Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1912-08-07

TOWN OF SOUTH LANCASTER
To the legal electors of the Town of South
Lancaster, Grant County, Wisconsin:
Notice is hereby given that a 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, a copy of which
proposition is as follows, to-Wit:
PROPOSITION.
To the Town of South Lancaster. Grant
The CHICAGO SHORT LINE RAILWAY Com
PANY, a corporation duly incorporated I'M
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
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. EennimOre, Liberty, North
| Lancaster, EllenborO and Lima and touch
! ing the city of Lancaster, the villages of
! NOrthIAndOVer, 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 Plattev1lle and the
| city of Platteville in Grant County. traver-
| sing the county of Lafayette through the
| townships of Elk Grove, Seymour, Darling
! ton. ShpllSburg, Monticello New DigginS
and Benton, reaching the cities or Darling
| ton and Shullsburg and the village of Ben
| ton by proper extensions or branch lines,
| thence in southeasterly direction through
| hos rat nf m RI n 400
| the terminus of said railway,
| desiring aid. and being DESTROYS that said
| town of South 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 oy
said town of South Lancaster hereby makes
the following proposition to said town of
South 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 South Lancaster
SubscribefUrtwOh hundred twenty i220I shares
of the capital stock of said railway
of the par value of Twenty-Five Thousand
l22 000] 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, five Isl of such bonds to be of the
denomination and face value Of Two Thous-
and f20001 Dollars. and the remaining twelve
l12l bonds to be each of the denomina-
ton and face value OF ore Thousand 10000
Dollars, making in al the amount of Twenty
numbered consecutly ely from one III to
seventeen III both inclusive, not payable
before maturity at the option of said town,
to be issued by said town OF South Lancas-
ter, made payable to the said railway COM
pany or bearer, and to mature as follows:
Number one "a for $1,000 to be payable on
June 1St, 1916.
Number two 20 for 81 900 to be payable on
June 1St, 1917.
Number three 81 to- $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 C7) for $1,000 to be payable
on June 1St 1922.
Number eight (8) for $1,000 to be payable on
June 1St, 1923.
Number nine (9) for $1,000 to be payable on
June 1St, 1924
Number ten UO for $1,000 to be payable on
June 1st, 1925.
Number eleven QD for $1,000 to be payable
on June 1St 1926.
Number twelve (12) for $1,000 to be payable
on June list 1927
Number thirteen C3) for $1,000 to be pay
able on June 1St. 1923.
Number fourteen u4) for $4,000 to be pay
able on June lSt 1929.
Number fifteen QO for $1,000 to be payable
on June 1St, 1890
Number sixteen (16) for $4,000 10 be payable
on June 1St 1881
Number seventeen G7) for $1,000 to be pay
able on June 1St 1892
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. AL 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 South Lancaster and made payable TO
said railway company or bearer and at
Iached 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 alb
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 shall in all respects comply with
the statutes of this state authorizing them.
All said bonds shall be issued within thirty
go days after the acceptance OF this prOpO-
SitiOn by said town of South 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 South Lancaster shall lawfully
pass an ordinance or resolution directing
that there shall be annually levied a tax up
on the taxable property of said town, in adj
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
trans mission lines for its power and with
! it's 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
! aforesaid. One of such sections shall COM
mence at the city of Lancaster and extend
| thence in an easterly direction to the east
line of the towns nip of EllenbOro in said
Grant County, Wisconsin, said line being
the north and south line dividing the town
| ships of EllenlorC 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