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548 1891.—Chapter 482.
Counties, town-ships,
cities and
towns authorized
to subscribe.
Election nn qties-llon
of subscM-ip-tion
in counties,
townships, cities
and towns.
Ballots.
Returns.
Subscription to
be made on vote
of majority of
qualifled voters.
Special tax.
Sec. 11. That it shall aud may be lawful for any county, township,
city or town interested in the said railroad to subscribe to the capital
stock oi the said company such sum or sums in bonds as a majority
of all of its qualified voters may authorize, said bonds to bear six
per centum interest, to be payable forty years after date thereof, and
to be of the denominations of one hundred and five hundred dollars,
interest payable semi-annually, the bonds to be received by the com-pany
at par.
Sac. 12. That upon the petition in w^riting of one-fourth of the
freeholders, being qualified voters of any county, township, city or
town interested in the construction of the said road, specifying
therein the amount they wish subscribed, the board of commissioners
of the county or the municipal authorities of the city or town shall
order and provide for an election to be held within sixty days in said
county, township, city or town, of which election a notice of at
least thirty days shall be given in some newspaper published or
circulating in such county, township, city or town, for the purpose
of ascertaining the wish of the qualified voters thereof as to whether
they will subscribe the sum mentioned in the petition or not ; that
said election, when held in and for a county or township, shall take
place and be conducted in the manner prescribed by the law for
electing members of the general assembly ; that those who favor
said subscription shall vote on a written or printed ballot " For rail-road,"
and those opposing said subscription shall vote on a written
or printed ballot "Against subscription;" that the return of said
elections in the counties and townships shall be made to the county
commissioners, and in the case of cities and towns shall be made to
the municipal authorities thereof ; that the commissioners or munic-ipal
authorities, a« the case may be, shall canvass the same and
declare the result and make a record thereof ; that if a majority of
all the qualified voters in the county, township, city or town shall
vote " For railroad," then the chairman of the board of commis-sioners
in all cases of county or township subscriptions are authorized
and required to subscribe to the capital stock of said company, in
behalf of said county or township, the sum which has been fixed or
named in said petition, and in case of city and town elections, if a
majority of all the voters shall vote " For railroad," then the proper
corporate authorities of such city or town are authorized and
required to subscribe in behalf of such city or town in like manner
as the county commissioners are herein required to subscribe in all
cases of county and township subscription.
Sec. 13. That in order to make provision for the payment of inter-est
on said bonds and their redemption at maturity, the said board of
commissioners and the said municipal authorities, as the case may
be, shall, in addition to the other taxes for each year, compute and
levy on all property and each poll in such county, township, city or
Object Description
Description
| Title | Page 596 |
| Full Text | 548 1891.—Chapter 482. Counties, town-ships, cities and towns authorized to subscribe. Election nn qties-llon of subscM-ip-tion in counties, townships, cities and towns. Ballots. Returns. Subscription to be made on vote of majority of qualifled voters. Special tax. Sec. 11. That it shall aud may be lawful for any county, township, city or town interested in the said railroad to subscribe to the capital stock oi the said company such sum or sums in bonds as a majority of all of its qualified voters may authorize, said bonds to bear six per centum interest, to be payable forty years after date thereof, and to be of the denominations of one hundred and five hundred dollars, interest payable semi-annually, the bonds to be received by the com-pany at par. Sac. 12. That upon the petition in w^riting of one-fourth of the freeholders, being qualified voters of any county, township, city or town interested in the construction of the said road, specifying therein the amount they wish subscribed, the board of commissioners of the county or the municipal authorities of the city or town shall order and provide for an election to be held within sixty days in said county, township, city or town, of which election a notice of at least thirty days shall be given in some newspaper published or circulating in such county, township, city or town, for the purpose of ascertaining the wish of the qualified voters thereof as to whether they will subscribe the sum mentioned in the petition or not ; that said election, when held in and for a county or township, shall take place and be conducted in the manner prescribed by the law for electing members of the general assembly ; that those who favor said subscription shall vote on a written or printed ballot " For rail-road," and those opposing said subscription shall vote on a written or printed ballot "Against subscription;" that the return of said elections in the counties and townships shall be made to the county commissioners, and in the case of cities and towns shall be made to the municipal authorities thereof ; that the commissioners or munic-ipal authorities, a« the case may be, shall canvass the same and declare the result and make a record thereof ; that if a majority of all the qualified voters in the county, township, city or town shall vote " For railroad," then the chairman of the board of commis-sioners in all cases of county or township subscriptions are authorized and required to subscribe to the capital stock of said company, in behalf of said county or township, the sum which has been fixed or named in said petition, and in case of city and town elections, if a majority of all the voters shall vote " For railroad," then the proper corporate authorities of such city or town are authorized and required to subscribe in behalf of such city or town in like manner as the county commissioners are herein required to subscribe in all cases of county and township subscription. Sec. 13. That in order to make provision for the payment of inter-est on said bonds and their redemption at maturity, the said board of commissioners and the said municipal authorities, as the case may be, shall, in addition to the other taxes for each year, compute and levy on all property and each poll in such county, township, city or |
