Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1912-07-17
COUNCIL HAS CALLED
SPECIAL CITY ELECTION
Continued from First Page

bonds, one ul of such bonds to be of the de-
nomination and face value of two thousand
$4,000 dollars, and the remaining six
teen n6) bonds to be each of the
denomination and face value of three
thousand ($3OOV dollars, making in all
the amount of fifty thousand ESQ.,
OOC) dollars at par value, numbered ConSec-
utively from one ~ to eighteen QS) both in
elusive. not payable before maturity at the
option of said city, to be issued by said city
of Lancaster, made payable to the said rail-
wav company or bearer, and TO mature as
follows:
Number one III for $4,000 to be payable on
Juue /, 1916
Number two ri for $4,000. to be payable on
June l. 1917
Number three [3l for $4,000. to be payable
on June I. 1918.
Number four al for $4,000 to be payable on
June ], 1919.
Number five [5l for $1,000 to be payable on
June l, 1920.
Number six Gel for 81, 600 to be payable on
June 1, 1921.
Number seven ri for $1,000 to be payable
on June [, 1922.
uNumber eight Isl forDS3,OOO to be payable
on June l. 1873.
Number nine [9l for $4,000 to be payable on
June l. 1924
Number ten [1Ol for 50, 900 to be payable on
June 1, 1925.
Number eleven iii for s., 600 to be payable
on June l, 1926.
Number twelve 1921 for So, 900 to be pay
able on June 1927
Number thirteen [lSl for So, 900 to be pay
able on June /. 1923,
Number fourteen f4l for S., 900 to be pay
able on June |, 1929.
Number fifteen, Isl for So 900 to be payable
on June l, 1880.
Number sixteen T16l for So, 000 to be pay
able on June I. 1881.
Number seventeen I'M for S., 900 to be pay
able on June l, 1892.
Each Of said bonds to draw interest at
the rate OF four and One-half per Centum
(41a) per annum, payable annually on the
first day of June in each and every year
from date of iSSL until fully paid. All in
Stalments of interest on said bonds to be
evidenced by the proper interest coupons,
to be executed by the proper officers of said
city of Lancaster and made payable to said
railway company or bearer. and attached to
each of said bonds respectively All inter-
est not paid wien due to draw interest 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 COM
pany shall become entitled to an absolute
delivery of said bonds. tO-wit, under the
terms of this proposition, shall be credited
and endorsed on Sa d interest coupons at
railway company, the said railway COM
pany to be entitled to the interest only from
the time 1t becomes entitled to the bonds
All said bonds shall be negotiable and their
issue shall in all respects comply with the
statutes of this state authorizing them. All
said bonds shall be issued within thirty (30)
days after the acceptance of this PROPOSE
ton by said city of Lancaster. At such time
as said railway company shall have earned
said bonds and become entitled to absolute
dellYery thereof. and upon their delivery
to the said railway company the said CITY
of Lancaster shall lawfully pass an Ordi-
nance or resolution directing that there
shall be annually levied tax upon the tax
able property of said city, in addition 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
maintain atn
an electric railway of standard, ordinary
gauge, for public use for the conveyance of
persons and property, with overhead trans
mission lines for its power and with its
central power plant located in said CITY of
Lancaster, such construction, maintenance
and operation to be in several sections which
shall ultimately connect and cover the route
aforesaid. The first section shall commence
at said city of Lancast, and extend thence
in q southweSterly direction to the west line
of Section eighteen 08) township four t4)
North. Range four ~ West of the 4th d. m
in the town of BeetOwn in said Grant county,
Wisconsin. The 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 west line of said Section eighteen G80
Town of BeetOwn, by o. before the first daY
of June, 1915. and as soon as said section Of
railway is so completed and in operation the
said railway company shall be entitled to all
OF said bonds and to receive the same from
the trustee hereinafter named uDOn che con-
ditiOnS hereinafter mentioned.
TRIRD: In consideration of the execution
and delivery of said bonds said railway COM
pany shall issue and deliver to said city of
Lancaster five hundred (5O0l shares of the
capital stock of said railway company of the
par value of one hundred Q0O dollars each,
beng a sum in all equal. at the par value of
SAID stock, to the principal sum of said
bonds; which stock shall be deliv-
cred to the trustee hereinafter. named,
for the use of said city. at the same
times and in like amounts as deliveries shall
be made of aid bonds to said railway COM
pany, it's successors or assigns The said
n6 Oh - II no It'd
in escrow with The Union state bank of said
city OF Lancaster. as trustee. within thirty
(3O) days alter demand therefor by said rail
way company. Its successors or assigns; and
whenever said railway company. its sue
cessOrs or assigns, shall have earned or be
come entitled to said bonds, said trustee
shall deliver them to said railway COMPANY
its successors or assigns. forthwith uDon
being rendered certificates for an equal
amount of the capital stock of said railway
company.
FOURTH: The fact of construction. com
pletiOn and operation of said section of rail
way may he proved by resolution Of the com
mon council of said city. or in sIch other
manner as may be agreed upon by said
council and said railway company.
IN WITNESS WHEREOF. the said The
CHICAGO SHORT LINE RAILWAY COMPANY
has caused this proposition to be executed
corporate seal. this 18th Gay of July. 1912
THE CHICAGO SHORT LINE
- RAILWAY COMPANY
Corpor- By JOSEPH L. BENNETT,
ate President.
Seal FRANK G. MEYER.
- Secretary.
The legal voters of said city are further
notified to deposit a ballot az said special
election upon which is written or printed
the words: For the railroad proposition"
or the words: Against the railroad pro
position" Those favOring the acceptance
of said proposition by said city to cast bal
lot containing the words, For the railroad
proposition" and those opposed to the ac-
ceptance of said proposition by the said city
to cast ballot containing the words,
Against the railroad proposition"
The voting places for said election shall
office; Second Ward-City Treasurer's office:
Third Ward-City Hall. west side; Fourth
Ward-City Hall. upstairs, south side. The
time of opening the polls shall be at nine (9)
o'clock A Nj. and closing FIVE thirty $3.50
O'Clock z. M JOHN M. STONE.
City Clerk