Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1869-03-26
LAWS OF WISCONSIN.
By authority:]
Published March II, 1850.
pTER 1O--IocAJ


follocs:
supervisors of the county OF Iowa. three suitable per
sons members of the board to be called fund com
mssioners who shall be subject to be removed at the
pleasure of the board Of supervisors
Sec 2. The term of service OF each one OF SAID 1unt
commissioners which shall be first appointed shall
commence at the time of his appointment and the
term of one of tlti shall continue for three years
from the first day IF Jahuary next after his appoint
mtnt the term of another for two years from ina
time and the term of the other for one year from tina
time. The appointment shall be made by an order OF
resolution of the board to he entered in their records
With shall specify the dir6ti of the term of strtrt
of each person appointed by them, and commits
sion shall also be made out and delivered to each Of
the persons appointed; signed by the chairman and
clerk of the board atid sealed with the seal of the
board of supervisorsors, which shall also specify the
duration of his term of office, and such commission Is
sued to such person his successor, shall at all times
and in all places be sufficient evidence of his author
ty to exercise the powers and duties Conferred upon
him by this act
pervsors which shall be held next before the eXpra
ton of the term of service of any one of said fund
commissioners the board of supervisors shall reap
point the incumbent appoint some other suitable
person to fill the office thus to become vacant, who
Shall hold said Office for the term of three years. aid
in of vacancy from any cause III the ONCE OF
either of SAID fund commissioners tho board OF super
visors shall appoint some suitable person to I'LL the
unexpired term created by such vacancy, and In al!
of appointment disappointment, either to fill
vacancy for full term, record shall be made OF
the same and commission issued in the manner here
inbefore provided in case of first appointment.
Sec. 4. Every person appointed to such office oil
fund commissioner shall, before he enters upon the
duties of his Office, execute to the treasurer OF the
county and his successors, bond, with two or more
suretes to be approved by the treasurer in the penal
sum of --thousand dollars, conditioned that he
will faithfully execute the duties of his office, which
bond shall be deposited with the clerk of the board of
supervisors, and kept on file in his office.
Sec 5. The said fund commissioners Shall be trus-
tees of the county of Iowa. in relation to all matters
connected with arising out of any indebtedness or
liability of said county growing out OF or relating TO
the construction of the Mineral Point railroad and to
enable them to discharge such trust, and to conn
promise, compound, settle and discharge all such in
debtedness and liability, justly and equitaby and
with due regard to the equal rights of all the credi-
tors of said county, all moneys, goods rights credits
and property of every description which said county
may now own or possess, or which 1T may hereafter
acquire possess and which raised levied or ac-
qured for the purpose of being applied to tho settle
mcnt of any such Indebtedness liability shall vest
in and shall be held controlled and managed by said
fund commissioners for the purpose of compromising,
compromising, settling and dischargng such indebted
liabilities and all taxes which shall have been,
or which shall he levied collected for that purpose,
for the purpose of satisfying any Judgment against
said county, shall be paid over to said fund commits
sioners and shall not be disposed OF in any other
manner, and the said fund commissioners, or major
ity of them may invest any moneys in their posses
sion under their control in United States bonds,
bearing interest which they may again sell and con-
Sec. g. The beneficial interest of the county OF
Iowa of the board of supervisors of said county,
and all the right property or interest OF any KIND OF
said county or board OF supervisors III any Judgment
order decree of any court which has been or which
may hereafter be made in relation to the foreclosure
of any mortgage deed of trust in which said county
board of supervisors has any interest shall vest in
and shall be held, controlled and managed by said
fund commissioners for the purpose oresaid and said
fund commissioners, majority of thGm are hero
by authorized and empowered TO have and eXcercise
all the rights, powers and authority i'll relation to or
arising ont of any such Judgment order or decree, or
which is may be authorized created by, or con-
mod in me-, iufr Inp al
said county of Iowa said board OF supervisors may
or might have or exercised.
Sec I. In of any sale of the Mineral Point
railroad other property by virtue of any such or
der judgment decree in which the county of Iowa
may have any interest, the said fund commissioners
may bid at such sale, and may become the purchaser
such sale of said railroad and OF all other property
which may be offered for sale in pursuance of any
such Judgment, order decree, and such bids may
be made by said fund commissioners without the pay
ment of any money except the costs and expenses OF
sale, and without mourning any personal liability to
pay the same i'll the same manner as If such fund
commissioners held the mortgage or trust deed upon
which such Judgment order or decree was made, IN
their own right and payment of such bid may be
made in the discharge in whole or in part of such
Judgment order decree, which discharge such fund
commissioners majority of tem shall have full
power and authority to make, and they, or majority
of them, shall have possess and exercise all the poW
and authority in relation to any such judgment,
order Decree and i'll relation to any rights and au-
thority contained in growing out of arising from
the same and in relation any sale made in pursu
thereof that the county of Iowa board of SUI
pervisors may or might have, possess or exercise
Sec. s. In case the said fund commissioners SHALL
by virtue of any such SALE acquire any title to the
said Mineral Point railroad, any part thereof they
shall thereby acquire, and they, or a majority of
them, may exercise all the rights spriveges powers
franchises and immunties conferred upon parties
quirng title to railroads parts thereof by forecos
ure sale by virtue of chapter 10 OF the revised stat
utes of this state.
Sec. 0. In organizing the said Mineral Point
railroad company, in pursuance of the provisions of
said chapter 70, the said fund commissioners
jorty of them may provide for the issuing of such
number of shares of stock as they shall think proper
and shall have power to sell and dispose of the
in such manner they shall think proper, and all
shares of stock which shall not be sold disposed of
by them shall be held by them upon the trust con-
ferred upon them by this act and they majority
of them may appoint one oftheir own number or such
other person they shall think proper their proxy
to vote upon said shares of stock held by them at
all meetings of said company
Sec. 10. Said fund commissioners or a majority of
therl shall have authority in their discretion to SELL
transfer and convey to the town city of Mineral
Point, and to the town of Waldwick Moscow, such
number of shares of stock in said new company and
upon such terms they may think proper, and shall
also have authority in their discretion, to exchange
any portion of the shares of such stock for bonds of
the town of Mineral Point of the town ofWaldwick
issued in aid of the Mineral Point Railroad, for
coupons of said bonds for judgments rendered upon
any such bonds or coupons, and to make any compro-
mise the said commissioners may think proper with
any such city, for any such bonds, coupons,
or judgments which they may acquire or hold.
Sec IL. The said fund commissioners shall hold all
shares of stock in said company, which they may
have receive and the proceeds of all such shares as
they may sell and dispose of, solely in trust for the
purpose of compromising compromising, settling and
dischargng any Indebtedness liability of said couns
ty of Iowa upon any bonds issued by said county to
aid in construction of the Mineral Point railroad
of any coupons interest warrants attached to any
such bonds for of any judgm onts rendered upon any
such bonds, or upon any such coupons or interest
warrants
Sec H. The said fund commissioners or majority
of them hereby invested with full power and au-
thority to compromise, compound, settle and dis
charge any Indebtedness liability of said county OF
Iowa upon any such bonds, upon any such coupons
or interest warrants, upon any judgment rendered
upon any such bonds or upon any such coupons or
interest warrants upon such terms in their discre
ton are just and equitable, and any such compromise
settlement may include the whole of such indebt
edness or liability or it may embrace any part there
of and for the purpose of making such compromise
settlement the said fund commissioners majority
of them are hereby authorized and empowered to
and appropriate the whole any part of any moneys
goods rights credits and property and of any shares
of stock in said new railroad company, and the pro-
ceeds thereof which may to Their possession or
under there control and for that purpose to pay out
convey transfer and deliver any and all snch moneys,
goods rights credits property and shares OF stock or
any part thereof.
Sec 10. All certificates for any shares of stock in
such new railroad company which said fund commits
sioners shall receive shall be issued to them by their
and designation of the fund commissioners OF
the county of iowa. and all transfers of such shares
or of anysof them shall be by the same designation,
and shall be signed by said commissioners or major
ity of them which transfers signed shall be effect
ual in law to convey and transfer the title to the
shares therein mentioned and described.
Sec a.. The legal title to all the moneys, goods,
rights credits, property shares of stock pro-
ceeds thereof which shall come to the possession be
under the control authority Of said fund commits
sioners shall be vested exclusively in them, and the
said county of Iowa shall only have beneficial in
terest in the until all the liability and indebted