shall carry into effect the determination of the electors, and shall have power to provide for and do all incidental things in reference to loans of money or bonds, authorized by electors, and the taking and giving of securities, as have been by them left undetermined.

SEC. 4. Whenever the common council of said city, or the township board of any township, shall deem it advisahle so to do, it may call a meeting of the electors of said city or township to aid in the construction of any such railroad, and shall give ten days public notice by the posting of handbills in at least five public places in each township and ward, and a publication in one or more newspapers, of the time, place and object of such meeting. At the time and place so appointed, the electors of the city or township shall have power to consider and determine any propositions which may be made to aid in the construction of such railroad in any of the ways enumerated in this act, to adjourn from time to time to the same or any other place in such city or township; such meeting may also determine the amount, terms and conditions of any loan of moneys or bonds which it may authorize, and any and all other particulars in relation thereto not determined by this act, nor inconsistent herewith. The question of raising money, as aforesaid, to aid in the construction of said railroad, shall be determined by ballot, but other questions coming before said meeting may be determined by viva voce vote. The qualifications of electors at such meeting shall be those prescribed by the constitution, and if a person not having the qualifications of an elector, shall willfully, and with intent to influence the action there taken, vote in said meeting, he shall, on conviction, be deemed guilty of a misdemeanor.

SEC. 5. It shall be the duty of the mayor of said city, or the supervisor of any township, to call such meeting as is in the last section provided for, by giving the like

notice, whenever requested in writing so to do by thirty of the electors of said city or township; and the meeting assembled upon such call shall possess the same power as when called by a city council or township board. It shall be the duty of the mayor of said city, and of the supervisor of every township which shall have availed itself of the provisions of this act, to procure affidavits of the publishing and posting of notices, and such affidavits, together with the written request, if any, of thirty or more electors, shall be preserved and recorded in the office of the proper city or township clerk.

SEC. 6. Whenever the electors of said city, or either of said townships, shall have voted to aid in the construction of said railroad, in accordance with the provisions of this act, and shall have provided for the issue of any bonds, such bonds, with the coupons which may be annexed, shall be executed as follows: if by said city, they shall be signed by the mayor and the officer who shall act as clerk of the common council, and such bonds impressed with the seal of the city, and if by a township, they shall be subscribed by the supervisor and township clerk. The treasurers of the said city and the townships which shall avail themselves of the provisions of this act, shall have the custody of such bonds and other securities or evidences of debt, as may belong to said city or township for which they act, and shall hold and deliver the same in accordance with the orders of the common council or town board having it in charge to carry into effect the determination of the electors. Such treasurer shall give such additional securities as may be required of him by such board or council, and receive such compensation for his services as the proper board or council shall consider just and reasonable.

SEC. 7. Every such loan shall be made upon the condition that the bonds, bearing interest, of said city or township making the same, shall, at the option of such

city or township, be received by the railroad company at the par value there. Every such bond shall be drawn payable to the order of the treasurer of said city or township, and when endorsed by him shall be negotiable in the hands of any bona fide holder thereof. The said treasurer shall so endorse the same, and append to his endorsement the actual date of the delivery of the same by him, and such bond shall only bear interest from that date. If such bonds shall be negotiated by or under the direction of the proper board or council, any premium which shall be received on the sale of bonds shall be paid into the treasury of said city or township, and be used so as to diminish, as far as may be, the amount of bonds to be issued.

SEC. 8. The interest on any bonds so issued may be made payable either annually or semi-annually, and on such days as the proper board or council may determine, and both principal and interest may be made payable at such point within this State as the said board or council may determine. All moneys received by any treasurer, on account of the transaction hereby authorized, shall be kept a separate fund from all others, and such accounts shall be so kept as to show upon the books of the treasurer the business transacted with such railroad company. The proper local board may, from time to time, give directions as to the manner of keeping such ac

counts.

SEC. 9. It shall be the duty of the proper authorities of said city, and each of said townships which shall have availed itself of the provisions of this act, by loaning its bonds or credit to such railroad company, to levy and collect, annually, such taxes as will pay the interest on the outstanding bonds issued to meet such loan or pledge of credit, and other incidental charges and liabilities connected therewith. In the case of a loan to such railroad company, sufficient taxes shall be annually collected to

pay the interest which shall not be promptly paid by the railroad company. Provision shall be made for the payment of the principal sums which may grow due on such bonds, and for that purpose the proper authorities of said city, and each of said townships availing itself of the provisions of this act, shall also have power to levy and collect, in advance of such bonds becoming due, by an annual tax, a sum not exceeding ten per centum per annum of the principal sums unpaid on such outstanding bonds, to be paid into a sinking fund, and invested in the purchase of such outstanding bonds, or otherwise, in such manner, and under such rules and regulations as may be adopted by the proper authorities. The said city of Battle Creek, and the said townships are hereby severally authorized to levy and collect the said taxes, in addition to those now authorized by law.

SEC. 10. No bonds, money, or other evidences of debt, shall be delivered to the treasurer of any township, city or vilage, for any railroad company, until all the terms and conditions required by the vote of the townships, cities or villages, or the proper authorities thereof, shall have been fully complied with: Provided, That no bonds or other evidences of debt, issued under the provisions of this act, shall be sold for less than their par value, nor such bonds, or other evidences of debt, or the moneys arising from the sale of the same, be delivered or paid over to said company, until the ties shall be furnished and delivered on the line of the road, and the road-bed thereof, including all bridges, culverts, cattle guards, and road crossings, shall be fully completed and ready for the iron, within the limits of the municipalities rendering such aid.

SEC. 11. This act shall take immediate effect.

Approved February 5, 1864.

Schoolcraft and Three Rivers Enabling Act.

AN ACT to authorize the townships of Kalamazoo and St. Joseph counties, on the line of the Schoolcraft and Three Rivers railroad, to aid in the coustruction of said road.

SECTION 1. The People of the State of Michigan enact, That it shall be lawful for any of the several townships of the county of Kalamazoo and St. Joseph to pledge the credit of any such township, to issue bonds or other securities, to levy taxes and to borrow money to aid in the construction of the Schoolcraft and Three Rivers railroad, for any sum not exceeding five per centum of the assessed valuation of the property of any such township, at any special township meeting called for that purpose, as hereinafter directed.

SEC. 2. It shall be the duty of the clerk of any of said townships to call a meeting of the electors thereof, on the written or printed request of fifteen freeholders of his township, which request shall specify the amount to be raised, the mode of raising it, the rate of interest, the time of payment, and such other matters as may be deemed for the interest and security of the township; and in posting notices according to law, he shall also, with each notice, post the request upon which the meeting is called. The questions submitted to the electors shall be those contained in the call for the meeting, and those who vote in the affirmative, shall vote a ballot on which is written or printed, "aid for railroad-yes;" and those who vote in the negative, shall vote a ballot on which is written or printed, "aid for railroad-no.” The meeting shall be conducted in the same manner as annual township meetings are conducted, and the result shall be certified by the board of inspectors and filed in the office of the township clerk.