Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-02-06

pay able to the President, Directors and
Company authorised TO complete such pub
lie work, and to be recoverable against the
obhgor or his securities, on motion. after 10
days no ice in any court Of record within the
Z IN .oonwealih having Jurisdiction thereof,
& such deed of trust to be proceeded upon,
whenever the trustee therein named, shall
be required TO do SO by such President,
Directors and Company.
XII. Ind be IL further enacted. That the
dividends of the stock which may be sub
scrib d by TIE President and Directors of
the Beard of Public Works shall 60 exciu-
sively to other subscribers than the Com
monwealth, unit such portion of the stock
or those subscr bers . shall have been &C
tually paid in, shall have netted to
them rer cent. per annum, from the soe-
cited time of such payment that a,v in-
crease of profit, after that nett income
shall have been assured to these subs ri
eers, shall belong exclusively to the fund
for Internal Improvement, until the nett
annual income of the whole stock, actually
expended by any Company. shall reach 6
per cent. per annum ; after which the
Commonwealth and the other subscribers
70 the stock of the Company shall divide
the nett profits on such stock in proportion
TO their respective m;erests.-That, when
ever the nett income of any Company to
which any part ct the fund h rely crea ed
shall have b en- subscribed, shall be found
Tor two succeeding years, or upon an AYR
age OF hve sut ceecing years, to surpass fiji
teen per cent. per annun, the General AS
sembly may reduce the tolls from which
such income is derived, so Us to limit the
nett revenue of the Company to that a
mount. Provided that should the tolls, for a
ny two succeeding years, fai! to We'd a nett
income tn the 4 mpany of ten per cent.
| per annum, the President and Directors of
| the Board of Public Works, on s.tisfacto-
| ry videiice beir g aiduced thereof, may
authorize the tolls to BE- augne ,tel 50 a s 10
assure to thu Company such nett income
And, provide d, also, that after the lapse
at sixty years from the period at which
tolls sH"il have first melted ten per cent.
per annum, the niarimm54m profit of rhe
! Company may be reduced to twelve rer
| cent. ami after the lapse OF one hunlred
| years, from the sams period, to ten per
cent. per annun.
XIII. IND be IL further enacted, That the
! President * Directors of the Board of PUB
/ tic Works, sh IL vest IN some prodnc tive
fund, the unappropriaied dividends accru-
| ing upon any Of the stork committed to
| their charge, until the same Sh Ill be sne-
ciaily applied by law I'd some OBJECT of in
q. Z.
| subject TO the control OF the General AS
mblv, to sell from time to time, as NAV
| be ordained by law, the whole or any mart
| OF the shares held by the Commonwe +ith,
IN the stock of any canal, turnpike or ether
Company subscribed for under the provisi-
| ons OF tins Act, tor the purpose of investing
tue proceeds OF sale, IN the stock of some
| other simii"r Company, subj CT to the like
conditions, as have been before expressed
IN this Act.
XIV. BE IL further enacted, That the
| President and Dire TOYS Of the Beard of
! Public Works shall have power to appoint,
III behalf OF the Comnonw ealth, so many di-
recorS OF every pubic work. as shall bear
| to the whole number of the directors of
such work, the proportion of the Com
monwealth' 5 snares of stock in such work
which may be subscribed in pursuance OF
this Act. to the whole number of shares
subscribed thereto: Provided, however,
That whenever it shallbe found expedient
by the Legislature, to authorize tue sub
scrpt!on OF any part of the fund hereby
Created to any Company already incorpo-
rated, the provisions of this section s,,all
not be construed as applying to such Com
| pany, unless IL be otherwise directed by the
Act authorizing the subscription.
| XIV. Be HJ1trther enacted, That it shall
be the duty OF the President and Directors
OF the Board of Public Works, to keen a
t..ir 8 accurate record OF all their procee-
dings, which shall BE-, at all times, open to
| the inspection of the Members Of the Ge-
neral Assembly, and OF the President, Di-
rectors and other officers of any Company
Interested therein: dat they shall report
to the General Assembly, at, or near the
| commencement OF every annual session
| thereof, the exact state of the Fund for In =
ternal Improvement ; the progress and
condition, noting especially the nett IN
| come OF ali the public works within the
| Commonwealth the surye S, pans and
| estimated expence ct such new works. as
they may recommend to the patronage Of
the General Assembly together with such
| other important information, as they NAV
have 1t III their power to collect, In rcIati-
on to the objects Committed to their trust
XVI. Hnd be il further eHacted. That
| the public faith shall be, and the same is
hereby sulemnly pledged to fulfil the APP
! preparation nadc by this Act: aud
| that the said approp, lation shall continue
IN force, until the first day of January, of
the year one thousand eight hundred and
| slXty-s'x, except, at such times, as the u
nited States of America may be involved
IN war, or the safety of this Commonwealth
| may. IN the opinion Of the General Assem-
| bly,, require when the General a ssembly
may withdraw, during the period of actu-
| al hoStilt.es, or Of sIch imminent danger.
| the whole or any part Of the said fund, for
Is -