nor so modified in any way Al
to impair the security OF those who shall
hold or purchase any of ihe bonds in thii
act provided, nor during the construction
OF said railroad after il has been in goot
faith commenced.
Sec. 8. All acts aud parts OF acts in con
| dict with the provisions OF this act ar,