Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1891-11-21
AN ACT
20 ESoounAoE THE CONSTRUCTION OF A
RAILROAD ACROSS THE STATE OF NEVADA.

RAILROAD ACROSS THE STATE OF NEVADA.
SECTION /. Whenever, after the passage
Of this act, the Utah 4 Nevsds Air Line
Railway COMPANY, 9 corporation hereto
fore organized and now existing under and
BY virtue Of the laws OF the State Of Me-
vada, shall have constructed q frst-olass
railroad Of standard gusge 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, al 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 ompleted 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
i its provisions after that time.
Sec. 2. Immediately upon the receipt by
the Board OF County Commissioners OF
either Of the said counties OF sworn cer-
tifcate 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 % 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 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 90 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
\ l.. - I'LL
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, 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 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 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 al
the rate OF (5) per cent per annum, pay
able semi-annually. and they shall be for
an amount not less than FIVE hundred
ts500) dollars nor more than one thous-
aud lSl ,000) respectively. They shall be
Autographed or engraved, with the
necessary interest coupons attached 10
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.annuslly, on each first day Of
January and each fret 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 ihe Treasures
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, q sum oil
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 and the redemption
OF the principal OF said bonds, shall bs
, placed in Q separate fund to be called the
! Railroad Interest and Sinking Fund.-
which shall be applied: frs.. 10 the pay
ment OF the interest as herein directed
and second, to the redemption OF The
principal OF said bonds as provided II
. this act. IL being the true intent and mean
, ing OF this section OF this ACT that th,
interest and principal OF ell the bondI
/ issued under the provisions Of this ac
shall be paid out OF the revenue derived
: from the respective counties from thl
taxes upon the properly Of the said rail
a road company, less the amount realized
by said counties from the taxes levied tol
. State and school purposes.
: SEQ. 8. Said bonds shall be payable Il
) twenty-five years, and both the interes
and principal shall be paid only q
Q provided in this act.
$ SEQ. 6. The bonds to be issued unde
q the provisions Of this act shall be deliv
: cred to said railroad company by th
: 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 suol
y Board. The interest-bearing coupon
= belonging to and attached to each OF sal
!, bonds shall bear the engraved or litho
grsphed signature of the clerk OF sal
Board Of Commissioners.
SEQ. 7. In case any of the territor
. through which said railroad may be bull
shall hereafter be detached from tb
!. county within which it is now embraced
and such territory added TO some othe
county, the provisions OF this sct respect
Y ing the issuance OF said bonds and thei
g. mode Of payment shall apply to sue
/, county and the officers thereof the sam
as though such county was originally il
II cluded in the provisions hereof.
Of 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 1
n to impair the security OF those who sha
9, hold or purchase any of the bonds In th
act provided, nor during the constructio
II of said railroad after IL has been in goo
faith commenced.
70 SEQ. 8. ALI acts and parts OF acts in col
fict with the provisions Of this act a
1t hereby repealed.