Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1912-07-31
NOTICE OF SPECIAL ELECTION
CITY OF LANCASTER


the city of Lancaster on The
GOTH DAY OF AUGUST. 1872
for the purpose of submitting to the
legal electors of said c 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 tie City Of Lancaster, Grant County,
THE CHICAGO SHORT LINE RAILWAY COM
PANY a corporation duly Incorporated under
the laws of the State of Wisconsin, for the
purpose of constructing, maintaining and
operating a standard ordinary gauge electric
railway, with overhead transmission lines
for its power. with its central power plant to
be located in said city of Lancaster for tho
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-w1t:
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.'BlOOmingtO
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,
trayersing 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
a sOuth-easterly direction through the State
of Illinois to the city OF Chicago, the
terminus of said railway, desiring
aid, and being DESTROYS that said city
of Lancaster make a subscription to its
cf6aA1
such case made and provided, to be paid in
municipal bonds to be issued by said city of
Lancaster, hereby makes the following pro-
position to sale 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 (500) shares of the
capital stock of said railway company of the
par value of fifty thousand $3.50 000 dollars
in the manner and at the time provided and
authorized by statute under this agree
ment; such subscription to be payable in
seventeen 10. interest bearing coupon
bonds, one % of such bonds to be of the de-
nomination and face value of two thousand
$4,000 dollars, and the remaining six
denomination and face value of three
the amount of fifty thousand $780,
OOG) dollars at par value, mum bered cOnSeC-
utively from one () to seventeen 40 both in
elusive, not payable before maturity at the
option of said city. to be issued by said city
/
wav company or bearer, and to mature as
N9mDer one III for $4,000 to be payable on
Number two III for $4,000, to be payable on
June l. 1917.
Number tour TAI for $1,000 to be payable on
Number i've [5l for $4,000 to be payable on
Number arV six {6l for s., 600 to be payable on
June l. 1921
Number seven III Tor S3,OOO 10 be payable
on June [. 1922.
ONumber eight Isl forES3,OOO 10 be payable
on June 1. 1873.
Number nine VI Tor IS. UUO 10 De payable on
Junel 1924.
Number ten [l0l for $4,000 to be payable on
June l. 1925.
Mum Der eleven Ill Tor S3,UOO TO be payable
on June l. 1926
Number twelve [i2l for $4,000 to be pay
able on June l 1927,
Number thirteen [18l for 5000 to be pay
| able on June I. 1928
Number fourteen [14l for 50, 900 to be pay
| able June |. 1929.
| Number fifteen, [l5l for So 600 to be payable
| on June l. 1880
Number sixteen [16l for $1,000 TO be pay
| able on June I. 1881.
Number seventeen III for So, 900 to be pay
/ able on June l, 1892.
| Each of said bonds to draw interest at
/ the rate OF four and One-half per centum
/ Az per annum. payable annually on the
| first day of June in each and every year
| from date of iSSI e until fully paid. All in
StalmentS of interest on said bonds to be
| 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 oraw interest at
| the same rate as the principal sum until
paid. Both the principal and interest OF
said bonds shall be payable at the First
National Bank. Chicago, Illinois, in cash.
/ All interest earned or accrued upon said
/ n nxxynp no 1yuq ~
| paGy 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
! PAW 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 (30)
! days after the acceptance of this PROPOSE
ton by said city of Lancaster. At such time
| as said railway company shall have earned
| said bonds and become entitled to an absolute
! 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 to grow due on said bonds. and 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
1 pany is to construct, maintain and operate
/ an electric railway of standard ordinary
4 gauge for public use for the conveyance of
! persons and properly, with overhead trans
mission lines for its power and with it's
| central power plant located in said city of
| Lancaster, such cor StructiOn, maintenance
1 and operation to be in several sections which
| shall ultimately connect and cover the route
aforesaid. The first section shall commence
4 at said city of LancaSt, and extend thence
! in d southWesterly direction /, the west line
/ of Section eighteen QS) township four AZ
/ North, Range four A West of the 4th p. IA.
1 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 Q81
| Town Of Beetown, by or before tle 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.
| THIRD: In consideration of the execution
| and delivery of said bonds said railway COM
| pany shall issue and deliver to said city of
| Lancaster five hundred (500l shares of the
| capital stock of said railway company. of the
| par value of one hundred C00) dollars each.
/ bp1nU a SUm in all equal. AT the mar Valup of