The Lancaster gazette. (Lancaster, Ohio) 1846-1852, 1849-08-24


mounts not less than one hundred dollars; which
bonds or obligations shall be made negotiable,
bearing interest, payable annually at such place
and at such rate, not exceeding seven per cenum
per annum, as may be agreed upon; and such
bonds or obligations may be made redeemable at
such time as may be deemed expedent by said
commissioners; or such bonds or obligations, or
any part thereof, may be issued directly to said
company in payment of said stock, as said com.
missioners and the officers Of said company may
agree.
SEo. 8. That said commissioners shall keep an
accurate register of fal bonds or obligations issued
uBder the provisions Of this act showing the
dates, numbers and amounts thereol,and to whom
and when payable, and the rate og interest stipu-
lated theren and they shall also cause to be kept
in the Office Of the county auditor, such books and
entries as will fully show all liabilities, receipts,
disbursements and the precise state of the indebt-
edness Of the county. i'll any way arising under
this act.
SEC. 4. That the faith Of the county and the
nett profits or dividends upon the stock so sub
scrbed by the county. shall stand pledged for the
payment Of the indebtedness and interest which
may become due from said county under this act
aud it is. moreover, hereby made the duty Of the
commissioners and the auditt Of said county, from
and after the contracting of any Indebtedness u
gainst said county under this act, TO add such per
centum upon the tax duplicate Of said county, an
nually, over and above the ordinary State and
county taxes. as shall be sufficient. when added
to the dividends or net profits Aforesaid, to pay
the accruing interests arising under this act and
also TO provide sinking fund of such amount as
they may deem expedient; and the money so lev
led, when collected, shall be applied to the Pur-
pose aforesaid. and TO none other.
SEC. s. That said commissioners shall, by
themselves or such agent or agents as they may
appoint have full power TO vote at all meetings
ollhe stockholders of such railroad company, in
proportion to stock owned by the county, and in
all other respects to act in the business Of such
company as individual stockholders in the same
are authorized by law to do; and the said commits
sioners are hereby authorized, whenever they may
deem the same expedient, to sell and transfer any
or all stock owned by the county, in such cOmpa-
nv, in order to pay of the Indebtedness which
may arise under this act: Provided however that
no sale or transfer Of any stock shall be valid un-
less it produce its full par vaue and the proceeds
of such sale shall be applied to the ex'ingushment
ofan equivalent amount OF the indebtedness oithe
county, created under this act.
SEC. 6. That before any stock shall be sub
scribed to such railroad company under this act
the question shall be submitted to the qualified
, electors of said county, whether the county shall
become a subscriber or mott and to this end it is
further provided, that, upon the written applica-
ton of thirty or more citizens OF said county to
the sheriff Ofthe same, thirty days prior to any
annual spring or fall election it shall be the duty
of said sheriff to give notice, at least twenty DAYS
prior 10 said election. by advertisement in all the
!; newspapers published in said county. aud contin.
ue the same in said papers until the time Of said
election, that vote will be taken for and against
such subscriptions and the said sheriff shall als,,
I'll L. I'll. ii r.. al.
length Of time, copy of this act and the qualified
electors of the different townships OF said county
SHALL at the election so given notice OF by the she-
ill., as aforesaid vote for or against such subscrip-
ton, by using one or the other Of the following
phrases, to be printed or written on their ballots
"lor subscription" against subscription"
SIC. T. That the judges OF said elections, in the
6 several townships OF said county, shall respective
y keep statement of all the votes given for and
against said subscription at said elections and
within three days after said elections, thejudges
Of elections shall certify to the clerk of the court
Of common pleas of snid crunty the number oil
votes given for and against the proposition; and il
is hereby made the duty ofsaid clerk, in the pres
ence oftwo justices OF the peace Of said county tC
! examine and make an abstract OF all the votes
- given in the county against and all the votes Civ
en- In favor of subscription, which abstract shal
be signed by said clerk and justices and filed III
the office Of said clerk; and il it shall be found thai
more than half the votes given at said election on
the question shall be in favor OF subscription the
u clerk shall certify the same to the county com
% missioners, whose duty it shall be thereupon tc
Z subscribe for the stock in such railroad company
and in all other respects to conform themselves to
the provisions Of this act: Provided, that it ma
iorty OF the votes so given be against subscription
the question may, on like application, be in lik,
= manner submitted to the qualified voters of salC
y u county, at the next or any subsequent annua
u spring or fall election; aud il, at such second Of
any subsequent elections, said question be deci
ded by majority of the votes given thereon il
favor of subscription, such decision shall have tn,
same effect and force us il made ut the first elec
ton.
SBc 8. That said commissioners shall allow
said sheriff, auditor and the publishers of said pa
pers reasonable fees for their services under thi
= act; and the said commissioners shall be entitled
TO the same per diem allowance for the time oc
cuped in the discharge Of any of the duties impos
r. ed on them by this act as they now or may here
? after be, by law allowed for other services
y" SEC. 8. That any two Ofsad commissioners ma
of do and perform any act or thing which the sail
;" commissioners are, bv this act authorized or re
2, quired to do or perform.
So ~ SEC 10. That this act shall take effect aud b.
on in force from aud after its passage.
OK JOSEPH s. HAWKINS,
~ Speaker of The House of Representatives..
Ir CHARLES b. GODDARD,
'rs Feb. "a, l848. Speaker Of The Senate.
AN ACT to amend the act authorizing Ih
IN Commissioners OF Fair field county 10 sub
scribe at Oelk In N II aiIroad C0Inunnv naas