Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1912-07-24

Notce Is hereby given that a special cleo
ton will be held in the several precincts in
the city of Lancaster on the
Doth DAY OF AUGUST. 1912.
for the purpose of submitting to the
legal electors of said ty the question
whether the said city shall accept the pro-
position for aid of The Chicago Short Line
Railway Company, Wisconsin corporation,
a copy of which proposition is as follows, to-
wit:
PROPOSITION.
To 2v the City Of Lancaster, Grant County,
THE CHICAGO SHORT LINE RAILWAY COM
PANY, a corporation duly incorporated under
the laws of the State of Wisconsin, tor the
purpose of constructing, maintaining and
operating a standard. ordinary gauge electric
railway, with overhead transmission lines
for It's power. with its central power plant to
be located in said city on Lancaster. for the
public use in the transportation of persons
and property within the counties of Grant
and Lafayette, in the State of Wisconsin
and. within the State of Illinois, over the fol-
lowing route tO-Wit:
From and to the City of Lancaster, Grant
County. Wisconsin extending through the
township of South Lancaster and the town
ships of BeetOwn, Glen Haven.'BloomingtOn
Patch Grove, Mount Hope, Mount Ida. Fenni-
more, Liberty, North Lancaster. EllenbOrO
and Lima and touching the city Of Lancaster,
the villages of North AndOyer, Bloomington,
Patch Grove. MountHOpe. Mount Ida, Fenni-
more and Sitter in said county. or as near
thereto as may be practicable, said line
passing through the township of Platteville
and the city of Platteville in Grant County,
traversing the county of Lafayette through
the townships of Elk Grove, Seymour, Darl-
ington. ShullSburg, Monticello, New DiggingS
and Benton, reaching the cities OF Darlington
and ShullSburg and the village of Benton by
proper extensions or branch lines. thence in
of Illinois to the city Of Chicago, the
terminus of said railway, desiring
aid, and being DESTROYS that said city
of Lancaster make subscription to its
capital stock. pursuant to the statutes in
such case made and provided. to be paid in
municipal bonds to be issued by said city of
position to said city of Lancaster pursuant
to Section 945 of the Wisconsin Statutes of
1898 and the several acts amendatory thereof
and supplementary thereto:
First: That said city OF Lancaster sub
scribe tor five hundred 5000 shares of the
capital stock of said railway company of the
in the manner and at the time provided and
authorized by statute unoer this agree
ment; such subscription to be payable in
seventeen ~ interest bearing coupon
bonds, one "a of such bonds to be of the de-
nomination and face value of two thousand
$4,000 dollars, and the remaining six
teen (16) bonds to be each of the
denomination and face value of three
thousand $4,000 dollars, making in all
the amount of fifty thousand $50
00O) dollars at par value, mum bered COnSeC-
utively from one (1) to seventeen I'D both in
elusive. not payable before maturity at the
option of said city. to be issued by said city
of Lancaster, made payable to the said rail-
way company or bearer, and to mature as
Number one III for $1,000 to be payable on
June l. 1916.
Number two ~ for $4,000. to be payable on
June I, 1917.
Number three [3l for s., 1000, to be payable
on June / 1918.
Number tour TAI for $4,000 to be payable on
June ], 1919.
Number i've Isl for $1,000 to be payable on
Number six Eel for $1,000 to be payable on
Number seven ri for $4,000 to be payable
on June [, 1922.
U Number eight Isl forIS3,OOO to be payable
on June l. 1923.
Number nine [9l for $4,000 to be payable on
June l, 1924
Number ten L10l for So, 700 to be payable on
June 1, 1925.
Number eleven I'LL for So, 600 to be payable
on June l. 1926
Number twelve 1871 for So 900 to be pay
able on June 1927,
Number thirteen [1S] tor 5000 to be pay
able on June /. 1928
Number fourteen [14l for 50, 900 to be pay
able on June /. 1929.
Mum Der fifteen, l5l Tor So 600 to be payable
on June l. $780,
Number sixteen [16l for $4,000 TO be pay
able on June I. 1881.
Number seventeen III for IS, 1000 to be pay
able on June /, 1882.
Each of said bonds to draw interest at
the rate of four and one-half per centum
| (41a) per annum. payable annually on the
first day of June in each and every year
from date of iSSr until fully paid. All in
StalmentS of interest on said bonds to De
evidenced by the proper interest coupons,
! to be executed by the proper officers of said
city of Lancaster and made payable to said
railway company or bearer. and attached to
each of said bonds respectively. All inter-
est not paid VIXEN due to draw interest at
the same rate as the principal sum until
paid. Both the principal and interest OF
National Bank. Chicago, Illinois, in cash.
All interest earned or accrued upon said
bonds up 20 the date when said railway COM
pany shall become entitled to an absolute
delivery of said bonds, to-wit, under the
terms of this proposition, shall be credited
and endorsed on said interest coupons at
the time of delivery of said bonds to said
railway company; the said railway COM
pany to be entitled to the interest only from
the time it becomes entitled to the bonds.
All said bonds shall be negotiable, and their
issue shall in all respects comply with the
statutes of this state authorizing them. All
said bonds shall be issued within thirty 1907
ton by said city of Lancaster. At such time
as said railway company shall haYe earned
sa1o DonuS ann become entltIea 70 an aoSolute
delivery thereof, and upon their delivery
to the said railway company, the said city
of Lancaster shall lawfully pass an ordi-
| nance or resolution directing that there
shall be annually levied tax upon the tax
able property of said city, in addition to all
other taxes, sufficient to pay, when due, the
interest 10 grow Que on SAID DOnQS. ana also
to pay and discharge the principal thereof,
as and by the time the same shall become
due.
SECOND: The purpose of said railway COM
pany is to construct, maintain and operate
an electric railway of standard, ordinary
gauge, for public use for the conveyance of
persons and property, with overhead trans
mission lines for its power and with it's
central power plant located in said city of
Lancaster, such construction, maintenance
and operation to be in several sections which
shall ultimately connect and cover the route
aforesaid. The first section shall commence
at said city of LancaSt,r and extend thence
in a SOuthWeSterly direction to the west line
of Section eighteen O8) township four az
North, Range four ~ West of the 4th p M,
in the town of BeetOwn in said Grant county,
Wisconsin The said railway company shall
have the said section completed and in
operation by the passage of cars thereOVer
continuously from said city of Lancaster to
said west line of said Section eighteen Q8,l
Town of BeetOWn, by or before the first day
of June. 1915. and as soon as said section of
railway is so completed and in operation the
said railway company shall be entitled to all
of said bonds and to receive the same from
the trustee hereinafter named upon che con-
ditiOnS hereinafter mentioned.
TRIRD: In consideration of the execution
and delivery of said bonds said railway COM
pany shall issue and deliver to said city of
| II ton. 0N-211 IF he