Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1915-05-26
PAGE NINE

| tensions or branch lines thence in a south
| easterlv direction through the State of TIli-
nOis to the city of Chicago. the terminus
! of said railway. desiring aid. and being
| DESTROYS that said town of BeetOwn make
a subscription TO its capital stock. pur-
| Suant TO the statutes in such case made
| and provided. to be paid in municipal bonds
/ TO be issued by said town of BeetOwn, here
by makes the following proposition to said
| town of BeetOwn pursuant to Section 945 OF
| the Wisconsin Statutes of 1898 and the
| several acts amendatOry thereof and sup
Elementary thereto:
First: That said town Of Beetown sub
| scribe tor Three Hundred Thirty (3s0) shares
| OF the capital stock of said railway company
i OF the par value OF Thirty Three Thousand
| (S33OOO) Dollars in the manner and at the
| time provided and authorized by statute
| unoer this agreement: such subscription
| to be payable in seventeen IN interest
/ bearing COu non bonds. sixteen 40 of such
bonds to be of the denOminat alton and face
value of two thousand (2OO0) dollars. and
one of said bonds to be of the denomination
/ or face value o. One Thousand C,000) Dol
| lars, making in all the amount of thirty
/ three thousand (33O00) dollars at par value
| numbered cOnSecutively from one Cd to
| seventeen Q0 both inclusive. not payable
| before maturity al the option of said town.
] to be issued by said town of BeetOwn. made
| payable to saiu railway company or bearer,
/ and to mature as follows:
| Number one a. for $1,000 to be payable
on June 1St 1918.
Number two (2y for $4,000 to be payable
| on June 1St 1919
Number three C3) for $1,000 to be payable
on June 1St. 1920.
Number four (4) for $1,000 to be payable
on June ,lSt 1921.
Number five (5) for 81 900 to be payable
on June 1St, 1922
Number six Co for 5000 to be payable
on June lSt 1923.
Number seven 81 for g., 900 to be payable
on June 1St 1924
Number eight (S) for $4,000 to be payable
on June 1St 1925.
Number nine 90 for $1,000 to be payable
on June LIST. 1926.
Number ten QO) for $1,000 to be payable
on June 1st, 1927.
Number eleven Q1) for 50, 600 to be payable
on June 1St. 1923.
Number twelve Q2) for 50, 600 to be payable
on June 1St, 1929.
Number thirteen Q3) for $4,000 to be pay
able on June 1St. 1890
Number fourteen U4) for 50, 600 to be pay
able on June 1St. 1881.
Number fifteen Q5) for $1,000 to be pay
Number sixteen de- for $1,000 to be pay
able on June 1St 1888
Number seventeen % for s., 600 to be pay
able on June 1St, 1894.
Each of said bonds to draw interest at the
rate of four and one half (41al per centum
per annum, payable annually on the first
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, to be
executed by the proper omcerS OF SAID town
OF BeetOwn and made payable to SAID railway
company or bearer. and attached to each
of said bonds respectively. All interest not
paid when due to dra g 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 company shall be-
come entitled to an absolute delivery or
said bonds. tO-wit, under the terms or 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 1t becomes
entitled to the bonds. All said bonds shall
De negotiable and thelr issue sRan III an re- re-
spects comply with the Statutes OF this
State authorizing them. All said bonds SnalI
be issued within thirty 800 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 to an absolute
delivery thereof. and upon their deIlVefy 10
said railway company, the said town or
Beetown shall lawfully pass an ordnance
or resolution directing that there shall be
annually levied tax upon the taxable
property of said town. in addition to all
other taxes. sufficient TO pay, when due, the
interest to grow due on said bonds, and also
to paw and discharge the principal thereof,
as and by the time the same shall become
due.
company is to construct MAINTAIN ana
operate an Electric Railway Of standard
ordinary guage, for the public use Tor the
conveyance of persons and property, WIN
overhead transmission lines for its power
and with it's central power plant located IN
the city of Lancaster. Grant County WIS
cOnSin, such construction, maintenance
and operation to be i'll several S6ctlons
which shall ultimately connect aud cover
the route aforesaid. One OF SuCn SecLlohs
snail commence at the west line of Section
Eighteen (1S) Township Four (4 NOrth
Range Four (Q West of the Fourth prln-
Cipal meridian. in said town OF beeIoWH'
Grant County, wisconsin, extending InenCe
in a general north-weSterly direction, over
and along its route as now SurVeye9, 10 q
point within the incorporated village OF
bloomington, in said Grant County, WlSCon-
| sin. The said railway company shall nave
the said section completed and IL oper
i by the passage of cars thereoVer ConIln-
uouSly from said West line or SeCIlon
Eighteen QS). Township Four ~ NORTH
Range Four "a West of the FOurtn prln-
cipal meridian in said town OF BeetoWn 70
| a point within the Incorporated Vluage OF
| Bloomington, in said Grant County, WlSC i0I1
SIM by or before the First day OF June 1911,
| and as soon as said section OF railway Is SO
/ completed and in operation the Sald Iailwag
| company shall be entitled TO ali OF S t1
/ bonds and 90 receive the same IIoln ene
| Trustee hereinafter named upon the con-
ditions hereinafter mentioned. .fz.ys
| THIRD: In consideration of the eXecu1
| ton and delivery of said bonds said railway
| company shall issue and deliver 10 said
| town of Beetown three hundred thirty (35O)
shares of the capital stock OF SAID falI IFgS
| company. of the par value OF one hundFe0
| QO0) dollars each. being sum IN ali equdl'
at the par value OF said stock to the prln-
/ cipal sum Of said bonds: which stock SnalI
] be delivered to the Trustee hereinafter
| named, for the use OF said town. at the same
/ times and in like amounts as deliveries SndlI
I
pany, it's 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, WllnIIn
thirty (3O) days after demand therefor by
| said railway company, its successors OF
assigns; and whenever said railway COM
pany, its successors or assigns shall nave
| earned or become entitled to said OondS;
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: The fact of construction. COM
pletiOn and operation of said section of
railway NAV be proved by resolution of 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 COMPANY
| by it's President and Secretary. and under
| its corporate seal. this 9th day Of May
A. D. 1915.
THE WISCONSIN AND ILLINOIS RAIL