Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1912-11-06

date of issue until fully paid. All install
men of interest on said bonds to be evil
executed by the proper officers of said town
of Ellenboro and made payable to said
railway company or bearer, and attached
to each OF said bonds respectively. All
interest not paid when, due to draw interest
at the same rate as the principal sum I'M
til 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
/, company shall become entitled to an alb
solute delivery OF said boz DIS, 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 rail-
way 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 issue
shall in all respects comply with the statutes
of this state authorizing them. ALI SAID
bonds shall be issued within thirty 1901 days
after the acceptance of this proposition by
said town of Ellenboro. AT such time as
said railway company shall nave earned
said bonds and become entitled to an alb
SOlute delivery thereof, and upon their
delivery to said railway company, the said
town of EllenbOro shall lawfully pass an
ordinance or resolution directing that there
shall be annually levied a tax upon ne
taxable property of said town, 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
company is to construct. maintain and oper-
ate an electric railway of standard, ordina-
ry gauge, for the public use for the convey
anCe 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 operation to
be in several sections which shall Ultimate
ly connect and cover the route aforesaid.
One of such sections shall N at the
city of Lancaster and extend I ence in an
/ a 1Cfnnlu 6IKnnf1nT fn tho .nnCf 1inn- nf fix
county of Grant, state OF Wisconsin,. the
same being the north and south dividing
line between the county of Grant and the
county of Lafayette, in the state
of Wisconsin Said railway company
shall have the Sa d section compIet-
ed and in operation by the passage OF cars
Lancaster TO said north and south line
dividing the counties of Grant and La
Fayette, in the state of Wisconsin, by or
before the first day of June, 1915, and as
soon as said section of railway is so COM
pleted and in operation the said railway
company shall be entitled to ali OF said
bonds and o receive the same from the
trustee hereinafter named upon the COndi
lions her einatter mentioned.
Third: reconsideration of the execution
and delivery OfSaid bonds said railway com
pany shall issue and deliver to said town of
Ellenboro two hundred (200) shares
of the capital stock ofsaid railway company.
of the par value of One Hundred (I0Ol Dol
lars each, being a sum in all equal, at the par
value of said stock TO the principal sum OF said
bonds; which stock shall be delivered to the
trustee hereinafter named, for the use of
said town, at the same times and in like
amounts as deliveries shall be made of said
bonds TO said railway company. its success
SOrS. or assigns. The said stock and bonds so
issued shall be deposited in escrow with The
Union State Bank of Lancaster, Wisconsin,,
as trustee, within thirty 600 days after de-
mand therefor by said railway company,
its successors or assigns; and whenever
said railway company, its successors or as
signs shall have earned or become entitled
to said bonds, said trustee shall deliver them
to said railway company, its successors or
assigns. forthwith. upon being rendered GER
t~ificateS for an equal amount of the capital
stock OF said railway company.
Fourth: The fact OF construction, COM
pletlon and operation OF said section OF rail
way may be proved by resolution of the
town board of said town of EllenbOro, or in
such other manner as may be agreed upon
by said town board and said railway COM
panY.
IN WITNESS WHEREOF, the said THE
CHICAGO HORT line RAILWAY COM
ecuted by its president and secretary, and
under its corporate seal. this 18th day OF
THE CHICAGO SHORT LINE
RAILWAY COMPANY
Corpor- By JOSEPH T. BENNETT
ate President
Seal A Q. NEVER
The legal voters of said town are further
notified to deposit a ballot at said special
election, upon which Is written or printed
or the words: Against the railroad DrOpOS-
ition." Those favoring the acceptance OF
said proposition by said town to cast a ballot
containing the words: For the railroad
proposition" and those opposed to the &C
ceptance of said proposition by said town to
cast a ballot containing the words: Against
the railroad proposition"
The voting place for said election shall be
as follows:
In the Town Hall, of the town of Ellen