The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1871-04-22
The Canal Trust,

The following bill passed the Illinois Legis-
laturc last week, and having been approved
by the Governor, is 4 law:
AN ACT to settle up and close the trust of the
Board of Trustees of the Illinois aud Michi-
gan Canal
Whereas the Illinois and Michigan Canal, and
all remaining canal property, have reverted or
are about to revert to the state, and it devolyes
upon the general assembly to take the necessary
steps to insure iudicious and economical man
agement of the same therefore,
SECTION |. BE II ehacted By the People Of the
State Of Wtno{s, represented IN tie General As
sembly, That it is hereby made The duty of the
canal commissioners of this state upon the ter
mination of the trust provided for by an act en-.
titled Gan act to provide for the completion Of
the Illinois and Michigan canal" approved Feb
ruary twesty first, one thousand eight hundred
and forty-three, and the acts amendatory there
to, 80 examine and audit the accounts of the
board of trustees of the Illinois and Michigan
camel: and il, upon such examination. they shall
lind said accounts correct, they shall state the
said accounts in full: and they, together with
the canal trustees, shall certify that they are
correct, and shall transmit copies thereof to the
governor, for his approval; and when said &C..
counts are so approved. they shall execute and
deliver to said trustees certificate. under their
hands, to that effect.
So. That it shall be the duty of the canal
commissioners TO take charge of and exercise iull
control the Illinois and Michigan canal
from aud after the passage of this act, and to
receive from the board of trustees aforesaid all
| the money on hand belonging to the Illinois and
Michigan canal fund, and pay the same into the
| state treasury, and also to receive such other
property, books and office buildings AS nav be
necessary to the efficient management Of said
canal; and it shall be the duty of the said board
Ut trustees to comply with the provisions CT this
act, and pay over all such money and deliver all
such property to said commissioners promptly,
! upon the passage of this act: H5OUtGe9 that any
claim growing out of the arrangement of the
canal, or the expenses thereof, for which the
canal fund or the state trustee is now liable may
be prosecuted against the said commissioners,
and shall be paid by them out of the resources
of the canal: PocN1ed, that all moneys received
for rents and tolls not necessary for the expen.
ses Of the canal and for keeping the same in re.
pair, shall be paid, quarterly, into the state
treasury, and that the rate of toll shall not be
increased without the consent of the general
assembly.
3d. That upon the termination of said trust
|, according to the provisions of the act above re-
ferred to, the said board of trustees shall exc.
cute, under their HANDS and corporate seal, tc
the state OF ILLINOIS, release deed of all and
singular the remaining property, assets and
effects, Of every name and description, OF said
trust.
S4. The said board of commissioners may
have appraised all lands, islands, lots or parcel.
Of lots. belonging 70 said board, not heretofore
sold, or which may lave been sold and forfeited
or which may hereafter become forfeited a.d
may sell the same At public auction, AT not less
than the appraised value, after duly publishin.
notice of said SALE md pay the proceeds o.
snch sale into the treasury OF the state Pr9Ci
ced, that none of ,he property above incrtoncC
shall bee sold unit! said commissioners shall APP
point one or more agents, whose duty il shall be
when notified by said board, to examine and ar
praise said property. and return said appraise
ment to the secretary OF the said board OF com
mi>sioner-.
.. " appears by the preamble, m emer
gency having arisen, this act shall take eifs2
and be In force from and after its passage.