Year: 1872

'le, 1t is q very important law,
the should be read by everybody:
me a BILL TO authorize counties, eli
eii Incorporated villages and to,cnsI
iu' TO Jgad Railroads, and TO lease Z
~, operate tie same.


r,a SECTION l. BE it enacted Jy
de General ASSsm6iy of the State of Oh
ne That it shall be lawful for any coul
au to construct railroad, and to b
ne row as a fund for that purpose.
OF sum not exceeding five per cent.
III the assessed valuation there last ma
v " OF the real and personal property
60 such county, as two thirds of +,
v, electors of such county voting a
au meeting called for that purpose sh


determine; provided, that the to
Vi amount of outstanding Indebtedne
i incurred for anv and all railroads.&c.
- sessed valuation of such county at al
Id one time; provided, that the amour
lp exclusive of interest, which sh.
lie have become due and collectible
D. any one year, shall not exceed Of
e, per cent. OF the assessed valuation
II such county. -..-. --.


SEC. 2. 1t. shall be the duty
d the commissioners of any county {
e call meetings of the electors of sue
' county ct their usual places of voting
7 whenever q written request to do 8
shall be made by one hundred tax
paying electors OF such county; an


the said commissioners shall Civ


thirty days notice to the qualifie,


electors thereof, by publication in
newspaper of general circulation il
SAID county, requiring said elector
to vote for or against the construction


of the proposed road and OF the tim,
of said vote. And the opinion o


said electors shall be expressed OF


their ballots, "Railroad-Yes," Oh


"Railroad-No;' which ballots shal


be counted and returned by the
Judges and clerks of elections as in


other cases provided, that such re-


quest and notice shall specify the


termini of the proposed road, the


amount to be appropriated towards


its construction, The conditions, rate


of interest, time OF payment, and


manner of executing the bonds, and


other particulars in regard to such


appropriation not otherwise provided
herein. Said commissioners, upon


proper request as aforesaid, are here
| by authorized and required to call a
special election for the purpose afore


said, by giving the notice required
hereby; provided, that no county
under the provisions of this act shall
hold more uhan one special election
in one year. A copy of the request
and also ofthe notice and required by
the provisions of this section, shall
be entered at large upon the records
of such county, together with
statement of the result and other
essential particulars, and certified
copy of such record shall be in all
all courts and places priDG Jacie
evidence OF the facts therein set
forth.


SEC. 5. Any county which may
avail itself of the benefit OF this act
as provided herein. shall, within
sixty days after the question OF
constructing any road is determined
by a vote of the electors OF such
county, as provided in section two of
this act, issue its coupon bonds for
the amount so determined TO be ex
pended, which bonds shall be in sums
of not less than fifty dollars each,
and not more than one thousand dol
lars each, and shall be payable at any
time as determined upon by the
electors of such county, not exceed
ing twenty years from the date there
of: such bond shall bear interest at
q rate not exceeding eight (S) per
cent. per aunum, and shall have at
tached thereto the usual and neces-
sary interest coupons, corresponding
in date and numbers with the bonds
to which they aie attached, which
shall be signed by written signature
of the auditor. Such bonds shall be
signed by said county commissioners,
under the seal of said county, and
attested by the auditor OF said
county. The bonds, and the coupons
attached thereto, shall be payable
either at the office of the treasurer of
said county or IN the city OF New
York, as shall be determined by the
vote of said electors, and said bonds
shall not be sold at less than their
par value.


SEC. 4. Whenever any such bonds,
as provided by the provisions OF this
act shall have been issued as therein
specified, the same shall be delivered
by said commissioners to the treas
urer of the state, who shall give
receipt therefor, and hold the same
as trustee for the county issuing the
same, and to be disposed of by said
treasurer in discharge of his trust, as
hereinafter provided. ..


SEC. 5. Upon receipt OF any such
bonds from any county in aid of any
railroad, the treasurer Of this state
shall Immediately register or record
the same in a book, or books, to be
kept by him for that purpose in his
office, which record shall show the
amount, date and number of each
bond, the rate of interest which it
bears, by what county issued, to con-
struct what railroad the such bonds
are issued, and the time when pay
able, which record shall be open for
the inspection of any citizen Of this
state, or other interested parties.
Such bonds shall be safely kept by
said treasurer for the benefit OF the
parties interested, and be disposed of
by him in the following manner, that
is to say: Whenever the county
commissioners shall present an order
for said bonds, from the chief engin-
eer, appointed by The county COM
missioners, that there has been labor
performed and materials furnished in
pursuance of the contract, to the
amount therein specified, it shall then
be the duty of the treasurer OF state
to deliver to the commissioners, or
the person designated in their written
order, bonds to an amount not e1-
ceeding eighty five per cent. OF the
amount of said order. The treasurer
of state shall at all times retain if
teen per cent. of said bonds until
the final completion of the road,
and the Certificate of the chief engin
eer and commissioners is presented
certifying hat fact. The treasurer
shall indorse upon each of said bonds
the date OF such delivery and to
whom the same were delivered, and
shall notify the auditor OF the county
issuing the same of the date OF such
delivery. And in csse any bond so
delivered to said treasurer by any
county shall no., within three years
from the time when the same was


received by him, be demanded in
compliance with the terms oil this


act. the same shall be cancelled by
said treasurer and returned to the


auditor of the county issuing the


same.


SEC. 6 In ease any county shall


avail it-elf of the benefit OF this act


by the issue of bonds or other evi.


deuce of Indebtedness, as by this &C,


provided, such county shall each
year, by its proper authorities, after
! raceivinp the notice as therein nro