Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1893-01-07
NUMBER 80.
70 ExcorEaoE THE cossTnvcTIos or 4
RAILROAD ACROSS THE STATE OF NEVADA.


SECTION 1. Whenever. after the passses
Of this act. the Utah a NovEds Air Lins
Railway Company. . oorpofsiicn Ltfeto-
fore organized aud now existing andtr and
By virlue Of The Laws Of tho state tf No
vsis. shall have constructed fret class
railroad Of standard gnsse through the
counties Of White Pine. Eureka. Lander,
Chuf chill and Wafhoe. OF ettht OF thtm,
IL shall be entitled to icctivc tho bond of
said conDties. or tisbtr of them, ~ The
time and in the manner hsfs matter pro-
vided, to the amount ~ $500 per mile
for each and every mile cf tho mann track
IL said railroad completed iD said comfy;
provii.d d. that said railroad shall Le conn
pieied aud in full operation within i've
years from the date Of tho approval of this
act, aud no bonds shall be Issued under
iis provisions sfier that time.
See. 2. Immediately upon thorectipt ~
the Board OF County Com nissicners cf
either Of the said counties u q sworn ter-
sifcaio Of the County Surveyor Of such
county, or Of such q certlicste Of the
Surveyor. General Of the State OF Nevada.
setting forth that twenty mics of such
railroad a. herein mtniiohcd have been
buiil and completed by said comp<hy AID
In proper condiiiuD 10 receive tho rolling
stock. and that said section Of twenty
miles is . part OF a continuous line oi rail.
way then in course of construction ~
herein before specified. IL shall be the dnty
Of said Board OF County CommissiontTs of
such county. aud they are hereby directed
Immediately to take such action as may he
necessary to prepare. 10 irsuo and to de-
liver $50, 600 u the bonds Of said comfy
provided for in this act to said railroad
company; aud thereafter as each suecf ss-
i've twenty miles OF railroad sLali have
been completed aud ready 20 receive the
rolling stock in such county, and tie same
shall be shown by tho certificate aforesaid
the said board shall issue aud de
liver to said railroad company the bonds
OF said county. at the ratio of rixty
thousand dollars Ia bonds Tor each section
OF twenty miles thus completed in said
county, aud in case the last section neces
sary to complete the whole length Of the
road In said county shall not amount to
twenty milte, then for such fractional SO
tion Of twenty miles such bends shall ls
issued at the rate OF three thousand dol
lars per mile; provided, that no bonds
shall be issued under the proviriabs of
this net after the lapse Of five years f,om
tho date OF its approval, and no portion
of said railroad not then completed rhall
receive any bonds from said counties. or
other of them in aid Of it's construction.
Sec. 8. Said bonds shall bear int,rest al
the rate OF (5) per cent per annum. pay
able mi-annuaiiy. aud they shall be Tor
an amount not less than i've hundred
tS5OO) dollars nor more than one thons-
and fSl .000) respectively. They shall BE-
Autographed or Engraved. with the
necessary interest coupons attached 10
osch. shall express upon their face that
thoy arc payable In gold coin OF the
United States, subject to tho provisions
aud conditions contained in this act.
Both bonds aud coupons shall be payable
10 bearer, and the interest thereon shall be
paid semi annually. on each fret day OF
January and each fret day of July srbse-
quent to tho issuance OF such bonds. and
upon the first day OF each January and
July thereafter. until all interest payable
on the came shall have been extinguisbed.
Both the interest and principal OF said
bonds shall only bs paid by The Treasurer
oil the county from which they may have
been iasuod at the time aud in accordsnce
with The provisions OF this act.
Zee L. In each OF the conniiee from
which bonds msy be issusd uuder aud by
virtue OF this act, there shall te annually
applied from the revenue OF such comfy
to the payment Cf the interest and tho
principal Of said bonds which shall have
been issued from said county. q sum Of
shsll be collie cted from said county from
said Utah and Nevada Air Line Railway
Company, from the taxes levied upon the
entire property OF eaid company in said
county, less tho amount Of taxes which
may have been levied on and collected
therefrom for State and school pprposea,
and the amount SO applicable to tho pay
ment Of the interest aud the redemption
of the principal Of said bonds. shall be
placed in q separate fund to be called The
:. Railroad Interest and Sinking Fund.
which shall be applied: fret. 20 the pay
ment OF the interest as herein dirtcted,
and second. to the redemption of shs
principal Of said bonds rs provided In
this act. |, being the true intent and mean
ing OF this section of this act that the
| in terest aud principal OF all the honda
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. LEES the smoant realizfd
| bs said counties from the taxes levied for
state and school purposes.
Sec. s. Said bonds shall be payable in
twonty- five years. and both the interest
| aud principal shall DO paid only IS
provided in this act.
See. G. The bonds 10 lie issned under
The provisions oil THIS ACT shhtf De ottis-
| cred tn aaid railroad company Icy the
| Board OF County CommirsioIfrs at the
respective counties named. They shsli lie
signed by the chairman and che cisrk of
| the Board and phall bear the seal of snch
| 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 7. In case any d the territory
| through which said railroad may he bniit
| shall here after be detached fiom the
| county within which II IL now entraeed.
and such territory added TO some Other
county. the prov isiors of this act rsspect-
ing the Issuance Of said bonds and their
node OF payment shall Apply 10 such
county aud the officers thereof the same
"a though such couniy was originally in
ciuded in the provisions hereof.
Sec. 8. The faith Of ;he State OF Nevada
is hereby pledged that this act shall never
| be repealed nor 30 modified in any way a
10 impair the security of those Who shall
hold or purchases any ri The bonds in THU
act provided, nor during the construction
az said railroad after IL has been in coed
faith commenced.
Sec. o. All acts and parts OF acts In con