The Greeley tribune., 1912-10-24

A lieu, and the General Assembly sbauI
appropvl8te from time to line Wien "f the
| sam. aAtll be necessary. by the General
Appfopraton Bill. sums OF money suffi-
! clei,t w amount To pay the interest ac
| erul,h on the state Tunnel Bonds is
sueo q provided herein In this Act: and
va vids general SP 6 AssemSy ys shall ,a by law pro
| iuni ~ Hphds at maturity, to be ere
ated out of the State CapitoI Fund he
ginnigE not later than eight wears from
| tns ea.e gI the taking effect OF this Act
part Of the appropriation or sinking fund |
mol needed or used for such purpose a.
provIled herein, shall remain In the Gen.
erai Flud of the State and be subject to
furt en- appropriation by the General AS :,
semtly, an such Interest payments shall |
oe iAGi9ded in any estimate of the cost |
OF tue Tunnel.
So 3. All bonds described in Section |
heleot, or so many thereof may be
nectsslfy. shall be used only for the pur-
pose Of constructing a tunnel through
the Main Range of the Rocky Mountains,
throush the base of James Peak, and
havllE It's eastern portal near the town
of I9,land, GiIpin County. on the line
OF rhlWay OF The Denver, Northwestern
ana Pacific Railway Company. and its
weston portal near the town of Arrow.
In grand County. on the line OF railway
OF ! be Denver, Northwestern and PACT
ffc Railway Company, together with the
neces ssory approaches TO both the East
ern and Western portals of said Tunnel:
said Tunnel to be sufficient in size char
acteF and capacity TO permit of the con-
struction of a single-track railway to be
opeflted by steam or electricity, and to
permit OF the convenient operation OF
railwsy trains through the same, and not
to exceed in length five miles.
Sc 4. Within sixty days from the
takiug effect of this Act, and before any
bono hereby authorized are issued or
usec for any purpose. The Denver.
Northwestern and Pacific Railway Com
pany and The Continental Tunnel Rail
sign. shall iI'i;; by warranty deed and other
proper conveyances transfer and deed to
the State of Colorado, in consideration of
, tho 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-
! nsc,ed with and necessary for said pro-
posed tunnel which are now owned or
western and Pacific Railway Company
! or The Continental Tunnel Railway Com.
may be used by the Tunnel Commission
: in the construction of the Tunnel here
, in provided for. and which rights OF way
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 b.
Nor thwestern and Pacific Railway Com
: PAM and The Continental Tunnel Rail
: way Company. their successors and as
Z 4
I tions in this Act provided. give to s. .,.
The Denver. Northwestern and Paciflc
Railway Company, Its successors and as as
signs the right to use said tunnel FOR
railway purposes until the maturity OF
: the bond issue herein provided for. to-
wit; fifty years from date H. thereol; ot upon n,
yer. northwestern and Pacific Railway
. shall give 4 good and sufficient security
n sat.factory 70 the State Tunnel Com
i mission. and based upon the entire nold dn
: and Pacific Railway Company, Its sue, C,
!; cessors and assigns. for tho payment OF OF
the principal and Interest OF tns an nrovis.
n mel Commission for the State Of 3 Colo To-
= rsdo, from time time to to- time; fs: maturing G in
tsrest on the total bonds issued nereun-
der, together with all necessary ex-
pair, which shall constitute fund TO ,,se ne
used solely for the purpose OF paying
such interest without further ofGel; Eon;r. =,
thai The Denver. Northwestern and Pa
cifie Railway COMPANY, its successes 81 Tnsnn
snd as,sns ha and n:aae safs Condition sa
n ease The Denver, Northwestern and
+ Pacific Railway company. Its spccessor'
|. an6 asxigns shall at any time De ca.IS
J. IpSn to pay. and shall pay the prlncipa
r oflall OF said bonds at any time issued
under the provisions OF tins % Aor rd dhn issn, lm
u
b which has heretofore been paid by tbs
5 state of Colorado and all interest whicS
Is due and accrued at the tlme OF ase sues
" 81 the Commission and all the expenses
a Of the State OF COLORADO in referring m, Il,
+ The The state then the .ltle to sald Trnns Tan,sl
: shall vest in said The Denver Norsn.
r. western and Pacific Railway Company
of Colorado shall by proper deed or con
: veysnce transfer the property and right. n,
: hereinbsfore transferred oy eiaic saic Ran. ~.
Q way Company and The Continental Tun.
= mel Railway Company, together with m She
: said tunnel and tunnel rights 10 sa'd u me y,
= | Denver Northwestern Pacific kan
I signs. and the State Of Colorado 81 shall all
cease to have any interest," spv transfer
( of tunnel rights as last above noted the
II Tunnel Commission shall make mn
3 report to the Auditor of state anG snail
: thon cease to exist az state Iunnel
r Commission.
r At the time the contract provided for
In this section IS entered ,ntI bsbaIT petTee OF
: the State, and The Denver. Northweste i II
and Pacific Railway Company anu IN tle
: Continental Tunnel Railway Company,
D their successors and assigns. there shall
be included in said contract clause ny
which the said railway COMPANY asreu. t'seA
with the State that by the time saio tun-
mel In completed said railway company
, will have established through service ,eo De,
tween Denver. Colorado, anu Sait L-ahe
, city, Utah. through the completion OF
the limo of railway Of said The Denver
Northwestern and Pacific Railway Com
: pany. its successors and assigns, or oy
the building OF a connecting limo OF rsii, sil.
way between Orestod station on me
Denver Northwestern and Pacific Raii-
way and Dotsero station on The Denver
and Rio Gr.nde Railroad thus M ,nsurinS q
tunnel hetween said above named cities.
At the time the contract provided Tor
in this Section is entered into between
the Tunnel Commission on behalf or the
State and The Denver, Northwestern
and Pacific Railway Company. ITS sue
cessors and assigns there shaii De m
kcuded in said contract a clT Use pN WHlcm
the said Railway Company guarantees
the full and for final payment ynn ,,arest 9t at
accruInr thereon and the faithful per-
formance OF all contracts. shall deposit
with the Tunnel Commission mrs, class
negotia Bile security or bonds as collateral