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

TOWN OF NORTH LANCASTER
To the legal electors of the Town of North
Lancaster, Grant County, Wisconsin:
Notice is hereby given that special cleo
ton 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, copy of which
proposition is as follows, to-wit:
PROPOSITION.
To the Town of North Lancaster. Grant
County, Wisconsin:
THE CHICAGO SHORT LINE RAILWAY CON-
PANY, a corporation duly incorporated IN
der the laws of the State of Wisconsin, tor
the purpose of constructing, maintaining
and operating 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
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
Sitter in said county, or as near thereto as
may be practicable, said line passing
through the township of Platteville and the
city OF Platteyille in Grant County. traver-
sing the county of Lafayette through the
townships of Elk Grove, seymour Darling
ton. Shullsburg, Monticello, New Diggins
and Benton, reaching the cities of Darling
ton and Shullsburg and the village of Ben
ton by proper extensions or branch lines,
thence in 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-
ton 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 tatuteS OF 1898 and the sew
eral acts amendatOry Thereof and supple
mentary thereto:
First: That said town of North Lancaster
subscribe for one hundred eighty 1901 shares
of the capital stock OF said rallwaycOmpany
of the par value of Eighteen Thousand
rs, 0O0] Dollars in the manner and at the
time provided by statute under this agree
seventeen III intereSt-b caring coupon
bonds, one III of such bonds to be of the
denomination and face value of Two Thous-
and L2000l Dollars. and the remaining six
teen Cl6] bonds to be each of the denomina-
ton ana face value of Ore Thousand L100Ol
Dollars, making in all the amount of high
numbered conSecutively from one III to
Sevenl cen LII 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
pany or bearer, and to mature as follows:
Number one % for $1,000 to be payable on
June 1St, 1916
Number two ~ for 81 900 to be payable on
June 1St, 1917.
Number three 80 for $1,000 to be payable
on June 1St, 1918.
Number four "a for $1,000 to be payable on
June 1st 1919.
Number five 90 for $1,000 to be payable on
June 1SC, 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 go 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 QO) for $1,000 to be payable on
June 1St, 1926
NUMBER eleven C1) for $1,000 to be payable
on June ISt. 1926.
Number twelve (12) for $1,000 to be payable
on June lSt 1927.
Number thirteen O3) for $1,000 to be pay
able on June lSt 1928.
Number fourteen Q4) for $1,000 to be pay
able on June lSt 1929
Number fifteen Q5) for $1,000 to be payable
on June 1St 1880
Number sixteen (16l for $1,000 TO be payable
on June 1St, 1881.
Number seventeen 10 for $1,000 to be pay
Each of said bonds to draw interest at the
rate of four and one-half Az 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 ana made payable to
said railway company or bearer. and at
tached 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 com any; the said railway company
to be entitled to the interest only from the
time it bee comes 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
(30) 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 tax up
ditiOn 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
pany is to construct, maintain and operate
an electric railway of standard, ordinary
gauge. for the public use for the conveyance
of persons and property, with overhead
transmission lines for its power and with
its central power plant located in the city
of Lancaster, Grant County, Wisconsin,
such construction, maintenance and oper-
alton to be in several sections which shall
Ultimately connect and cover the route a
foresaid. One of such sections shall COM
mence al the city of Lancaster and extend
thence in an easterly direction to the east
line of the township of Ellenboro in said
Grant County, Wisconsin, said line being
the north and south line dividing the town
ships of Ellenl orc and Lima in said county.
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 north
and south line dividing the townships of
ElleEbero and Lima, in said Grant County,