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SECTION 1. The Legislature is authorized to provide for the
guaranty, by the State, of the mortgage bonds, bearing seven per cent. interest,
of the following Railroad lines:
1. From Columbus, via Gonzales to San Antonio, with branches to Seguin and Hallettsville.
2. From Lavaca via Texana to Wharton.
3. From Victoria to San Antonio, and thence via Fredericksburg and Fort Mason, in a northwesterly direction, to the northwest frontier of this State.
4. Railroad line diagonally across the State, from northeast to southwest, being intended as a link in the International Railroad through Mexico to the Pacific.
5. From Victoria to Goliad.
6. From Corpus Christi, to some point east of the Rio Grande, to tap the International Railroad.
7. From Brownsville to Point Isabelle.
8. From San Antonio, via New Braunfels, to the Colorado river, opposite Austin; Provided, that if the International Railroad takes this route, then this line is dispensed with.
SEC. 2. The Railroads contemplated under this ordinance, shall be constructed over the shortest feasible routes, between the termini herein provided for. They shall be constructed and supplied with rolling stock in the completest and best manner, and according to the requirements of the best railroads in the United States.
SEC. 3. The bonds to be guaranteed under this ordinance, shall (except as hereafter provided) be considered as second mortgage bonds on the Railroad lines to be guaranteed, and shall be for the sum of fifteen thousand dollars per mile in lawful currency of the United States. Where the bonds to be guaranteed are second mortgage bonds, the first mortgage bonds on the same lines, shall not exceed the sum of twelve thousand dollars per mile.
SEC. 4. In the event that the United States Government may propose to guarantee the mortgage bonds of the International Railroad, or other lines, or to issue their bonds for the purpose of aiding such line, or lines, then the mortgage bonds to be guaranteed by this State, shall operate as a first mortgage.
SEC. 5. Until the Railroad lines mentioned in the 1st section of this ordinance, are completed and finished, no other Railroads shall receive State aid; and further, no State aid beyond that herein provided for, shall be given by the Legislature, even after said Roads are finished, unless provision be made at the same time for the liquidation of the principal, and interest of the indebtedness thereby to be created, as required in the Constitution of this State.
SEC. 6. The Legislature shall provide all necessary rules and regulations for carrying this ordinance into effect. The Legislature shall provide for such inspection of the roads built, under this ordinance, previous to the guarantee of the bonds, as will secure strict compliance with the requirements of section 2d thereof, and the building of the roads in conformity thereto.
SEC. 7. No bonds shall be guaranteed for any section of less
than twenty-five miles of Railroad, built and equipped, unless the whole length
of the Railroad be built or finished, shall be less than this length.
