Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1893-01-28
NUMBER 2s.
TO ENCOURAGE The CONSTRUCTION OF 4
RAILROAD ACROSS THE STATE OF NEVADA.

RAILEoAD ACROSS THE STATE OF NEVADA.
SECTION /. Whenever, after the passage
OF this act. the Utah 4 Nevada Air Line
Railway Company. q corporation hereto
| fore organized and now existing under and
| by virtue OF the laws OF the State Of Ne
| vads, shall have constructed Q fret class
| railroad Of standard euage through the
counties Of White Pine. Bureks, Lander,
Churchill aud wssboc. OF either Of them.
10 shall be entitled 20 receive the bond Of
said counties. or either OF them, ~ the
time and In the manner hereinafter pro-
| yided, to the amount Of S.. 3.0U0 per mile
for each and every mile Of the main track
Of said railroad completed In said county;
provided, that said railroad shall be CONF
pleted and in full operation within FIVE
years from the date OF the approval Of this
| act, and no bonds shall be issued under
its provisions after that time.
| SEQ. q. Immediately upon the receipt By
the Board Of County Commissioners Of
either OF the said counties of q sworn Ger.
tificste Of the County Surveyor Of such
county, or OF such . certificate Of tho
Surveyor General OF the State OF Nevada,
setting forth that twenty miles Of euch
railroad az 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 10 part OF a continuous line OF rail.
way then 10 course Of construction %
herein before specified. Ii shall DO the duty
Of said Board Of County Commissioners OF
such county. and they are hereby directed
Immediately to take such action ss may bs
necessary to prepare, to issne aud TO de-
liver $50. 900 Of the bonds OF said county
provided for In this act to eaid railroad
company; and thereafter as each success
i've twenty miles OF railroad sball lave
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 dc
liver TO said railroad company the bonds
OF said county, At the ratio Of sixty
thousand dollars In bonds for each section
OF twenty miles thus completed In said
county, and in case the last section neces
cary TO complete tho whole length Of tho
road in said county shall not amount to
twenty miles, then for such fractional Sec
tion Of twont ty miles such bonds shall bo
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 ffom
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
(s500) dollars nor moro than one thous-
and lsl ,000) respectively. They shall be
litboersphed or engraved, with the
necessary interest coupons attached 10
each. shall express upon their face that
they are payable in goli coin OF the
United States, subjsct 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 annually, ON each first day Of
January and each fret day Of July subse-
quent to the issuance Of such honda. and
upon the frst day OF each January and
| July thereafter, until all interest payable
on the same shall have been extiDgnisbed.
Both the interest and principal Of said
bonds shall only be paid by the Treasurer
OF the county from which they may have
been issned at the time and in accordance
with the provisions OF this act.
SEQ. 4. In each OF the counties from
which bonds msy be issned under and BY
virtue OF this act, there shall te 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 raid county. q snm 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 ssid
county. less the amount OF taxes which
msy have been levied on and collected
thereirom 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. shail lie
~. ta fnx fal a.
q Railroad Interest and Sinking Fund"
| which shall be applied: first. 10 the pay.
ment OF tho interest ~ herein directed,
| and second, to the redemption of the
principal Of said bonds AZ provided in
| this act. ID being the true intent and mean
| ing OF this section Of this act that the
interest and principal OF ell the bonds
Issued under the provisions OF this act
shall be paid out OF she 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 for
State and school purposes.
SEQ. 5. Said bonds shall be payable in
twenty-five years. and both the interest
aud principal shall be paid only AZ
| provided in this act.
SEQ. 6. The bonds 10 be issued under
| the provisions OF this act shall be dsliv-
cred to said railroad company by the
Board OF County Com missioners Of the
respective counties named. They shall be
| signed by the chairman ard the clerk Ct
| the Board and shall bear the seal of such
| Board. The interest bearing coupons
belonging to and attached to each OF raid
bonds shall bear the engraved or litho-
| graphed signature Of the clerk Of said
| Board Of Com missioners.
SEQ. 2. In case any of the territory
through which said railroad may be bnilt
shall hereafter be detached from the
| county within which ii Ia now embraced.
aud such territory sdded 10 some other
county. the provisions Of this act respect
| ing tho issuance OF sad bonds and their
mode Of payment shsll apply 30 such
county and The officers thereof the sacne
as though such county VAS originally in
eluded 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 ss
10 impair the security OF those who shall
hold or purchase any Of the bonds in this
act provided. nor during the eonstrrctio
OF said railroad after IL has been in good
| faith commenced.
| Sec. 8. All acts aud parts Of acts in con-
fiiot with the provisions Of this act are
hereby repealed.