The Greeley tribune., 1912-10-10

= .t.'A Al' NftUtrul Assembly snail
approp l1le from time to time, when the
AppropfiutiOn Blll sums OF money smffi
cient ~ Ampunt to pay the interest nc-
crutng On the State Tunnel Eonds is
sued a. provided herein in This Act: amd
the General Assemblv shnu he nv ,'rn' "n"
Nioe ~ "a sinking fund To pay the State
Tunnel Bonds nj mnturitv 10 ho cro
| ateN oul OF the State Capitol Fund, be
Einhint h9t later than eight years from
| the ga ol the taking effect of this Act
PkcSl ! JED, however. that all or any
part OF ihe appropriation or sinking fund
not neeIyd or used for such purpose as
pTovig'u u hereln, shall remain In the Gen
erai full OF the State and be subject to
furthei appropriation by the General As.
| sempE 4lI such interest payments shall
BE- Ss tss iSs34aa aSnt p any estimate Of the cost
Sec = All bonds described In Section
| heTe"l, or so many thereof as may be
| necess ~, shall be used only for the pur-
pose 'l cnhstructing a tunnel through
the MINI Range of the Rocky Mountains,
throuen The bnse of James Peak and
| having its eastern portal near the town
| OF TolibHd, Gilpin County on the line
| of ratWuy of The Denver Northwestern
and faetic Railway Company and its
| westeru portal near the town Of Arrow
| Of IN. Denver. northwestern and pacI-
| ftc RAILWAY Company, together with the
| necessary approaches to both the East
| ern an Western portals of said Tunnel:
| said Igunel to be sufficient in size. char
acter ana capacity to permit of the con-
| btTuStiAA hl IL SllE TallWuy 10 DC
operated by steam or electricity and to
permit OF the convenient operation of
railway trains through the same, and not
to exceed In length five miles.
Sec. 4. Within sixty days from the
taking effect of this Act. and before any
bonds hereby authorized are issued or
used Tor any purpose, The Denver,
Northwestern and Pacific Railway Com
pany and The Continental Tunnel Rail-
way Company. their successors or as
signs, shall by warranty deed and other
proper eonveyances transfer and deed to
| the Statg of Colorado. in consideration of
the advantages to be derived from this
Act. without further compensation there
| for. all rights of way. to both tunnel sites
and approaches thereto, filings. surveys,
maps. plans. estimates and data con-
nected with and necessary for said pro-
posed tunnel which are now owned or
possessed by said The Denver, North
/ western and Pacific Railway Company
or The Continental Tunnel Railway Com
panX or either of them. all OF which
| may yRie used by the Tunnel Commission
in the construction OF the Tunnel here
in provided for. and which rights of way
and approaches and tunnel site, filings.
survey. maps, plans. estimates and data
| shall be free and clear from all incum-
byances.
There shall also be within sixty days
| from the taking effect of this Act con-
tract or Lease prepared and ,; executed b!
the State of Colorado and The Denver.
Northwestern and Pacific Railway Com
pany and The Continental Tunnel Rail
signs. which shall upon the considera-
tions IN this Act provided, give TO s.,
The Denver Northwestern ard Pacific
Railway Company. its successors and as
signs. the right to use said tunnel for
railway purposes until the maturity OF
the bond issue herein provided for. to-
wit: fifty years from date thereof; upon
the terms and conditions in this Act set
forth. and also providing that The Den
yer. Northwestern and Pacific Railway
COMPANY its successors and assigns
shall give IA good and sufficient security
satisfactory to the State Tunnel Com
mission, and based upon the entire hold :,
inRs of said The Denver. Northwestern
and Pacific Railway Company. Its sue,
cessors and assigns, for the payment OF
the principal and interest OF an s,h.e .i..
ions of this act and shall pay the run
mel Commission for the State OF Colo-
RADIO. from time to time, as toil %, o'
charge for such use, the mat turlng IN
terest on the total bonds issued nereun'
der; together with all necessary ex'
pense Of operation maintenansce sa ahu "a re t,.
used solely for the purpose OF paying
such interest without further order
shall also be provided in said Contrac' az,
lcific railway Company. its successor.
and assigns, shall maintain sad Tunne
in q first-class and safe condition, an, an,
in case The Denver. Northwestern an,
Pacific Railway company. its successor
and assigns shall at any time be caiie'
uSaA ~ pay, and shall pay the princlpa
under the provisions of this Act and in
cluding all interest on said bond issu
which has heretofore been paid by tn.
State Of Colorado and all interest whici
Is due and accrued at the time OF suci
purchase and all salaries and expense!
tne CommissiTn ado IA al referrine efe thl
Bill to vote of the people incurred b!
the State, then the title TO said Tunne
shall vest in said The Denver North
western and Pacific Railway Company
its SUCCESSORS and assigns and the Stat'
of Colorado shall by proper deed or con
veyance transfer the property and right!
Denver, Northwestern and Pacific Rail
way Company and The Continental run
mel Railway Company, together witn tn'
said tunnel and tunnel rights to said The
Denver. Northwestern ~ Pacific Rail
way Company, its successors s.,,s,,a ana s,,a, as
signs ana the STATE ,ss, o. Iplorr ,bsrein! with
in thirty days after any transfer
of tunnel rights as last above noted the
Tunnel Commission shall make a tina
report to the Auditor of State and shall
then cease to exist as state Iunhe
Commission.
At the time the contract provided FOL
the Tunnel Commission. on behalf OF
the State. and The Denver. Northwestern
and Pacific Railway Company and IN.
their successors and assigns. there shall
be included in said contract clause b.
which the said railway company agrees
|
mel 10 completed said railway company
will have established through service pc
tween Denver Colorado. and salt Lake
City. Utah. through the completion OF
the line OF railway of said The Denver
Northwestern and Pacific Railway Com
pany. Its successors and assigns. or by
the building of connecting line OF rail raj
way between Orestod station on The
Denver Northwestern and Pacifir Rali-
way and Dotsero station on The Denver
and Rio Grande Railroad thus insurinE
direct and through traffic through said
| tunnel between said above named cities.
Al the time the contract provided Tor
| in this Section Is entered into between
the Tunnel Commission on behalf OF the
state and The Denver. NorthWessern ". Tern
oessArs and assigns. there shall be in
Guided IN said CONTRACT clanss by ~n.ss .es,
the full and for final payment of all
bonds issued hereunder and all interest
accruing thereon and the faithful per
, formance OF all contracts. shall deposit
with the Tunnel Commission first class
negotiable security or bonds as collateral
r,,r@er Isr Mt n