Imágenes de páginas
PDF
EPUB

in his hands for that purpose, and indorse the payment upon said bonds, or take such vou her as he may prescribe. He shall also keep an account with each township of all money received and paid by him on account of said township, which account shall at all times be open to inspection. by all persons wishing to examine the same.

cast vote.

15. At all elections for officers, and on all questions Supervisor to voted on by the stockholders of said company, the supervisor of the township or townships who may subscribe to the stock of said company, shall represent and cast the vote which said stock is entitled to, in person or by lawful proxy; and in case the supervisor is absent or unable to act, and has not appointed a person to act as proxy, then the township clerk shall be vested with the same powers as are herein given to the supervisor.

and hold real es

tate.

May

receive

16. The said corporation is hereby empowered to pur- May purchase chase, receive and hold such real estate as may be necessary and convenient in accomplishing the objects for which this incorporation is granted, and may, by their agents, engineers or surveyors, enter upon, take possession of and use all such lands and real estate as may be necessary for the construction and maintenance of said railroad and the appendages and accommodations requisite and appertaining thereto; and n ay also receive, take and hold all such voluntary grants and donations of lands and real estate as gifts, etc. may be made to said corporation for the purpose aforesaid. And in case said company shall not be able by purchase or voluntary cession to acquire the right of way and grounds for said railroad, appendages and accommodations, and grounds of stone or gravel for the purpose of building, ballasting or repairing the same, or any of them, and the right of way to such grounds of stone or gravel, said company are empowered to take, condemn and use, or otherwise to lawfully obtain and use the same respectively, under the provisions of any of the laws of this state now in force in that behalf, and authorizing the appropriation of lands for right of way for such purposes.

17. The rights of way and other real estate purchased Right of way. by said company for any of the purposes aforesaid shall be Real estate. held by them in fee simple, and any such rights of way, or real estate taken, condemned or appropriated, as aforesaid, shall upon due fulfillment, by said company, of the conditions prescribed by law to be by them performed or observed to entitle them to such property, also be held by said company in fee simple.

18. The said company shall have power to borrow May borrow money on the credit of the company, at a rate of interest money. not exceeding ten per centum per annum, payable semiannually, and may execute bonds therefor with interest coupons thereto annexed, and secure the payment of the same by mortgage or deed of trust on the whole or any Vol. III-18

Sale of bonds.

Payment of bonds, secure.

Intersections.

Injury to road, penalty for.

part of said railroad property, income and franchises of the company then existing or thereafter to be acquired; and may annex to said mortgage bonds the privilege of converting the same into the capital stock of the said company at par, at the option of the holders, if such election be signified in writing to the company, three years before the maturity of such bonds.

19. The directors of said corporation are hereby authorized to negotiate and sell the bonds of the company at such times, and in such places, either within or without this state, and at such rates and at such prices, as will in their opinion best advance the interests of the said com pany; and if said bonds are so negotiated or sold at a discount, below their par value, such sale shall be as valid and binding on the said company, in every respect, as if they were sold or disposed of at their par value.

$ 20. The said company, in securing the payment of said bonds by mortgage or deed of trust on the road, property, income and franchises of said company, shall have power to execute a mortgage or deed of trust aforesaid, to secure the payment of the full amount of bonds which the company, at the time the said mortgage or deed of trust bears date or at any time thereafter, desires to sell and dispose of; and may execute and sell, from time to time, such amount of said bonds, and of such dates, and payable to such persons, as the directors of said company may deem advisable, till the whole amount of bonds mentioned in such mortgage or deed of trust is executed and sold; and the said mortgage and deed of trust shall be as valid and effectual to secure the payment of the bonds so executed and sold, and every part thereof, as if the same and every part thereof, had been executed with even date with said mortgage and deed of trust.

$21. Whenever it shall be necessary for the construction of said railroad to intersect or cross the track of any other railroad, or stream of water or water course, road or highway, on the route of said railroad, it shall be lawful for the company to construct their railroad upon the same: Provided, that the said company shall restore the railroad, stream of water, water course, road or highway, thus intersected or crossed, to its former state or in a sufficient manner not materially to impair its usefulness: And provided, further, that said corporation may construct and maintain a drawbridge or such other kind of bridge across the Illinois river as shall be sufficient to subserve the purpose of said railroad and shall not materially obstruct the naviga. tion of said river.

$22. If any person or persons shall willfully or negligently do or cause to be done, any act or acts whatever, whereby the said railroad, or any part thereof, or any building, construction or work of said company, or any en

gine, machine, structure or matter or thing appertaining to the same, shall be stopped, obstructed, weakened, impaired injured or destroyed, the person or persons so offending shall forfeit and pay to the said company treble the amount of the damage sustained by reason of such offense, to be recovered with costs of suit in the name of said company, by action of debt, and such offender or offenders shall be deemed guilty of a misdemeanor and be subject to indictment and punished as in other cases.

any

other loads.

§ 23. The said company is hereby authorized to unite May unite with or consolidate its railroad and property with that of other railroad company or companies, whose line or lines of road may intersect or connect by continuous lines, or at either terminus; or it may purchase, lease, sell, or make any arrangement it may deem proper with any such railroad company, or with any other company whose line of road may form a continuous line with the railroad hereby authorized to or from either terminus, and in the event of consolidation, the companies so consolidating may take upon themselves any name and style of designation they Change name. may think proper, and they shall be vested with all powers, privileges and franchises of each or both or all of the companies, and may borrow money upon mortgage or deed of trust upon the property of one or all of said companies at their option: Provided, that this section shall not be so construed as to allow any consolidation or arrangement materially diverting the road herein authorized to be built, from the line herein contemplated.

$24. The said company may take and transport on said railroad any person or persons, merchandise or other property by whatever motive or propelling power and force it may deem proper, and may fix, establish, take and receive such rates of toll or freight for all passengers and property transported upon the same, and for the storage of merchandise and other property under their charge, as the directors from time to time shall establish, and shall have power to provide all necessary stock and materials for the operation of said road, and shall have power to erect and maintain all necessary depots, stations, shops and all other buildings and machinery for the accommodation, operation and management of said railroad.

$25. This act shall be deemed a public act, and shall be favorably construed for all purposes herein declared and expressed, and shall be in force from and after its passage.

APPROVED March 31, 1869.

Propelling

power.

[ocr errors]

In force March 31, 1869.

subscriptions of stock.

AN ACT in relation to the Mount Vernon Railroad Company. SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That the Elections for election held in Jefferson county on the third day of June, in the year of our Lord one thousand eight hundred and sixty-seven, authorizing the county court of said Jefferson county to subscribe one hundred thousand dollars to the capital stock of the Mount Vernon Railroad Company and issue county bonds of said county in payment of such subscription, is hereby declared to be legal and valid; and any defects that may have occurred in the form of notice of said election is hereby declared to be cured, and said county court is hereby authorized to sell or otherwise dispose of its said subscription in such manner as said court may deem best. $ 2. The board of directors of said railroad company are hereby authorized to borrow money for completing and equipping its railroad, and issue and dispose of its bonds, with any rate of interest, not exceeding ten per centum, per annum, and to mortgage the said railroad and any or all the property and franchises belonging to said company, Bonds secured or to convey the same, by deed of trust, to secure the payment of any bonds to be issued by said company, or to secure the payment of any debt to be contracted by said company; and the said company is hereby authorized to mortgage, or sell and convey, or convey by deed of trust, whatever equitable interest it may have or may hereafter acquire in the swamp lands of said county, and to place in pledge or to transfer or otherwise to dispose of its rights to the county bonds mentioned in the first section of this act, to be issued at the completion of said railroad to Mount Vernon.

May money.

borrow

by deeds trust.

May lease or 3. The board of directors of said company are hereby sell franchises. authorized to sell or lease the said railroad to any other railroad company in this state for running a continuous line, or making any contract it may deem judicious for the operating of its said railroad; and any bond, deed, lease or contract of said company shall be valid and binding on said company, when signed by its president and countersigned by its secretary, with the corporate seal attached.

Sale of road bed

4. The sale of the road-bed and franchises of said company, under decree of the United States cicuit court for the southern district of Illinois, is hereby notified, and all the property, rights and franchises of said railroad company are declared to be vested in the purchases at said said sale under said decree, or their assigns.

§ 5. This act is hereby declared tobe a public law, and shall take effect from and after its passage. APPROVED March 31, 1869.

AN ACT to incorporate the Naples, Exeter and Vandalia Railroad In force March Company.

29, 1869.

SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That Corporators. Thomas Kerner, Elihu Armitage, Henry Dresser, John C. Hagler, John R. Woods, George G. Terry, Charles B. Hubbard, and Melville Leighton, and their associates, successors and assigns, are hereby created a body politic and corporate, by the name and style of the "Naples, Exeter and Name and style. Vandalia Railroad Company," with perpetual succession;

and, by that name and style, shall be and are hereby made Corporate powcapable in law and equity to sue and be sued, plead and be ers. impleaded, defend and be defended, in all courts of law and equity in this state or elsewhere; to make, have and use a common seal, and alter the same at pleasure; and, by that name and style, shall be capable, in law, of taking, holding, purchasing, selling, leasing and conveying real estate and property, personal and mixed, so far as the same may be necessary for the purpose hereinafter named, and not further; and shall be and are hereby vested with all the powers, privileges and immunities which may be necessary to carry into effect the object and purpose of this act.

Construction

2. The said company shall have power and authority to locate, construct, finish, maintain and operate a railroad, railroad, etc. with one or more tracks, and all necessary side tracks, commencing at Naples, in Scott county, running thence, by Route of road. way of Exeter, Winchester and Manchester, in Scott county, thence, upon the most direct, eligible route, to the town of Vandalia, in Fayette county, the route to be selected by said company; and, for the purpose of constructing the Machinery, etc. said railroad, said company shall have power to lay out and establish their said road, in width not exceeding one hundred feet, through the entire length thereof, and, for the purpose of constructing bridges, dams, embankments, excavations, engine houses, depots, station grounds, machine shops, turn-outs, and all other buildings, fixtures and appendages necessary and suitable for the construction, altering, maintaining and operating said road, and also for obtaining necessary stone, gravel and rails, the said company may take, use and occupy all necessary lands on either side of said road in pursuance of law.

3. The said company shall have power to take and Donations hold all such voluntary grants and donations of real and personal property, to aid in the construction, maintaining and operating said road, and to take such conveyances, in fee or otherwise, to the company, their successors or assigns; and all such property so acquired or purchased shall become the property of said company, their successors and assigns, upon payment of the purchase money in case of purchase,

« AnteriorContinuar »