Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1915-05-19

! Number eleven I'D for s.. 900 to be payable
| on June 1St. 1928.
Number twelve Q2) for 50 coo to be payable
| on June 1Su, 1929.
| Number thirteen Q3) for $1,000 TO be paw
| able on june 1t. 1890
| Number fourteen (l4) for 81 900 to be pay
able on June 1st, 1881.
Number fifteen G5j for $1,000 to be pay
| able on June LIST, 1892.
| Number sixteen 90 for 1900 to be pay
able on June lSt, 1888
| Number seventeen % for $1,000 to be pay
able on June 1St, 1894
Each of said bonds to draw interest a the
rate of four and one half (4la) per centum
per annum, payable annually on the nrSt
day of June in each and every year from
date of issue until fully paid. All install
mentS OF interest on said bonds To be evil
denCed by proper interest coupons, 20 be
executed by the proper officers or said town
OF BeetoWn and made payable to said railway
company or bearer. and attached to eacn
of said bonds respectively. All interest not
paid when due TO draw interest at the same
rate as the principal sum until paid. Both
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 be-
come 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 de-
livery 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 negotiable and their issue shall in all re-
SpeCtS comply with the Statutes of this
state authorizing them. All SAID bonds snail
be issued within thirty go days after the
acceptance of this proposition by the said
town of Beetown. At such time as said
railway company shall have earned said
bonds and become entitled 10 an absolute
delivery thereof. and upon their delivery to
said railway company, the said town of
BeetoWn shall lawfully pass an ordinance
or resolution directing that there shall be
annually levied a tax upon the taxable
property of said town, in addition to all
other taxes, sufhcten 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
company is to construct. maintain and
operate an Electric Railway OF standard
ordinary guage, for the public use for the
conveyance of persons and property, with
overhead transmission lines for its power
and with its central power plant located in
the city of Lancaster. Grant County, Wis
conSin. such construction, maintenance
and operation to be in several sections
which shall ultimately connect aud cover
the route aforesaid. One of such sections
shall commence at the west line OF section
Eighteen (l8) Township Four (D North
Range Four (D West of the Fourth prln-
cipal meridian. in said town of Beetown,
Grant County, wisconsin, extending thence
in general nOrth-weSterly direction, over
and along its route as now surveyed, TO q
point within the Incorporated Village OF
bloomington, in said Grant County, Wlscon-
sin. The said railway company snail nave
the said section completed and In operation
by the passage of cars thereoVer cOntln-
uouSly from said West line of Section
Bighteen S T%9w Owns -Four FoG q N4Tfn
cipal meridian, in said town OF Beetown TO
point within the incorporated Village OF
Bloomington, in said Grant County, WlScoD-
sim by or before the First day of June 1917,
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
from
Trustee hereinafter named upon the con-
ditionS hereinafter mentioned
THIRD: In consideration OF the eXeCu-
ton and delivery of said bohdS said railway
company shall issue and deliver to said
town of Beetown three hundred thirty (33O)
shares OF the capital stock OF SAID railway
company, of the par value of one hundred
400 dollars each, being a sum in all equal,
at the par value OF said stock to the prln-
cipal sum of said bonds: which stock snail
be delivered to the Trustee hereinafter
named, for the use of said town. at the same
be made of said bonds to said railway COM
pany. 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 i30) days after demand therefor by
said railway company, is successors or
assigns: and whenever said railway COM
pany. its successors Or assigns shall have
earned or become entitled 10 said ponds,
said Trustee shall deliver them TO said
railway company, its successors or assigns,
forthwith. upon being rendered certificates
for an equal amount of the capital stock of
said railway company.
FOURTH: Tine fact Of construction, COM
pletiOn and operation Of said section OF
railway NAV be proved by resolution or the
town board of said town OF Beetown; or IN
such other manner as may be agreed upon
by said town board and said railway com
pany.
IN WITNESS WHEREOF. the said THE
WISCONSIN AND ILLINOIS RAILWAY COMPA~Y
has caused this proposition to be executed
by it's President and Secretary, and under
it's corporate seal this 9th day Of May,
A. ID. 1915.
THE WISCONSIN AND ILLINOIS RAIL
WAY COMPANY
TSEAL1 BY JOSEPH Y. BENNETT, President
and F. p BARNETT. Secretary