The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1877-03-14

AN ACTto require the annual levy care sH Il
issnel in payment Of stick ia the Match 4 Jackson
Conmlus Railroad under Act approved July 2lSt, /
SECTION 1. Be 1t enacted b. he Ltggsss7atunrss'
Of the State Of Mississippi, That for the sole
purpose of creating sinking fund for the re-
dempton and payment of the bonds of Adams
county issued and dehyereixto theINatcflez:
Jackson and Columbus railroad company. in
payment Of three hundred thousand dollars
stock in said road, the board of supervisors OF
Adams county, shall, on the day fixed by law
for the levy by said board of general county
taxes for the year ST, and the said board shall,
in each and every year thereafter, at the time
fixed by law for the levy by said board of general
county taxes, until all of said bonds shall have
been paid, levy upon all the property in Adams
county subject to taxation rate of tax suth-
Gent to raise net sum of not less than five
| thousand dollars in each and every year, over
and above all costs of collection and disburse-
ment; said tax to be payable in United States
currency, and to be collected other State and
county taxes are by law collected the fund so
raised shall be known as the railroad debt
| liquidation fund of Adams count and shall be
applied solely to the payment of what is known
as the Adams county railroad bonds as hereinaf-
ter directed u
SEC 2. Be 1t further enacted, That on or be
I n.
annually thereafter, the President of the board
of supervisors of Adams county shall cause pre-
vious public notice to be given, by at least ten
days publication in one or more public newspa-
pers printed and published in the city of Match
Ell. IN said county, that on the first Monday IN
| April then next ensuing between the hours pre-
scribed by law for making sherff2s sale OF
property under execution, at the door of the
court house, at public outcry. The treasurer OF
Adams county shall invest the money produced
by the taxes provided for in the first section OF
this Act in the purchase of said railroad bonds
from the lowest bidder, till the amount of the
railroad debt liquidation fund of Adams county
then in the treasury shall be exhausted, and in
purchasing said bonds as hereinbefore directed
the treasurer shall purchase the bonds offered
for the lowest prices
Sec. 3. Be 1t further enacted, That in pur
suance of public notice provided for In the
second section of this Act, the treasurer Of
Il Adams county shall annually, on the day sc
fixed in said notice for the purchase of said
bonds proceed to carry out the provisions oil
section two of this Act. by purchasing said
bonds from the person or persons offering them
for the lowest prices until the funds provided
for in the first section of this Act shall be
exhausted. The said treasurer shall annu
ally, with his July report, make detailed
report to the board of supervisors of said county
of such purchase, stating the denomination
number and series of the bonds so purchased by
him in each year. the aggregate amount pur
chased, from whom, and at what prices he pur
chased the same, and the aggregate amount
: expended by him in such purchase, and the
clerk of the chancery court of said county shall
record the same in his office for public inspec
ton. E74"vJ falaH
SEC. 4. Belt f,wther enacted, That whatever
balance of money arising from tax levied In
pursu lnce of section nineteen of Act entitled
IAN Act to incorporate the Natchez and Jack
son railroad company" approved July 2lst
! 1870, for the purpose of redeeming the interest
coupons attached to said bonds Nv hich may be
left in the treasury of said county in each year
after fedeeming the interest coupons due In
that year, shall enter into and BECOME part OF
the railroad debt liquidation fund Of Adams
county, created by the first section of this Act,
and he treasury of Adams county shall annually
invest the same the purchase OF said bonds as
provided in sections two and three Of this Act;
! Prouided, that this Act shall in no wise inter
fere with the provisions of the. charter of said
railroad company nor with the funds, franchises
| or privileges of said company, it being the true
intent and purpose of this Act TO provide only
for the redemption of the Adams county railroad
bonds.
Sec s. BE 1t further enactcd That all laws
and parts of laws in conflict with the provisions
of this Act be and the same are hereby re-
pealed. f6-
SEC g. Be 1t further enacted That this Act
shall take effect and be in force from and after its
passage. ~ffgs "a = afgfz
APPROVED, January Doth, 1871. s. 49,.