Lease or Sale. TITLE XI. MACON AND BRUNSWICK RAILROAD. ACTS. Lease or sale of Macon and Brunswick Railroad. Act of 1879 as to sale of the M. & B. R. R. amended. Lessees of M. & B. R. R. to be agents of State. Suits, how and where brought, against the M. & B. R. R. LEASE OR SALE OF MACON AND BRUNSWICK RAILROAD. No. 95. An Act to authorize the lease or sale of the Macon and Brunswick Railroad, and to confer certain chartered powers and privileges upon the lessees of said road, to build extensions of the same from Macon to Atlanta, from Brunswick to Florida line, and from Hawkinsville or Eastman to Americus, and to appoint commissioners to run the same, and to prescribe their powers and duties, and for other purposes. thorized for Payments SECTION I. Be it enacted by the General Assembly of the State of Lease an Georgia, That the Governor of the State be, and he is hereby, twenty authorized, to lease the Macon and Brunswick Railroad, which is years. the property of the State, with all its houses, work-shops, depots, rolling stock, grounds, lands, and appurtenances of every character, to a company, to be formed, for a term of twenty years, for a sum of not less than $60,000, per annum, of which sum, for the first how made. year, $10,000 shall be paid on the day of the lease, and the balance, for said first year, shall be paid within thirty days, or before the time that the railroad, with its appurtenances as before stated, is transferred to the lessee, and, thereafter, one-twelfth of the annual rent shall be paid monthly, in advance, and within five days after the beginning of each month, into the Treasury; and, Failure to in case said company shall, at any time, fail or refuse to pay the pay forfeits contract. Lease or Sale. Governor take pos force, if necessary. shali institute suit sum due for each month, according to the foregoing terms, the lease session by shall be forfeited, and it shall be the duty of the Governor to declare it so forfeited, and to take immediate possession of said road and all of the appurtenances, and if any resistance is offered by the company, it shall be the duty of the Governor to take possession by force, and. to this end, he may use all the power of the State, both civil and military, and expel the lessees who have failed to make the payments according to the terms herein before stated; Governor (and, within ten days after the Governor has terminated the lease and taken possession of the road for the State, he shall commence on bond of a suit against the lessees on the bond, to be given by them to the State, in any court of the State having competent jurisdiction of the case, unless the sum due is sooner paid); but the faith of the State is hereby pledged to said company, that they shall, in no case, be disturbed by the authority of the State, so long as they keep the contract on their part, and make the payments when due : provided nevertheless, that said company shall, in no case, sub let said road to other persons or corporations, except when allowed by legislative enactment; provided further, that nothing contained in this section shall convey, either by sale or lease, any lots of land on or State in cer- near the line of said railroad in the counties of Pulaski, Dodge and lessees for amount due. Faith of pledged to pany. Lessees! shall not sub-let without legislative sanction. Land of tain coun ties not conveyed. leased at public out. cry. How advertised. Wayne, now owned by the State, except such portions thereof as may be necessary for right-of-way, section houses, depots, or other grounds necessary for the operation of said railroad. SEC. II. Be it further enacted, That said railroad shall be leased Road to be at public outcry in the city of Macon, at the Court house door of Bibb county, within the legal hours of sale. It shall be the duty of the Governor to give forty five days previous notice of the day and place of said lease, with the terms of the same, in at least five newspapers of most general circulation in the State of Georgia, and in at least two other newspapers of general circulation, pubLease to be lished in some of the cities of other States of the United States; and said railroad is to be leased within forty-five days after the adjournment of the present session of the Legislature of the State of Georgia, to the highest bidder for said lease, who complies with the terms of this Act. made with in 45 days after legis. lature au journs its present session. Bond of lessces in $500,000. Lessees shall be worth at SEC. III. Be it further enacted, That it shall be the duty of the Governor of Georgia to require of said company to whom the road the sum of and its workshops, rolling stock and appurtenances may be leased, to give bond, with ample security, in the sum of $500,000. The lessees shall be worth over and above their indebtedness at least least $150,- $150,000, and there shall be security in the State worth at least $100,000, and the balance of security, if out of the State, shall be upon real estate or railroad property. The lease shall be made to Condition s no company who tenders security that is even doubtful. The bond shall bind the lessees and their securities for the prompt payment of the sum agreed on, according to the terms hereinbefore stated, and for the return of the road and its appurtenances, at the expiration 000 above their indebtedness. of boud. Lease or Sale. Bond to be may at any or termination, or forfeiture of the lease, in as good condition as it was when received by the company from the State under said lease, which bond shall be recorded in the Secretary of State's recorded. office, and filed in the Executive office, which may be sued on at any time when there has been a breach of its condition; Provided, Governor that this shall not preclude the Governor from requiring other time resecurity at any time, if the security first given shall become insuf- tional seficient from any cause; and if said lessees refuse to give, within Failure to thirty days after being required, other security, then this shall be give addicause of forfeiture, which shall be enforced as provided for in sec-curity. tion first of this Act. quire addi curety. tional se shall ex in two years lease, $200 provements, SEC. IV. Be it further enacted, That if a lease of said road is ef. Lessees fected under this Act, the said lessees shall be required to expend, pend withwithin two years from date of lease not less than two hundred from date of thousand dollars for permanent improvements in the erection of for pershops, depots, wharves, purchase of machinery, rolling-stock and mancut imimprovement of tract. including a change of line at Macon, and etc. condemnation of land therefor, as provided for by the original charter of said Macon and Brunswick railroad, all of which shall revert to the State, in case said lease is forfeited and should said lease not be forfeited, then at the expiration of the lease, said improvements provements shall be turned over to the State and included in the shall revert inventory made at that time according to the value of said im- in case the provements at the time of the expiration of said lease. The im - be forprovements at Macon shall be upon the State's property, or on land purchased by the lessees in the name of the State. to the State lease should. feited. of property to road, by whom be filed SEC. V. And be it further enacted, That the Governor, so soon Inventory as the lease is executed, shall appoint three railroad men of ex- belonging perience, wholly disinterested in the lease or any competing line how and of railroad, who shall examine the road and its appurtenances made. carefully, and shall make out, in writing, a schedule or inventory Inventory of the same, carefully describing and setting forth the true condi-in Execu tion of the road, its rolling-stock, appurtenances and property of tive office. every character, and value of the same, which shall be recorded in the office of the Secretary of the State, and filed in the Executive office, and in case said property is not returned at the expiration or forfeiture of said lease in as good condition as when Property to received, the company and their securities, on their said bond, shall in as good be liable to make good the difference to the State. Provided, that' forfeiture on the expiration of the lease, the condition of said road and or expiraappurtenances shall be examined by three experienced railroad lease, as men to be appointed jointly by the Governor of the State and the ceived by lessees, who shall likewise value said railroad and appurtenances pany." and under oath make return thereof. be returned order at tion of when re the com their suc cessors be SEC. VI. Be it further enacted, That so soon as the lease shall be Lessees and agreed upon, in accordance with the terms of this Act, the names of the lessees thereof shall be entered on the minutes of the Ex come a body corporate. Directors, and action death. Lease or Sale. ecutive Department, and they and their successors shall become a body corporate and politic for the period of twenty years, under the name and style of the Macon and Brunswick Railroad Company, and as such, shall have all the rights, powers and privileges granted to said road by the laws now in force: Provided, That the State shall at all times have the first and highest lien upon the property of said company, and the State's interest in said road shall at no time be affected by any claim of a third party against said road or lessees, or any lien created by them. SEC. VII. Be it further enacted, That each of said persons composing said company shall be a director of the same and in in case of case of the death of any of said lessees, his legal representative shall act in his place, and represent his interest; and on all questions which come before said board of directors each shall vote and have weight in the decision of the questions which come before said board in proportion to his interest in the company. Director's portion to vote pro his interest. The Board of Directors to elect a President and other pass by and Share-hold er dies, his interest be considered personal property. discrimina tion to be made. No roads, or combinations of either to become lessees. SEC. VIII. Be it further enacted, That the board of directors shall within thirty days after the company is organized, and the lease is executed, elect a president and provide for the filling of such other offices as they may deem necessary for the management of said road, and provide by-laws and rules for the government of said road and its officers not inconsistent with the constitution and laws of the State of Georgia. SEC. IX. Be it further enacted, That in case of the death of any member or shareholder of said company, his interest in the lease shall be considered personal property, and the rights of his heirs or devisees thereto shall not be debarred by any act of the corporators. SEC. X. Be it further enacted, That said lessees of said railroad No unjust shall neither make or permit to be made any unjust discrimination in favor of any other company or parties having or doing business with said road, nor shall any railroad or express company or comcompanies panies within the State of Georgia, or a combination of either, in any event become lessees of said road, directly or indirectly, and should any company owning or running a competing line of railroad within the State of Georgia, or any individual or individuals having an interest in any such company, running to or from the Atlantic coast, at any other point than the city of Brunswick, become at any time so interested in the lease, or the running of said Macon and Brunswick Railroad as to in any way control How lease the freights or passenger tariffs or management, then the lease under this Act shall be forfeited, and the Governor of Georgia shall take possession of the same as provided in section first of this Act. forfeited. Appoint ment of Directors. SEC. XI. Be it further enacted, That in the event said railroad is not leased according to the terms of this Act, then it shall be the duty of the Governor of the State of Georgia, to appoint five Lease or Sale. commissioners or directors for said railroad, who shall take charge of the management of the same, and have it run to the best interest of the State until the further action by the Legislature of Georgia. It shall not be competent for the Governor to appoint any person such commissioner, who is the owner of any stock or bond in any line of railroad in Georgia, competing with the Macon and Brunswick railroad, or who may be directly or indirectly in the employment of such competing line. Provided nevertheless, Duties and Commis That should there be a failure to lease said railroad at the first ad- powers of vertising, then the Governor shall again, at such other times as he sioners. may deem proper, re-advertise under the terms of this Act, and make a second effort to lease said road as herein provided. The term of the lease to be twenty years, less the time which may elapse between the passage of this Act and the date of said lease. Provided further, That the said road shall remain under its present management, as now provided by law, till the same is leased under the first advertisement, or there is a failure to lease under said first advertisement: in which event it shall be the duty of the Governor to at once appoint the five commissioners to operate the road as provided in this Act. The salary of the commissioners to be appointed as above provided for, shall be four hundred dollars each per annum said commissioners shall have full power and authority to make all contracts and agreements usual and necessary in railroad management, and dictated by the condition of said road, its property and business, and shall have the power, with the approval of the Governor of the State, to extend the business of said railroad by chartering or hiring boats to transact business on the Ocmulgee, Oconee and Altamaha rivers, and on the Cumberland route, either to Fernandina or Jacksonville, Florida, provided, That said commissioners shall have no power to bind the corpus or franchises of said railroad by any contract whatever; said commissioners are authorized to expend the profits arising from the business of the road, or so much thereof as may be necessary, in such improvements and betterments as may be necessary for its best interests. Vested with power to operate roads. SEC. XII. Be it further enacted, That the company which may Lessees inorganize as lessees under this Act shall have full power and authority to survey, lay out, construct, equip, use and enjoy a railroad build and from the city of Macon to the city of Atlanta, a railroad from the branch city of Hawkinsville, in the county of Pulaski, or Eastman, in the county of Dodge, to the city of Americus, in the county of Sumter, and a railroad from the city of Brunswick, in the county of Glynn, or from any point on said railroad in the county of Glynn on said railroad, to the Florida line, and shall further have power and authority to connect said roads, or either of them, at each terminus, with the roads of other companies constructed to said. terminus or which may hereafter be constructed to the said termi |