The mountain Democrat., 1863-04-11
m WoUNTaN- DEKOCRAT.

~ I,nSe Soak of ~ Pfacsrvtus and SGc-G-
ssSSso Ta11V Rsitreed Cc.aRoav, and % pro
z VIds J6r AS petNe1e y ~ saH's' ana 0l'@SS
;.GSs;rS rsIGtts6 tAsrsfo.
fAppFov6a March 81, 1851
"a. psoDt1 sTtAs SIsss QfOaItforaiG, appreciated
~ GSnafs Gad AessvSStys do s"aot a. JOAO'0S'
S.c,,os i. II shall be the duty Of the Com.
non COuneil Of the City Of PiaceFvi!le, at the
eeoaraI elseiion for city officers TO- be held IN
tbe vear one th0usaud eight hundred and sixty.
tSrGs, 10 Submit 70 the qualified electors of said
city 80 EeupOs1seS ~ ~ =. OSeosI' y,
DOLLAR 10 ne capital stuck Of the Piacerville
and SseramentO Valley Railroad Company, by
-bich a Failroad communication shall be
Sor1naA hstweeu the said CITY Of Placerville and
he esun e ROlaap. in Sacramento County.
SEC, 3. Il shall be the duty Of the said Com
mOn Cancel to cause . notice OF the submits
aiou Of said proposition n be published, for .
suaee Of at least Afleen days prior to sad eIec.
Ton. IN some newspaper printed aud published
h aid city: said notice shall atSte the propo.
~i,ioa 10 Be submitted In said electOrs. and the
time sud manner OF voting thereon. The said
(;OmaOn Council shall slsO cause ballots Ia be
oraOnFvd end circulated in the several wards
81 the said city, prior n said elections. with
the cords, ''s3ubacriptiOn OTOne hundred thOus-
and dollars y the capital stuck Of the Placer
~iIle and Sacramento Villey Railroad Com
pany" printed thereon. Every ballot in favor
Of said prOpositfDD, shall have the words y es y
written or printed therein, and every ballot
against said proposition, shall have the word
-.NO" written or printed thereon.
Sec 3. Il shall be the duty Of the officers Of
aaid sleetiOn, ct the several wards iu said city.
% make a eOrrect c0unt ~ ell the votes cast an
aaiA eFuSositiun at their respective wards. and
IDclude the came In their returns 10 the Com
nos Caaual Of said city; and it shall be the
duty ofsaiA CO@@oW Cluncil, At the same time
IL e. r. a
cav gEseanVassed By them, to count said Votes,
esd declare the result thereof.
Dec. L II, ct said election, . majority of the
electors Of said city voting upon said prnpOSi-
ton shah vote 81 Yes" g" t6eu, and in that event,
the sAid COmmon Council are hereby Snthnriz-
ed and directed. In the name and fur the bene-
at and use Oe said ciev, 60 subscribe the aum ot
one hundred thousand dollars 10 tie capital
stock of the said PlAcerville and Sacrament"
Vallsy Railroad Company, and pledge the filth
Of the city for the payment Of the same; pT'-
viAoA, that aaid subscription shalt be made bv
aaid Common Council, and accepted bV said
Placsgville aod Sacramento Valley Railroad
COmPasy, payable in the bonds 0f said ciiy.
aad cot Otherwise, 70 be issued as hevei0 after
provided, and 70 be received by said RAiIr" d
COmpany, in payment Of said subscription, At
pr, dollar for dollar.
Sec. s. Said Subscription shall be made by
Q OOmmittso OftWO members OF Gsid CUnIm
Council, Who shall be appointed for that pur-
pose BY a. order Of said Common Council, en-
tered ap00 their journal, Said appointment
shall be made Immediately after the votes cast
at said election shall have been csnVasscd. as
provided 10 section three of this Act and il
shall b the duty Of the committee sORppointed
% 1ake said subscription Immediately there
after.
Sec. & The said Common Council. from
time n time. - tie payment II said subscrip-
.ti0a Ghall Be required 70 be made by the Board
.of Directors Of said railroad cOmpany, not ex-
.eesding. however. at any ono time. "a install
meat Of teu per cent upon the amOnnt of said
subscription, In the same manner and upon
the same terms as other stockholders. shall. by
IN order entEred upon their journal direct the
Mayor Of said city, the Presldeni Of said Conn
ell, cad The Treasurer Of said city, who, E,r
that purpose, and their successors in office,
oAau Constitute . Board uf Commissioners, to
Ao styled the Railroad Commissioners" Of
said city. - such Railroad Commissioners, to
;iaSue bonds for the amount Hf such insia alment,
IN SENS Of Eve hundred and me thousand dol.
AArs, 10 eQuAl proportions. SAID bonds shall
beaR interest at the rate Of ten per cent. per
Uum, from the date Of their issue, and the prn-
eipal thereof shall be made payable on n day
eeTIain, n be specified in said bonds, which
shall nOS be leas than twelve, nor more than
Aneea years from their date, as the said Com
mOn Council mas by an order entered upon
06ce Of the Treasurer af said CITY. The inter.
este upon said bonds shall be due and pa y able
oOmiAnnuallV, 90 long as the same are out
StAnding and unpaid, and shall be made pAya-
BE 90 day certain, In be specified in coupons
aaGaehed 70 SAID bonds. at the office of sa,d
fPOasareT, % before provided for the payment
u he principal Of said bonds. SAID bonds
ehaii be signed BY the Mayor Of said city, the
rr0sldent VI aaid Common Council, aud the
YFNasarer Of said city. aS aseb ohicerA AMI eX-
O0lcia RAilrnAd Commissioners. and when -
SigDed, shall be presented By said Mayor tO tie
CleFk Of said Common Council, WIN shall
coonlersigu the same, as such Clerk. IN the
pVeeence OF . quorum Of the said Common
CVanciI, at . meeting thereof; anC it shall be
che duty Of said Common Council to cause the
fact Of such cO0niersigniug Of said bonds To be
eDteFcd upon their journal, together wIIh the
-numbef. date, and amount OF each bond su
~eouutersigned by saId Clerk and upon the
.oOanlersiKning Of said bnnds, said Common
COaneil Ahall cause tue seal of said city tn b.
-a@sed 70 each bond, aud appoint cOm mmittee
-OftvO 0i their nOn6er tO deliver SAID bonds
70 he Secretary nf the said PaceryIile and
.SacFameutO Valley Railroad Company, whose
-daty II shall be u give u receipt therefor, spec
flying the number, date, and amount at each
'6Oad % delivered, which receipt shall be de
hvered By said committee To the Clerk t.f said
Common Council, and by him filed in his ut
ice. Said bonds shall be drawn PAYABLE To The
order OF the PlAeerViIle aud Sacramento Valley
RailrOod Company, aud may be Transferred by
Sasd company, by n written or printed transfer
upou the back thereof signed bv the President
anG Secretary "f The B,4rd "f Directors I"
0aid company. Said bonds, both principal and
interest, shAil be made ayable in United State:
coin.
Sec. T. Coupons for the interest shall be at.
4aeAed TO each Of said bonds, ~ that the same
may be removed without mutatlon to the
bond; and each Of said coupons shall be signed
By said Railroad Commissioners. When Iht
City Treasurer shall pay any interest upon Hny
Of The bonds issued under the provisions o
this Act, It shall be his duty TO detach tn.
coupons for the interest so paid, and deliver
the same 70 the Clerk Of the Common Council
taking bis receipt therefor; and il shall be the
duty Of said Clerk 70 file said coupons in hi,
A&ce. eAf YaEe report thereof To the sale
E0@n00 C0aaeA al their Bex1 meeting
Sac. 8. II shall be the duty oF the said Com
mon Council, at the same time other city take,
are levied by them in each wear, TO levy = tax
70 Be styled the Railroad Interest Tax" sui
4cieOt % raise the anount 0i interest required
70 be paid each year on the bonds issued uude
The provisions Of this Act; aud 10 the yea
eighteen hundred and aixty-six, and fur ever,
year thereafter, until all the bonds issued un
der the provision Of this act shall have beer
paid and liQuIdated, the said COmmou C0unci
At the same time other city taxes are levied
sheald it become necessary, shall levy n tax, no
'sxesedlng twenty Eve cents on theOne hundret
dollars worth Of taxable property within sai'
city, SOr the purpose Of raising Fund for tn
payment Of said bonds. to be styled the Rail
foAd fund." Said taxes shall be levied An,
collected in the same manner as other cit,
taxss, end when collected shall be paid u tn
City Treasurer, who shall account for and de
,1lS6P t1e ysmp pysH to Baid Railroad O0mmis
Siodsiss whose 4gIy Il shah be to apply tn
same e Elll0Ws; '''
:. RiEsa-fhe Railroad Interest Tax, to th
pAyesat of GhG thAOtest' falling due on SAT-
HbAt,h.' - -