Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1842-02-19

sold commissioners, whose duty i, is to give saic
directors notice thereof, not more than thirty day:
after said election said directors shall appoint one
Of their rumber as president of said board, and
they shall! also appoint a secretary and treasurer
of said board, whose duties, terms Of service anC
compensation shall from time 10 time be regula
ted by saId board.
SEC. IL. Before said board shall proceed 10 ex
ercise any further powers, intended TO be confer
red by this act, the shall, 10 conjunction with the
commissioners aforesaid, make out and certify
under their hands a full and complete siatefneu,
Of all their respective actInss and doings IN the
premises and shall accurately specify therein
the name assumed by said association, and shall
cause the whole Ia be recorded at length by the
secretary of the board in a book 10 DO provided
and kept f.! that purpose, which, or Il sworn copy
thereof. shall be evidence OF the matters and
things therein contained, in all courts Of llstice
in this State; and SAID board shall cause a :ull
and complete copy thereof to be made ont by
their secretary. 10 be certified by him under oath,
which shall be deposited in the Office OF Secretary
of State Mt indianapolis.
SEC. j.. Immediately after said copy shall be
Deposited 10 the office of the Secretary Of State.
If the Governor shall be satisfied iherefrom that
the provisions Of lhls act have been substantially
complied with by sstj commissioners and board
Of directors, he shall forthwith issue his procia.
nation thereof under the seni Of the State, and
shall cause the Same to be published in the week
!y newspapers printed at Indianapolis, for three
weeks successfully, which publication shall be
paid for by the company. No association or com
pany shall, under the provisions of this act, be en-
titled 70 take any one or any part of the public
works, IN this bill referred TO, until the first day of
April next, and not untIi the intention of the State
to let or sell her public works to companies, shall
have been first advertised, for one month, IN the
'Journai OF Commerce." a paper printed In the
city of New York. And the Governor shall, af-
ter having caused said publication, together With
The Treasurer. and Auditor of State, form a board
to receive proposals from companies or individuals,
TO take said work or works, aud on The first dav
Of April next, or at a suitable period afterwards,
the Governor shall appoint commissioners on be-
half Of the ASSOCIATION which is preferred, who
who shall receive subscriptions of stock as has in
this act been provided.
SEC Is. As soon rs proclamation shall be
made as above required, all the rights, privileges.
franchises and Inmunif.es intended TO be confer
red bs this act, shall vest as fully and completely
III SAID assocIst.on as NJ the same had been grant
cd and established by a public act Of incorpora-
tlon for that purpose; and said association in its
proper name assumed as herein provided shall
continue for the term Of fifty years; and shall
have power TO contract and be contracted with,
IT, sue and be sued, plead and be ifnpleaded in all
cnDrts OF law aud equity, and maintain and defend
~! actions, suits, paints aud pleas as any other
corporation; TO make aud use a common seni and
alter the same at pleasure; 10 hold. purchase,
sell, lease eud convey real estate as tho purposes
Of The SAID association shall require within the
purview Of this Get; and DO all other acts and OK.
creme all such powers as may be essential TO the
"tjectof such association; but no such association
sh Ill exercise any powers IN addition 10 the pow
ers enumerated and gwen in this act. except such
powers as nre necessary 70 The exercise of such
enumerated and given powers. P~roviaad, how
ever, That at the expiration Of the fifty years
for which this charter is TO run. said works shall
not revert to the State. until the State shall re-
fund 10 such company the money actually expen-
ded on such works by way of constructions; and
he amour, paid by the association tor State
Bonds without interest.
SEC. ii. Said commissioners, rs soon as the
FIRST board of directors Of such association is or.
ganized, shall forthwith deliver over to said board
The subscription books of stock, and shall pay
over also 10 the order OF said board all moneys
received by them on such subscription.
SEC. ID. The board of directors of every such
association shall continue 10 Office for the term o!
one year, aud until a new board is chosen aud or
ganIzcd.
SEC. l6. The frs, board of directors. at their
lhrsil meeting after proclamation shall have been
made. as provided in the preceding twelfth Sec
ton, shall fix the Time for tho next annual cleo
ton of directors, not more than one year from The
Tune Of such meeting; and all subsequent cleo
tons for directors shall be held annually thereaf
ter.
SEC. II. One months previous notice for The
e0'" u uiEecie's, AT each annual election,
shall he gwen IN two public newspapers, on the
route oi such work; or # none il published there
on, then IN two newspapers printed the nearest
thereto.
SEC. Is. If any annual election shall not be
held for directors on the proper dav fixed for hold
ing the same. il shall he held a, some early day,
To be appointed by the directors then IN office,
giving the same notice thereof as is given for
elections regularly held.
SEC. 10. SAID board shall have power TO supply
vacancies in the office of secretary and treasurer
of said association; 10 meet from time n time, as
NAV be expedient; 10 adopt such rules and regu-
Iations. nad make such BY laws as in their iuig.
men' the hftliTs Of The association NAV require,
and which are necessary to perform the duties
and carry out the powers granted BY this act; TO
appoint such subordinate officers. engineers, ar.