The Elbert County tribune., 1912-10-11

same shall be necessary. BY the General
Appropriation Bill. sums or money suffi-
:rnns on sso STATE 20 p sns ssnss %
sued as provided herein in this Act; and
the General Assembly shall by law pro-
VIDE Tor sinking fund to pay the State
Tunnel Bonds at maturity to be Gre
atsd out of the State Capitol Fund be-
The dsie of the taking effect feet q this aoo Aea
PROVIDED. however. that all or any
part OF the appropriation or sinking fund
not needed or used for such purpose as
provided herein. shall qemain In the Cen
ersl Fund OF the State and be subject TO
further appropriation by the General As
sembly; all such Interest payments shall
be incinded in any estimate of tho COST
OF the Tunnel.
See. 3, All bonds described In Section
hereof. or SO many thereof may be
necessary. shall be used only for tho pur-
pose of constructing a tunnel through
through the base OF James Peak. and
having It's eastern portal near the town
OF rsiIWay ' of n TRs ponyer p Nonthmesteps ne ens
and Pacific Railway Company and Its
western portal near the town OF Arrow.
OF The Denver, Ncrthwestern and Paci-
fie Railway Company. together with the
ern and Western portals OF said Tunnel;
said Tunnel to be sufficient In size. char
acter and capacity TO permit OF the con-
operated by steam electricity. and to
permit of the convenient operation of
to exceed in length five miles.
SEQ. L. Within sixty days from the
taking effect of this Act, and before any
bonds hereby authorized are issued or
Nerthwestern any and Issi Ppcfic 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 State of Colorado. in consideration OF
the advantages to be derived from this
A ct
for, all rights OF way. to both tunnel sites
and approaches thereto. filings. surveys.
nseted with and necessary for said pro-
posed tunnel which are now owned or
%sss.rn and Paefe saa ns Ra%ay Company
or The Continental Tunnel Railway Com
pany. or either of them. all of which
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:
shall he free and clear from all incum-
brances.
There shall also be within sixty days
from the taking effect OF this Act con-
tract or lease prepared and executed BY
the State of Colorado and Ths Denver.
Northwestern and Pacific Railway Com
| way Company, their successors and as
signs. which shall upon the considera-
The D.nver, Northwestern and Pacific
| Railway Company, Its successors and as
signs. the right to use said tunnel for Tor
| the bond issue herein provided for. to-
| wit. fifty years from date thereof; upon
forth. and also providing that The Dem
| yer, Northwestern and Pacific Railway
Company. It's successors ,a,nn, ana t,,, nasigns,
| satisfactory to the State Tunnel Com
mission. and based upon the entire hold
and Pacific Railway Company. It's sue
cessors and assigns, for tho payment OF
the principal and Interest Of all State
nsp Ga snis 1 fof 4: stats OF q coo
chaTxe char ron for sucs s W use. Il: maturing in
tsrest on the total bonds issued nereun-
der; tsgether with all necessary ex-
pair, which shall constitute a fund to be
used solely for the purpose of paying
such interest without further order.
shall also be provided in said Contract
that The Denver. Northwestern and Pa
cific Railway Company It's successor,
and assigns, shall maintain said Tunnel
in a first-ciass and safe condition: and
in case The Denver. Northwestern and
sa an time 1n be eml
upon to pay. and shall pay the principal
OF all OF said bonds at any time Issued
oluding all interest on said bond issue
which has theretofore been paid by the
statS OF Soiorcno crn.s ana a ~. 'niss tI wn,ch
/ purchase and all salaries and expenses
Of the Commission and all the expenses
Of the State of Colorado In referring this
Bill to a vote of the people incurred BY
the State, then the tltle to said Tunnel
shall vest in said The Denver. North
Its SUCCESSORS and assigns. and the State
of Colorado shall by proper deed or con-
pr1pe sna rbe
Denver. Northwestern and Pacific Rail-
way Company and Tho Continental Tun-
said tunnel and tunnel rights to said The
Denver. Northwestern q Pacific Rail
n9 s H Stat. sf dod shall
cease to have any interest therein; with
IN thirty days after any transfer
Tunnel Commission shall make final
report to tho Auditor of State and shall
then cease to exist as q state Tunnel
At the time tho contract provided for
| In this section is entered into between
the Tunnel Commission. on behalf of
and Paciflc Railway Company and the
Continental Tunnel Railway Company,
their successors and assigns. there shall
be included In said contract clause by
which the said railway company agrees
with the State that BY the time said tun-
ni, h. oofnpietea said ra,,Way company
City, Utah. through the completion Of
Northwestern and Pacific Railway Com
pany. Its SUCCESSORS and assigns or by
the building of 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 lnsuring
direct and through traffic through said
tunnel between said above named cities.
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 pacli,S dIS Rsilwsy Gompagy It's s. sue
cludcd in said contract clause by which
the said Railway Company guarantees
| the full and for final payment OF all
bonds issued hereunder and all Interest
sccruing thereon and the faithful per-
! formance of all contracts shall deposit
with the Tunnel Commission first class
negotiable security or bonds as collateral
| security In an amount equal to said bond