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other matters relating thereto,' approved March 22, 1865,” approved March 9, 1866, and an Act entitled “An Act to amend an Act entitled 'An Act to amend an Act entitled an Act to provide for the Incorporation of Railroad Companies and the Management of the Affairs thereof, and other matters relating thereto,' approved March 22, 1865,' approved March 9, 1866," approved February 16, 1869, are hereby repealed.

CHAP. XXII.-An Act to provide for the Safe Keeping of the

Securities of the State School Fund.

[Approved February 21, 1871.]

The People of the State of Nevada, represented in Senate and Assem

bly, do enact as follows:

Treasurer to be custodian of

Board of
Education

pass over

coupons.

SECTION 1. From and after the passage of this Act, the State

Treasurer shall be the legal custodian of all State and National securities. securities in which the moneys of the State (irreducible) School

Fund of the State of Nevada, are or may hereafter be invested, and for their safe keeping he shall be liable on his official bond.

SEC. 2. The State Board of Education shall immediately pass

over to the State Treasurer, all moneys and securities now in required to

their custody, taking from him duplicate receipts therefor; one of securities, which they shall file with the Controller of State, who shall there

upon charge the same to the State Treasurer. Payment of Sec. 3. When due (after procuring the Controller's warrant

for the amount thereof,) the State Treasurer shall, in the presence of the State Board of Education, or a majority of the same, cut off and pay the coupon on such State securities as may be in said fund, and place the moneys so paid in the general (distributing) School Fund of the State, and keep a correct account there

of on his books. Quarterly

Sec. 4. It is hereby made the duty of the State Controller quarterly, to notify the State Board of Education of the amount

of money in the State · School Fund; and whenever there schooi fund. shall be a sum in said fund sufficient for investment, said Investment Board shall direct the State Treasurer to negotiate for invest

ment of the same in United States securities, or in bonds of this State, at the lowest purchasable rates, and the Board shall then draw their order upon the State Controller in favor of the State Treasurer for the amount to be invested. Said Controller shall thereupon draw his warrant as directed, and the State Treasurer shall complete the purchase of the securities negotiated for by him in pursuance of this Act.

notice to Board of amount money in

of fund.

CHAP. XXIII.-An Act to encourage the construction of a Rail

road in the eastern portion of the State of Nevada.

[Approved February 21, 1871.]

The People of the State of Nevada, represented in Senate and Assem

bly, do enact as follows :

granted.

to issue bonds.

SECTION 1. The “Eastern Nevada Railroad Company," a com- Franchise pany heretofore organized and created, and now existing under and by virtue of the laws of the State of Nevada, is hereby given and granted the right, privilege and franchise of building, constructing, maintaining and operating a narrow gauge railroad, with iron rails, between the town of Elko, in the county of Elko, and the city of Hamilton, in the county of White Pine; the gauge whereof shall be of a width not more than forty-two nor less than thirty inches, and the grade thereof shall not exceed one hundred and twenty feet to the mile; and the said company is hereby vested with, and shall have and enjoy all and singular the rights, privileges and franchises conferred upon railroad companies incorporated in this State, by the provisions of an Act entitled “An Act to provide for the incorporation of Railroad Companies and the management of the affairs thereof, and other matters relating thereto," approved March 22, 1865, and the acts amendatory thereof.

Sec. 2. The Board of County Commissioners of the counties Commisof Elko and White Pine, in this State, are hereby authorized, authorized empowered and directed, to prepare and issue the bonds of their respective counties upon the conditions and pursuant to the provisions hereinafter enacted; which said bonds when so issued shall be delivered to the said Eastern Nevada Railroad Company, for its benefit; provided, that no Chinese or Mongolians shall be Proviso. employed in the construction or maintaining of said road, and such employment of Chinese laborers shall work a forfeiture of the franchise, subsidies and all rights hereby granted.

Sec. 3. Whenever the said “ Eastern Nevada Railroad Com- Bonds to be pany” shall present to the Board of County Commissioners of petition of either of said counties, a petition signed by the owners or the taxpayers, agents, or representatives of the owners, of more than two thirds of the taxable property of such county, as appears by the assessment roll thereof, for the year eighteen hundred and seventy, or seventy-one, and by more than two thirds in number of the tax-payers of such county, as shown by said assessment roll, which petition shall state that it is the desire of the signers thereof, that the bonds of said county should be issued to the said “Eastern Nevada Railroad Company,” in an amount to be in said petition named; which amount shall not exceed one tenth of the aggregate value of the taxable property of said county, as shown by said assessment roll, then and thereafter it shall be the duty of the Board of County Commissioners of such county, and such Board is hereby empowered and directed, to prepare and issue bonds of such county, in the amount named in said petition, as hereinafter provided; provided, that the bonds issued by the said Proviso. county of Elko shall not exceed in amount one hundred and fifty

etc.

When

,

When bonds
to be
issued.

thousand dollars, and the bonds issued by the said county of White Pine shall not exceed in amount two hundred thousand

dollars; and, provided further, when the Chairman of the Board Chairman of of Commissioners of either Elko or White Pine counties shall call meet receive the petitions hereinbefore in this Act provided, he shall

forthwith, or within three days thereafter, call a meeting of said Board, at which meeting said petition shall be carefully examined with the county assessment rolls, and if the said Commissioners shall be satisfied that the names signed to such petition are genuine, and actually represent two thirds of the taxable property of the county, and two thirds of the number of tax-payers of said

county, they, the said Commissioners, shall, and it shall be their Ordinance. duty to issue, and publish an ordinance, which shall recite such

facts, and shall assert and guarantee, that in conformity with the provisions of this Act, the amount of bonds named in said petition will be issued, subject to the conditions and restrictions provided by this Act.

Sec. 4. Whenever the said “Eastern Nevada Railroad Company” shall have graded, laid the ties and a good quality of iron rails, known as T or H rails, or other rails of equal utility, completed and prepared ready for reception of the rolling stock, ten miles of said road, upon the line of said railroad, from the said town of Elko to the said city of Hamilton, and such fact shall appear to the said Board of County Commissioners, by the affidavit of the engineer of the said railroad company and by the personal examination of said Commissioners, and the petition mentioned in section three of this Act shall have been presented to the Board of County Commissioners of such county, then the said Board of County Commissioners shall prepare and issue and deliver to the said company, bonds of said county, in an amount which shall bear the same proportion to the whole amount of bonds to be issued as specified in said petition, as the said ten miles of railroad bears to the whole length of road proposed to be constructed in said county, as shown by the survey thereof; and thereafter upon the completion of the said road ready for the rolling stock, as hereinbefore provided, in such county, of each succeeding and continuous ten miles of the said road, a like amount of the said bonds shall be prepared, issued and delivered, until upon the completion of the last section of ten miles, or less, in said county, when, and at which time, the whole amount of the said bonds remaining unissued shall be issued and delivered to said company; provided, that no bonds for the county of Elko shall be issued to said railroad company, except upon completed sections of ten miles of said road, as hereinbefore provided; which grading shall commence at the town of Elko and continue successively until the boundary of White Pine County shall be reached, and thereafter upon completed sections, as hereinbefore provided, the bonds of said county of White Pine shall be issued; and, provided further, that the whole distance for which bonds have been issued shall, at the time of each subsequent application for the issuance of bonds, be completed ready for the rolling stock, as herein before provided.

SEC. 5. The said bonds shall be of such amount as shall be deemed most salable and convenient; but no bonds shall be of less amount than one hundred dollars, and none for a greater

Proviso.

Proviso.

Amount of bonds.

prepared.

eic.

amount than one thousand dollars. Said bonds shall be printed Coupons. with interest coupons attached thereto; shall express on the face of both bonds and coupons that they are payable in United States gold coin; shall bear interest at the rate of seven (7) per cent. per annum, payable semi-annually. The bonds shall be payable to when and bearer at the office of the County Treasurer of said county in how pay;

able, and twenty years from their date. The bonds shall be prepared in proper form under the directions of the Board, and shall be signed by the President or Chairman of the Board and County Treasurer, and countersigned by the clerk, who shall attach thereto the county seal. The coupons for semi-annual interest, consecutively numbered, shall be signed by the Treasurer of the county.

SEC. 6. Immediately after being notified by the company of when to be the fulfilment of the conditions

upon
which

delivered, set of said bonds

any are to issue, as above stated, the Board of County Commissioners shall proceed to satisfy themselves, by personal inspection of the fact, of the performance of said conditions; and on being so satisfied shall, without delay, prepare, issue and deliver the bonds as above directed.

Sec. 7. From and after the issuance of said bonds, or any set Special thereof, the Board of County Commissioners of the county shall taxita.be annually, at the same time, and in the same manner as other county taxes are levied, levy a special county tax sufficient in amount to pay the semi-annual interest upon said bonds, and after the fifth year from their issuance, an amount sufficient to pay

in addition to the interest one fifteenth part of the principal of the whole amount of said bonds.

Sec. 8. The proceeds of said tax shall be placed by the Proceeds of County Treasurer of each of said counties in a separate fund, to applied. be known as “ The Railroad Interest and Sinking Fund,” and shall be applied exclusively, first, to the payment of the interest on said bonds as the same shall become due; and second, to the redemption of said bonds in the manner specified in the next section.

Sec. 9. Whenever after the fifth year from the issuance of Surplus in said bonds, all interest due upon said bonds shall have been fully advertisepaid, and there shall be in said fund a surplus of five thousand ment to be dollars, or upwards, which, upon a fair estimate of the receipts purchase of which will probably come into the same, will not be needed for the payment of the future interest to accrue within the next succeeding twelve months, the Board of Commissioners, after having ascertained the amount of said surplus, shall insert an advertisement in at least one newspaper published or circulated in such county, for the period of not less than two weeks, stating the amount of money on hand to be applied to the purchase of said . bonds, and inviting sealed proposals to surrender the same, to be Proposals made and filed with the clerk of said Board, on or before a day render of certain therein named. At the next meeting after said day, the bonds. Board shall open such sealed proposals as shall have been filed on or before the day fixed in the advertisement, and to the extent of the amount named shall purchase the bonds so offered, giving the preference in all cases to the bidder who shall offer to surrender said bonds at the lowest price; provided, that no offer shall be accepted for more than the par value of said bonds.

tax, how

bonds.

Privileges, how secured.

Sec. 10. The said “Eastern Nevada Railroad Company" shall, in order to secure the privileges herein specified, within six months after the approval of this Act, complete a locating survey of said route, and commence the grading of their road, and shall within two years after the completion of said survey, complete, finish and equip the entire road between said points, viz. : From Elko, in Elko county, to Hamilton, in White Pine county.

Sec. 11. The faith of the State of Nevada is hereby pledged that this Act shall not be repealed, or so modified as in any way to impair the security of those who shall hold or purchase any of the bonds herein provided for.

CHAP. XXIV.-An Act relating to Accounts against the State.

[Approved February 23, 1871.]

Duplicate claims to be filed with Board of

The People of the State of Nevada, represented in Senate and Assem

bly, do enact as follows: SECTION 1. The State Printer, and all other persons having

claims against the State, shall file with the State Board of ExamiExaminers. ners an itemized duplicate of their accounts.

Sec. 2. Chapter fifty-eight of the laws of Nevada, approved February twenty-seventh, one thousand eight hundred and sixtysix, entitled “An Act relating to accounts against the State,' and all other Acts, or parts of Acts, in conflict with this Act, are hereby repealed.

Acts repealed.

CHAP. XXV.-An Act to consolidate and fund the Indebtedness

of Elko County.

[Approved February 23, 1871.]

The People of the State of Nevada, represented in Senate and Assem

bly, do enact as follows:

Funding
Commis-
Bioners.

SECTION 1. In order to consolidate and fund the entire indebtedness of the county of Elko, for which warrants have been issued, and place all of its financial transactions upon a cash basis, the chairman of the Board of County Commissioners, the Auditor and County Treasurer of said county, and their successors in office shall constitute and are hereby created a Board of Commissioners, to be known and styled as the Funding Commissioners of the county of Elko, of the State of Nevada, and shall have and exercise the powers hereinafter provided.

Sec. 2. It shall be the duty of said Funding Commissioners to cause to be prepared bonds equal to the present county indebtedness, together with all the indebtedness that shall have accrued

Bonds to be prepared.

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