Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1859-04-15
Cams Of Ohio.
Published by Authority.
AN ACT

mo 81 AN ACT
To the sale OF any and all Of the Shares OF Stock
held the state ie ne T9[aplse 81 ComPaGleS q ms
the duties Of 'he Commissioner OF tho Sinking Fund,
Section Be Il enacted BY the General Assembly Of the
State Of Ohio That section on5 OF e net to winch TINS ac
is supplementary and amendatOy be SO Amended as
T6at tbe commission rs OF the sinking fund are hereby
authorized and when opportunity occurs they arc d
reced exchange certificates OF the per cent stock
qf the funded debt OF this state or to sell or Otherwise
held by the State any Of the railroad companies and ca
nal companesOf this State Provided that such shares of
stock shall IN no case be sold, or oherwle disposed Of
less than the actual cash value Of the same Should
such be unable exchan-e SAID Tor
certificates of the funded debt OF the snte they may at
ais will be received by them at their office in Columbus
9r the purchase Of any OF al Oh sall sue ce
ali be given at least ninety days before the time fixed
for opening proposals Proposals shall be considered
without pect 10 the number OF shares bid r aud the
sne shall be awarded to the highest bdde Provided that
nothing in this section contained shall be construed to com
pei the sinking und commissioners 70 e1hange sell, or
otherwise dispose of of said stocks less than the par
| State will be promoted thereby
authorized and direc,ed 70 sell a. transfer, any aud All
OF the shares Of stock held by the state n any turnpike
passage Of this advertise all the shares Of stock held
S Rs Ssesf H st bddel ~ lots OF not less than ten SHARES
each nor more than nifty shares each g some public and
by giving al least thirty days notice Of the time and place
and in some 2esoaper Of genera circulation IN the county
through which SAID road passes Provided that
oOmpel the sinking fund commissioners to sell dispose
any stocks for less than their fair cash value
to be estimated by said sinking fluid commissioners.
Sec Any sale OF shares OF stock made under the pro-
of this act shall be conducted by agent appoint
cd by the Governor but the approval OF al least two of the
commissioners shall be necessary to its confirm ti0n The
or purchasers Of shares of stock shall
required pay oneiTd of he purchase money down and
the balance IN two equal annual payments with per
interest; but transfer snail be made by said
missioners until the same is paid for IN fun.
Sec a. The shares of stock owned ~ tho tate in
any turnpike company shall not ente the pssn per-
whom the may be transferred virtue of this
tn
ded or in the charter Of sal company but tho
whom such shares Of stock be transferred
are hereby authorized meet at the same time and place
with the present stockholders and then and there elect,
subject the regulations that govern the original
stockholders in their election for directors the number of
directors that the Governor is now required 10 appoint in
said b iard,
Sec O. Section Of the above reoited act is hereby
repealed
Sec g. This act to take effect from and after its passage
WILLIAM b WOODS,
Speaker Of the House of Representatives.
MARTIN WELKERt
President OF the Senate.
January 70