The Oskaloosa herald., 1905-06-22
FOR ELECTION.
Neat step Necessary In Procuring
ths ln,efarban.

NWNEMMNf4
subscriptions has been raised, tho
I next pten 10 hc TAKEN IN procuring the
lnlefurhan Il a petition for special
election, The call II out and requires
the names of majority Of the resi-.
dent frneholdurs, II Ii a. follows,
To the Honorable Mayor and CITY
Council Of the city Of oskaloosa,
Iowa. The undersigned, respectfully
representing that we are each resi-.
dpnt free hold tax payers OF tho sal /
City Of Oskaloosa, respectfully pcti.
lion your honorable body to submit 10
the qualified voters of paid city nt d
frecial election 10 be called and held
fo~ the purpose the following puptta
measure:
Shall tax OF Ave per cent on the
assessed value Of the City of oska.
loosa, as assessed In the year 1905, be
levied, collected md paid to aid in the
construction of trolley or electric
railway by the Oskaloosa and Buxton
Electric Railway Company, corpora,
tion organized and existing under and
by virtue Of the laws OF the State of
Iowa, and under the following condl.
tions:
THE name OF the company In
whose aid said tax shall be levied and
paid Is 'Oskaloosa and Buxton Electric
Railway Company and its line shall
commence at Oskaloosa and shall OK.
tend via the incorporated town of
Beacon, Iowa, to q point near the viii
lage OF Buxton in Section 4, Township
70, north of Range II west, In Monroe
county, Iowa, and may be extended
beyond said points when so deter.
mined by its stockholders and dlrec.
tors.
The said road shall be of standard
four foot eight and one.half inch
gauge, and shall be operated by elec.
triclty. or other practical power.
"One.half Of said tax shall be col.
lected the first year after the levy
thereof and one-half the following
year. One.half OF said tax shall be
payable TO the said company when It's
line shall have been completed and
In operation to the incorporated town
Of Beacon, and the remaining one,half
shall be payable to said company
when the said road Is fully completed
and in operation to the point near the
village Of Buxton above described.
Said road shall be fully completed
TO the Incorporated town Of Beacon on
or before the 1st day Of December,
1906, and to the village Of Buxton as
above located on or before. the 1st
day of}December, 1907.
at is proposed to issue first mort.
gage bonds I'm an amount not exceed.
ing eighteen thousand Ave hundred
dollars per mile for each mile Of said
road. Said bonds shall be in denoml.
nations Of Ave hundred dollars, shall
be dated January /, 1906, and due In
twenty years, and shall bear interest
at the rate Of Ave per cent per annum,
payable scmi.annually, said interest
to be evidenced by coupons attached
to said bonds, and the payment Of the
principal and interest OF the said
bonds shall be secured by first mort
gage on all property, real, personal or
mixed, Of said company and all It's
rights, privileges and easements, to
the end that the said bonds when Is.
sued shall constitute first lien on all
property of said company Of whatever
E.nd or description.
"rhe capital stock TO be issued to
tax payers under the proyi1lona ot the
Code Of Iowa and amenGm>ntx there
TO shall be subject to the len OF he
said bonds, and II shall be lawful 10
sell the said bonds or 70 pledge the
same as collateral as the Board Of
Directors Of the company may deter.
mine"