Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1893-07-15
NUMBER 46.
AN ACT
TO ENCOURAGE THE CONSTRUCTION OF
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 Me-
vada, shall have constructed . frst-clsss
railroad Of standard euage through the
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, ~ the
time and 10 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 Eve
years from the date OF the approval OF this
sct, and no bonds shall be issued under
its provisions after that time.
SEQ. 2. Immediately upon thereceipt By
the Board Of County Com missioners OF
either Of the said counties OF sworn cor
tificate Of the County Surveyor Of such
county, or Of such . 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 10 part OF q 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 10 take such action % may be
necessary 10 prepare, to issue and 10 de-
liver $60, 900 Of the bonds Of said county
provided for In this act TO said railroad
company; and thereafter as each success
i've twenty miles Of railroad shall have
been completed and ready 10 receive the
rolling al took 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, At 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 70 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 a. the rate OF three thousand dol
lars per mile; provided, that no bonds
shall bc 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 i've hundred
| ($50O) dollars nor more than one thous-
| autographed or engraved. with the
necessary interest coupons attached to
each, shall express upon their face shat
they are payable In gold coin OF the
United States, subject 20 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 first day Of July subse-
| quent 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 ct 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 aci, 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, . sum ol
money equal in amount 70 the sum which
shall be collected from eaid 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 so applicable TO the pay.
| - he s~k nd "a n N m
OF the principal Of said bonds. shAll be
placed in separate fund to be called the
& Railroad Interest and Sinking Fund. >
which shall be applied: fret, 70 the pay
ment Of the interest as herein directed
and second, to the redemption Of the
principal Of said bonds % provided 10
this act. IL being the true intent and mean
ing OF this section Of this act that the
interest and principal Of all the bonds
issued under the provisions OF this aci
shall be paid out OF the 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 FOL
State and school purposes.
Sec. s. Said bonds shall be payable II
twenty-five years, and both the interes
and principal shall be paid only n
provided In this act.
SEQ. 6. The bonds 10 be issued undel
the provisions Of this sot shall be deliv
cred TO said railroad company by tn
Board OF County Commissioners Of thi
respective counties named. They shall b
signed by the chairman and the clerk o
the Board and shall bear the seal Of sucl
Board. The interest bearing coupon
belonging 10 and attached to each OF sal,
bonds shall bear the engraved or litho
grsphed signature Of the clerk OF sal
Board OF Com missioners.
SEQ. z. In case any OF the terrttor
through which said railroad may be bull
shall hereafter be detached from th
county within which il is now embraced
and such territory added TO some othe
county. the provisions Of this act respecl
ing the issuance OF said bonds and thei
mode Of payment shall apply to sue
county and the officers thereof the sam
a. though such county was originally In
cluded in the provisions hereof.
Sec. 8. The faith Of the State OF Nevad
is hereby pledged that this act shall neve
be repealed nor 80 modified in any way Q
to impair the security Of those who sha
hold or purchase any Of the bonds In th
act provided, nor during the constructio
OF said railroad after II has been In goo
faith commenced.
Sec. 9. All acts and parts OF acts In cor
fics with the provisions Of this act a
n -