The Madisonian. (Canton, Miss.) 1850-1855, 1850-03-14
BILL.

"A Din I'D Bg DNAAAteA aN ~ ~ NtAtN"N
al ACT entitled M aet 10 incorporate the
Canton and Jackson Rail Road Com.
pnny approved. February the lst, 1s4l.
and passed February 7th lS45.
Sec. /. Be il saactca by Me LegiaG-
tare ofAe State Of MississiPPl That
The Board Of Police Of the County OF
Madison Be, and they are hereby au-
lhorized and required 10 subscribe for
capital stock ~ the Canton and jack
son Rail Road Company 10 the amount
Or one hundred thousand dollars, for
and ON account Of the county Of Mad
ison. and for The payment thereof, they
win 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, reaeemable in twenty years or
sooner, at tho option Of the obllgqrs,
bearing interest 81 the rate Of six per
cent per annum payable annually, and
10 deliver the same to the commlssitn
ers appointed for the taking Of stock al
Canton.
Sec. 2. Sc ID further enacted, That
he said Board OF Police shall levy a
special tax on said county, for the pay
mcnt of the annual interest or said
bonds, which shall yield the nett sum Of
six thousand dollars per annum, to be
collected in the same manner that 9th
or taxes arc now collected in SAID coun.
~. :,
Soc. 8. Be ID further enacted, That
the dividends accruing on said stock 50
subscribed, shall be appropriated 10 The
paymen of the annual interest accru-
inc ON aud the redemption Of said bonds,
ana that afor said bonds shall have
hcen ali redeemed, the said dividends
shan DO paid into the County Treasury
and form a part Of the rcycnu Of
said county.
Sec. 4. BE further enacted, That the
Bonds 20 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 II The State Of Mississippi is
Justly indebted to the President, dlrcc'
Tors and company Of the Canton and
Jackson Rail Road or bearer, iii the
sum Of ono thousand dollars payable
twenty years after the date hereof, OF
sooner. at the option Of said county
bearing interest from the date, at the
rate Of six per cent FER annum payable
annually. for tho payment Of which
Debt and interest. the revenue Of said
county is hereby pledged i'll witness
whereof, &c, which said bond shall be
signed and sealed by the President Of
the Board Of Police ofsaid county, and
coun,ers;gncd by the Clerk Of said
board with the seal Of tho county at
lachcd.
Sec. s.. BE il further enacted, that
said President, directors aud Company
may sell said Bonds orany part Of them.
provided they can be sold at par, and
invest the proceeds thereof in the con
struction OF said road.
Sec. 6. BE it farthcr enacted, Thai
the county Of Madison shall be cntitle
10 three members Of the Board Of Di
rectors Of said corporation. who shall
be appointed by the Board Of Police o.
eaid county.
Sec. Z. BE IL further enacted, Thai
the question Of subscription Of stock
by the county Of Madison in said RAJ
Koud, be submitted TO tho people d
said county at an election TO be held OF
the second Monday If April 1850, wher
If it shall appear chat a majority Of thC
number Of votes cast for tho eve
candidates for Governor of this State
ut the November election eighteen hun
bred and forty nine, arc III favor Of sai(
subscription; then the said Board arr
REQUIRED to subscribe the same as here
ii before provided, Unless a majorit,
uf the number Of votes so cast as afore
said for the candidates for Governor
shall vote IN favor OF tho subscription
u said stock, then the question ct sub
~scriptiun shall again be fully submitted
10 The people Of said county on the frs
Monday Of November next thereafter
and this act shall not take effect unlcs:
d majority Of the number Of votes cas-
rs aforesaid for Governor shall 10 il
favor of said acknowledgements
always thai sand Board OF Police shal
not subscribe for said stock, nor issu'
said Bonds until the sum Of at least on
hundred thousand dollars shall AayI
been subscribed for stock in SAID Raj
Road by individual or company stock
holders.
Sec. 8. Be IL furt6cs enacted, rha
sald Board IL Police shall appoint 10
III more persons for each precinct i
said county 10 conduct said election
whose duty it shat be to ask each vote
whether lie il for u against the sub
scription Of said stock, and record an
ycturn the same To tho clark cf the PRO
csa.l e.,,snlv IN hn kv bir