Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1828-09-26
CORPORATION PROCEEDINGS.

AN ACT to provide additional security for
the payment Of all instaments on the Stock
of the Chesapeake and Ohio Canal Compa-
ny, subscribed for by the Corporation OF
Alexandria, and for other purposes.
Sec. |. Be il enacted by the Common Coun-
Gil OF Alexandra, Tha, in order to give addi-
tional Security TO the Chesapeake and Ohio
Canal Company, ard all such as are or may oe-
come Stockholders in the said Company, for
the punctuai payment Of all such instruments
as shall from time to time become payable, on
the Stock Of the said Company subscribed for
by this OBSERVATION-DISCLOSURES F. Mason, Ro-
Ser, I. Taylor, Phneas Janney, Hugh Smith,
aud Anthony G. CazenoYe 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
Fifty Thousand Dollars, payable on reasonable
notice in such instalmcnts as may be necessary
to meet and discharge when due, the several
instalmens tina, 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
Agents or majority OF them shall be, and they
the Security of the Creditor or Cr .i,ors UNI
der any Loan or Loans as afore said, in addition
TO the security provided by the Act Of Cons
gress, entitled Gan Act to enlarge the powers
Of the several Corporations Of the District of
Columbia, and for other purposes"
May 24,h, l82S-to stipulate and contrac, with
such Creditor or Creditors for the plt dge TO
him, her or them respectively, Of any or all Of
the said Stock subse ribed for as aure said by
this Cooperation, and that the Mayor be, and
he is hereby authorized and required on the
requisition of the said Agents, or a ma jurity
oil them, 10 execute the proper transfer and
assignment. Of the said Stock under any and
every such pledge as aforesaid, and that in the
event that any Loan or Loans shall be nego-
,ia'cd by the said AgeEts as aforesaid in con-
70, mi:y with the provisions Of the Act Of Con.
gress afore said, and founded on The system Of
Taxation therein provided, the said Agents are
fully authorized, as soon Us practicable after
The execution Of the Contract or Contracts
therefor, to file in the name and behalf of this
Corporation with The Secretary Of the Treasu-
ny Of the United States, copy or copies Of
any and every such contract
Sec, 5. Be it further enacted, That on the
payment 20 the Treasurer Of The Corporation,
OF the sums SO loaned; the Mayor be aud he is
ntTfO) dulHOItZ'u anu iSIulIeu 10 ISSUE anu
deliver 10 the Creditor or Creditors certificates
thereof under seal of the Corpora IN, accord
ing 20 ne terms Of such Loans, ana in The fol m
prescribed by the aforesaid Act Of Congress,
TO be signed ty the Mayor and counrersigned
by the Clerk Of the Councils Provided that I'm
such certificate shall be issued for any sum
iess thar~one hundred dollars, and that with
in DAYS after signing such certificate the
Mayor shall deposile with the Secretary Of the
Treasury Of the United States list thereof,
authenticated by his subscription.
Sec. I. And be il further enacted, That this
Act snail commence and be in force from and
alter the passing thereof.
Passed IN Council this Fourth day Of Sep
TENDER, 1928.
RI TAYLOR, Pres't of Council.
Approved,
THOMPSON F. MASON, Mayor.
Tssr, P. thompson, c c.