Vermont telegraph. [volume] (Brandon [Vt.]) 1828-1843, 1836-12-07

ever called for by the State Treasurer up
on the reouisition Of the United States, or
for the purposes of a new apportionment,
in the same manner as towns are now ac-
countable for the State taxes.
Sec. 3. II IS hereby further enacted,
That the Treasurer of this State shall, on
the receipt of any portion of such money,
deliver to the trustees of the respective
towns, such sum as such towns shall re-
spectively be entitled to receive on deposit
agreeably to the census taken in the year
one thousand eight hundred and thirty,
and such trustees shall respectively exc
cute 10 the Treasurer of the State certif-
Gates of such deposits, in such form as the
said States Treasurer is required to exc
cute to the Secretary of the Treasury OF
the United States, agreeably to the provis-
ions of the act mentioned in the first sec
ton of this act.
Sec. 4. 1t IS hereby further enacted,
That the trustees of the respective towns
shall loan out the money so deposited to
such persons and in such sums as they
shall Judge expedient, for a term not ex-
| ceeding one year, at one time, and on such
security, either with one or more sureties
or on mortgage, as they shall deem amply
safe, at an interest Of six per cent. paya-
BILE annually, and make all securities TAX
en- for the same payable to the town loan
ing the money, and such money may, al
ter the expiration Of the time for which it
shall be loaned, be collected by the trus-
tees in their town, and reloaned whenev
er they deem it expedient
Sec. 5. 1t IS hereby further enacted,
That the interest arising from the money
deposited in any town shall annually be
appropriated by such town to the use of
common schools in such town, agreeabIy
to the provisions of this act : and in the
year l84l, and as often thereafter as
census shall be taken by the authority of
the United States, or of this State, it shall
be the duty of the Treasurer to make
new apportionment of the money so de-
posted as aforesaid among the several or
ganized towns, according to the popula
ton thereof, and shall have power to call
upon the several towns who have in de-
posite larger amount of said money than
their proportion, for the amount of such
excess, and it shall be the duty of the trus-
tees of such towns to pay over the same
to the Treasurer aforesaid, who shall
thereupon deposit the same in such towns
as have not their portion Of said money in
deposit, in proportion to their population.
Sec. 6. IL is hereby further enacted,
That if any town shall have other school
funds, sufficient to support school in the
several school districts in such town for
six months in each year, then and in such
case it may be lawful for such town to ap-
propriate the income from said deposite
money to such other use as such town
may direct.
Sec 7. II is hereby further enacted,
That it shall be the duty of the Grand Ju-
rors, empannelled before the County
Courts in the several counties in this
state, in each and every year to inquire
into the manner in which the several
towns in their respective counties have
managed SAID money and the annual in
terest thereof, and shall present to said
courts an indictment against each and eve
ry town ofsaid county, in which the du-
ties Of said towns have not been attended
to agreeably to the provisions of this act :;
and any town so indicted shall, on convic-
ton, be sentenced to pay fine not exceed
ing the amount Of double the annual in
terest of all the money deposited with the
trustees Of such town, in conformity with
the provisions of this act, in the discretion
of the court, together with the costs of
prosecution, which fine and costs shall be
paid to the Treasurer Of the county in
which the conviction shall be had, and to
the use Of said county.
Sec. g. 1t is hereby further enacted,
That If any town or towns shall neglect
or refuse to appoint their trustees for the
purpose of receiving their proportion of
said money, agreeably to the provisions
Of this act, the Treasurer ofthe State shall
put the same TO use in such manner as he
shall deem most expedient, and annually
pay over to such town or towns the inter-
est arising from such sum as they were en-
titled to receive on deposit.
CARLOS COOLIDGE,
Speaker Of the III. of Reps.
L. N BRIGGS,
Prest pro tenn. of Senate