Fremont weekly freeman. [volume] (Fremont, Sandusky County, Ohio) 1850-1853, 1850-09-21

ana securities on behalf OF ana Dlndlng on
said township or townships as they may deem
proper, payable at such time, in such manner,
and with such rate of interest not exceeding
eight per centum, payable semi annually IN
advance, as said board may deem proper; and
said board is hereby authorized to levy and
collect on such township or townships on be-
half of which such subscriptions is made, such
amount of tax as may be necessary to pay the
principal and interest on all such subscrip-
tions, bonds, notes, mortgages, pledges and Sc
curities so authorized to be given; and said
board shall have power to levy said taxes ei
ther on the real estate only Of such townships,
at a rate per acre, TO be fixed by said board, or
on the entire taxable property thereof: or said
board may adopt one of said modes ofleYying
said tax on any one or more townships, and
the other mode as to one or more other town
ships; all taxes levied by virtue of this act
shall be collected as county taxes are, or may
by law collected. Said board in making sub
scription on behalf Of any township, and in Civ
ing bonds, notes. mortgages, pledges and secu-
rites as aforesaid, may covenant for the levy
and collection of the taxes herein authorized; !;
provided, that so mach Of this act as author
ICES subscriptions by counties or townships to
any plank road company, shall not apply to
or be in force in county except Union and
Hardin.
Sec. 20. That whenever it is made to ap-
pear to the satisfaction of the county commits
sioners of any county that a majority of the
tax payers of any township in said county are
in favor of levying tax on the taxable prop
erty of such township for the benefit of any
one of said companies, on the taxable proper
ty of such township, at such time or times as
said commissioners may deem proper,any sum
not exceeding fifteen thousand dollars, on any
one township, and the same shall be levied at
any regular or special session of said commits
sioners, called for that purpose, and said tax
SO levied shall be collected as county taxes are,
or may be by law levied or collected, and as
fast as collected shall be paid over by the
treasurer of such county to the treasurer of
the company for which the tax may be levied,
to be expended and applied under the direc-
ton of the proper officers of said company in
the construction Of the road authorized to be
constructed by said company, and said commits
sioners are hereby authorized to do all acts
necessary or proper to enforce or to carry into
effect the provisions Of this act; provided, that
the tax herein authorized TO be levied shalla all
be levied within three years from the time
the first levy is made; and, provided, no tax
shall be levied by virtue Of this section for any
company to which subscription shall be made
on behalf of any township, as authorized in
preceding section Of this act, nor shall any sub
scription be made on behalf of any township
by virtue of the preceding section aforesaid, in
which tax may be levied BY virtue of this
section.
Sec. 26. That when any person or persons
may pay the tax levied by virtue of the pre-
ceding section, or when the same shall be col
lected, such person or persons shall be entitled
to receive from the treasurer of the proper
county, a separate receipt stating the amount
of tax paid, and for what purpose, which re-
ceipt shall be transferable by blank endors-
ment or assignment, and whenever such re-
ceipt shall be presented by any person or per-
sons to the treasurer of the company for the
benefit of which such tax may be levied, such
person or persons shall be entitled to receive
a certificate of stock in said company for every
amount of twenty-five dollars of receipts so
presented, and it shall be the duty of the treas
urer of said company to issue certificates ac-
cordingly, and such certificates shall entitle
the owner to all rights of other stockholders;
provided, that this and the preceding section
Of this act shall only be in force in Union and
Hardin counties.
Sec. 27. That whenever subscription shall
be made to the capital stock of any one of said
by the board of commissioners of
any county, either on behalf of a county, or
any one or more townships therein, or whenev-
er any bond, note, mortgage, pledge or secu-
rity, shall be given for money borrowed to pay
such subscription, or for interest due or to be-
come due thereon, the making of such sub
scription and the execution of such bond, note
mortgage, pledge or security, shall be conelus-
i've evidence that the same was authorized,
and that all preliminary steps to authorize the
same have been complied with.
Sec. %. That the several companies afore-
said shall have the same rights and privileges
IS to taxation, that are conferred upon the Mi
an and Richland Plank Road company, until
he General Assembly shall by law otherwise
provide for the taxation of the capital stock
and property of said companies as other prop
erty; provided, nothing herein contained shall
De so construed as to prohibit the General As |
sembly from taxing the capital stock and prop
srty of said companies in the same manner as
other property is taxed; and be it further pro-
Tided that the several companies incorporated
BY this act shall be subject to the provisions |
of any general law which may hereafter be |
passed regulating the basis and mode of as
iessing damages for materials taken, or for the
light Of way.
Sec. %. Each of said companies shall have
power TO make their respective roads of the
herein authorized, or any portion of
'uch road of any other kind of material author
zed as aforesaid.
Sec so. In case this act be not accepted by
he respective corporations hereby created land |
he business operations of the respective cor
,orations commenced under the same respect
vely in good faith, within the period of three
ears from the passage of this act, then this
ct shall, as to all and every such corporation
o failing to accept and commence operations
n the manner and within the period aforesaid,
,e wholly null and void, and at any time after
wenty years from the time any road incorpo
ated by this act may be completed, the legis-
ature may regulate the tolls to be charged
IN such road, or the counties through which
my such road may pass, shall have the right
o purchase such road under such regulations
H,v sJ.,l c.