Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1893-02-04

70 xxoouRAex THE CONTRACTION or a
RAILROAD ACROSS THE STATE OF rrvApA.


SECTION 1. Whenever, after The passage
Of this cot, the Utah & Nevada Air Line
Railway Company, . corporation hereto
fore organised and nov existing under and
By virtue Of the laws Of the State Of Ne
vada, shall have constructed . f7rst-clsss
railroad Of standard euaee through The
counties Of White Pine. Eureka, Lander.
Churchill and Washoe. OF either OF them,
10 shall be ntitled 70 receive the bond Of
said counties. or either Of them, 81 the
time and In the manner hereipafter 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
pleted and in full operation within Eve
years from the date Of the approval OF this
sot, and no bonds shall be issued under
its provisions after that time.
SEQ. q. Imredistely upon shereceipt By
the Board OF County Com mmissioneEs Of
either OF the said counties Of sworn Ger.
ti6cate Of the County Surveyor OF suoh
county, or Of such 3 certificate Of the
Surveyor General OF the stste 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 Q part OF . oon tinuous 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 to prepare. TO issue and 70 de-
liver $50. 900 Of the bonds Of said county
provided for in this act 20 said railroad
company; and thereafter 40 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 ertifcate 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 .
sary 70 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 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 its construction.
Sec. Q. Said bonds shall bear interest at
the rate OF ~ per cent per annum, psy-
able semi i-annuslly. and they shall be for
IN amount not less than five hundred
($500) dollars nor more than one thous-
and ($l .000) respectively. They shall 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
HusS SaI 0tssa Al he fafn
and conditions contained in this act.
Both bonds and coupons shall be payable
TO bearer, and the In terest thereon shall be
paid semi. annually, on each first day Of
January and each fret day Of July snbse-
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.
SEQ. 4. In each OF the counties from
which bonds may be iseued under and by
virtue Of this act, there shall be annually
applied from the revenue OF such county
to the pay ymept Of the interest and the
principal OF said bonds which shall have
been issued from said county, . sum OF
money equal in amount 20 the sum which
shall be collected from said county from
said Utah and Nevada Air Line Railway
Company, from the taxes levied npon 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
ment Of the interest and the redemption
| OF the principal Of said bonds. shall be
| placed in . separate fund to be called the
81 Railroad Interest and Sinking Fund. I"
| which shall be applied: first. TO 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 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 tho taxes levied for
State and school purposes.
| Sec. s. 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 10 be issued under
| the provisions OF this act shsll be deliv-
ered to 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 shall bear the seal Of such
Board. The interest bearing coupons
belonging to and attached to each Of said
bonds shall bear the engraved or litho-
graphed signature Of the clerk OF said
Board Of Commissioners.
SEQ. Z. In case any OF the territory
through which said railroad may be built
shall hereafter be detached from tbs
county within which II is now embraced
and such territory added to aome Other
county. the provisions Of this act respect
ing the issuance OF said bonds and theil
mode of payment shall apply 10 suct
county and the officers thereof the sams
as though such county was originally in
cluded in the provisions hereof.
Sec. s. The faith OF the State OF Nevads
is hereby pledged that this act shall peveI
be repealed nor so modified In any way Al
TO impair the security OF those who shsl
hold or purchase any of the bonds In thii
act provided, nor during this construction
OF said railroad after ii has been in goct
faith commenced.
SEQ. 9. ALI acts and parts OF acts in con
fliet with tho provisions OF this act ar