The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-06-30

piece Of land for public use, and for squire
laws relating particularly to the city Of Nov ork INTO
one act, passed April 0, 1872 and the several acts
smendsory thereto such portions thereof now
in force 80 far Is the same are applicable to the laying
out and taking Of public and places In the city OF
New York except as hereinafter Provded and al such
portions Of the said act and Of the said several acts
amendaory thereto applicable to the laying out
and taking pbc squares and places in the said city
laying out of the piece of land above described and for
public square in the manner and to the same
down and for public square upon the map or plan
aforesaid Of said city, except hereinafter provided
Sec g. Five shall Be- appointed Commissioners
of Estimate and Assessment instead az three and in
Of the DEATH resignation refusal TO act of them
either of tbem it shall be lawful for the supreme
Court in the First judicial district, at special term
thereof the application Of tbs said Mayor Aldermen
and Conmonalty, and officers such event shall hap
to int ev Of x anS % s
OF such Commissioner so DYING resgning or refusing to
act.
ioners under this act 1t shall be competent and lawful
for three said commissioners 80 to be appointed
TO perform the trust and duties Of their appointment
and their acts shall be valid and eectual the acts
of all the commissioners to be appointed II they had
acted therein would have been and in every the
proceedings and decisions of such being
three in number, shall be acting in the premises. shall
be vsld and e(ectusl if the said commissioners
therein.
Sec. s. The said commissioners may allow compensa-
ton for any building or buildings upon the said land,
which may have been built placed erected thereon
after time of the fling Of the original maps or plan
of the said city.
SEC 8. Payment Of the damages awarded by the said
commssiorers shall be made and become due, and pay
able impeoaely upon the confirmation Of the report Of
| said cormi: siopers in the premises,
Sc For the payinen. =. so much Of the damages
awarded by the Commissioners of Estimate aud Assess
ment, and the expenses disbursements and charges in
the premises shall exceed the amounts or sums that
may &c assessed by the said commissioners upon the
parties and persons, lands aud tenements deemed by
them benefited BY the opening of such public square
| or place. it shall be lawful for the said Mayor,
Aldermen, and Commonality to raise the amount Of
such excess by loan, by the creation of q public
fund or stock to bs called sthe Csntra Park Fund
"Dich shall bear an interest not exceeding five
uer cep. per annum and shall be redeemabe within
period Of time rot exceeding fortyfve years after the
said piece Of land aforesaid 70 DO taken snail DC
irrevtcsbIy pledged
Sec. g. 1t shall he lawful fer the Mayor AMem~"' anu
Commoralty to determine what shall bs the n0r,in.
amount value of each share of said stock and of what
number Of shares the sha consists and they are
hereby authorized TO sell and dispose Of such
public auction or at private SALE by subscription for
such stock, and such terms they shall think pro-
per- said scck shall not be sold at less than its par value
Sec y In order to pay the interest upon the stock
hereby authorized the Mayor Recorder and Aldermen Of
the city and county OF New York. the supervisors
thereof hereby authorized and empowered to order
and cause to be raised by the estates real and
personal subject to taxation according to law within said
city and county and to be collected in addition to the
ordinary ta1es yearly and every year. until the whole
amount OF the stock be paid, sum Of money sufficient
to pay the Inre1 est annually cecrring said stock.
rec 10 The pro Visions of the set entitled can act to
regulate the finances Of the city Of New York. passed
June 8th, 1872" which not repugnant TO or ncom-
apply TO said stock.
Sec II. This acs shall take effect Immediately.