Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1862-02-01
chaiha,n 4 aiiroaa Ordinance.


II We give below in full the ordinance adoptedb y,
Tie corsention On Tuesday last for constructing
'thb eoa6elds Raiiroad This is an important inea-
sub, especially in Che present crisis. The govern
nlant and the Railroads must have iron and coal,
AMI this Road will no doubt lead to active measures
in producing theuf.-- 80 ,3szs >-af''-.A
III ordinance an addition to, and amendment Of
Act of Ms General assembly, ratified the 10th
day Of February 1861, entitled "aD Act to IN.
Ptperatst the Chatham Raj krocd COMPANY" and
dp repeal an ct@pple,nentdl thereto, ratified the
;, f'rd day Of hebrna1gr lSGl. es.'f ~
Be IL ordained By the delegates 81 ths people
Nef F9rth- Carolina, in Contention 9ssenl6tsd and
ne hereby ordained by the,GuthOrityo Of the sans,
Thu section first of act of the General Assem-
bfyi ratified the fifteenth day of February, one thou
sanh eght hundred and sixty one, entitled ian act
Incorporating the Chatham Railroad Company, be
ami uded by inserting after the words " from the
Co$lfeds in the county os Chatham, through said
COUNTY" the words connect with the North Caro-
Int railroad at so to make the section read 10
colnce with the North Carolina railroad at Raleigh
orIsOme point of Raleigh not exceeding Twelve
miles," -
b. Belt further ordained, That the proviso in
section four of SAID act of the General Assembly, be
stricken out. - -..s asa. z .-.-a -
! I3. Be 1T further ordained That an act of the
General Assembly ratified on the twenty-third day
Of February, thousand eight hundred and sixty
ohe, entitled ian act supplemental to an act passed
al the present session of the General Assembly, en-
thled an act to incorporate the Chatham Railroad
Company" be and the same is hereby repealed and
| abrogated
| Be it further ordained, That all such solvent
corporations as may or shall subscribe to the CAPT.
! tdl stock of the said Chatham Railroad Con pany,
may make their bonds payable to the public Treas
uter of the State of North Carolina for the amount
II onlr
More; which said bonds to be signed by the
Presidents and under the seals respectively of said
corporations, and made for any sums not under five
hundred dollars EACH to bear interest at the rate of
six per cent per Gnnunu which interest is to be paid
seni-annually to-wit: the first Monday in January
add DULY, in each and every year, and the principal
Of said bonds to be made payable twenty years after
| dhte; and these bonds so authorized 10 be made,
nay be deposited with the Pubic Treasurer Of the
State who shall then issue and deliver to the
al corporations so subscribing and deposting their
bonds, as aforesaid the coupon bonds Of the State
of North Carolina, to the amount of their Suhscrip-
litons respectively and made for the sums of five
hundred and one thousand dollars, to bear interest
at the rate of six per cent per Gnnun, which inter
est is to be paid semi-annually the first Monday
lin January and July, in each and every year, and
| the PRINCIPAL of said bonds to be made payable
evenly years after date; Pr0Oidsd That said bonds
shall not exceed in the aggregate the sum OF eight
said Chatham Railroad Company shall execute and
deliver to the Governor of the State of North Caro-
| lima, mortgage under the seal of said company,
wherein and whereby, shall be conveyed to the Gov.
ernor and his in Office for the use and
benefit of the State all the estate, both real and per-
sonsl, belonging to said company, in any manner
pertaining to the same conditioned for the indemnify
ing and saving harmless the State of North Caro;ns
from the payment of The whole any part of the
bonds OF the State authorized by this ordinance to be
made by the Public Treasurer and delivered to the
several corporations subscribing aforesaid 10 the
capital stock of said Chatham Railroad Company
In addition 10 the deed of mortgage hereinbefore re
qured to be executed and delivered by the Chatham
Railroad Company, the State of North Carolina shall
by this ordinance have lien upon the estate, both
real and personal of said Company, which they may
now have, may hereafter acquire, to secure prin
cpal and interest of the bonds Of this State author
lied to be issued as aforesaid
5. Be it further ordained, That said bonds of thu
State so made Ey the Public Treasurer, shall be re
ceivcd by the said Chatham Railroad Company ii
payment of subscriptions made aforesaid by such
corporations to the capital stock of said Chatham
Railroad Company.
s. Be 1t further ordained, That said corporation:
so subscribing and depositing their bonds afore
said with the Treasurer of the State shall be allow
cd to redeem their bonds at any time before maturi
ty, in the currency of the State giving thirty days
notice to the Treasurer Of this State of their inten
ton so TO do. -
Z. Be 1t further ordained, That the said Railroad
may be constructed with terniRi at any point OF
points in the said Coalfelds region, that the Stock
holders in said Company may agree upon, with thu
appreciation of the Board of Internal improvements
/ s. BE it further ordained, That the corpor
ate authorities OF incorporated towns, subscribing
to the capital stock of said Chatham Railroad Com
pauy, in order to provide for the payment Of thel
subscriptions, and Of the principal and interest o
bonds for that purpose by them issued, shall have
authority to lay and collect taxes from all subjects
which under the charter Of said towns are taxable
8. BE it THrther ordained, That the solyency 0
such corporations may desire to subscribe to thu
capital stock of said Chatham Railroad Company
shall be judged of by the Board of Internal I'm
proyen.ents. -.... co.,. ..
10. Be 1t further ordained, That all laws ant
parts Of laws all acts parts of acts, inconsistent
with the provisions of this ordinance, hereby
repealed and abrogated
Passed and ratified in open Convention, the - a.
Of -, A. D. 1852. ..