Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1882-04-06

thorities of such city or town are authorized
and required to subscribe in behalf Of such
city or town, as hereinbefore provided.
SEC. TO- That for the payment Of the inter-
est on said bonds, the County Auditor or other
officer discharging such duties, or the city or
town treasurer, as the case may be, shall be
authorized and required to assess annually,
upon the property of such city, town or town.
ship, such per centum as may be necessary to
pay said interest, which shall be known and
STYLED in the tax-books as said railroad tax,
which shall be collected by the Treasurer un-
der the same regulations as are provided by
law for the collection Of taxes in any of the
counties. cities or towns so subscribing, and
which shall be paid over by the said Treasurer
to the holders of said bonds as the said inter-
est shall become due: Prorided, That within
ten years of the time said bonds shall fall due,
the money to pay the same shall be raised by
taxation in the same manner, and paid out by
the County Treasurer, as provided above for
the payment of the annual interest.
SEC. II. That in collecting said taxes, the
county, city or town Treasurer shall deliver to
the tax payer special receipt therefor, which
shall express that the amount stated therein IS
the tax for said railroad and when any per-
son, a holder of such receipts, issued in his
own name, or in that of another person, and
duly transferred to such holder by the endorse
ment thereon of the name OF the person to
whom the same was issued, shall present an
amount thereof to the President of said Com
pany, equal to one share of the stock OF the
said company, the said President shall cause to
be issued to The holder of said receipt one share
of stock, and such person shall be d stOckhold-
er in said company from the date OF the scrip
for such stock so issued as aforesaid, and the
like proceedings and rights and liabilities shall
be had, and attachto'any person who may pre-
| sent such tax receipts amounting to more than
one share Provided, That such scrip shall not
he presented for any fractional parts of share.
Sec. 12. That said railroad company shall
have every right, privilege and power necessa-
ry for the purpose Of acquiring such lands or
right of way as they may require for the loca-
ton or construction of the said railroad, or for
the erection or location of depOts, warehouses,
stations, and other necessary establishments,
or for extending or altering the same, and the
said company shall have the benefit of every
process or proceeding, and shall be subject to
all the restrictions provided or imposed in Sec
tions Is toS6 both inclusive, of Chapter LHlll
of the General Statutes.
SEC. 13. Nothing in this Act contained
shall be construed to exempt tile property of
said railroad company from taxation for State
and county purposes.
| SEC. IL. EdCH SIOChHOlue! III CNC oole wi Po'
ration shall be Jointly and severally liable to
the creditors thereof in any amount, (beside
the value of his share or shares therein) not
exceeding five per cent. of the par value of the
share or shares held by him at the time the de-
mand Of the creditor was made Proulled
That such demand shall have been payable
within one year Provided, also, That pro-
ceedings to hold such stockholder liable there
for shall be commenced within two years after
such debt may have become due, and whilst he
remains a stockholder therein, or within two
years after he shall have ceased to be such
stockholder Provided, further, That no per-
son holding a share or shares as executor, ad'
minstrator, trustee, OF in any other fiduciary
capacity, shall he liable thereon beyond the
value of the estate held by him as such execu
tor, administrator, trustee, or in any Other
fiduciary capacity.
SEC. Is That this Act shall be a public
Act, to take effect on and after it's passage
and shall remain of force for the space of thir:
ty years Provided, That this charter Shall
cease and determine unless the construction OF
said railroad is commenced on or before JAN
uary l, 1885, and completed on or before JAN
uary1, 1889.
| Annrnved Fehruarv @ 1892