Lamoille newsdealer. [volume] (Hyde Park, Vt.) 1860-1877, 1867-11-27

AN ACT TO ENABLE THE TOWNS THERE
IN NAMED TO AID IN THE CONsTRUC-
OF THE ELANOILLE VALLEY RAILROAD.

seanby Of the State Of psrmont:
Sec. /. The towns of st. Johnsbury,
Danville, Walden and Hardwick, in the
county of Caledonia, Cabot and Wood
bury in the county of Washington, Green's
boro. Craftsbury and Albany, in the coun-
ty of Orleans, Wolcott, Elmore, Morris
town, Hyde Park, Stowe, Eden, john
son, Waterville Bclvidere and Cambridge.
in the county Of Lamoille, Bakersfield.
Fletcher, Fairfax, Fairfield, Sheldon,
Highgate and Swanton, in the county Of
Franklin, and WeStford and Underhill
in the county Of Chittenden, or such Of
them as shall first in thes town meeting
vote to accept of this act, and give their
assent as is hereinafter provided. are
hereby authorized and empowered in the
manner hereinafter specified to aid in the
of the Lamoillc Valley Rail.
road, eithcv by subscribing for or purcbas-
ing the stock or bonds of such road, or by
guaranteeing the payment of interest on
such stock or bonds Provided that in
40 case shall the aid furnished exceed in
amount twelve times the grand list of
said town.
S 2. Such subscription, purchase or
contract may be made by any Of said
towns when the assent thereto in writing
of majority of the persons paying taxes
both in number and amount Of grand list
then in force in such town shall be OBJ.
tanned by an instrument of assent, signed
and acknowledged before any person au.
thorizsd to take the acknowledgment of
deeds in the county in which such town
is situated, by each person SO asserting,
and each assent shall be dated and shall
specify the amount of the grand list of
the person so asserting. Such instru-
mcnt of assent shall SGT forth the sub
stance Of the contract, subscription or
purchase to be made by such town, and
the conditions on which the same is to be
made provided, however, that the assent
of 10 tax payer shall be binding or of
force, or be counted in asccrtaining the
majority aforesaid. unless such majority
shall have been obtained within six
mouths from the date of the first certifi-
cate of assent.
3. Every such instrument of assent
shall uame three persons who shall be
resident citizens and tax payers Of the
town wherein such assent shall take effect,
who shall be commissioners to make and
execute in the name of and behalf Of such
town the contract, subscription or pur-
chase therein mentioned, and when said
shall have made and exc
cutcd such subscription, purchase or con-
tract in pursuance of the tenor of such
assent aud the provisions Of this act, the
same shall be binding upon such town.
s 4. The commissioners so appointed
shall be the agents of such towns. to
in their name and in their behalf
such stock or bonds, and to attend to and
provide for the interests Of such towns in
relation to any contracts of guaranty by
such towns and in case of subscription
to or purchase Of the capital stock Of said
railroad company, said commissioners
shall have the right to vote at all meet
iDgs of the stockholders Of said company
in the name of such town and upon the
number of shares held by such town.
S 5. The commissioners 80 appointed
shall continue in Office for the term of one
year from the first day Of April next fol-
lowing the subscription, purchase or
contract SO made by them, and in case Of
the death, removal, resignation or disa-
bility Of any such commissioner. the va
cancy 20 occasioned. shall be filed in the
same manner as is now provided by law
for filing vacancies in town Offices, and
after the expiration Of the term Of Office Of
The commissioners SO appointed, the Sc
lectmeu Of such town shall be &c obieio
commissioners to perform the duties here
matter provided for.
S 6. Any Of said towns is hereby au-
thorized and empowered to make and
issue negotiable bonds at rate Of inter-
ost not exceeding seven per cent Per an
mum, specified in annual or semi-annual
coupons thereto attached, for the purpose
Of carrying out the contract, purchase OF
made BY the commissioners
Of such towns ss before provided in this
act. Said bonds or notes shall be signed
by the selectmen, and countersigned by
the treasurer Of tho town issuing the
same. and shall be dated and numbered
and registered in the town clerks Office Of
such town. and certificate Of such regis
try shall be indorsed upon such bonds OF
uptes. And the treasurer and seleetmsp