Louisville messenger. (Louisville, Miss.) 1842-1843, 1843-03-04

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III oftId Difocl0s sislI ho frducfd
10 y pcnons.
I $50. 3. And be- II i1dhef euloied,
IThlt lhc President sod Directors ~
Iibe Bank shhi cacb give bond 10 dio
| Bank in the mi1 of s1U0Dn, with =
lor more foeuHlics lof tho Gdlhful rei.
lofnnuce Of the duties of their oiice
dat tt alil bond ginli BIZ token by
lhe Judge of lhc county cont. o.
| Hon,fau ~ county; and after being
lfccordcd in lho Office OF tho clork oi
llhc county, shall be forwarded By
him 70 the Secretary Of State, and q
certified copy Of the bond OF record
.hal be evidence in the place cf he
Original.
SIC. 8. And be ii further enacted.
That The bills OF the said Branch
Bank shall be receivable as hereto
fore in payments Of all debts now due
Of which may be running to maturity
and the future renewals and extern
.ions Of the same in the Bank Of the
State of Alabama and either Branch
thereof, and when the bills of the H.
! Bank aforesaid shall be taken, they
! shall not be 're-issucd; but the Bank
or Branch Bank taking them shall be
entitled 10 repayment cut OF thoasses
Iof the said Branch Bank It Montgof
imery, after the payment Of the debts
dae It's bill holders and depostors.
SEC. z. And be it further enacted,
That after the LIST day Of March nexb
1.-The officers Of the said Bank shall
Iconsist Of Cashier and two clerks,
That the salary Of the cashier be 1900
per annum. AID the = clerks Shall
have $1,000 each.
SIC. s. And be il further enacted,
THAT the real estate row held or
which may be acquired by the said B
Bank in settlement OF any debt, is
hereby pledged for the payment ofthe
Idebtsof the Bank in equal proportions
aud are herebyvested in tho President
and Observation-Disclosures fer that psaa
pose.
SEC. o. And be it further enacted,
THAT two commissioners shall be ap-
pointed by the Governor, who do not
reside in the vicinity of said real cs-
hate, whose duty it shall be TO exam
line and value the same upon cath, in
suitable tracts and parcels for tie pur-
pose of selling the same; which valu-
alton, with description Of said trac.s
| shall be by them returned to the Sec
Rotary of State to be filed in hi: office
upon The reception ofwhica it shall be
1.-The duty of the Gov. Cat such tunes Y
places. as he with the advice Of the Z.
I& Directors Shall deem advisable) up
on giving 50 days notice Of the time
& place, in some newspaperpuhI'she
Inc lre,t The location of the real estate
TO be sold, to offer said real estate for
sale in such parcolsto the highest bid
der at public sale, for cash, 4 the re-
sidue in |, 2, & 3, equal instruments,
with 6 per cent. per annum interesI
thereon, payable in the notes of the
State Bank, or any ofits Branches.
Snc. 10. And be il further enacted,
That I of the value so fixed upon the
said lots, shall he the minimum fixed
lat which it shall be set up, which II
not sold the same shall be withdrawn
from sale.
SIC. IL. And be it further enacted,
Thatit shall be the duty ofthe Prcsi-
dent and DIRECTORS, or their authori-
sed agents conducting said sale tot take
the note ofsuch purchaser or purcha-
sers of any such tracts, parcels or
lots 50 sold, for the residue of the
purchase money and interest as here
tofore provided for, and give him.
her or them certificate of purchase
specifying the lot, parcel or tract SO
purchased, and price, and shall also
return the notes and purchase money
SO received, to the Branch Bank;
and take the receipt of the cashier
therefor, and return said receipt to the
Office of the Secretary Of State; and
upon full payment being made for
any purchase, the President and Di-
rectors of said Brach Bank shall
make titles to the purchaser or pur-
chascrs, their heirs or assigns, for the
tract SO paid out in full, and i any
Of said notes are not punctually paid,
the Governor shall be authorised toI
declare the contract forfeited, 70 dis
possess the purchaser, and resell the
premises asifno sale had been made,
i nor shall any part Of the money paid