The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-03-21
Kew York Canals.

Senate and Assembly, do enact as follows
Section l. The Commissioners of the Canal Funi snal
borrow the credit Of this State in such amounts,
from time 10 time, as shall be required 70 pay Tue
penses that may be incurred under tho provisions OF h
act, not exceeding, in the whole, s22oJooo pay
able at such time times as they may prescroe WITHIN
eighteen years from the time of such oan at ra'e OF
interest not exceeding six per cent per annum
quarterly such days and at such places a. sne ssa
Commissioners shall direct All the existing provision
Of law in relation 70 loans Of money for tins sa,e o ane
Commsso of the Canal Fund.- and in relation to GER
cates of stocks issued under the direction OF the sau
Commissioners shall apply to the loan hereby author
iyed and to the certncates tnercIor issueu W ou
See The sum of So $50 900 is hereby appropriated.
payable out of the surplus of the canals,
there be any that shall during the present fiscal
year. after paying the expenses OF collection supern
tendence and repairs of canals and the sums 70
be appropriated the first and second sections OF the
seventh article of the constitution and the sums here
matter appropriated to pay the interest and
made under this act, and the sum OF s2oo, ooo TO
delray the necessary expense OF government,
ana TO the first secton Of this act to be applied to
the enlargement Of the Erie the Oswego and the Cayya
and Seneca canals, and in the completion lapon the
plans heretofore adopted) Of the Genesee Valley and
Black River canals Such appropriation shall be applied
as foowsS 1858 900 thereof to the Erie Canal enlarge
nent and such works connected Herewith as shall be
directed by the Canal Board 200 thereof for the
enlargement of the Oswego canal $O2 600 Thereon Tor
the enforcement of the Cayuga and seneca c ni
$4,000 thereof for the completion of the Black River
canal sec thereof for the completion OF the Genesee
Valley canal The Erie, the Oswego, and the Cayn;a
mansions Of seventy feet in width upon the surface oy
seven feet in depth except where in the opinion OF the
Canal Board greater dimensions may ~ ~
navigation and for the construction and OF
such basins may be deemed necessary by the Canal
Poard and also except in localities where due regard
to economy the interests Of the State require that
such specified width should in the opinion of the Canal
Board, be varied.
sec3 The said Commissioners of the Canal Fund
shall also borrow the credit Of this State the sum OF
sltoo,ooo payable at any time they, may prescribe
rLt frnr, Mt "A
of interest not exceeding six per cent per annum
payable quarterly such days and at such places as
the said commissioners shall direct All the existing
provisions of law relation TO loans Of money FOR the
State by the Commissioners Of the Canal Fund and in
relation to certificates Of stock issued under the drec
ton Of the said commissioners shall apply to the loan
hereby authorized and to the certificates therefor issued
by the said commissioners. .
Sec A. The money borrowed under the last preceding
section of this act is hereby appropriated to refund to
the holders of the canal certificates issued I'M
der the provisions chapter 4s5 of the laws Of the
1881 the amount receive the treasury thereon but
no interest after the first day OF July 1893,
shall be paid on such certificates
Sec After paying the expenses or collection super
and repairs of the canals and the sums di-
be appropriated by the first and second sections
Of article seventh of the constitution, there is hereby
appropriated be paid out OF the surplus OF the
canals which shall during the present fiscal year.
the Of one hundred and thousand i've hundred
dollars or 70 much thereof shall be necessary to pay
the interest for the current the debt that shall
be contracted pursuant TO the provisions Of this act and
the sum OF hundred and fifty five thousand eight
hundred and twenty dollars and thirty cents to
constitute sinking fund to extinguish the principal OF
the sad debt which last mentioned and the interest
thereon as received shall be invested by the commits
Of the canal fund.- in the manner provided by law
in respect to the investment OF the surplus revenues OF
the canal fund.-
Sec g. The premiums received any loans made by
the commissioners Of the canal fund pursuant to the
cent amendment Of the constitution Tor the completion
of the nails shall be invested and the interest received
on such investments shall also be invested by the COM
missioner Of the canal fund, in The same manner now
provided by law respect surplus revenue OF the
canal fund.- and shall be applied at the expiration Of four
years from the passage Of this act to the completion Of
the canals of this State, in Gaze the appropriations
authorized by the said amendment should be insufficient
for that purpose.
Sec practicable after the passage of this
act and before any contracts for the enlargement and
of the said canals shall be made the State En-
gneer and Surveyor shall perform and execute the duties
prescribed by the sixth section of chapter 37 of the laws
of 1850 The Canal Board shall examine the maps plans
specifications and estimates furnished by the state En-
gincer and Surveyor, and shall power to alter
modify the same and finally decide upon the maps ii Ms
locations ard specifications of the work to be es which
said work for tho enlargement OF the Erie, the Oswego
Cayuga and Seneca canals and the completion OF the
Black River and Cenessee Valley canals shall be put an
contract and progress to completion, to bring
the said improvements into ut the same tm
I Sec g. The work to be done and the materials to be
furnished according TO the plans maps, Specifications
contracted for In behalf of the State by board consist
ing OF the Canal Commissioners the Comptroller and the
Stale Engineer and Surveyor at meetings to be held
follows For work and materials for the eastern d-
vision of tie Erie canal Mt Utica for work and mate
rial for the middle division Of the said canal at SYRIA
cuse work and materials for the western division
of the said canal Mt Lockport Rochester or Buffalo,
work and materials for the Oswego canal at Fulton
Oswego county for work and materials for the Gene
Valley canal at Portage; for work and materials
for the Black River canal at Lowvle Lewis county and
for work and materials for the Cayuga and Seneca
canal at Seneca Falls. Public notice OF the times Of
meeting the said places respectively for the reception
of sealed proposals for entering into contracts for any
the said work shall be published for three weeks
sively in the State paper and in such pub
lshed in the vicinity of the work to be done the
tracing board shall direct and such contracting board
the purposes Of this act shall have the powers
and perform the duties and be subject to oil the
conditions and restrictions provided by law previous to
July TO- 1851 in respect to contracts by the Canal Com
mssioners for work materials upon the canals of this
State, unless otherwise provided by this act.
Sec. o. Before any work shall be contracted for, the
matters specified in the ninth section of chapter 377 Of
the laws OF the year 1850 shall be asceraned under the
direction Of tic State Engineer and Surveyor the said
section shall be in all respects applicable 10 the propo
authorized by this act.
Sec TO- In addition TO the provisions of law existing
previous TO TIE 10Th day of july 1884, and for the pur
pose of rendering them more eiiectual all proposals or
contracts. for to be done materials to be
herein authorized shall be subjec. to the following
l. All such proposals. shall be FOR certain to
the price to be paid Tor each and every kind Of work that
can in Its nature be specified and for the quality and
4 quantity of every material 10 be furnished.
Every proposal shall be accompanied by affidavit
endorsed thereon of each person uniting in such propo-
sal that hc is not directly Indirectly interested in
other proposal for the same work materials any
part OF the same; that he has agreement under
standing with any other person 10 become interested in
any other proposal contract for the work
terids or any part thereof and that other person
than such as shall be named in the proposal is interested
in any contract that may be made in pursuance Of such
PROPOSAL
oproposal for work or material authorized by this
act shall be received considered unless the
be accompanied with bond to the people OF this state
in such penalty shsl be required by the
boarc not less than twenty than fifty per cent
OF ne engineers estimate Ct the cost of he work pro-
posed t. be done and the 'osterals propocl to be far
Dsled the amount Of which penalty shall be stated the
advertisement for such work and eral nd which bond
shall be signed by the pary making such proposal and
two es onsblc surcties with such evidence OF their
sIon ,bty MS the contracting board shall require AID
Which snretes shn seseray Justify In equal 70
such poraly ard which bond shall be conditioned tnat
il The contract shall he awarded TO the party making
p'cIo,al that he they WILL withi ten days after
such award en- cr into contract for the performance of
the work and furnishing the materials referred to in such
prtpoal Upon the terms prescribed by the contract.
irr board, and also the farther condition that the
tractor or contractors, after making such contract
aff ,pl nj will with fba