Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1907-08-08


enact as follows
Section l. Section 921, statutes of 1898,
is amended to read Section 921. All con-
tracts for the performance of any work or
the purchase OF any materials, In any such
village, exceeding one hundred
dollars, shall be let by the village board to
the lowest bidder in such manner as they
may prescribe.
Approved June 10, 1907
No. 500, AL Published June 20. 1907.
CHAPTER 246, LAWS OF 1907.
AN ACT to create section 22o8m of the
statutes relating to a deed reserving
life estate.
The people Of the State Of Wisconsin,
represented in Senate and Assembly, do
Section l. There Is added to the stat
utes new section to read Section 220Sm.
Deeds reserving life estate may be sub
DEED REsERVING A LIFE ESTATE.
A. B., grantor, OF ....... county, Wis
consin,. hereby conveys unto C. p, gran
for for the sum Of (here also u state any y' other
consideration dollars, the following tract
OF i rand IN ;;.,i'''''''' county, mere oe-
To have and to hold said tract Of land,
together with the appurtenances thereto,
unto the said c. D., the said A. B. re
serving unto himself a life estate in said
| tract Of land for his own life and for the
life Of there insert the name Of the wife
! or other person for whose life life es-
tate Is reserved).
And the said c. D., as a part of the
consideration for the grant of said tract
| OF land does agree to assume and pay
| there state any incumbrance that may be
! assumed by the grantee or any agree
ment that may be had in regard to the
payment Of taxes, assessments, etc, by
Witness the hand and seal Of said
grantor, this ........ day OF ...........
In presence Of:
| ............
| .........,
.''.''''''''' $500. Seai
oedlJ
Such deed when executed and acknowl
edged as required by law shall reserve to
the grantor or other person or persons,
for whose lives a life estate is reserved
and to the survivor of them, a good and
sufficient title and right to the exclusive
possession of the lands conveyed, until
the death of all the persons for whose
lives such estate is reserved; and upon
the death Of all the persons for whose
lives such an estate is reserved the fee to
such lands shall vest absolutely in the
Approved June 10, 1907.
No 612. AL Published June 20, 1907.
CHAPTER 247, LAWS OF 1907.
AN ACT to enable cities of the first class
to acquire, own and operate railway
| terminals, including main tracks, belt
lines, spurs, sidetracks and other neces-
sary connections, and granting author
ity to any such city to rent or lease
the same to railroads and other common
carriers and to authorize private per-
| sons and corporations to connect there
| with, and TO issue bonds or railway
terminal certificates In payment there
for.
The people of the State of Wisconsin,
represented in Senate and Assembly, do
enact as follows
Section 1. The term railway termi-
nails" as used in this act shall include
I Citations main FRA pES bplf lines,
sidetracks, spurs and property of what
J ever nature used in connection Herewith.
Section 2. Cities of the first class are
hereby authorized and empowered to ac-
! Quire, establish, own and operate railway
! terminals and to permit connections there
! with by private persons and corporations
/ and other property In the manner pro
vided by law, and may erect keep and
maintain such buildings and equi pment
thereof as the common council of said
! city shall by ordinance provide,
| Section 3. Every city acquiring or es-
! tablishing any railway terminals under
lied and empowered to rent, lease or per
! nit the use Of the same CT any part there
of upon such terms and for such compen-
sation as may be agreed upon between lie
common council Of said city and any rail-
road desiring to use the same, and may
! permit connections Herewith by private
/ persons or corporations by means Of spurs
| or sidetracks on such terms and condi-
lions as may be agreed upon between the
persons or corporations desiring to use
the same and the common council OF said
city.
to agree upon the terms for the use of
said railway terminals either party may
appeal to the railroad commission OF Wis
consin, which shall have power to fix
Section 4. The cities acquiring and es-
tablishing railway terminals under the
provisions of this act are hereby author
nd iGCIJQ
mnal certificates" In payment OF the
whole or any part Of such terminals. Such
railway terminal certificates shall not be
or become an obligation or liability or the
city, or payable out of any general FUND
thereof, but shall be payable solely out
of a specified portion Of the revenue or
income to be derived from the rental Of
such railway terminals, for the acquisition
or purchase of which they are issued. Such
railway terminal certificates shall not be
Issued and secured on any railway terml-
nal property in amount In excess OF the
cost to the city of such property, as here
inbefore provided, and ten per cent. OF
such cost in addition thereto.
In order to secure the payment or any
such railway terminal certificates and the
interest thereon, the city may convey by
way Of mortgage or deed Of trust, any or
all Of the right-of-way and property ac-
ouired or to be acquired through the Issue
Of such railway terminal certificates, when
mortgage or deed of trust shall be issued
in such manner as shall be directed by the
CITY council, and acknowledged and re
corded in manner provided by law for the
ACKNOWLEDGMENT and recording OF mort
cages on real estate and may contain SUCH
provisions and conditions not In conflict
with the provisions Of this act, as may be
deemed necessary to fully secure the pay
ment of the railway terminal certificates
described therein.
Any such mortgage or deed of trust may
carry the grant Of a privilege or right TO
maintain or operate railway terminal prop
erty acquired thereby, for a period not ex-
ceedinr twenty years from the date when
such property may come into the posses
sion Of any person o. corporation as the
result Of foreclosure proceedings, which
privilege or right may fix the rates OF fare
and freight which the person or corpora
ton securing the same as the result OF
foreclosure Shall be entitled to charge in
the operation Of SAID property Tor pc
Rod not exceeding twenty years, subject
to authority of the railroad commission.
Whenever, and as often as default shall
be made in the payment of any railway
terminal certificates issued and secured by
mortgage or deed Of trust as aforesaid, or
when due and any such default shall have
continued for the space of twelve months
after notice thereof has been given to the
mayor and comptroller OF the city issuing
such certificates IT shall be lawful for any
such mortgage or trustee, upon the re-
quest of the holder or holders Of a ma
jority In amount Of the certificates issued
and outstanding under such mortgage or
deed of trust, to declare the whole principal
or all of such certificates as may be out
standing to be at once due and payable,
and to proceed to foreclose such mortgage
or deed Of trust IN any court OF competent
Jurisdiction. At a foreclosure sale the
Gates may become tie purchaser or pur-
chasers Of the property and the rights and