The Elbert County tribune., 1912-10-18

same shall be necessary, by the General
Client In amount to pay the interest ac-
cruing on the State Tunnel Bonds. is |
sued as provided herein In this Act: and |
the Gensral Assembly rhall by law pro- |
vide form sinking fund to pay the State |
Tunnel Bonds at maturity. to be Gre |
ginning not later than eight years from |
the date OF the taking effect OF this Act. |
pRovlfpsED; :, " ~. hnweyer; that al or any
not needed or used for such purpose as
provided herein, shall remain In the Gem
eral Fund OF the state and be subject to
furtier appropriation by the General AS
sembiy; all such Interest payments shall
be included in any estimate OF the cost
Sec. 3. All bonds described in Section
2 hereof or many thereof as may be
necessary. shall be used only for the pur-
the Main Range OF the Rocky Mountains,
through the base of James Peak. and
having its eastern portal near the town
of Tolland Giipin County, on the line
OF railway of The Denver. Northwestern
and Pacific Railway Company. and Its
western portal near the town or Arrow.
In Grand County. on the line OF railway
OF The Denver, Northwestern and Paci-
10 SosS the f Eas
ern and Western portals OF said Tunnel.
said Tunnel to be sufficient in size. char
acter and capacity to permit OF the con-
struction OF single-track railway to be
operated by .steam or electricity. and to
permit OF the convenient operation of
railway trains through the same and not
to exceed in length five miles.
Sec. T.. Within sixty days from the
taking effect of this Act, and before any
Ssed Si' for s'sS any % pappose. S The Sios penver
Northwestern and Pacific RAILWAY Com
pany and The Continental Tunnel Rail-
way Company, their successors or as
signs. shall by warranty deed and other
proper conveyances transfer and deed to
the advantages TO be derived from this
Act without further compensation there
for all rights OF way; to beth s,,n tunnel sites
maps. plans. estimates and data con-
nected with and necessary for said pro-
possessed by said The Denver. North
western and Pacific Railway Company
or This Continental Tunnel Railway Com
may be used by tho Tunnel Commission
in the construction of the Tunnel here
and approaches and tunnel site, filings.
surveys, maps, plans. estimates and data
shall be free and clear from all incum-
brances
There shall also be within sixty days
| from the taking effect of this Act a con-
tract or lease prepared and executed by
Northwestern and Pacific Railway Com
pany and The Continental Tunnel Rail-
| way Company, their SUCCESSORS and as
signs. which shall upon the considera-
tions In this Act provided, give 70 81
The Denver. Northwestern and Pacific
Railway Company. It's successors and as
signs. the right to use said tunnel for
| railway purposes until the maturity of
shs s Gpna ffy years 9rom date tSsreo
the terms and conditions in this Act set
forth. and also providing that The Dem
Company its succcssors and assigns.
shall give good and sufficient security
ara sa,ea 10 sae upon the entire Soia
] ings OF said The Denver. Northwestern
and Pacific Railway Company. it's sue.
tse ps,neleai ahe snd ntsrest of ali stats
Tunnel Bonds. issued under the provis-
q ns sss sna os 4: sEas tas n
rsdo from time to time as,,,t,na as toll ,or or
der; together with all necessary ex-
pense Of operation. maintenance and re-
pair, which shall co eonstitnse FUND a to s,ns be
such interest without further order,
shall also be provided In said Contract
cific Railway Company. It's successors
| and assigns, shall maintain said Tunnel
IN a firstsclass , and safe ~ eondition; and nd
and assigns. shall at any time be caue
ofPG Of all e Ok si said bonds al any time issued
under the provisions of this, Act and In
cluding all interest on said bond issue
which has heretofore been paid by the
State OF Colorado and all interest which
Is due and accrued at the time of such
purchase and all salaries and expenses
Of the state OF Colorado In referring this
Bill to vote Of the people incurred by
shall vest in said Tho Denver. North
western and Pacific Railway Company.
OF Colorado shall by proper deed or con-
veyance transfer the property and rights
hereinbefore transferred by said The
way Company and Tho Continental Tun-
mel Railway Company, together with the
said tunnel and tunnel rights to said The
nan arf h tra . e. Il.
signs, @ and the State Of Colorado shall
in In thirty days after any transfer
Of tunnel rights as last above noted. the
Tunnel commissiSn .S, shell u, s,a, make "a final final
then cease to exist az state Tunnel
Commission.
At the time tho contract provided for
the funnel Commission. on behalf OF
| the State, and The Denver. Northwestern
and Pacific ts,. Railway p Company and the
their successors and assigns. there shall
be included in said contract a clause by
which the said railway company agrees
with tho State that by the time said tun-
mel Is completed said railway company
will have established through service be-
tween Denver, Colorado. and Salt Lake
City. Utah. through the completion of
the line OF railway of said The Denver
pany. lis 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 Dotsero station on The Denver
and Rio Grande Railroad thus insuring
direct and through traffic through said
| tunnel between said above named cities.
At the time the contract provided for
| in this Section In entered into between
State, and The Denver. Northwestern
| and Pacific Railway Company. its sue
cessors and assigns. there shall be in
| the said Railway Company guarantees
the full and for final payment OF all
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
issue.