Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1893-09-23

70 ENCOURAGE THE CONSTRUCTION or
RAILROAD ACROSS TIE STATE OF NEVADA.

AAiLhoAD hCkoco TEE nfAfE VI NAfebAs
sxcrIoN 1. Whenever, after the passage
Of this aot, the Utah a Nevada Air Line
Railway Company. corporation hereto
fore organized and now existing under and
by virtue OF the laws o; the State Of Ne
vsda. shall have constructed . frstclass
railroad Of standard guase 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, 81 the
time and In the manner hereinafter pro.
vided, 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
plsted and in full operation within fis
years from the date Of the approval Of this
act. and no bonds shall bs issued under
its provisions after that time.
SEQ. q. Immediately upon thereceIpt By
the Board OF County Commissioners Of
either Of the said counties Of . swsrn GER
tifcate OF the County Surveyor OF such
6urvsyor-Gsneralo 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 is part OF continuous line Of rail.
way then In course Of construction -
herein before specified. 1t 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. TO iesue and 70 de-
liver $50. 900 OF the bonds Of said county
provided for In this act 70 said railroad
company; and thereafter - each success-
I've twenty miles OF railroad shall have
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 de
liver to 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 neocs
ssry to complete the whole length Of the
road In said county shall not amount TO
twenty miles, then for such fractional SEQ.
tion OF twent ty miles such bonds shall be
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 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 10 aid Of iss construction.
SEQ. 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 i've hundred
t$500) dollars nor moro than one thous-
and ~ .000) respectively. They shsil be
Autographed or engraved. with the
necessary interest coupons attached TO
each, shall express upon their face that
they are 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
to bearer, and the interest thereon shall be
paid semi annually, ON each frt day OF
January and each frst day Of July subse-
quent 70 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
OF the county from which they nay have
been issued st the time and in accordance
with the provisions OF this act.
Sec. 4. In each OF the counties from
which bonds may be ieeued 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 shall have
been issued from said county, . sum 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 esid
county. less the amount OF taxes which
may have been levied on ana collected
therefrom for State and school purposes,
and the amount so applicable to the pay.
ment Of the interest aud the redemption
| OF the principal OF said bonds. shall be
| placed in . separate fund TO be called the
q Railroad Interest and Sinking Fund"
which shall be applied: first. 10 the pay
ment OF the interest Is herein directed,
and second, to the redemption OF the
principal Of said bonds % provided In
this act. Il being the true intent and mean
| ing Of this section Of this act that the
issued under the provisions Of this act
shall be paid ous 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 TO be issued under
| tue PROVISIONS OI tnie sct bueu po uoiiv>
cred 70 said railroad company by the
Board OF County Commissioners Of the
respective counties named. They shall be
signed BY the chairman and the clerk Of
the Board and shsll 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-
grsphed signature Of the clerk OF said
Board Of Com mmissioners.
SEQ. z. In case any OF the territory
through which said railroad may be built
shall hereafter be detached from the
county within which II is now embraced.
and such territory added to some other
county. the provisions Of this act respect
ing the issuance Of said bonds and their
mode Of payment shall apply 10 such
county aud the officers thereof the same
as though such county was originally in.
cluded In the provisions hereof.
Sec. 8. The faith Of the State OF Nssads
Is hereby pledged that this act shall never
be repealed nor 80 modified In any way =,
70 impair the security OF those who shall
hold or purchase any Of she bonds In thii
act provided, nor during the construction
Of said railroad after IL has been In gocd
faith com menced.
Sec. 9. All acts snd parts OF acts 10 con
j.. hict with the provisions Of this act ar
~ xoposlad