The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1871-07-13

Inst their personal property for taxation in.
this State, specially design ate in their return
to be made to the assessors of their respective
districts, any such bonds upon which rail-
road company has assumed to pay the taxes
under The provisions hereof. exhibiting the
same to said assessors or furnishing to them
satisfactory proof that the person so listing is
the owner or holder of such bonds, giving
a similar description thereof as the company
is required to make by the provisions of Sec
ton two of this act
Sec. 6. As soon as the county auditors of
the several counties shall have received the
returns of said assessors, said county aud tIrs
shall each. respectively, enter the same up
on the tax duplicate of his county in the
mans. of the railroad company issuing said
bonds, with the valuation of thesame as fixed
By said commissioners. AND ASSESS
THEM ON THE SAME RATE OF TAX
FOR STATE, COUNTY, TOWNSHIP,
MUNICIPAL, AND ALL LOCAL PUR-
| POSES as shall be assessed upon
the other taxable chattel property owned or
held in the same taxation district in which
said railroad bonds are owned or held, and
shall include the same in the abstract of the
duplicate of his county returned to the audit
or of state. Said county auditor shall also,
at the time of transmitting said abstract, re-
turn to the auditor of state list which shall
include the names of the railroad companies
against which taxes are levied under the pro-
visions of this act, with such description of
the bonds thereof as shall be required by the
auditor of state, together with the taxes lev
Ied thereon, in such form as the auditor of
state shall direct. And when such returns
snail have been fully made by the auditors
of the several counties of this state the audit
or of state shall ascertain the amount of taxes
due upon said bonds for all purposes and
notify the person acting as trustee for said
company, under the provisions of this act, of
the amount SO found due for iaxes upon said
bonds; and thereupon said trustee shall make
settlement of said taxes with said auditor
and, under his certificate, pay or cause to be
paid to the treasurer of stateth tax SO ascer :
tanned, one-half thereof on or before the first
day of December and the other Ione-half on
or before the first day of June of each year,
and upon failure to make such payment
within the time specified, the same rate OF
penalty shall be assessed upon the amount
so due and unpaid as is provided by law
for the non-pay ment of taxes on other chat
tel property, and the conditions of the un-
dertaking given under the provisions of this
act shall be held to be broken. and the
treasurer of state shall proceed against
the makers and sureties thereof
accordingly, and upon the payment of said
taxes intothe State Treasury by said trustee,
or when otherwise collected, the same shall be
I0rInW1Ln IemltIeO TO the several cOunGy tISas-
uries in the same manner that other moneys
are ira nsmitted from the State Treasury to
county treasures provided, any such rail-
road company may, in lieu of the undertak-
ing provided for by this act, deposit with the
Treasurer of State such an amount of the
bonds of the State of Ohio, or of the United
States, as said commissioners shall deem am
ply sufficient to secure the payment of all
taxes that may be SO levied or assessed on its
said bonds. and said commissioners are here
by authorized, in the event of the failure of
said railroad company TO pay said
taxes when they become due, to
convert said securities so deposited or so
much thereof as may be necessary to the pay
ment of said taxes, and any penalty and
charges that may be due thereon. aoE =isi.
SEC. Z. This act shall take effect from and
after its passage. altf