The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1853-03-04

vi ol.EuHoHs, OF any 0art thcre0I, may ne
issued directly to said company in payment
OF said stock, as said commissioners and the
officers OF said company may agree; and all
bonds and obligations issued and negotiated
ny SAID commissioners, trustees or town
cHnncll' and "reguIar' on the face thereof
shall IN the hands Of said company, or nay
bona Ilde holder thereof, be deemed and
taken III all courts and elsewhere as concu-
slve evidence OF the regularity Of every thing
required ny this ct 10 be done preliminary
10 me Issuing and negotiation Of such notes
or obligations. ..'...',
Sec. g. Said commissioners shall keep
an accurate !cgislcr of all bonds or obliga,
tlons issued under the provisions of this act,
showing the dates, numbers, and amounts
thereof, to whom, and when payable, and
The rate ot interest stipulated therein, and
they shall also cause to be- kept in the office
OF the Andltor Of said county, such hook s
and entries as will fully snow all Liabilities,
receipts, disbursement, and the Precise
state OF the Indebtedness of this county IN
any way arising under this act.
Sec. a. The faith ofthe county, and the
net profits or dividends upon the stock so sub
scribed by the county, shall stand pledged
for the payment of the indebtedness and in.
terest, which may become due from said
county under this act; and it is moreover,
hereby made the duty Of the commissioners,
and the auditor of said county, from and after
the contracting of any Indebtedness against
said county, under This act, to add such per
centum upon the tax duplicate Of said county,
annually, over and above the dividends or nc t
profits aforesaid. to pay the nccruing interest
arising under this act, and also to provide a
sinking fund Of such amount as they may
deem expedient, and the moneys so levied,
when collected shall be applied to the purpose
afore said, and to none other.
Sec. 5. Said commissioners shall. by
themselves, or such agent or agents as they
may appoint, have full power to vote at all
meetings Of the stockholders Of such railroad
company, in propo ton to the stock owned
by the county, and in all other respects, to
act in the business oFsuch company, as in
dividual stockholders in The unme, are author
lied by law 10 do; and the said commissions.
ers are hereby authorized, whenever they
may deem the same expedent, to sell and
transfer any or all stock owned by the cnun-
ty, in such company, in order 20 pay off the
Indebtedness which may arse under tbs act :,
and the proceeds of such sale shall be applied
to the extinguIshment Of an equivalent
amount OF the Indebtedness Of the county,
created under this act, @ aN y.
Sec. 6. Before any stock shall be subscrib-
ed to such railroad compaLies under this act, /,
the question shall be submitted to the quail
fled electors OF SAID county, except the town
ship of Madison, in said county, whether the
county shall become subscriber or not; and
to this end, it is further provided, tn at upon
thu VI nnnlio of tt,irtv niti
7ens of said county, to the sheriff Of the
san.e, thirty days prior to any annual elec.
ton, it shall be the duty of said sheriff to
give notice, at least twenty days prior to
said election, by advertisement in all the
newspapers published in said county, aDd
continue the same in said papers until the
time of said election, that vote will be
taken for and against such subscription, and
the said sheriff shall also publish in each OF
the said papers, for the same length of time, +,
a copy Of this act, and the qualified electors
of said county, shall, at the election so given
notice of by the sheriff, as aforesaid, vote for
or ag ainst such subscription, bv using one
or other OF the following phrases, to be
printed or written on their ballots: "lor sub.
sciiption," "aguinst subscription"
Sec. Z. The judges of such election, in
the several townships in SAID county, shall
respectively keep statement OF all the votes
given for or aEuinst said subscription, at said
election, and shall, within three days after
said election, certify to the clerk Of the court
OF common pous oil said county, the number
of votes given for and against the subscrp.
ton. and it is hereby made the duty OF said
clerk, in the presence of two justices of tine
peace of said county, 20 examine and make
an abstract OF all the votes given in said
county for and against said subscription,
which abstract shall be signed by said
clerk and justices, and filed in the Office o!
said clerk, and il it shall be found that a
majority Of all the votes given at auid elcc-
ton on the question, shall be in favor of
such subscription, the clerk shall certify the
same TO the county commissioners, whose
duty it shall he thereupon to subscribe for
stock in some one OF all the railroad COM
panies in said county, and shall in all other
respects conform to the provisions of this
act; provided, that il. any majority of all the
votes given at said election, be against such
subscription, the question may on a like ap-
plicaton, be in like manner submitted 70 the
qualified voters of said county, at the next,
or any subsequent spring or fall election.
ard if at any subsequent election, said
question be decided by majority OF the
votes given thereon in favor of subscription,
su ch decision shall have the same effect
and force as if mado at the first eletion.
Sec. 8. Said commissioners shall allow
said sheriff, auditor, and the publishers o.
said papers, reasonable fees ior their services
under this act, AMI the SAID commissioner
shall be entitled to the same per diem al.
lowance for the time occupied in the dis.
charge Of any Of the duties imposed on them
! by this act, as they are now, or may here
after be. by law allowed for other services
Sec. 9. Any two of SAID commissioners
may do and perform any act or thing which
the said commissioners are by this act au'
thorzed or required to do or perform. s.,.
Sec. TO-. The corporate authorities Of
the town Of Springfield, and tho trustees Of
any township in Clark county, may sub
scribe to the capital stock Of any railroad
CO mpany, portion of whose road is located
in said county, any sum not exceeding fifty
thousand dollars; and TO pay the same, they
may adopt the same means, and exercise the
same powers as are given by this act tn the
county commissioners; provided, that no
such subscription shall be made until after
the question of. subscription, shall be sub
mitted tethe people of said town or town
ships, and authority given by a majority
vote, at any election held for that purpose; /;
provided, also, that the total amount of sub
scription made In pursuance o. this act,
shall not exceed the sum Of one thousand
dollars. - F-. E.r afi' y