Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1893-05-27
NUMBER 80:
70 xScouRAcE THE CONSTRUCTION or 4
RAILROAD ACROSS THE STATE on NEVADA.

SKCrrox L. Whenever, after the passage
Of tksS sot, the Utah 4 Nevada Air Line
Railway Company. corporation hereto
fore organized and now existing under and
BY virtue Of the laws Of the State Of Ne
vads. shall have constructed frst-clsss
railroad Of standard suage through the
counties Of White Pine, EUREKA, Lander,
Churchill and Washoe. or either Of them,
10 shall be entitled 70 receive tho bond Of
said counties, or either Of them, at the
time and in the manner hereinafter pro-
yided, 10 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 10 full operation within five
years from the date Of the approval OF this
act, and no bonds shall bs fssued under
lite provisions after that time.
SEQ. 2. Immediately upon thereceipt BY
the Board Of County Commissioners OF
either Of the said counties Of . sworn cer-
tifoate 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 as 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 continuous line Of rail.
way then In course Of construction %
herein before specified, IL 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 70 prepare, 10 Issue and 10 de-
liver 100000 Of the bonds Of said county
provided for In this act 10 said railroad
company; and thereafter - 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
the said board shall issue and de
liver 10 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 noces {.
ssry 10 complete the whole length Of the
road In said county shall not amount TO
twenty miles, then for such fractional Sec
tion OF twenty miles such bonds shall be
issued st 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 ave years from
the date Of I've approval. and no portion
Of said railroad not then completed shall
receive any bonds from said counties, or
either Of them 10 aid Of Us construction.
the rate OF (5) per cent per annum, pay
able semi-annually, and they shall be for
an amount mot less than fve hundred
($500) dollars nor more than one thous-
and ~, ,000) respectively. They shall be
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 TO 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.annuslly, on each frst day Of
January and each first day Of July subse-
quent 70 the issuance Of such bonds. and
upon the 6rst day Of each January and
July thereafter, until ell interest payable
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 81 the time and in accordance
with the provisions Of this sct.
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
10 the payment Of the interest and the
principal Of said bonds which shall have
been issued from said county. 9 sum Of
money equal In amount 10 the sum which
shall be collected from said county from
said Utah and Nevada Air Line Railway
Company, from the taxes levied upon the
ntire property Of said company In said
county, less the amount Of taxes which
may have been levied ON and collected
thereirom 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 be
| placed in . separate fund TO be called the.
" Railroad Interest and Sinking Fund,
which shall be applied: first, 10 the pay
ment OF the interest as herein directed,
and second, to the redemption Of the
| principal Of said bonds as provided in
this act. II being the true intent and mean
| ing Of this section Of this act that the
interest aud principal Of all the bonds
issued under the provisions Of this act
shall be paid ont 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 for
State and school purposes.
SEQ. 8. Said bonds shall be payable In
twenty-five years. and both the interest
and principal shall be paid only %
| provided In this act.
SEQ. 6. The bonds 70 be issued under
the provisions Of this cot shall be deliv-
cred 70 said railroad company by the
Board OF County Commissioners Of tha
respective counties named. They shall be
signed by the chairman and the clerk OF
the Board and shall bear the seal Of such
Board. The interest bearing coupons
belonging 70 and attached 10 each Of said
bonds shall bear the engraved or litho-
graphed signature Of the clerk Of said
Board Of Commissioners.
SEQ. 7. In case any Of the territory
through which said railroad may be built
shall hereafter be detached from thu
county within which IL 10 now embraced
and such territory added 10 some other
county, the provisions Of this act respect
ing the issuance OF said bonds and theiI
mode Of payment shall apply TO sucf
county and the officers thereof the SAINT
as though such county was originally in
cluded In the provisions hereof.
Sec. 8. The faith of the State Of Nevsdi
is hereby pledged that this act shall never
be repealed nor so modified In any way Al
70 impair the security OF those who shal
hold or purchase any Of the bonds In thil
act provided, nor during the construction
Of said railroad after IL has been in goot
faith commenced.
SEQ. Q. ALI acts and parts Of acts In con
6ict with the provisions Of this got ar
hereby repealed.