Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1828-09-27
CORPORATION PROCEEDINGS.

AN ACT to provide additional security fol
Inc payment Of all instruments on the Stock
OF the Chesapeake and Ohio Canal Compa-
ny, subscribed for by The Corporation oil
Alexandria, and for other purposes.
Sec. ]. BE il enacted by the Common Coun-
Gil OF Alexandria, Tina, in order to give add.
tional Security to the Chesapeake and Ohio
Canal Company, ard all such as are or may De.
come Stockholders in the said Company, for
the punctual payment of all such instruments
as shall from time to time become PAYABLE, on
the Stock OF the said Company subscribed for
by this Corporation-Thomson F. Mason, Ro-
oert l. Taylor, Phineas Janney, Hugh Smith,
aud Anthony G. Cazenove be, and they are here
by constituted and appointed Agents Of this
Corporation with full power and authority TO
them, or majority Of them, in the name and
behalf OF this Corporation 10 negotiate, finally
| contract for, and conclude Loan or Loans for
sum OF money not exceeding two hundred and
Fifty Thousand Dollars, payable on reasonable
| notice IN such ns!alments as may be necessary
TO meet and discharge when due, the several
| Instalmen,s that have been or may be hereafter
| called for, on the said Stock subscribed for BY
this Corporation, and the expenses Of such
loan or loans.
Sec. 2. Be it further enacted, That the said
Agent, or majority Of them shall be, anG they
are hereby fully authorized and empowered for
| the Security of the Creditor or Creditors UNI
der any Loan or Loans as aforesaid, in addition
TO the security provided by the Act of Cons
gress, entitled IAN Act to enlarge the powers
oil The several Corporations Of The District Of
Columbia, and for other purpose" Approved
May cath, lS28-to stipulate and contract with
such Creditor or Creditors for the pI-tlge TO
hpr fhp,n s,,ul, Of, all
he SAID Stock subscribed for as aforesaid by
This Corporation, and that the Mayor be, and
ne is hereby authorized and required on the
requisition of the said Agents, or majority
OF them, to execute the proper transfer and
assignmen. OF the said Stock under any and
every such pledge as aforesaid; and that in the
event that any Loan or Loans shall be negoci
ated by the Said Agents as aforesaid in con-
formity with the pro, isions Of the Act Of Cons
gresS aforesaid, and founded on the system OF
ILxation therein provided, the said agents
July authorised, as soon as practicable, alter
the execution OF The Contract or contracts
therefor, TO 6le in the name and behalf OF this
Corporation with the Secretary ofthe Treasu.
ry ofthr Unred S ates, a copy or copies Of any
and every such contract.
SEC. s. Be Ii further enacted That ON the
payment 10 The Treasurer Of the Corporation of
The sums so loaned, the Mayor be, and he is
hereby authorised and required to issue and ee-
liver To the creditor or Gre di,ors, certificates
thereof, under the seal Of the Corporation, ac-
cording TO the terms Of such loans, ana in the
form prescribed by the aforesaid Act Of Con-
gress, 20 b. signed by he Mayor and counter
sigred by the Clerk If the Council: Provided,
that no such certificate shall be issued for any
sum less than one hundred dollars; and that
within ten Gays alter signing such certificate
the niavor shall deposite with the Secretary Of
The Treasury Of he United States 4 list there
Of, au hrntica,ed by his subsr ri2,ion.
Sec. 4. Aud be i, further enac,ed, That this
Act Shall commence aud be in force from and
aier the passage thereof.
Passed in Council this fourth day of Seplem
Der, 1923.
RI TAYLOR, Pres't Of Council.
Approved.
+. F. MASON, Mayor.
Test. | y. THOMPSON G..