Gilpin observer., 1912-10-10
q hen; and the General Assembly shah

same shall be necessary. by the General
Appropriation Bill. sums OF money suffi-
| cruing on the State Tunnel Bonds. is
| sued as provided herein in this Act and
the General Assembly shall by law pro-
vide for sinking fund to pay the State
| Tunnel Bonds at maturity. to be ere
ated out of the State Capitol Fund. be-
| ginning not later than eight years from
| the date of the taking effect of this Act
PROVIDED, however. that all or any
part OF the appropriation or sinking fund
not needed or used for such purpose. as
provided herein, shall remain in the Cen
eral Fund of the State and be subject to
further appropriation by the General AS
be ,ncluded in ann M h sna
OF the Tunnel
Sec. 3. All bonds described in Section
hereof. or. SO many thereof as may be
necessary. shall be used only for the pur-
pose of constructing tunnel through
the Main Range of the Rocky Mountains,
through the base of James Peak. and
of Toland. Gilpin County. on the line
of railway of The Denver, Northwestern
and Pacific Railway Company. and its
western portal near the town Of Arrow.
| in Grand County. on the line of railway
of The Denver. Northwestern and PacI-
fic Railway Company. together with the
ern and Western portals of said Tunnel:
said Tunnel to be sufficient In size. char
| struction of a single-track railway to be
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
amy and I5pos Pacific Raiway Gom
pany and The Continental Tunnel Rail-
way Company. their successors or as
signs. snail by warranty deed and other
proper conveyances transfer and deed to
the State of Colorado. in considera ton 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
or The Continental Tunnel Railway Com
pany, or either of them all of which
may be 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.
surveys, maps. plans. estimates and data
| 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
tway Company, their successors and as
signs. which shall upon the considera-
tions in this Act provided give to 81
| The Denver Northwestern and 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-
l 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 good and sufficient security
satisfactory to the State Tunnel Com
mission, and based upon the entire hold
i NJ said The Denver Mort rthweStern
! and Pacific Railway Company. its sue
cessors and assigns, for the payment OF
Tunnel Bonds issued under the provis-
ions of this act and shall pay the Tun-
mel Commission for the State of Colo
charge for such use the maturing IN
| terest on the total bonds issued nereun-
der; together with all necessary ex-
| pense of operation. maintenance and re-
pair, which shall constitute a fund to be
used solely for the purpose of paying
such interest without further order.
shall also be provided in said Contrac,
that The Denver Northwestern ara Pa
cific Railway Company. its successors
| and assigns, shall maintain said Tunnel
| in a first-class and safe condition; and
| in case The Denver. Northwestern and
Pacific Railway company. its successors
and assigns. shall at any time be caiie'
upon to pay, and shall pay the principal
! OF all OF said bonds at any time issued
under the provisions OF this Act and in
cluding all interest on said bond issue
| which has heretofore been paid by the
State of Colorado and all interest which
is due and accrued at the time of such
purchase and all salaries and expenses
of the Commission and all the expenses
of the State OF Colorado in referring this
the State, then the title to said Tunnel
shall vest in said The Denver North
western and Pacific Railway Company.
its successors and assigns, and the State
| Of Colorado shall by proper deed or con-
veyance transfer the property and rights
hereinbefore transferred by said The
N.atsf hun r.arF and - pa1
way Company and The Continental Tun-
mel Railway Company, together with the
said tunnel and tunnel rights to said The
Denver. northwestern & Pacific Rail
way Company its successors and as
signs. and the State of Colorado shall
cease to have any interest therein; With
! in thirty DAYS after any transfer
Of tunnel rights as last above noted the
| Tunnel Commission shall make final
\ report to the Auditor of State and shall
then cease to exist as state Tunnel
! Commission.
! At the time the contract provided for
in this section is entered into between
/ the State. and The Denver, Northwestern
and Pacific Railway Company and the
Continental Tunnel Railway Company.
| their SUCCESSORS and assigns, there shall
he included in said contract a clause by
which the said railway company agrees
with the State that by the time said tun-
will have established through service be-
tween Denver, Colorado, and Salt Lake
city, otan. tnrough the completion or
| the line of railway of said The Denver,
Northwestern and Pacific Railway Com
pany. its successors and assigns or by
| the building of a connecting line OF rail-
way between Orestod station on The
Denver. Northwestern and Pacific Rail-
way and Dotsero station on The Denver
and Rio Grande Railroad thus insuring
direct and through traffic through said
tunnel between said above named cities
Az the time the contract provided for
/ in this Section In entered into between
the Tunnel Commission on behalf of the
State, and The Denver. Northwestern
and Pacific Railway Company. its sue
| cessors and assigns there shall be in
cluded In said contract a clause by which
the said Railway Company guarantees
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 a first class
| negotiable security or bonds as collateral
security in an amount equal to said bond
ISSUE
Sec. s. The right to use said Tunnel