The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1911-02-20
Shall Oklahoma Build OlDn and
Operate Its Own Railroad Lines?

. -4-f" .E@-
Sec. .. n said bonds are 30 voted
oy majority Of the electors voting
AZ said election 20 called, 6, shall be
the duty Of the Governor and the Sec
retary Of the State 70 issue negOtia-
bIe five per cent bonds Of the State
Of Oklahoma in the sum of fifteen mil
lion dollars. payable. together with
the Interest thereon, in twenty-five
years. said bonds 10 be in denOmina-
lions Of one hunderd dollars each,
the interest and sinking fund to be
provided for by tax levy upon each
Of the counties named in said district
annually By the state board Of equal
izstlon.
Sec 4. Upon the voting Of said
bonds BY said district II shall be the
duty Of the State Board Of Public
Utilities 70 construct, equip, oper-
ate and maintain a standard guage
steam railroad from the northwest
part of the state 70 the southeast
boundary thereof in and through the
counties herein named as comprising
said benefit district number one
Sec. 3 II shall be the duty Of the
treasurer OF the State Of Oklahoma
To sell said bonds at not less than
par. and TO deposit the sums Of money
received therefor in the banks locat-
ed within the benefit districts in pro-
portion % the assessed valuation Of
each county in said district, securing
said deposits in the manner that 9TH
er moneys OF the state now deposit
ed In banks are secured, and the in
terest to be paid by said banks on said
deposits 10 be three per cent per an
num- and said banks in said district
are hereby, If they will accept the
charge, appointed agents Of the State
for the sale at par, or better, of such
portion OF said bonds as they think
they can dispose Of in their immed.
ate vicinity.
Sec. 6. If upon the final survey Of
the proposed railroad it shall be found
by the State Board of Public Utili-
ties that it will be impracticable to
construct the line without incurring
great expense and inconvenience
through any county heretofore named,
said county shall not be asked or
compelled to contribute any money to
the payment Of the interest or sink
ing fund heretofore provided for
Sec. :. 1t shall be the duty of the
State Board of Public Utilities and
the Board of Equalization Of the State
OF Oklahoma, upon the completion OF
the final survey upon which the road
shall be constructed, 10 ascertain and
fix the per cent Of the total indebt-
edness that shall be borne by each
county in said benefit district, and
upon such apportionment the State
Board Of Equalization shall levy such
taxes as may be required TO meet
any deficiency that may exist be-
tween the earnings of said railroad
and the annual interest and sinking
fund required by the Constitution
Sec. s. This law shall be in force
and effect on and after its approval
by the electors voting in said rail
road benefit district number one.
~~o~0~o~o~~~0O~~o~~-o~~ ~~~~~oO~~-~-~-~~-~-~-~~~o
to be made to obey the law or be
punished severely Respect for law
comes from honest elections, the can
didate is entitled to have credit for
every vote cast for him and it is to |
be hoped that the Legislature will en- |
act just such an election law as Gov |
ernor Cruce has asked it to pass.