Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1893-10-07
An ACT
TO ENCOURAGE THE CONSTRUCTION or a
RAILROAD ACROSS THE STATE OF NEVADA.

RAILROAD ACROSS THE STATE OF NEVADA.
SECTION 1. Whenever, after the passage
Of this act, the Utah q Nevada Air Line
Railway Company, . corporation hereto
fore organized and now existing under and
BY virtue Of the laws OF the State Of Ne
vada, shall have constructed q frst-clsss
railroad OF standard guaee through ths
counties Of White Pine, Eureka, Lander,
Churchill and Washoe. or either OF them,
IL shall be entitled 70 receive the bond Of
said counties. or either Of them, 81 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 completed In said county;
provided. that said railroad shall be COM
pleted and in full operation within i've
years from the date Of the approval OF shis
act, and no bonds shall be issued under
its provisions after that time.
SEQ. 2. Immediately upon thereceipt By
the Board Of County Commissioners OF
either OF the said counties Of swern cer-
tificate Of the County Surveyor Of such
county, or Of such . certificate OF the
Surveyor General of the State sof 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 10 part OF continuous line Of rail-
way then in course OF construction -
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 - may be
necessary 70 prepare, to issue and 70 de.
liver SEC. 900 Of the bonds Of said county
provided for in this act 10 said railroad
company; and thereafter as each Success
i've 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 de
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 neces :
ssry to complete the whole length OF the
road in said county shall not amount TO
twenty miles, then for such fractional seo-
tion OF twenty miles such bonds shall be
issued al 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 i've 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 ~
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
| Autographed or engraved. with the
| necessary interest coupons attached to
each, shall express upon their face that
they arc 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
| 10 bearer, and the interest thereon shall be
| paid semi annually, on each fret day OF
| January and each first day OF July subse-
| auent TO the issuance OF such bonds. and
| upon the first 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.
SEQ. 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 sball have
been issued from said county, . sum ol
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 whfot
may have been levied on and collsotet
thereirom for State and school purposes
and the amount 80 applicable TO the pay
l - q - ss.ta nd
of the principal Of said bonds. shsll b
placed in separate fund to be called th.
Railroad Interest and Sinking Fund.-
which shall be applied: fret. TO the pay
ment OF the interest as herein directed
! and second, to the redemption OF th'
principal Of said bonds % provided II
this aot, II being the true intent and mean
ing Of this section OF this act that th'
interest and principal OF all the bond
issued under the provisions OF this 90
shall be paid out OF the revenue derived
from the respective counties from IN
taxes upon the property OF the said rail
road company, less the amount reeiize'
| by said counties from the taxes levied TO
State and school purposes.
SEQ. 8. Said bonds shall h, payable Il
twenty-five years, and both the interes
and principal shall be paid only .
provided in this act.
Sec. 6. The bonds TO be issued unde
the provisions OF this act shall be delis
cred 10 said railroad company BY th
Board OF County Commissioners Of th
! respective counties named. They shall
signed by the chairman and the clerk
the Board and shall bear the seal OF sue
Board. The interest bearing coupon
belonging to and attached TO each OF sal
bonds shall bear the engraved or lttht
grsphed signature OF the clerk OF sal
Board OF commissioners.
SEQ. Z. In case any OF the terrttor
through whicbsaid railroad may be bull
shall hereafter be detached from Il
county within which II is now embsscet
and such territory added to some oths
} county. the provisions Of this act respec
= ing the issuance Of said bonds and the
: mode Of payment shall apply to sue
county and the officers thereof the san
, as though such county was originally Il
D cluded in the provisions hereof.
Sec. 8. The faith Of the State OF Eeyat
is hereby pledged that this act shall new
: be repealed nor SO modified In any way
> to impair the security Of those who shs
hold or purchase any of the bonds in th
act provided, nor during the constructit
of said railroad after il has been in got
= faith commenced.
SEQ. o. AL acts and parts OF acts in col
Aict with the provisions Of this act .