The Madisonian., 1850-03-28

AJNNs - IL. ~ NstNSSCtV OH ttt< ~ t""e~
tire Of The State Of Mississippi, That
the Board Of Police of the County Of
Madison be, and they are hereby au-.
thorized aid required TO subscribe for
capital stock III the Canton and Jack
son Rail Road C Company, to the amount
Of one hundred thousand dollars, for
and on account of the county of Mad
ison, and for the payment thereof, they
will issue one hundred bonds Of one
thousand dollars each, payable to the
president, Directors, and Company, Of
| the Canton and Jackson Rail Road. or
bearer, reGeemable in twenty years or
sooner, at the option Of The obligors,
bearing interest at the rate Of six Per
cent per annum payable annually, and
10 dcIiver the same to the commission
ers appointed for the taking Of stock at
Canton, s.,i-a. .s..
Sec. 2. Be St further enacted That
he said Board Of Police shall levy a
special tax ON said county, for the pay
ment of the annual interest on said
bonds, which shall yield the nett sum of
six thousand dollars per annum, to be
collected in the same manner that 9th
er taxes are now collected in SAID coun-
Ity. -,
Sec. 8. BE 1t further enacted, That
the dividends accruing on said stock so
subscribed, shall be appropriated to the
payment Of the annual interest accru-
ng on and the redemption Of said bonds,
and that after said bonds shall have
been all redeemed, the said dividends
shall be paid into the County Treasury
and form parl of the revenue OF
said county.
Sec. a. Be further enacted, That the
Bonds to be assigned under the first
section Of this act, shall be to the fol-
lowing form and effect. Know all men
by these presents, that the county OF
| Madison in the State of Mississippi is
Justly indebted to the President, direc'
tors and company Of the Canton and
Jackson Rail Road or bearer, in the
sum Of one thousand dollars payable
twenty years after the date hereof, ol
sooner, at the option of said county
bearing interest from the date, at the
rate of six per cent ger annum payable
annually, for the payment Of which
: debt and interest, the revenue Of sait
comfy is hereby pledged in witness
whereof, &c, which said bond shall b'
signed and sealed by the Presidnet o
the Board of Police Of said county, ant
countersigned by the Clerk Of SAT-
Board with the seal Of the county at
, tached.
Sec. 5. Be 1t ftrtler enacted, tha
said President, directors and Company
may sellsaid Bonds or any part of them
provided they can be sold at par, AM
invest the proceeds thereof in the con
struction of said road. ,
Sec. 6. Be 1t further enacted, Tha
! the county of Madison shall be entitle
To three members Of the Board OF Dl
rectors of said corporation, who shal
be appointed by the Board Of Police o
: said county.
Sec. I. Be it further enacted, Tha
The question of subscription Of stool
by the county of Madison in said Raj
Road, be submitted to the people o
said county at an election to be held o.
the second Monday of April 1850, whel
r if it shall appear that majority of th'
= number Of votes cast for the severa
S candidates for Governor Of this Stat
s at the November election eighteen hun
: dred and forty nine, are IN favorof sab
subscription; then the said Board ar
required to subscribe the same as here
in before provided, unless majorit
, of the number of votes SO cast as atore
!, said for the candidates for Coverno
: shall vote in favor Of the subscriplio
Of said stock, then the question of sui
: scription shall again be fully submitte
e TO the people Of said county on the hrs
Monday of November next lhereatte
d and this act shall not take effect unles
7. = majority of the number Of votes ca
y as aforesaid for Governor shall be i
favor Of said subscription-rrevide
always that said Board of Police sha
nj not subscribe for said stock, nor issu
said R.s.s.lS ,in,il tho ain, nf at lenet o"
hundred thousand dollars shall hav
been subscribed for stock in SAID Ra
a Road by individual or company stock
i holders. aA
Is Sec. 8. Be IL fartze, enacted, Fh'
SAID Board of Police shall appoint 10
or more persons for each precinct i
,r said county TO conduct said election
: whose duty 1t shall be to ask each vote
. whether he is for or against the sui
J. scription Of said stock, and record an
IS return the same to the clerk of the Pro
s bate court Of said county, to be by hir
! reported to the said Board, provide,