The weekly clarion., 1880-03-24

AN ACT for the settlement of all eoufrover
| s.es and lifigations between the State O.
Mississippi and the Mobile and Ohio Rail
road Company.
| OF the State OF Mississippi, That in consider
alton OF the REIMBURSEMENT by the Mobile and
ONO Railroad Company of all its rights to ex-
emptlon or qualified exemption by virtue oi
section three of an act entitled, IAN act To in
| corporate the Mobile and Ohio Railroad Com
pany. approved February II, lS43, thu State
OF Mississippi agrees to relinquish to and
cancel all claims OF every sort held, owned
or possessed by her against the said
company, by reason of, or growing out of,
the receipt by said company of q portion of
she fund commonly known as the Chickasaw
School Fund, upon which claim Judgment was
rendered by the-Snpreme Court of this State
on the 9th day of March, 1876. in favor of the
State for 1897 1865, with interest at eight per
cent per annum from February 21st, 1876.
against said company, and from which an ap-
peal astaken By said company to the Supreme
Court of the L nifed ates, where the said ap-
peal Is pending
SBc. 2 Be IL further enacted. that the first
section of this Act shall be wholly inoperatiye
and of no effect, unless the said company shall,
al or before the hrst day of July, 1880 file in
the ofhce of the Secretary of State, q certified
copy of resolution to be passed by the stock
holders of said company, at meeting TO be
called for that pHrpose, reiinq in be-
half OF said company, all the rights to exemp-
tlon from taxation, by virtue of section three
OF on Act, entitled, s'an Act to incorporate the
Mobile and Ohio Railroad Company approv-
February II, l64S, together with relinquish-
ment Of the same rights under the hand aud
seal OF such Receiver, or Receivers, Trustee or
Trustees, as may be in the possession of said
ROAD, so far he, or they, can relinuuish the
same; and ii said certificate of the stoekhold-
srs shall be fled with the Secretary of
State, the said company shall be deemed and
held to have accepted and agreed TO this Act,
with all of its conditions, and section three of
the Act of February r. l84S, aforesaid, shall
be deemed and held thereby to be repealed
with its full consent.
SEC. 8. Be it further enacted, That upon the
COPY of said resolution, and said reIiuauish-
tent by said Receiver, or Trustee, being so
filed with the Secretary of State. it shall be
the duty of the Governor under the seal of the
State, to execute and deliver to said Company
a written REIMBURSEMENT of all claim of every
sort, held owned or possessed by the State, by
reason of, or growing out of the receipt by said
company, of portion of the fund commonly
known as the Chickasaw school fund, to which
reference is made in section OF this Act.
SEC 4. Be it further enacted That upon the
settlement provided for being so made, it
shall be the duty of the said company to dis
miss the appeal now pending in the Supreme
Court of the United States, as mentioned in
section one of this act, at their COSTS and upon
failure to do within four months after the |
first day of July, 1880 the State of Mississippi
shall have the right, through her attorneys 10 |
have the same dismissed
SEC. 5. Be it further enacted, That If at any |
time hereafter it should be adjudged by any |
court of competent jurisdiction, at the suit of |
said company, or any of the stockholders |
thereof, or any other person or persons inter |
ested therein, that the resolution of the stock |
holders, OF which a copy is required to be fled |
with the Secretary of state as directed in Sec |
ton two of this act, was not binding on said |
or stockholders, or other persons in
terested therein, or that from any cause the |
herein provided for was not legally |
m ade and is not binding as it is designed to
be, then and in that event the judgment de-
scribed in section one of this act shall stand in
full force and effect against said company,
anything in this act to the contrary not
SEC 6. Be it further enacted, That if said
company shall accept the provisions of this
Act, whereby the third section of the Act of
February H. 194S. aforesaid, shall become re-
oealed, it shall thereafter be subject to taxa-
ion only in the same manner and form, and
o the same extent, other railroads in the
State of the same class, which may be subject
o taxation, shall be taxed under the laws of
he State, from time to time enacted in rela-
ion thereto; and said company shall pay
axes for the year 1880, and in default thereof
hall be subject to the same remedies, pains
md penalties, provided against other roads
making default in the ayment of the taxes
Iue by them.
Sec. T. Be it further enacted, That this Act
axe effect and be in force from and after its
passage.
Approved March 5, 1880.