Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1892-06-04

AN ACT
70 nsoouRAer THE CONTRADICTION or 1
nAIEnoAp Acnoss TIM urxrx m urv.n.


Of this cot, the Utah 4 Nevada Az IiSe
Railway Company, Q oorposstios hereto.
fore organized and nov sxistine undeg snl
By virtue Of the laws Of Ne sSsss Of Ne.
vadss shall have constSueted . hsst-eleap
railroad OF standard euaGe throueh She
counties Of White Pine, xureka, Lander.
Churchill and Washoe, % either Of VAem.
10 shall be entitled 10 sooeivo The boad Of
said counties. or either Of them, q tbe
time and In the manner hersinaftsf pro.
vided. 70 the amount Of 5000 PEI mile
for each and every mile Of the main tSseh
Of seid railroad completed in said county;
provided, that said failrusd shan b con. !.
plsssd and IN full operation within ave
yeare from the date of the approval Of this
aos. ana no bonds shall b Issued under
its provisions after that time.
6ec. 2. Immediately upon The reoeipS by
The Board Of County Conmispioners of
either Of the said counssss Of svorn cee-
tifeaee Of the County Hurvsyos Of sueh
county, or OF such . osgttncaoe Of tho
Surveyor-G General Of the Stats os Nevada.
setting forth that twsnty miles q such
railroad % herein mentioned have besa
built and completed By said company and
In proper condition 70 rooeive ths rslline.
sseek. and that said ssotion of oveoty
miiee V peet Of oeot6nuous Iins q rail-.
way shen in course of eonstrue6ieo q
herein before specified ~ shall b The duSy
OF said Board Of County Commissionsrs q
such county. and they 80 hereby directed
Immediately 70 take sueh astion & nay =
neosssary TO prepare. 70 issus and 10 d.
liver Se0, 900 OF the bonds Of said eoanty
providsd tor In this cot 70 said saiIsoAl
company; and thereaftee - each suecsss-
i've twenty miles OF railroad ehalI havs
been conpleted and ready 70 receive the
rolling -ltock In such county, and the ssme
shall be shown BY the certificate siorssaid
the said board shall issue and de
liver 70 said railroad company ths bonds
OF said county. 81 the rate Of sixly
thousand dollars In bonds for each section
Of twenty miles thus completed IN saiA
county, and In case We lasS section neese /.
sary 70 complete the whols length Of The
road In said county shall not amount 70
twenty miles, then for such fractional see.
tion Of twenty miles snch bends shall bs
issued at the rate Of three Thousand DOL.
lars per mile; provided. that ~ bonds
shall b Issued under The provisions Of
this act after the lapse Of Ave ysass fson
the date Of I've approval, and no portioa
Of said railroad not then completsd shall
receive any bonds from said counties, OF
either Of them In aid Of ~ constsuction.
SEQ. 8. Said bonds shall bear interest q
the rsts Of ~ per cent Per snnun, pay.
able semi-annuslly. Asd thsy shall b. fos
an amount not less than i've hundred
($600) dollsrs nor moro than one thous.
and 81 ,000) respectively. They shall b
autographed or engraved, With NE
necessary interest coupons attached 10
each. shall express upon tAeir face 1hae
they are payable II cola coin Of ths
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 b
paid semi-annually. on each first day Of
January and each first day Of July subss-
quent 70 the issuance Of such bonds. and
July thereafter. until all interest payable
on the same shall have bssn extinguished.
Both the interest and principal Of said
bonds shall only be paid BY the Treasures
Of The county from which thsy may have
been issued ct the time and In accordance
with the provisions Of this cot.
6ec. 4. In each Of the eountios 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 anA the
principal Of said bonds which shall have
been issued from said county, . sum ol
money equal In amount 70 she sun which
shall be collected from said county IRON
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 taxso WhisA
may have been levied on and eoIlecSod
thsrefrom for State and school purposes,
and the amount 90 applicable TO The pay
ment Of the interest sAd the redsnpliea
Of the principal Of said bonds. shall 10
placed In . separate fund 70 be called ths
Railroad Interest and Sinking Fund"
which shall be applied: Asst. 70 ths pay.
ment OF the interest - herein directed.
and second. to the ssdsmptiou Of the
principal Of said bonds = provided n
this aos. Il being the tsus intent asd mean.
ing Of This section Of this act that Ne
interest and principal Of Ill ths bonds
issued under the provisions Of this cot
shall be paid out Of shs revenue derived
from the respective counties from the
road company, less the amount realised
BY said counties from The taxes lsvisd fos
State and school purposes.
Sec. 8. Said bonds shall be payable u
twenty-five years, and both the interest
and principal shall - paid only -
provided In this act.
Bee. 9. The bonds - - issusA undas
the provisions Of this ct shall b dsliv.
srsd 70 said railroad company By The
Board OF County Oomnissionsss Of the
respective counties NAMED. They shall b
signed by the chairman end the clerk a
the Board and shall bear The seal of such
Board. The interest bsazing coupons
belonging TO and attached 70 each Of sale
bonds shall bear the engraved o. litho.
graphed signature Of The clerk Of saS1
Board Of Commissioners.
SEQ. 7. In case any Of the tssSttosy
through which said railroad may BE- buiIo
shall hereafter be detached from the
county within which u b now eubsaceds
and such territory added 70 some othsu
county. the provisions Of this aot respect
Ing the issuance Of said bonds and thsls
mode Of payment shall apply 70 such
county and the officers thereof ths sa0e
- though such county was originally h
cludsd In the provisions hereof.
Sec. 8. The faith Of The State Of Nsvade
| IL hereby pledged that this act shall nevse
be repealed nor so modified In asy way q
10 impair the security Of those Who shall
hold or purchase any Of ths bonds b Nm
act provided, nor during The constSuctiol
| Of said railroad after 10 he's been n good
| faith commenced.
SEQ. 9. AL acts and pafts OF aote II con
hict with the provisions Of this cot an
hereby repealed.
This IS NO HUMbUG