The Madisonian. (Canton, Miss.) 1850-1855, 1850-04-04
BILL.

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Sec. /. Be It enacted By 1s Leo;a.
ture Of Me State Of Mississippi, nm,
theBoaTd Of Police of the 0ouD,v Y
Madison be, and they are hereby !.
thorized and required to subscribe
capital stock in the Canton and M
son Rail Road Company, to the amos',
of one hundred thousand dollars n
and on account of the county Of Nh
ison, and for the payment thereof. ~,
will issue one hundred bonds Of Y,
thousand dollars each, payable to N
President, Directors. and COMPANY y
the Canton and jackson Rail Road !,
bearer, reGeemable in twenty years \,
sooner, at the option of the oblipon
bearing interest at the rate Of six II
cent per annum payable annually, AMI
TO deliver the same to the commis.i0m
ers appointed for the taking Of stock !
Canton.
Sec. 2. Be 1t further enacted, Tn
he said Board Of Police shall lew !,
special tax on sald county for the "a,
ment Of the annual interest on sIl
bonds, which shall yield the nett sum
six thousand dollars per annum, ID 4
collected in the same manner that ON
er taxes are now collected in said COM.
ty.
Sec. 8. Be 1t further enacted, TIM
the dividends accruing on said stock
subscribed, shall be appropriated toth
payment Of the annual interest accn
NO on and the redemption of said bona
and that after said bonds shall hap
been all redeemed, the said dividend
shall be paid into the County Treasur
and form a part of the revenue
said county.
Sec. A. Be further enacted, That Ii
Bonds to be assigned under the Gil
section Of this act, shall be to the ID
lowing form and effect. Know all he
by these presents, that the county
Madison in the State Of Mississippi
Justly indebted tothe President, drs
tors and company Of the Canton a
Jackson Rail Road or bearer, in
sum of one thousand dollars rayaS
twenty years after the date hereof
sooner, at the option Of said cOua
bearing interest from the date, at
rate Of six per cent rer annum paya
annually, for the payment Of whl
debt and interest, the venue Of
comfy is hereby pledged in wilne
whereof, &c, which said bond shall
signed and sealed by the Presidl@
the Board of Police ofS4id countNr
couDtersigned by the Clerk Of !
Board with the seal Of the county
tached.
Sec. s. Be ii FURTHER eHacfsG
said President, directors and Comm
may sell said Bondsor any part Of ADD
provided they can be sold at pat,a
! invest the proceeds thereof in ths
~struction Of said road.
Sec. 6, Be At further enacted, n
, the county Of Madison shall be enla
!, to three members of the Board 81
rectors Of said corporation, who y
be appointed by the Board Of Polio
said county. 4A
Sec. Y. Be ii further enacted, \
1.-THE question of subscription Of y
} by the county Of Madison in said
Road, be submitted to the people
said county at an election TO be held
the second Monday of April 1850
if it shall appear that a majogityd
number of votes cast for the ssV
candidates for Governor Of this
at the November election eighteen
dred and forty nine, are in favord
subscription; then the said Board
required to subscribe the same as
in before provided, unless a msi
of the number Of votes So cast as d
said for the candidates for Cove
shall vote in favor Of the subscrlf
of said stock. then the question of
scriptioh shall again be fully suBn
to the people Of SAID county on Che
Monday Of November next thefsl
and this act shall not take effect q
a majority Of the number Of yola
as aforesaid for Governor shall
favor. Of said subscription-pgg
always that said Board Of Police
not subscribe for said stock, NOT
said Rnn.ls untilthe sum. of a
hundred thousand dollars snaA
been subscribed for stock 10 sald
Road by Individual or company
holders yll39
Sec. 8. Be u faJt1s, enacted
SAID Board of Police shall appCp y
or more persons for each preci1.
said county TO conduct said q,
whose duty 1t shall be to ask sagu
whether he is for or against gig
scription Of said stock and Fsea'
return the same 70 the clerk q Y
bate court Of said county, 20 20
reported to the said Board (,