SEC. 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That the Springfield and Alton turnpike road company be, and they are hereby authorized to take and appropriate the work and materials on so much of the western division of the Alton and Mount Carmel railroad, as extends from the public landing in the city of Alton, to the juncture of said railroad with the Alton and Shelbyville railroad, together with all the timber and other materials that have been furnished and not used for the first mentioned railroad, and so much of the work done and materials furnished upon the Alton and Shelbyville railroad as extends from the juncture aforesaid, towards its contemplated intersection with the Central railroad, and to continue along the line of said railroad towards the Central railroad so far as they may deem proper, and also to connect the turnpike or railroad contemplated in the charter of said turnpike road company, with the Northern Cross railroad at Berlin in Sangamon county; or at such other point on said Cross railroad between Berlin and Springfield as may be most beneficial for the interest of said company, and for the public, and to use so much of the said Cross railroad between Jacksonville and Springfield as they shall deem necessary in common with the State, or any company to whom the same may be granted; and said Springfield and Alton turnpike road company shall pay to the State or company a proportionate amount for the necessary repairs of the road, and such further sum for the use of so much of said Cross railroad as shall be used as may be agreed upon by the parties; or in case of disagreement, such further sum as shall be decreed by the judge of the circuit court of Sangamon county sitting as chancellor: Provided, always, That the State or companies to whom the same may be granted, shall have the free and full use and enjoyment of the aforesaid State works without cost or charge, in common with the said Springfield and Alton turnpike road company: Provided further, That the said Springfield and Alton turnpike road company, shall enter into bond with sufficient security to the Governor, conditioned for the faithful application of thePage 251 materials aforesaid, and for the efficient commencement of their said road within two years, and for the final completion of the same within ten years from the passage of this act.
SEC. 2. The said Springfield and Alton turnpike road company are hereby further authorized to use so much of the railroad iron now owned by the State, as will be sufficient to lay down a single or double railroad track, from the end or diverging point of the State works on the Alton and Shelbyville railroad, to the point of intersection with the Northern Cross railroad contemplated in this act, for which iron so to be used, the said company shall pay a fair value, to be determined by the company, and the proper agent of the State, which sum or value so agreed upon shall be paid by said company to the State, when it is required to pay its bonds given for said iron; the interest on the amount of iron so purchased is to be paid at such time and times as the interest is required to be paid on the bonds given as aforesaid, and the rate of interest to be the same; the final payment for said iron to be secured by pledging to the State the railroad to be constructed by the company, and by giving additional security to the satisfaction of the State.
SEC. 3. The Governor upon the filing a bond in the amount sufficient to cover all damages which may be sustained by the State, shall authorize the said Springfield and Alton turnpike road company to have and take the work and materials aforesaid, and use the same as hereby directed.
SEC. 4. That the proviso in the ninth section of the act to which this is an amendment, be, and the same is hereby repealed.
SEC. 5. That at any time after fifteen years from the completion of said Springfield and Alton turnpike road, or a railroad in lieu thereof as authorized by the charter of said company, the State shall have the privilege of purchasing said road by paying to said company the original cost of said road exclusive of the value of the work and materials obtained from the State, as herein before provided, together with such a sum by way of interest, as may, when added to the profits, the company may have received from said road equal in annual interest of six per centum on said original cost, in case said profits shall have fallen short of such annual rate of interest.
SEC. 6. That Thomas G. Hawley, Benjamin K. Hart, Jonathan T. Hudson, Jeremiah A. Townsend, John W. Buffum, S. M. Tinsley, S.B. Opdycke, F.A. Olds and Cyrus Edwards shall be commissioners in connection with the present directors of said Springfield and Alton turnpike road company, the duty of whom, or a majority of whom, shall be to open the books in the city of SpringfieldPage 252 and Alton, or wheresoever they may deem proper after giving such notice as is required by the original charter of said company; to receive subscriptions for a sufficient amount of stock in said company over and above the present capital stock, as will enable said company, without delay, to proceed to complete said road; and the said commissioners are further authorized to receive subscriptions for so much of the original capital stock of said company as has been previously subscribed for, and on which no part of the subscription money or any instalments have been bona fide paid.
SEC. 7. That all acts and parts of acts inconsistent with the provisions of this act, be, and the same are hereby repealed.
SEC. 8. This act to take effect from and after its passage.
Approved, February 27, 1841.