Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1914-05-20

payable on June 1st, 1917.
Number three 90, for 100000, to be
payable on June LIST. 1918.
Number four "a, for 100000 to be
| payable on June 1st. 1919.
| Number five CD for 100000, to be
payable on June 1st, 1920.
| Number six CO., for 100000, to be
| payable on June 1st, 1921.
Number seven Cd, for 100000, to be
| payable on June 1St, 1922.
Number eight (8), for 100000, to be
| payable on June 1st, 1928.
Number nine co., for 100000, to be
payable on June 1st, 1924.
| Number ten (10), for 100000 to be
payable on June 1st, 1925.
! Number eleven CID, for 100000, to
| be payable on June 1st, 1926.
| Number twelve (12), for 100000, to
be payable on June LIST, 1927.
Number thirteen (13), for 100000, to
be payable on June 1st, 1928.
Number fourteen C4), for 100000,
| to be payable on June 1st, 1929.
Number fifteen Q5), for 100000, to
be payable on June LIST, 1880.
Number sixteen (16), for 100000 to
| be payable on June tst, 1881,
Number seventeen CID, for 100000,
| to be payable on June 1st, 1892.
Each of said bonds to draw interest
at the rate of four and one-half per
centum (4h 70, per annum, payable an
| 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
i 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-
| clpal sum until paid. Both the princi-
pal and interest of said bonds shall be
4 n W q a hn Snn% Ma d. T.
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
the terms of this proposition,
shall be credited and Endorsed
on said interest coupons at the time of
delivery of said bonds to said railway
| 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 ali re-
| SpectS comply with the statutes of this
state authorizing them. All said bonds
shall be issued within thirty 500 days
| after the acceptance of this PROPOSE
ton by said Town of North Lancaster.
At such time as said railway company
shall have earned said bonds and be-
come entitled to an absolute delivery
| thereof; and upon their delivery to said
railway company, the said town of
| ordinance or resolution directing that
! there shall be annually levied tax
| upon the taxable property of said town,
| in addition to all other taxes, efficient
| 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 rail-
way company is to construct, maintain
and operate an electric railway of stand
ard ordinary gauge for the public use for
the conveyance of persons and property
with overhead transmission lines for
/ it's power and with it's central power
plant located in the city of Lancaster,
Grant County, Wisconsin, such con-
Struction, maintainence and operation
to be in several sections which shall
ultimately connect and cover the route
aforesaid One of such sections shall
commence at the city of Lancaster, in
said county, and extend thence in an
easterly direction to the north and
south line dividing the counties of
| Grant and Lafayette in the state of
| 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 north and south
| line dividing the counties of Grant and
| Lafayette, in said state, by or before
the first day of June, 1915, and as soon
| as said section of railway is so COM
| pleted and in operation the said rail-
| way company shall be entitled to all
| of said bonds and to receive the same
| from the trustee hereinafter named
| upon the conditions hereinafter men
| toned.
| Third: In consideration of the ex-
ecution and delivery of said bonds said
railway company shall issue and de-
liver to said town of North Lancaster,
One hundred eighty (18O) shares of the
capital stock of said railway company,
of the par value of One hundred Dollars
| ($1OO.OO) each, being sum in all equal,
Iof he va1r Il - Il.
principal sum of said bonds; which
stock shall be delivered to the trustee
hereinafter named, for the use of said
town, at the same time and in like
amount as delivery shall be made of
said bonds to said railway company,
its successors or assigns. The said stock
and bonds so issued shall be deposited
in escrow with The Union State Bank
Of Lancaster, Wisconsin, as trustee
within thirty 900 days after demand
therefor by said railway company, it's
successors or assigns; and whenever
said railway company, it's successors or
assigns shall have earned or become
entitled to said bonds, said trustee
shall deliver them to said railway COM
pany, its successors or assigns, forth
with, upon being rendered certificates
for an equal amount of the capital
stock of said railway company.
Fourth: The fact of construction,
completion and operation of said
by resolution of the town board of said
town of North Lancaster, or in such
other manner as may be agreed upon
by said town board and said railway
| company.
IN WITNESS WHEREOF, the said
THE CHICAGO SHORT LINE RAIL
| WAY COMPANY has caused this pro-
position to be executed by it's president
and secretary, and under it's corporate
seal, this 9th day of January, 1914.
THE CHICAGO SHORT LINE RAIL-
| WAY COMPANY,
BY JOSEPH T. BENNETT,
| President
and F. P. BARNETT,
| ofov