The Sunday morning news. [volume] (Jersey City [N.J.]) 1886-1891, 1890-07-20
CHAPTER CxyI

An Act to provide for the surrender and
extiuguishfng GA the part OF any rail-
road or canal corporation of any con
tract OF exemption from taxation in
whole or in part which it may have or
claim by virtue of its character or any
supplement thereto or under any law Of
this state, and for the surrender and
extinSuishment on the part OF the state
OF any contract contained in the charter
and supplements of said corporation. or
in any law of the state empowering the
state to purchase, take or acquire the
railroad, canal and olher property Of
such corporation, or any part thereof,
upon an appraisement thereof or in any
other manner prescribed by such char
ter or supplement or law.
/. Be it enacted by the Senate and Gen.
eral Assembly of the State of New Jersey,
That any railroad or canal corporation
having or claiming to have aug contract
with the State by virtue OF its charter or
any supplement thereto, or any law OF
this state, whereby its property, or any
part thereof. is claimed to be exempted
from the taxation imposed By any law OF
this state, it shall be lawful for such cor
porati0n, upon the written assent thereto
of the governor, to execute and iile in
the Office of the secretary OF state
an instrument, TO be first approved
by the attorney general, waving
the benefit of and surrendering any such
contract and agreeing to submit itself
and be subject to the operation of the pro-
visions OF all constitutional general laws
of the state applicable to all the railroad
and canal corporations OF this state which
can be taxed by the legislative power OF
the state By acts passed or to be passed:
and upon the execution and fling Of such
instrument SO approved as aforesaid, any
contract or provision contained in The
charter Of such corporation or any sup
7Rfa nj n on or f1rtc. r.f4 1Ro
state. by which the state has or claims o
right to take or purchase the property OF
such corporation or any part thereof,
shall be and the same is hereby wholly
extinguisheda and surrendered. $40 cssa
2. And be it enacted, That whenever
any dispute has heretofore arisen, or s hall
hereafter arise, between any railroad or
canal corporation and the state respect
ing taxes in arrears. or taxes heretofore
paid 10 the state, and an award in respeet {
10 such taxes shall have been made, or
shall be hereafter made, By arbitrators
appointed by the state and such
corporation, the performance of such
award by the state and such cor
poration shall be a condition to the effec-
tuation the extinguishment aud surren-
der of the respective rights of the state and
the said corporation; and the said corpOr-
alton shall do all acts and execute all in
struments necessary for the performance
OF Bucn award on It's part, ana the gov
ernor of the state is hereby authorized to
do all acts and execute all instruments
under the seal OF the state necessary for
the performance of such award on the
part of the state and the extinguishment
and surrender of the rights of the state,
aud to manifest the same; and the gov
ernor aud the comptroller shall audit
and allow the expenses of such arbi-
tration on the part of the state and
the fees of the counsel employed by the
state, and such extra compensation TO
the Encouragement as they may think
proper, and also the fees of the arbitrator
appointed by the state. and upon such al
lowanee the treasurer shall pay the same
on the warrant of the comptroller; all
instruments executed and delivered by
the said corporation or by the governor,
in the performance of such award and
for the purposes aforesaid, may be re-
corded in the Office of the secretary of
state and shall be public records, and
shall be lawful evidence in any court OF
this state.
s. And be it enacted, That this act
shall take effect Immediately.
Approved April 2 1890.