The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1882-05-17
L A w :
OF THE
STATE OF MISSISSIPPI.
published BY AUTHORITY.


AN ACT to authorize the Board Of Mayor and
Councilman of Yazoo City to aid and assist
the Yazoo and Mississippi Valley Railroad
Company.
WHEREAS The taxpayers of 1azoo City de-
sire to aid and assist the Yazoo and Missis-
sippi Valley railroad company, and have Pc
titioned this body on that subject, asking iof
authority to levy a tax for this purpose,
Section l. Be it therefore enacted by the
Legislature of the State of Mississippi, That
upon the written application of not less than
twenty citizens of said town, who may be at
that time owners of real estate within the corr
rorate limits of said town, which application
shall be presented to the board of mayor and
councilman of said town, asking that said
town subscribe to the capital stock of SAID
railroad company to an amount not TO exceed
ten thousand dollars, the said board are here
by REQUIRED without delay, to submit the
question of subscription or mo subserip-
lion" to the decision Of the qualified voters
Of said town at a special election to be held
therein; and if two-thirds of said quailhed
voters be in favor of subscription, the said
board are hereby required without delay, and
are authorized and empowered to subscribe
to the capital stock of said corporation to the
amount specified and the bonds of said town
for said amount in the aggregate, shall be
then issued without delay to the president ana
directors of said railroad company, IN amounts
of five hundred and one thousand dollars,
per annum from the date OF their issuance.
OF said bonds the sum of 81, 500 90 with in
terest. shall be due aud payable January l,
1884; the sum of 81 500 90 with interest shall
be due and payable anuary l, 1888; the sum
of 81 500 90 with interest shall be due and
payable January /, 1886; the sum Of 81 800 90
with interest, shall be due and payable Janu-
arv !. 1881; the sum of 5000 % with interest,
shall be due January l, 1855 and the sum OF
3 600 90 with interest, shalt be due and pay
sble January /, 1889. The said bonds shall
not he sold for less than their face value, and
ne proeeeds shall be used, if SO much shall
ha necessary. in paying for the right Of way
tbrongb said town and for grounds necessary
for nassen0er and freight depots, and for no
other purposes provided. however, that II
said sum shall be more than safnelent 20 pay
for the right of way and for GROUNDS Ier ue-
pots. the overplus shall be applied % anu nseu
Tor depot buildings, in said town
SEc 2 BE it further enacted, Ihat an as
sessment shall 5e made upon the taxpayers o.
said town to pay the principal AMI interest OF
said bonds; but the railroad tax assessed ana
collected in any one ytar shall only De sueh
sum as viii be equal 70 the principas ana IA
Ierest falling due in January Of the succeed
y ss Be Ii further enacted, That eertif-
...Toe- of shares in the capital stock OF SAID
company. to the amount Of said bonds shan
he issued and delived to the SAID 0oad oL nay
or and couaeilmen, when said oonas snai1 oe
sEc { Be It further enacted, That before
.ha sIection proyided for under this act, the
s.;d hoard shall give at least thirty days no
tise Of such election, publishing the peiltlos
nrovided for. with names Of petltloheEs, anu
shall also publish, for the same tine. the -
der authorizing and requiring sara eieSsion
to be held.
SIC. 5. Be It further enacted, That this aet