Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1914-06-10
PROPOSITION
Signed:

County, Wisconsin,:
r., The CHICAGO SHORT LINE RAIL
WAY COMPANY, a corporation duly in
corporated under the laws of the State
OF Wisconsin, for the purpose of con-
Structlng, maintaining and operating a
standard, ordinary guage electric rail-
way, with overhead transmission lines
for its power, with it's central power
plant to be located in the city of Lam
caster, in said Grant County, Wiscon-
SIM for the public use in the transporta-
ton of persons and property within
the counties of Grant and Lafayette
IN the State of Wisconsin, and within
the State of Illionis, over the following
route, to-wit:
From and to the City of Lancaster,
Grant County. Wisconsin, extending
through the townships of South Lam
caster, Beetown, Glen Haven, Bloom
ington, Patch Grove, Mount Hope,
Mount Ida, Fennimore, Liberty, North
Lancaster, Ellenboro and Lima, and
touching the city of Lancaster and the
villages of North Andover, Blooming
ton, Patch Grove Mount Hope Mount
Ida, Fennimore, and Sitter in
said county, or as near thereto as may
be practicable, said line passing
through the township of Platteville and
the city of Platteyille in Grant County,
traversing the county of Lafayette
through the townships of Elk Grove,
Monticello. New Diggings and Benton,
and reaching the cities of OAR
lington and Shullsburg and the vii
lage of Benton, by proper extensions or
pranch lines, thence in southeasterly
direction through the state of Illinois
to the city of Chicago, the terminus of
said railway
desiring aid, and being DESTROYS
that said town of North Lancaster
make a subscription to it's capital stock
pursuant to the statutes in such case
made and provided, to be paid in mu-
nIcipaI bonds to be issued by said town
OF North Lancaster, hereby makes the
following proposition to said town of
North Lancaster, pursuant to Section
945 OF the Wisconsin Statutes of 1898
and the several acts amendatory there
OF and supplementary thereto:
First: That said town of North Ian
caster subscribe for one hundred eighty
(lSO) shares of the capital stock of
said railway company of the par value
of Eighteen Thousand dollars (S1S,OOO,-
.0O, in the manner and at the time
provided by the statute under this
agreement; such subscription to be
payable in seventeen G7) interest
bearing coupon bonds, sixteen of such
bonds to be of the denomination and
face value of One thousand dollars
(S1,OOO0O) and the remaining one bond
value Of Two thousand dollars
(S2,OOO.OO), making in all the amount
OF eighteen thousand dollars ($1S,-
100000, at par value, numbered con-
CD both inclusive, not payable before
maturity at the option of said town,
to be issued by said town of North
Lancaster, made payable to said rail-
way company or bearer, and to mature
as follows:
Number one ~, for 100000, to be
payable on June 1st, 1916.
Number two ca. for. S1.00O.0O to be
payable on June 1st, 1917
Number three (3), for 100000, to be
payable on June 1st, 1918.
Number four ca, for 100000 to be
payable on June 1st. 1919.
Number five (5) for 100000, to be
payable on June LIST, 1920.
Number six co, for 100000, to be
payable on June 1st, 1921.
Number seven 90, for 81 100000 to be
payable on June LIST, 1922.
Number eight (8), for 100000, to be
payable on June 1St, 1928.
Number nine 90, for 100000, to be
payable on June 1st, 1924.
Number ten QO), for 100000 to be
payable on June 1st, 1925.
Number eleven 11), for 100000, to
be payable on June 1st, 1926.
Number twelve (12), for 100000, to
be payable on June 1st, 1927.
Number thirteen (13), for 100000, to
be payable on June 1st, 1928.
Number fourteen (14), for 81 900. 90,
to be payable on June 1st, 1929.
Number fifteen (15), for 100000, to
be payable on June 1st, 1880.
NUMBER sixteen (16), for 100000 to
be payable on June 1st, 1881,
Number seventeen cd, for $4,000 co.
to be payable on June 1st, 1882.
Each of said bonds to draw interest
at the rate of four and one-half per
centum (4R %o), per annum, payable an
nualIy on the first day of June in
each and every year from date of issue
until paid. subject however, to the
provisions hereinafter contained All
installments of interest on said bonds
to be evidenced by proper interest
coupons, to be executed by the proper
officers of said town of North Ian
caster and made payable to said rail-
way company or bearer, and attached
to each of said bonds respectively. All
interest not paid when due to draw in
tereSt at the same rate as the prin-
cipal sum until paid Both the princi-
pal 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 company
shall become entitled to an absolute
delivery of said bonds, to-wit, under
the terms Of this proposition,
shall be credited and Endorsed
on said interest coupons at the time of
company; the said railway company
to be entitled to the interest only from
the time it becomes entitled to the
bonds. All said bonds shall be negOti-
able and their issue shall in all re-
spectS comply with the statutes of this
state authorizing them. All said bonds
shall be issued within thirty 600 days
after the acceptance of this PROPOSE
ton by said Town of North Lancaster.
shall have earned said bonds and be-
come entitled to an absolute delivery