Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1871-06-29
Corporation Law.

AN AIT authorizing the commissioners Of the
sinking fund to sell the two thousand shares of
stock in the Orange and Alexandria Railroad
Company, subscribed for by the City Council
by an act dated January =, 1912 and invest
the proceeds in the erection Of bull dIngs on the
Market square, and appropriate the revenue
thcreirom to carry out the intent OF section 3
of said act.
See |. Be it enacted by the City Council Of
Alexandria, That the commissioners OF the sink
ing fund be, and are hereby authorized and en-
powered to sell and transfer the two thousand
shares of stock in the Orange and Alexandria
Railroad Company, subscribed for by IN act OF
the City Council passed January >, lS49, and
invest the proceeds derived from the sale thereof
in the erection Of buildings on the Markctsquarc,
in accordance with such plans Ms may be hereai-
ter adopted.
Sec . Be it further enacted That the com
missioners Of the sinking fund shall have con-
troll over the renting Of the stalls, stands and
benches III the Market square, and of such rooms
in the market building not occupied by officers
apart by resolution Of the City Council.
Sec 3. Be it further enacted, That the revenue
derived from the rents OF stalls, stands and
benches in the Market square and rooms in the
building thereon shall be collected by the Clerk
of the Market and deposited with the commits
sioncrs of the sinking fund, taking from them
their receipt for the amount SO deposited, which
receipt he Shall deposit with the City Auditor,
who Shall charge the amountto said commission
err on the books in his office.
Sec T. Be it further enacted, That the COM
missioners Of the sinking fund are authorized
and required to keep the building on the Mar
kct square insured against loss or damage by
fire for an amount not less than the sum derived
from the sale Of the stock specified III the first
section Of this act, and shall from time to time
invest the revenue derived from the rents ot
stalls, stands, benches, rooms, &c in the Mar.
ket square and buildings thereon i'll the stocks or
bonds ofthis Corporation, or in such other stocks
or bonds rs they may deem most advisable, (and
shall in like manner invest the interest arising
from such Investments to create Il sinking fund
for the redemption OF the stock issued under an
net authorizing the purchase Of two thousand
shares OF stock in the Orange and Alexandria
Railroad Company" passed January 2 ls39,
and shall on the first day Of August in each and
every year, furnish to each branch of the City
Council, statement showing in detail all their
transactions for the preceding year, and the then
condition of the funds under their control.
See s. Be it further enacted, That when the
commissioners Of the sinking fund shall have re-
deemed the bonds Of this Corporation issued
under "an act authorizing the purchase of two
thousand shares Of stock in tho Orange and AL
cxandra Railroad Company passed january
., 1849, they shall make their final report to the
CITY Council, and shall turn overall investments
made by them to the City Council for cancella-
ton, and their control over the revenue derived
from the rents Of the stalls. stands and benches
in the Market square and from the rent Of rooms
in the buildings thereon shat! cease.
Sec G. This act shall be in force from its pas
sage and all acts or parts Of acts in conflict with
this act are hereby repealed
Passed the Board Of Aldermen June21th, 1871
WIN. H. MARBURY, President
PASSED. the Common Council June 3D. 1871.
JNO b. SMOOT, President.
Approved: HUGH LAIilA NJ, Mayor
Tcstc: HAROLD SNOwDEN, CVk. C. e.