The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1873-04-03

AN ACT to facilitate the collection of debts
due from Railroad Companies TO this
State.
Section i. Be it enacted by the Legisla-
ture of the State Of Mississippi, That the
Mississippi Central Railroad Company. the
Mobile and Ohio Railroad Company, and
the Mississippi and Tennessee Railroad
company, or either of them be. and they
are hereby authorized. empowered aud per-
mitted TO paw the pTinciD pie sum of their IN
.lebtednpsS to the State OF Mississippi. in
five equal annual instruments. with interest
at the rate of eight Der cent. per anuum'
payable semi-annualiy; said interest TO be-
gin six months after this act shall &c into
effect.
See. 2 Be it further eaact-d. That upon
the execution by any of the above named
com panies of the proper ob cations 10 the
state of Mississippi (With good and suffl-
cienU security. 10 be approved Dy tae Coy
erUor Secretary oil state. anu the state
Trea lrer, and a majority of the three, the
/ Go, -aor, Secretary OF State, and State
! Trss- lrer shall have power to decide what
MAY considered good and sufficient Sc
/ curitv.) " thin six months from the date
when this act shall 90 into effect, for tie
payment of the principal sum o. It's own
said indebtedn1 IS as provided in the fore
| q Ding section, the interest accrulng upon
/ said principal prior To the date when inter
| est shall begin as above provided. shall be
| RENTED 10 the Company or Companies exc
| in TIE event either OF said Railroad Com
| paries shall fail TO pay the principal of said
| in(kbt edaeSs and tie interest thereon as
| provided for in this act then the interest
| hereto tore due and proposed TO be RENTED
bv dis Act on said conditions, shall be due
anC PAYABLE 10 the State the same as If no
relief had been extended 10 such compan.
so iiIing to carry ont in good faith the pro-
visions herein contained.
| SIC. 3. Be il further enacted. That said
Obligation shall be paid az they severally
m3ture. in warrants issued by the Auditor
offublic Accounts on the Treasurer. bear
iRg late subsequent to January lSt. 1870, or
| i'm certificates OF indebtedness Of the State.
issled under an Act entitled an Act 10 pro-
vile for the issuance OF certificates OF IN
| dfbtedneSs by the State. and for other pur-
| pses approved June I3. 1870, or i'm nation
a currency. at the option OF the payer
Sec. f. Be ii further enacted, That the
Governor of this State be. and he is hereby
| empowered. authorized and directed TO set
, | te with the said companies, or either Of the
anne, rs above provided, and required upon
eceipt of any payment iron6 elthero OF said
Companies. by virtue of this act, to immedi-
tely pay the same identical fund into the
,tate Treasury other moneys; that any
uit that may now be penGing against any
# the before mentioned railroad companit,
han be held in allegiance, and said suits
5 hail be continued OBJ the Cocker, and the
ability of any judgment, proceeding OF
l process now had shall remain UuimpaireC
Until a full mpliance with the provisions
+ this act, and the final payment of al the
: Indebtedness of each OF said railroad com
' anies to the State.
See. ) Be it further enacted. That this
ct shall take effect and be in force from anC
: tter its passage.