Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1893-04-08
NUMBER 32.
TO ENCOURAGE THE CONSTRUCTION OF
RAILROAD ACROSS THEsrArE OF NEVADA.

RAILROAD AChOSS OF NEVADA
SECTION 1. whenever, after the passage
OF this act, the Utah x Nevada Air Line
Railway Company, corporation hereto
fore organized and now existing under and
by virtne OF the laws OF the state Of Me-
vsda, shall have constructed first-class
railroad OF standard gusge through the
counties OF White Pine. Eureka. Lander,
Churchill and Washoe. or either Of them,
il shall be entitled 10 receive the bond Of
said counties, or either OF them, at the
time aud In the manner hereinafter pro-
vided, to the amount OF S3, 900 per mile
for sach 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 i've
years from the date Of the approval OF this
ect, and no bonds shall be issued under
its provisions after that time.
Sec. q. Immediately upon thereceipt BY
the Board Of County Commissioners OF
either OF the said counties Of sworn GER
tifcate OF the CouEty Surveyor OF snch
county, or OF such Q 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
way then in course Of construction 80
herein before specified ii 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 TO de-
liver $50. 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
L--- xl-a~ L. Aasa I.A
rolling g-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, 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
sery to complete the whole length OF tho
road in said county shall not amount TO
twenty miles, thon for such fractional Sec
iion OF twenty miles such bonds shall be
issued at the rate of three thousand dol
lars per mile; provided. that no bont1
shall be 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 10 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 five hundred
S5O0) dollars nor more than one thous-
and Isl ,000) respectively. They shall bs
Autographed or engraved, with The
necessary interest coupons attached 10
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
10 bearer, and the interest thereon shall be
paid semi annually. on each first day Of
January and each first day OF July subse-
auent TO the issuance OF euch bonds. and
upon the first day OF each January and
July thereafter, until all interest payable
on the same shall have been extirguished.
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 at the time and in accordance
with the provisions OF this act.
Sec. T. In each OF the counties from
which bonds may be issued under and b.
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. a 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 tho 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
mept OF the interest aud the redemption
OF the prin cipal of said bonds, shall be
placed in a separate fund 10 be called iht
| !" Railroad Interest and Sinking Fund"
which shall be applied: fret. 10 tho pay
ment of the interest as herein directed,
and second, to the redemption OF the
principal of said bonds as provided in
| this act. ID 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 act
shall be paid out OF ihe 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.
Sec. s. Said bonds shall be payable in
| twenty-five years. and both the interest
| aud principal shall be paid only %
| provided in this act.
See. 6. The bonds to be issued under
| the provisions OF this act shall be deliv-
| cred to said railroad company by the
1 U
respective counties named. They shall be
signed by the chairman and the clerk OF
the Board and shall bear the seal Of sueh
| Board. The interest bearing coupons
belonging TO and attached to each OF said
| bonds shall bear tho engraved or litho-
| graphed signature Of the clerk OF said
| Board Of Commissioners.
Sec. 7. In case any Of the territory
through which said railroad may be buiit
| shsli hereafter be detached from tho
county within which il IL now embraced,
and suoh 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 TO such
county and the officers thereof the ssme
as though such county Was originally in
| cluded in the provisions hereof.
See. s. The faith of the State OF Nevada
is hereby pledged that this act shall never
be repealed nor 40 modified in sny way as
to impair the security Of those who shall
hold or purchase any of the bonds in this
act provided, nor during the construction
of said railroad after IL has been in good
faith commenced.
SEQ. 9. ALL acts and parts OF acts in con-
fliot with the provisions OF this act are
| barahv vapeata1