Gilpin observer., 1912-10-24

same shall be necessary. by the General
Appropriation Bill. sumk OF 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 sinking fund to pay the State
Tunnel Bonds at maturity. to be ere
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. as
provided herein. shall remain in the Cen
era1 Fund of the State and be subject to
further appropriation by the General As
sempny ,nS,ndad al such interest payments ITS shall
of the Tunnel.
Sec 3. All bonds described in Section
Q hereof or SO many thereof as may be
necessary shall be used only for the pur-t
pose of constructing a tunnel through
the Main Range of the Rocky Mountains:
through the base OF James Peak. and
of Tolland. Gilpin County. on the line
of railway of The Denver. Northwestern
western portal near the town Of Arrow.
In Grand County on the line OF railway
OF The Denver. Northwestern and Paci-
necessary approaches to both the East
ern and Western portals OF said Tunnel;
acter and capacity to permit of the con-
struction of a single-track railway to be
operated by steam or electricity. and TO
railway trains through the same. and not
to exceed in length five miles.
Sec 4. Within sixty days from the
taking effect of this Act. and before any
used for any purpose, The Denver.
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 State OF Colorado. in considera ton of
he N "a a
Act, without further compensation there
for, all rights of way. to both tunnel sites
maps. plans. estimates and data con-
nected with and necessary for said pro-
posed tunnel which are now owned or
western and Pacific Railway 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
surveys, maps. plans. estimates and data
shall be free and clear from all fncum-
brances.
There shall also be within sixty days
from the taking effect of this Act con-
tract or lease prepared and executed b!
the State of Colorado and The Denver.
Northwestern and Pacific Railway Com
pany and The Continental Tunnel Rail
way Company. their successors and as
sgn Sns in Thfs tha Aes give to
The Denver. Northwestern and Pacific
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 for. to-
wit: fifty years from date thereof; upon
forth. and also providing that The Den
yer. Northwestern and Pacific Railway
shall give a good and sufficient security
| satisfactory to the State Tunnel Com
mission. and based upon the entire hold,
and Pacific Railway Company its sue
cessors and assigns. for the payment OF
the principal and interest of all State
nel nohS commission % i @ % for the state Of Colo
charge for such use. the maturing in
| terest the total bonds issued nereun-
der; together with all necessary ex-
pense OF operation. maintenance and re, e.
pair, which shall constitute 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. its successors
and assigns shall maintain said Tunnel
in a first-ciass and safe condition; and
/ in case The Denver. Northwestern and
and assigns. shall at any time be ca,Ie
| 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
Guiding ali interest on said bond issue
| which has heretofore been paid bv the
State of Colorado and al interest which
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 title to said Tunnel
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-
| veyance transfer the property and rights
hereinbefore transferred by said The
| Denver, Northwestern and Pacific Rail-
way Company and The Continental Tun-
said tunnel and tunnel rights to said The
Denver. Northwestern & Pacific Rail
way Company. its successors and as,
signs. and the State of Colorado shall
cease to have any interest therein; with
in thirty days after any transfer
OF tunnel rights as last above noted the
| Tunnel Commission shall make final
report to the Auditor of State and shall
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
Continental Tunnel Railway Company,
their successors and assigns. there shall
| be included in said contract a clause by
which the said railway company agrees
with the 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. it's successors and assigns. 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 is entered into between
| the Tunnel Commission on behalf OF the
| State and The Denver. Northwestern
and Pacific Railway Company. its sue
oessors and assigns. there shall be in
| 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 first class
negotiable security or bonds cola teral
security in an amount equal to said bond
issue.
Sec. S. The right to use said Tunnel
hereby given to The Denver. Northwest