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

TOWN OF NORTH LANCASTER
To the legal electors of the Town of North
Lancaster Grant County, Wisconsin:
Notice is hereby given that special cleo
Gion will be held for said town, on the
9TH DAY OF AUGUST, 1912
Tor the purpose of submitting to the legal
electors of said town the question whether
the said town shall accept the proposition of
The Chicago Short Line Railway Company,
"a Wisconsin corporation, a copy of which
proposition is as follows, to-wit:
PROPOSITION.
To the Town of North Lancaster. Grant
County, Wisconsin,
THE CHICAGO SHORT LINE RAILWAY COM
PANY, a corporation duly incorporated un-
der the laws of the State of wisconsin, tor
the purpose of constructing. maintaining
and operating a standard, ordinary gauge
electric railway, with overhead transmits
sion lines for its power, with its central
power plant to be located in the city of Lam
caster in said Grant County. Wisconsin, for
the public use in the transportation of per-
sons and property within the counties of
Grant and Lafayette in the State of Wis
consin. and within the state of Illinois, over
the following route, to-wit:
From and to the City OF Lancaster. Grant
County, Wisconsin. extending through the
townships of South Lancaster, Beetown.
Glen Haven. Bloomington, Patch Grove, Mt.
Hope, Mt. Ida. FennimOre, Liberty, North
Lancaster, Ellenboro and Lima and touch
ing the city of Lancaster, the villages of
NOrth,Andover, Bloomington, Patch Grove
Mount Hope, Mount Ida, Fennimore and
may be practicable, said line passing
through the township of Platteville and the
city of Platteville in Grant County. traver-
sing the county of Lafayette through the
townships of Elk Grove, Seymour, Darling
ton. Shul1Sburg, Monticello, New DigginS
and Benton, reaching the cities of Darling
ton and ShuIlSburg and the village of Ben
ton by proper extensions or branch lines
thence in a southeasterly direction through
the state of Illinois to the city of Chicago,
the terminus of said railway,
desiring aid, and being DESTROYS that said
town of North Lancaster make a SubScrip-
tion 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 town of North Lancaster, hereby makes
the following proposition to said town of
North Lancaster, pursuant to Section 945 of
the Wisconsin Statutes of 1898 and the sew
eral acts amendatory thereof and supple
First: That said town of North Lancaster
subscribed one hundred eighty 1901 shares
of the capital stock of said railwaycOmpany
of the par value of Eighteen Thousand
Tl8 OO0l Dollars in the manner and at the
time provided by statute under this agree
ment; such subscription to be payable in
seventeen III interest-bearing coupon
bonds, one nj of such bonds to be of the
denomination and face value of Two ThOuS-
and I2000l Dollars. and the remaining six
teen l16l bonds to be each of the denomina-
tion and face value of One Thousand [1000l
Dollars. making in all the amount of Eigh-
numbered COnSeCutively from one eli 70
seventeen I17l both inclusive, not payable
before maturity at the option of said town,
to be issued by said town of North LancaS-
ter, made payable to the said railway COM
Dany or bearer, and to mature as follows:
Number one % for $1,000 to be payable on
June 1St, 1916
Number two ~ for $1,000 to be payable on
June lst, 1917.
Number three 90 tor $1,000 to be payable
on June 1St 1918.
Number four a. for $1,000 to be payable on
June list. 1919.
Number five 90 for $1,000 to be payable on
June 1St, 1920.
Number six (6) for $1,000 to be payable on
June 1st, 1921.
Number seven "a for $1,000 to be payable
on June 1St, 1922.
Number eight 80 for $1,000 to be payable on
June 1St, 1928.
Number nine (9) for $1,000 to be payable on
June 1st 1924.
Number ten OM for $1,000 to be payable on
June 1St, 1925
NUMBER eleven 1) for $1,000 to be payable
on June list. 1926.
Number twelve (12) for $1,000 to be payable
on June 1St 1927.
Number thirteen Q3) for $1,000 to be pay
able on June LIST, 1928.
Number fourteen Q4) for $1,000 to be pay
able on June 1St 1929.
Number fifteen Q0) for $1,000 to be PAYABLE
on June 1St, 1890
Number sixteen d6) for $1,000 TO be payable
Number seventeen az for $1,000 to be pay
able on June 1St, 1882.
EaCn OF SAID OOnQS TO OrdW interest Z the
rate of four and one-half [41a] per centum
per annum, payable annually on the first
day of June in each and every year from
date OF issue until fully paid. All install
mentS of interest on said bonds to be evil
denced by proper interest coupons. to be eX-
ecuted by the proper officers of said town
of North Lancaster and made payable to
said railway company or bearer, and at
Lached to each OF said bonds respectively.
All interest not paid when due to draw in
terest 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
bonds up to the date when said railway
company shall become entitled to an abb
Solute delivery of said bonds, to-Wit. under
the terms of this proposition, shall be cred
TIED and endorsed on said interest coupons
at the time of delivery of said bonds to said
railway company; the said railway company
to be entitled to the interest only from the
time it becomes entitled to the bonds All
said bonds shall be negotiable and their
issues snail in all respects comply with
the statutes of this state authorizing them.
All said bonds shall be issued within thirty
(30l days after the acceptance of this propo-
SitiOn by said town of North 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 said railway COMPANY the
said town of North Lancaster shall lawfully
pass an ordinance or resolution directing
that there shall be annually levied a tax up-
IN the taxable property of said town, in ad-
iition to all other taxes, sufficient to pay
When due, the interest to grow due said
1TCr N no md ba E,.a