The herald., 1895-02-25
THE PROPOSED BILL IN FULL
The Measure Which VIII Be introduced by
AssenlhIXman RuIla Today


An act to authorize counties of the second
class to build railroads and to lease or
operate the same.
The people of the state of California,
represented in Senate and Assembly, do
enact as follows:
Section |. That where in counties of
the first and second class the board of SUI
pervisors thereof SHALL by resolution
passed by a majority of the members
elected thereto declare it to be essential
to the interests of such county that q line
of railroad, to be named in said resolu-
ton, should be provided between termini
designated therein, one of which shall be
in such county, it shall be lawful for
board Of trustees appointed as herein pro-
vided and they are legally authorized to
borrow as fund for that purpose not to
exceed the sum of 5 per cent of the as
sessed value of the property on the as
sessment roll of such county and to issue
bonds therefor in the name of said county
under the corporate seal thereof bearing
interest at a rate not to exceed per cent
per annum, payable semi-annually at
such places and in such sums as shall be
deemed best by said board. Said bonds
shall be signed by the president of said
board and the chairman of the board
of supervisors of such county and
shall keep register of the same and shall
be secured by a mortgage on the line of
railway, and its net income and by the
pledge of the faith of the county, and u
tax not exceeding two and half mills on
the dollar, which it shall be the duty of
the board of supervisors thereof to annu-
ally levy sufficient with said net income
to pay the interest and provide sinking
fund for the final redemption of said
bonds provided, that no money shall be
borrowed or bonds issued until after the
question of providing the line OF railway
specified in the resolution shall be sub
mitted to vote of the qualified electors
of said county, at special election to be
ordered by the board of supervisors there
of, of which notice shall be given as pro-
vided under the general laws in other
cases of the creation of other county bond
ed Indebtedness; and provided further.
that two-thirds of said electors voting at
said election shall decide in favor of said
line of railway. The returns of said cleo
ton shall be made to the county clerk and
by him laid before the board of super
visors, who shall declare the result by
resolution. The bonds issued under the
authority of this section shall not be sold
or disposed of for less than their par
value.
Sec. 2. If two-thirds of the votes cast at
said election shall be in favor of providing
the line of railway as specified in the first
section, it shall be the duty of the District
Attorney of such county forthwith to file
petition in the Superior Court OF such
county, praying that the Judges thereof
will appoint five trustees, to be called the
trustees of---railway (the blank to
be filled with the name given to the rail
way in the resolution); and it shall be the
duty of said Judges to make the appoint
ment and to enter the same on the min
utes of the court. They shall enter into
bond to the county in such sum as the
Court may direct, with one or more suffi-
al hp annrOVpd nv the
Court, conditioned for the faithful dis
charge of their duties. The bond so taken
shall be deposited with the treasurer of
the corporation for safe keeping.
Sec. 5. The said trustees andltheir sue
cessors shall be the trustees of the said
fund, and shall have the control and dis
bursement of the same; they shall expend
said fund in procuring the right to con-
struct and in constructing single or
double track railway, with all the usual
appendages, including line of telegraph
between the termini specified in said reso-
luton; and for the purposes aforesaid
shall have power and capacity to make
contracts, appoint, employ and pay Off
GERS and agents, and to acquire. hold and
possess all the necessary real and personal
property and franchises in this state; they
Shall also have power to receive donations
in land or money, bonds and other per
sonal property, and dispose of the same in
aid of said fund.
Sec. 4. The said trustees shall form
board, and shall choose one of their num-
Der president, who shall also be the act
ing trustee, with such power as the board
may, by resolution, from time to time
confer upon him. A majority of said
trustees shall constitute a. quorum, and
shall hold regular meetings for the trans
action of business at their office, in the
county seat of such county under whose
action they are appointed; but they may
adjourn from time to time to meet at any
time they may think proper; they shall
keep record of their proceedings and
they shall cause to be kept full and accu-
bursements, and make report of ths