The Tiffin tribune. [volume] (Tiffin, Ohio) 1848-1859, 1859-02-18

ACT

CNo. AN ACT.
To authorize tho sale fany and m ofths Shares or stoch
held by the state, On tne Turnpike Companies Of his
state, aad umeud Section One Of az act in relation
The daies Of the Commilionefs Of ne snkihf Fund.-
passed May 4, lass.
Section l. De it enacted by ths Cenanral Assembly OF
the Slate Of Ohio, That section of The ao; 10 which this
act suppimentay and amendaoiyfpe 40 amended as 10
That the comm.tonors Of the sinking fuad arc hereby
authorized end when opportunity ocouts they dreo
ted to exchange for cehouea OF The six per cent stock Of
The funded debt Of this state TO sell othetwse dispose
Of for money any and al Of The shares o stock eldby the
slate u The railroad compauiot and cana companies
Of this stae Provided that such shares Of stock, shall 10
be- sold otherwise dispose Of except upon cash
payment there pr nnd In ahn any such shaos be
sold eSchanged otherwise 81 posed Of less than te
actual cash value othe should such commits
be unable exchange such stocks for certificate ofhe
ded debt ofte Syte, they mny, suGh time they deem
proper advertise that proposals. will be received by the nj
AZ uei Office IN Columhns orhe nurohae Of any al Of
said siooks tueh notice shall be published in such newpa
pefs they may direct and shall be given At least ninety
posa shall be considered without 10 the number Of
shares h for and the sale shall be awarded to the highest
'hau DO construed 70 compel The stalking nd comu salon
20 exchange, sell, oihofwse dispose Of any Of said
stocks a. less than he vnlue thereof unless their
opinion the Interest Of the state will be promoted thereby
Sec. g. The commissioners Of tho sinking fund are
herhy ouhorzed and direuled 90 se and transfer any
and an Of the shares OF stock held hy tho In any
pike company OF the stlte. They sha Immediately after
the p1slg ofth act averlc All the shares OF stock held
by tho state In any Turnpike company 10 be sold nj auction
II
than hy shares each some pubic and convc.
MEN; place the line Of the road ofsad company by gv
ing at least thirty days notice OF the time und place of the
sale by posters At the gate gaos thereon aud
some nowpaper Of general circulation Ia The county
counties through which said road pasesi Provided that
nothing In this section contained shall be construed
pei tho sinking mud commissions 10 sell dispose o.
any ofsad stocks for less than their cash vauc ho
| estimated by said sinking fund commissioners.
See g. Any sale Of shores Of stock made underhe pro-
visions oftnif act shall be conducted an agent appointed
by the Governor hut tho approval Of least Of te
nisioneri shahe necessary its ohGrmation The
purascror purchasers Of such shares Of stock shall be re-
qurad pay one-trd OF the purchase money down and
the balance IN two equal annual payments with six pei
cent ntoro hu be madc hy said commis
| sioners until the same u paid fof w full.
Sec. T. The shares OF stock owned by the Sate IN
any tWnpke company shall not ente the person OF per
whom the may be transferred by yrue Of th
act, at the annual oeron or director now provij
ed fr In the charter Of said conpany but the person
persons 70 whom such shares OF elock may be transferred
are hereby authorized to the time and place
with the and then and there elect
ect 70 the regulations that goycra the original
eiasiion for directors, the number Of drse
sec 5. Section one Of the above roeited not /. bo,eb,
repealed wv " ''
Soc. 0. This to take effect from and aler,,pas,age
WILLIAM WOODS
f Speaker Of the House Of Representntiye yet
MARTIN WELKER,
r,o % ,,-o President OF the Senate