Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1893-09-02
NUMBER 1:
AN ACT
TO ENCOURAGE THE CONSTRUCTION OF 4
RAILROAD ACROSS THE STATE OF NEVADA.

SECTION 1. Whenever, after the passage
OF this act, the Utah q Nevada Air Line
Railway Company, corporation hereto
fore organized and now existing under and
by virtue OF the laws Of the State Of Ne
vAda, shall have constructed frst-class
railroad OF standard guage through the
counties OF White Pine. Eureka, Lander,
Churchill and washoe. or either Of them,
10 shall be entitled 10 receive the bond OF
said counties, or either Of them, u the
time and In the manner hereinafter pro-
yided, to the amount OF $1,000 per mile
for each and every mile Of the main track
Of said railroad completed In said county;
provided, that said railroad shall be conn
pleted and in full operation within i've
years from the date OF the approval OF this
act, and no bonds shall be issued under
its provisions after that time.
SEQ. 2. Immediately upon thereceipt By
the Board OF County Commissioners Of
either OF the said counties Of sworn GER
tifcate Of tho County Surveyor Of such
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
miles is Q part OF CON sinuous 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 to take such action % may be
necessary 70 prepare, to issue and 70 de-
liver $50. 900 Of the bonds Of said county
provided for in this act to said railroad
company; and thereafter as each success
H. - uhaD kovA
been completed and ready 10 receive the
rolling-stock In such county, and the same
shall be shown by the certificate aforesaid
the said board shall issue and de
liver to said railroad company the bonds
OF said county, 81 the rate Of sixty
thousand dollars In bonds for each section
OF twenty miles thus completed in said
county, and In case the last section neces
sery TO complete the whole length Of the
road in said county shall not amount to
twenty miles, then for such fractional SEQ
tion OF twenty miles such bonds shall be
issued al the rate Of three thousand dol
lars per mile; provided. that no bonds
shall be issued under the provisions OF
this act after the lapse Of i've years from
the date Of lite approval, and NO portion
of said railroad not then completed shall
receive any bonds from said counties, or
eltutE VI tuoLu III olu Vi AtB SOhnsA oSsktAs
SEQ. 8. Said bonds shall bear interest at
the rate OF (5) per cent per Annum. pay
able semi.annually, and they shall be for
an amount not less than five hundred
(S50O) dollars nor more than one thous-
and ($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
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 first day Of
January and each first day OF July subse.
quent 10 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 exttnguished.
Both the interest and principal OF SAID
bonds shall only be paid by the Treasures
OF the county from which they may have
been issued at the time and in accordance
with the provisions of this set.
SEQ. 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
| to the payment Of the interest and the
principal Of said bonds which shall have
been issued from said county, q sum oi
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 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 bt
placed in Q separate fund to be called tht
!. Railroad Interest and Sinking Fund,
| which shall be applied: fret, 70 the pay
| ment of the interest as herein directed
and second, to the redemption OF ths
| principal Of said bonds as provided II
this act, IL being the true intent and mean
ing of this section Of this act that tht
| interest and principal Of ell the bondI
issued under the provisions OF this 90
shall be paid out Of the revenue derived
from the respective counties from I'M
taxes upon the property Of the said rail
road company, less the amount realized
| by said counties from the taxes levied 10
State and school purposes.
SEQ. 8. Said bonds shall be payable II
twenty-five years. and both the interes
and principal shall be paid only
| prONtueu IL saAs ooes
SEQ. 6. The bonds to be issued unde
the provisions Of this act shall be deliv
cred 10 said railroad company by th
Board OF County Commissioners OF tn
respective counties named. They shall b
signed by the chairman and the clerk Q
the Board and shAll bear the seal OF sucl
Board. The interest-bearing coupon
belonging TO and attached to each OF sal
bonds shall bear the engraved or lithe
grsphed signature Of the clerk OF sal
Board Of Commissioners.
SEQ. 7. In case any OF the terrisor
through which said railroad may be bull
shall hereafter be detached from th
county within which il Is now embraced
and such territory added TO some othe
county, the provisions Of this act respec
ing the issuance Of said bonds and the
mode of payment shall apply to sue
county and the officers thereof the sam
as though such county was originally II
cluded In the provisions hereof.
Sec. 8. The faith Of the State OF Nevad
ia hereby pledged that this act shall new
be repealed nor SO modified in any way
to impair the security Of those who sha
hold or purchase any of the bonds In th
act provided, nor during she constructie
Of said railroad after IL has been In goe
faith commenced.
Sec. 9. ALI acts and parts Of acts In col
fict with the provisions OF this act o