The mountain Democrat., 1864-10-29

CHAP CCCXLL-Aa Act 70 authorize tAS Beard
Of fSapsrvtSors Sft.S Ccsasy Of e Dordae 70
addition to Ns c~e,,Ss Aerstca,rs ss,Sscri0sd BY
said CSeRtv, T. eAS Oapitsl Soce ef tAe Placer
JtIe 0ad S6oeaaeRt0 Ral1sv Rdtieodd CODpd-
n.y. and to pressde Jor MspaY'nenf Of tse Sd1's,
and other Osdksrs rSIdttA9 Aereto.
The people 9T ERs S0ts oT 0aiifornia. rtprsssntSd
IN Senate and ASseuSbly, do enact az JbIiOtCs:
Section l. i shalI be The S,rty Of the Board o.
eral Presidential eleetien Ia the year one thou
sand sAt hundred and sixty nr, "a sabaet - the
qualified electors Of said county the proposition for
one hundred thousand dollars, In addition 70 the
amount heretofore subscribed hy Sad county to the
capital stock Of the PiAeerville and Sacramsnto
Valley Railroad Company By which TO form rail-
road communication between the City Of Placer
vile, in said county. and the Town Of Folsom, In
said County Of sserament0.
See. 3. Il Ohail Be the duty Of Said Board ofe1
pervisors and shall cause . notice theyseE, and
notice Of the submission Of said proposition to the
electors Of said county, to be published for space
Of Al least nftesn daye prior TO said election In
some newspaper printed and published In said eoun-
ton shal Be held, the proposition TO Be su6mitted
to said electors and the manner Of voting thereon
Said Board Of SupeTViScTa shal also cause ballots
to be prepared and circulated At the several pre-
cnetS in said oouutg prioE to sad electOa wth the
words Additional SnbscTiption Of Ope Hundred
Thousand Dollars to the capital stock OF the Pla-
cerville and Sacramento Valley Railroad ComPa:
n.y." printed thereon. Every ballot in favor Of said
proposition shan have the word " Yes" written or
printed thereon; and every ballot against said pro-
position shall have the word " Mo- written or
See. 5. 1t shall be the duty Of the officers Of aid
election, at each and all Of the precincts in said
county, TO make correct count of all the votes cast
on said proposition, aud to make correct return
Of said vote, certified by their oathS to the Clerk
of the Board Of Supervisors Of said county within
Ave days after the said election; and it all be the
duty Of the Board OF Supervisors, at their hrst
| meeting In the succeeding said election,
Sec. 4 II fat said election majority Of the voters
Of said county, voting upon said proposition shall
vote Yes" then, and in that event, the said Board
of supervisors are hereby authorized and directed
eft, to subscribe said additional one hundred thou
sand d"arS to the capital stOck Of the said Placer
| vile and Sacramento Valley RailVoad Company, and
pledge the faith Of the county for the payment Of
the same; provided that said subscription shall be
made BY said pOard Of Supervisor and accepted by
| said PlAcerViile and Sacramento Valley Railroad
Company, rayable In the bonds Of said county, and
not Otherwise to be issued a. hereinafter provided
aud 70 be received by said railroad company in pay
ment Of said subscription at par dollar for dollar.
| Sec. 5. Said subscriptions shall be made by mem
Der Of said Board Of SupervisOrS, who shall be ap
PORTED by order Of said Board for that purpose.
| Said appointment shall he made immediately after
the votes cast at said election shall have been can
vassed AS provided in section three of this Act and
IL bnau Oe tne Quty OF tue MEMBER 50 appointed to
make said subscription Immediately thereafter.
| Sec. 8. The saId Board of Supervisors, at such
time thereafter aS the payment Of said ption
shall be required to be made by the Directors o!
said railroad company. shall, By an order entered
| upon their journal, direct the Board of Railroad
Commissioners Of said county, which Board shall
be composed Of the Chairman VI the Board Of Su-
peFvisors, the Auditor and Treasurer Of said coun
ty, to issue bonds IN the sum Of thousand dol
lars each for the full amount Of said subsc
as Aforesaid required TO be paid BY said Board oi
Directors Of said railroad company; p. divided tina.
said Board OF Supervisors shall not be pelled Al
aEy one time to pay n larger inst Iallnent than ter
per cent Of said subscription, and It s hereby de-
| clared and made optional with them to pay the
whole OF said subscription, at one time or In any
lesser installments, OF not less than per cent
each month. until said subscription is ali paid -
Said bonds shall bear interest at the rate of ten ne
cent per hnnum from the date Of the issuance and
the principal thereof shall be made payable on !
day certain TO he specified in said bonds, which
shall not be less than fteen more than tive nty
years from their date, the Boa rd of Supervisors
may, by an order entered oil their journal, direct
and shall be payable at the ofice or the TREASURED
Of eaid county. The interest on said bonds shal
be due and payable semi annually 90 long as the
same are outstanding and unpaid and shall be made
pay able on day certain, 20 he specified in coupon.
attached to said bonds At the Office Of said Treas
uTer, AS before provided for tn" payne Mt of the
principal Of said bonds; said bonds shall be signed
BY the Chairman Of said Board Of Supervisors. the
Auditor, and Treasurer OF said county, as such Of
hcers and ex-oficIo Railroad CommisLi one RS and
when so signed shall be presented by the Chairman
of said Board of Supervisors to the Clerk Of said
county, who shall counterSign the came az sucl
Clerk, in the presence of quorum Of said Boa rd O
Supervisors, at a meeting thereof, and il shall h,
the duty Of said Board Of Supervisors 70 cause thS
fact OF such cOunterSgning Of said bonds to be en-
tered upon their JOURNAL together with the number
date, and amount Of each bond count ersigued b,
said Clerk and, upon the cOuntersigninR Of sale
bonds, said Board Of Supervisors shall cause The
seal Of said county to be aiix xed to each bond ant
appoint one Of their number to deliver said bond,
to the Secretary Of the said Placervlle and Sacra
mento Valley Railroad Company, whose duty il
shall be TO give receirt therefor, specifying tn,
number, date and amount of each bond 90 deliver
ed, which receipt shall be delivered to the Clerk
said county. and BY him fled in his ONCE. Sal,
bonds shall be drawn payable 20 the order Of the
Placerville a. d Sacramento Valley Railroad Com
pany and shall be made pay able both pri nc pal
interest, in United States coin, and may be trans
| ferTed BY said company, by q writteH-0r printed
transfer upon the back thereof signed by the Pres
said company.
Sec, I. CauponS. for The inse.ess.shall be nstseh
ed to each Of said bonde in such manner that tht
saTe may be removed without mutiIation 10 N,
bond and each Of said coupons shall bs signed UJ
said County Treasurer. When the County Treas.
urer shall pay any interest upon any of the bonts
issued under tue provisions OF this Act. it shall be
his duty IL detach the coupons for the interest
paid, and deliver the same to the Clerk of said
county, taking his receipt there for; and it shall be-
the duty OF SAID Clerk TO file said coupons in hi,
oLces anu MAKE report thereOf TO the said Boa I'd
| OF Supervisors at their next meeting.
| Sec y. 1t shall be the duty Of the said Board OF
supervisors at the same time other county taxes
are levied by them in each year. to levy which
| ehal be styled the d" Railroad Interest Tax," suf
hcieut 70 raise the Of interest required Il
be paid each year on the bonds issued under the
provisions Of this Act, and a. the same time othel
county taxes are levied BY them in the year eight
cen hundred and sixty six, and for every yeaI
thereafter, until all the bonds issued under thi,
Act shall have been paid and liquidated. The said
Board OF Supervlsors should it be necessary, shall
levy tax rot exceeding twelve and half cents on
the one hundred dollars worth Of taxable property
within said county, for the purpose of raising
| Fund for the payment OF said bonds, 90 be tyIed
the I" Railroad Fund" And the said Railroad In
terest Tax and the said Railroad Fund provided fol-
by this Act shall be deemed and taken as a mart O,
and additional to the Railroad Fund and iheRaiI.
road Interest Tax heretofore provided for in an
Act entitled an Act to authorize the Board of Su-
perviSors Of the County of FL Dorado to subsc
two hundred thousand dollars 10 the capital stoc
Of the Placerville and Sacramento Valley Railroad
Company, and to provide for the payment Of the
same, and other matters relating thereto, approved
| March tweuty-eighth, eighteen hundred and sixty
three. Said taxes shal be levied and collected in
the same manner a. general taxes for county pur-
poees, and ~hen collected shall be paid the eoun-
~ Treasurer, who ehAll for and deiN er the
same over to said Railroad Commissioners, whose
duty 1t shall be to apply the same as follows:
FrSt-The Railroad Interest Tax, to the pay
ment Of the interest falling due on said bonds,
| SecOnd-The Railroad Fund, TO the redenption
Of said bonds as hereinafter provided.
Sec. Q. II there shall be collected 90 such portion
of said railroad interest tax in any one year sum
greater than is required to pay the annual interest
on the bonds issued under the provisions of this
Act, it shall be the duty of the said Railroad Com
miesioners to transfer such surplus to the said
Railroad Fund.
Sec. 10. Il shall be the duty OF said Railroad
Commissioners to make arrangements for the paw
ment OF the interest said bonds at least thiriy
days before the faS due and in the event said
Interest Fund shall be insufficient to meet such
payment the said Board Of Supervisor shall hY