The Fremont weekly journal. [volume] (Fremont, Sandusky County, Ohio) 1867-1877, 1870-04-01

the same in book, or books, to be
kept by him for that purpose in his
office, which records shall show the
amount, date and number Of each
bond, the rate of interest which it
bears, by what county issued, to con-
struct what railroad the such bonds
are issued and the time when paya-
bic, which shall be open for the in
spection Of any citizen of this State,
or other interested parties. Such
bonds shall be safely kept by said
treasurer for the benefit Of parties
interested, and be disposed of by
him in the following manner-that
is to say: whenever the county COM
missioners shall present an order for
said bonds, or any part thereof, to
said treasurer, accompanied with a
certificate that the road to construct
which said bonds were issued, has
in all respects been completed ac-
eording to the terms Of this act, said
treasurer shall deliver said bonds,
or such number thereof as may be
demanded, to said commissioners or
to the parties designated in their
written order. The treasurer shall
endorse upon each Of said bonds the
date of such delivery and to whom
the same were delivered, and shall
notify the auditor ofthe county issu-
ing the same of the date of such de-
livery. And in case any bond so
delivered to said treasurer by any
county shall not, within three years
from the time when the same was re-
ceived by him, he demanded in COM
pliance with the terms Of this act,
the same shall be Cancelled by said
treasurer and returned to the auditor
of the county issuing the same.
SEC. 6. In case any county shall
avail itself Of the benefit Of this act
by the issue of bonds or other evil
dence Of Indebtedness as by this act
provided, such county shall each
year by it's proper authorities, after
receiving the notice as herein provi-
ded, from the State treasurer, of the
delivery of its bonds, so long as
such bonds or other evidences Of
debt remain unpaid, levy, assess, and
collect upon the taxable property Of
such county a sufficient sum of mon
ey to pay all bonds of interest there
on, as either the bonds or interest
upon the same, shall become due.
And the full faith and credit of any
county so issuing any such bonds or
other evidence of debt, is hereby
pledged for the full payment of both
the principal and interest thereon,
and the same are hereby made a le-
gal and valid charge upon the tax
able property Of the county issuing
the same.
SEC. Z. No such bonds or other
evidence of Indebtedness shall be de-
livered by the State treasurer of any
person upon the order Of the county
commissioners until the road, to
construct which such bonds were is
sued, shall have been completed with
proper road-bed, and ironed with
"T," or such rail as are used by first
class roads, and under lease to be
operated for a term Of not less than
five years
Sec. s. If a majority of votes
cast at such election shall be in favor
of constructing said road, the coun-
ty commissioners shall within thirty
days. proceed to advertise, for not
less than thirty days nor more than
sixty days, in one or more newspa
peEs of general circulation in said
county, that proposals viii be re-
ceived for the construction of said
road, according to the terms of this
act; and they shall enter into con-
tract with the lowest responsible
bidder for the whole of said road, or
with the party that will agree to
build the greatest number Of miles
ofroad for the sum appropriated,
upon bonds being given to the coun-
ty with security to be approved by
said commissioners, that said road
shall be constructed according to
said contract.
SEC. 9. Whenever in the construc-
ton of a railway, under the proxis-
ions of this act as herein provided,
it shall be necessary to appropriate
land for the foundation of the abut- |
ments or piers of any bridge across
any stream within this state, or for
any other purpose, or to appropriate
any rights or franchises, proceedings
shall be commenced by said county
commissioners, and conducted in ac-
cordance with the ACT entitled san !
act to provide for the compensation |
to the owners of private property
appropriated for the use of corpora
tions," passed April eth, 1852, and
the acts supplementary thereto, ex-
cept that the verdict of the jury and |
the Judgment Of the court shall be |
so varied as to suit the case.
SEC. 10. The county commission
ers shall have the right to receive do
nations in lands or money, bonds and |
other personal property, and dispose
of the same in aid of said road, and |
to acquire, hold, and possess all the
necessary real and personal property |
and franchises in this state.
SEC. II. Said county commission
ers shall have the power and are
hereby authorized to lease said road,
under the provisions of
this act, before or after its compile
ton, for term Of years, with the
full power to use and operate the
same, to such person or company as
will furnish security approved by
said commissioners; provided, that
such lessees shall agree TO pay to
said commissioners a ratable share
Of the net profits of said road (after
proper allowances for the
use Of rolling stock and other ex-
penditures placed upon said road),
based upon an agreed value permile. |
SEC. u. Said county commiss-
Ioners shall have power to take Sc
,urity from any officer, agent or con
5ractor chosen, appointed or en-
lloyed by them, as they shall deem
advisable. They shall not become
surety for any such officer, agent or
contractor, or be interested, directly
n any contract covering said rail