The Elbert County tribune., 1912-11-01

approptiate from time 10 time, when the
same shall be necessary, by the General
Appropriation Bill sums or money suffi-
cient In amount to pay the interest ac-
sued as provided herein In this Act: and
the General Assembly shall by law pro-
vide for a sinking fund 70 pay the State
Tunnel Bonda Mt maturity. to be cre-
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; ns
eral Fund OF the State and be subject to
further appropriation by the General AS.
sembly: all such interest payments shall
be included in any estimate OF the cost
of the Tunnel
Sec g. All bonds described In Section
necessary. shall be used only for the pur-
pose Of constructing a tunnel through
the Main Range of the Rocky Mountains,
| having Its eastern portal near the town
OF Toilnnd. Gilpin County, on the line
and Pacific Railway Company. and it's
western portal near the town OF Arrow.
in Grand County. on the line of railway
| fic Railway Company. together with the
necessary approaches to both the East
said Tunnel 10 be I sufficient in M Size, Char char.
acter and capacity to permit Of the con-
struction of single-track railway to be
permit OF the convenient operation of
railway trains through the same. and not
to exceed In length five miles
Sec. L. within sixty days from the
bonds hereby authorized are issued or
used for any purpose. the Denver
pany pan "d'srh and The eS Continentai % Tunnel Rail
way Company. their successors or as
signs. shall by warranty deed and other
proper conveyances transfer and deed to
| the State of Colorado in consideration 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-
posed posed tunnel which are now owned or
possessed by said The Denver. North
western and Pacific Railway, Company
or The Continental Tunnel Railway Com
may be used by the Tunnel Commission
in provided for. and which rights OF way
and approaches and tunnel site. filings.
| surveys. maps, plans. estimates ana data
brances.
There shall also be within sixty days
from the taking effect of this Act con-
the State Of Colorado and The Denver.
Northwestern and Pacific Railway Com
pany and The Continental Tunnel Rail
way Company, their successors and as
lions in this Act provided, give to -
| 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 Tor, to-
wit: fifty years from date thereof; upon
the terms and conditions In this Act set
yer, Northwestern and Pacific Railway
| Company. Its successors and assigns.
shall give a good and sufficient security
| satisfactory to the State Tunnel Com
mission. and based upon the entire hold
J ings OF said The Denver. Northwestern
and Paoifis Railway Company ,S =. vsns l.s suei Sf
the principal and interes; OF nil State
Tunnel Bonds Issued under the provis-
nsi lon' % ahis for the sats % u coo-
| rado, from time to time. as toll or
charge for such use snd the .asa maturing In
| der; together with all necessary ex-
pense OF operation. maintenance and re
| used solely for the purpose of paying
| such interest without further order.
shall also be provided In said Contract
| cific Railway Company Its successors
| and assigns, shall maintain said Tunnel
in case The Denver. Northwestern and
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
which has theretofore been paid by the
| State of Colorado and all interest which
| is due and accrued at tho time OF such
OF the Commission and all the expenses
| of the State of Colorado.in referring this
BIN to vote Of the people ineSr1ed Inc, by
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-
| yeyance transfer the property and rights
hereinbefore transferred by said The
| Denver, Northwestern and Pacific Rail-
way Company and The Continental Tun-
mel Railway Company, together with the
said tunnel and tunnel rights ,s to SAID u The IN
signs. and tie State Of Colorado shall
cease to have any interest therein; with
| OF tunnel rights as last above noted the
Tunnel commiasion shan = make q ,I final
then cease to exist as state Tunnel
Commission.
At the time the contract provided for
in this section Is entered into between
the Tunnel Commission, on behalf of
the State and The Denver. Northwestern
and Pacific Railway Company and the
| their successors and assigns. there shall
be included In said contract a clause by
with the State that by the. time seid tun-
| mel Is completed said railway company
will have established through service be-
tween Denver, Colorado, and Salt Lake
| City, Utah, through the compilation of
| 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 Dotssro station on The Denver
and Rio Grnnde Railroad thus insuring
direct and through traffic through said
tunnel between said above named cities.
At tho time the contract provided for
in this Section Is 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 n 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