The Placer herald. [volume] (Auburn, Placer County, Calif.) 1855-1991, 1863-03-28
THE RAILROAD BILL.

lew a specal tax upon all the real and personal,
property within said county subject 10 taxation
for the purpose of meeting the whole amount OF
interest to become due within said year upon said
Comfy bonds. In making said levy said board
shall designate the number OF cents on each one
hundred dollars of said taxable property which
shall be so taxed for said purpose, and the tax SO
levied shall be known and designated as the hall
Road Tax
SEC. II. The tax so levied shall be assessed
and collected at the same time, by the the same
officers and in the same manner as other county
taxes are levied and collected, for which sad OIL
fcers and the County Treasurer, for dsburse-
ments. shall receive the same rate OF compensa-
ton as is allowed by law for the collection and
disbursement of other county taxes. The tax
collector upon the collection of said tax shall
give to each tax payer a separate receipt which
Shall show upon its face the amount OF rail road
tax so paid by him. These receipts shall lie
printed and all similar in form; differing only in
name date and amount.
SEC 49, The County Treasurer shall separate
the amount collected on rail road tax from other
moneys in the Treasury and shall keep the same
in Il separate fund to be called the Rail Road
Fund. of which fund he shall keep a separate ac-
count.
SEC. H. The Board Of Supervisors shall pro-
vide for the prompt payment of the interest on
said county bonds. as the same falls due. and for
this purpose they shall, as nearly as possible at
the time Of making the annual levy, estimate the
per centage of tax necessary to be levied to meet
said interest for the next succeeding year, ana
shall fix the levy at said amount Should there
for nnv reason be a deficiency in the Rail Fund
derived from said tax for the payment OF any IN
tcrcst Us it falls due it shall be the duty of said
Board to provide for the payment of said inter
est out of the General Fund OF said County, and
in such case they shall in their neXtlcvy provide
n sufficient fund to paw the accruing annual in
tnrcst. and also. to reimburse the General Fund
with the amount so taken from the same to pay
said interest
cEc IL In addition TO the moneys arising
from The Roil Road Tax aforesaid the County
Treasurer shall also Mace in said Fund all moneys
Maid into the Treasury Of said county by said
Rail Road Comnonv. for interest or principal
mon tho bonds of said company held by said
cnnntv. and said money shall he used bv the said
Board of Supervisors for the pavment of interest
on suid Countv Bonds in like manner as the mo-
nov raised bv said Rail Road Tax. Whenever
the amount Maid into said Fund bv the said Rail
Road Companv shall coal the amount of interest
to f,u dneunon the said Comfy Bonds for the
cnsnino wear. no Rail Road Tax shall he levied
hy said foYrd
&rc lG Atthn ovnirotion Of five vcorsfron tho
time Of issrino said comfy bonds The said hoard
of Snnervisors shall nroyide = sinking Fund for
tho nnrnosn Of secnrinn the nnvment of the
nrinninaI Of soid Lond nf tblir niatnrtv. and for
this nnrnoen thnv shall mnosn .nrb sncciol tov ne
thov n,,t, doom necoecarv ana tbo rnnnnve orsinc
thoororn rnbor with III tba n,onovs rocnivad
from, said R5il Road Comnanv NOT onnliod to
novmnnt Of Interest shall hn a,,nlind toward the
rnGemntion or said bonds in .Irh nonneros said
BOARD NAV deem most eyDedicnt for the interests
Of s3id c0untv
Cpc II rbo in towns amman +l,o p ilrool
po,,J- ,ri,,-r w. IA r,,r,,,,, e. ttLa Conntu Inv
inr the nnriod ol thron ynnTTs from III" Gotn Of
IA bonds Yb,Il NOT nnti1 tbn oyni,otion Of S,id
thrrn years be ronnir,d lo ha maid in money TO
the comfy nor shan anv nroceedinos for itsiorc-
4
comfy y
Src Is Attbn timo ,vitbi, tbo eoidnoriod or
three wears when the interest mon fhn hands
oivcn Inv thc Rail Road Comnanvfo tho Comfy
Shall fIil dne the Rail Road Comn9nvNb,ll issne
a number of shares of fnll Maid stock of said
oomn,nv canal in volnn nj noi to tbn 'omonnt Of
said interest. and shall deposit said stock win
the Treasurer of said county for his disbursement
as hereinntternroyided
SEC. 10. Upon the presentation and delivery to
said County Treasurer of one or onv nnmbnr of
fine Rail Rad Tnx Rnceints montionsdin Snction
rlnvnn bvanv hoIdor If tbn san,o Sho,rinn tI''
nnvmrnt Inv tIe holdnr Of s,iG rocoints o. he
stiruors. of one hundred do1lare nI tbo Raj
Road Tax herein proyided for tho said Tre,o,,rnI.
shall deliver ia sncb nnrson one sboroor tho r,Ii
paid stock denositnd in him bv eaiI oomn,nv
ana sod nnrenn cb,ll ho tbc n,.no,, lor = w. >
il t v rni1,ts sh,li 10 W. r?, ne
mont and NAV Inc nrnsontnd ornvob0n4o i', i,,,,
indors.e ar if indnrscd in Lln,,l, bv "a &C., 49,!
Of 10 s,,,,o MIA Tr i,, ~ tno 'e'ti q u,
paid stock for said tax receipts at thr raa Of ono
share of stock for each one hnndred doilnrsoft ~
rni,,t en- nn sid e. Hoi .'N
snntnd for nycfanoo If arv hoIGo h'
TO fhe Treasurer receints monntin 70
onr hundred dolIars Inf not W. IMAM
uregatc to an even number of hundrcdsof dnll,rs
The Treasurer shall issun shoro. ~ Ston1 co. a.
AVIAN hnnLrds and ,o, t.; u 'Uch iol t,ie
(r,ct;on1l sum Surh rncaints .ho 49," 10 '''e
bic and cxchangcablef for Stock in tbasnnan
as the Rail Road Tax Rcceinfs ''''''' I'll '''n'r
$50. 30. So soon ns thn nav Collootor ~,
have made his returns in each wear. the Comfy ,tl
Treasurer shall estimate whether the amount Of
RiI PoaI nav cnIInntod rnr hih ID imo"i,t VI
receints have been oiycn oycrnds tbn nn '
thn fi nnid stock which hns hoo p" t"iue -, 81
hin, Iv fhnRaii P,,d m"" WIN
th't Iorn hn sncI LILY nI ~ .Hc event
way Nv sum 'AC'HH' ne Shall nollly SAID