Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1892-07-23

70 ENCOURAGE THE CONTRIBUTION OF A
RAILROAD ACROSS THr srArr or xxyApA


sEcrros 1. Whenever, after the passage
o. Ibis sot. the Utah & Nevada Air Line
hallway Company. corporation hereto
fore organized and nov existing under an 4
by virtue OF the laws Of the State Of Ne
vada. shall have constructed . frst-elass
railroad OF standard susee through The
counties OF White Pine. Eurska, Lander,
Churchili and Washoe, or either Of them,
IL shall be entitled 70 receive the bond oi
said counties. or either Of them, q the
time and in the manner hsrsipaftsr pro-
vided, 10 the amount OF 5000 per miIs
for each end every mile Of the main track
OF said railroad completed In said county:
provided, that said railroad shall be con.
pieted and in full operation Within ave
years from the date Of the approval Of shis
sct, and no bonds shall be issued undee
It's provisions after that time.
sec. .. Immediately upon ths receipt b.
the Board OF County Commissionefp q
either Of the said counties Of . sworn cer-
tifcste Of the County Surveyor Of sueh
county, or OF such . certificate Of the
Surveyor General of the State OF Nevada.
setting forth that twenty miles Of such
railroad % herein meu tioned have been
built and completed BY said company snd
In proper condition TO receive the rolling.
stock. and that said section Of twenty
miles 10 part Of cor ntinuous line Of rail-
way then In course Of construction q
herein before specified. IL shall bs the duty
OF SAID Board Of County Commissioners q
sucn county and they are hereby dirsctsa
immediAtsly 70 take sush action e may b.
necessity " prepare. 70 issus and 70 Do.
iver eeo. goo OF ths besas sf ssid county
pfoviasa Tor 10 this sst 10 said railroad
companyi and thereafter - saoh spscess-
I've twenty miles OF railroad shall have
been conpletsd and ready 70 rsceive She
rolling-stock In such county. and the same
shall be shown BY the certificate aforesaid
the said board shall issue and Dc
liver 10 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 neoes :
sary to complete the whole length OF the
road in said county shall not amount to
twenty miles, then for such fractional SEQ.
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 Eve 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.
SEQ. 8. Said bonds shall bear interest d
the rate Of (5) per cent per annum, pay
able semi annually. and they shall BE- for
an amount not less than five hundred
($500) dollars nor more than one thous-
and 81 ,000) respectively. They shall be
or engraved. with she
necessary interest coupons attached TO
each. shall express upon their face shss
they are payable In gold coin Of the
United States. subject 70 the provisions
and conditions contained In this cot.
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 first day Of July subss-
quent to the issuance Of such bonds. and
upon the first day Of each January aud
July thereafter. until all interest payable
on the same shall hsys been extinguishsd.
bonds shall only be paid By the 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 ths
principal Of said bonds which shall have
been issued from said county, . sum Of
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 30 applicable TO the pay.
ment Of the interest and the redemption
Of the principal Of said bonds. shall bs
placed In . separate fund to bs called thu
" Railroad Interest and Sinking Fund, %
which shall be applied: hrst. 10 the pay.
ment OF the interest ~ herein directed.
and second. to the redemption Of the
principal Of said bonds a. provided In
this aot, II being the true intent and mean.
ing OF this section OF this act that the
interest and principal Of sll the bonds
issued under the provisions OF this cot
shall be paid ont OF the revenue derived
from the respective counties from The
taxes upon the property Of che said rail-
road company. less the amount realised
by said coun Ties from the taxes levied ios
State and school purposes.
Sec. 5. Said bonds shall be payable In
twenty-five years. and both the interest
and principal ahall be paid only q
provided in this act.
SEQ. 6. The bonds 10 bs issued undau
the provisions Of this sot shall be dsliv.
cred TO said railroad company BY ths
Board OF County Commissionsss Of tha
respective counties named. They shall b
signed by the chairman and ths clerk 81
the Board and shall bear the seal Of such
Board. The interest bearing coupons
belonging to and attached 70 each OF said
bonds shall bear the engraved OF litho
graphed signature Of the clerk OF said
Board OF Com missioners.
Sec. z. In case any OF the TERRITORY
through which said railroad may bs bull
shall hereafter be detached from th,
county within which IL ts now embraced
and such territory added 70 some othe,
county, the provisions Of this act respect
ing the issuance Of said bonds and thsil
mode Of payment shall apply 10 sucl
county and the officers thereof the sam,
as though such county Was originally In
cluded in the provisions hereof.
Sec. 8. The faith of the State Of Nsvsdl
is hereby pledged that this act shall nevs
be repealed nor SO modified In any way .
to impair the security OF those who shal
hold or purchase any of the bonds 10 thi
act provided, nor during the construction
OF said railroad after IL has been in goo,
faith commenced.
SEQ. 9. All acts and parts Of acts In con
hict with the provisions OF this act ar