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In force February AN ACT to facilitate and authenticate the formation of a corporation by the 21, 1863.
purchasers or future owners of the Racine and Mississippi Railroad.
SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, In case the
railroad of the Racine and Mississippi Railroad Company, aceedings in or any part of the said railroad, lying within this state, case of sale of shall be sold by virtue of any mortgage or mortgages, deed
or deeds of trust, either by foreclosure or other proceedings in law or equity, or by advertisement, in pursuance of a power or authority in any such mortgage or deed of trust contained, or in case the title to said railroad shall pass from the present owners, in any manner whatever, then the purchaser or purchasers, or the future owner or owners, his or their associates, successors or assigns, if desiring to form a corporation, under or by virtue of the laws of this State or of the State of Wisconsin, or of both of said States, may file in the office of the Secretary of State of this State a certificate, specifying the name of said corporation, the number of the directors, and the names of the directors for the first year, as designated in the said certificate, or as directed by the said purchaser or purchasers, owner or owners, their successors or assigns; which certificate shall be signed by the said purchaser or purchasers, owner or owners, or the survivor of them, or their or his successors or assigns; and upon the filing of any such certificate, the persons who shall have signed the same shall be a body politic and corporate, by the name stated in such certificate ; and the said corporation shall possess all the privileges, powers, authorities and capacities acquired by the said purchaser or purchasers, owner or owners, or possessed by the said Racine and Mississippi Railroad Company, by virtue of any law of this State or of the State of Wisconsin.
§ 2. Said new corporation, when so organized, shall have full power to consolidate their capital stock with that of the Northern Illinois Railroad Company or that of the Racine and Mississippi Railroad Company, in Wisconsin, or its successors, or both, and also with that of any other connecting railroad, and thereby to form a new company, which consolidated company may
may agree upon, and shall have all of the powers of each of the consolidated companies. The articles of consolidation shall be (signed] by the parties interested, shall specify the names of the directors for the first year, and the number of the directors, and the name of the corporation, and shall be filed in the office of the Secretary of State of this State; and, upon the filing of such articles of consolidation, the parties interested shall be a body politic and corporate, by the name stated in such articles of consolidation, and shall possess all the privileges, powers, authorities and capacities possessed by each and all of said companies before such consolidation.
Consolidation of stock.
§ 3. The Northern Illinois Railroad Company is hereby Northern Illinois authorized to enter into any such consolidation as is mentioned in the preceding section, upon a vote of a majority of its board of directors.
§ 4. Any corporation, incorporated by virtue of this act, Shares of stock. may decide how many shares of stock shall represent its capital stock, and the amount of each share, and may issue preferred stock, or special stock, or otherwise divide its stock into classes.
$ 5. Any such corporation shall have full power to mort- Mortgages. gage, lease or pledge its said road, or any portion of the same, and any other estate, real, personal or mixed, of which it may be seized at the time of, or which it may acquire after the execution of such mortgage, deed of trust, or other instrument in writing, to secure any bonds or indebtedness or evidence of indebtedness of such corporation, or to pay for the whole or any part of the purchase money or cost of the road, or any of the indebtedness of the original corporation, which it may agree to assume.
$ 6. Any such corporation is hereby authorized and fully Borrowing empowered, in its corporate capacity, to borrow any sum or sums of money, from any person or persons, corporation or
, body politic, of any kind, and for any rate of interest which may be agreed upon by and between such company and the party from whom such money may be obtained, and to make, execute and deliver, in or out of this State, all necessary writings, notes, bonds, bills, mortgages, deeds of trust, and all other papers or securities, in amount or kind, as may be deemed expedient by said corporation, in consideration of
such loan or in discharge of any liability they may incur in the purchase, construction, repair, equipment or operation of said road, or in any of the transactions of said company. And said company is hereby authorized, in its corporate capacity, to make, execute, issue and deliver its bonds or obligations, in such amounts as the directors of said company shall deem for the best interests of said company; and the issue of bonds. directors of said company shall prescribe the sum or sums for which each of said bonds shall be issued, and the time or times and place or places when and where the principal and interest of the same shall be payable, the rate of interest which said bonds shall bear, and the manner and form in which the same and the interest coupons annexed to the same shall be executed. And to secure the payment of any and all of said bonds, the said company is hereby authorized and empowered, in its corporate capacity, to make, execute and deliver a mortgage or mortgages or deed or deeds of trust upon the whole or any part of said railroad, constructed or not constructed, and authorized to be purchased by this act, and upon any other and all of its estate, real, personal or mixed, in possession or expectancy. And the Mortgages and said company is hereby authorized and empowered, in and deeds of trust.
by such mortgage or deed of trust, to confer upon the mortgagee or trustee full and ample power to enter into and upon and take possession of, have, use and enjoy, or sell and dispose of the whole or any part of said railroad or estate, real, personal or mixed, together with the functions pertaining to said railroad, and all other corporate and other franchises, rights and privileges of the said railroad company; to take up and remove any of the track or fixtures belonging to said railroad. And the directors of said company shall prescribe all matters relating to the form and terms of said mortgage or deeds of trust, and the manner and mode for the execution of the same, and may provide for the payment of the principal and interest secured to be paid by such bonds, either by the creation of a sinking fund out of the earnings of said railroad company, or in any other manner that they may deem best for the interest of said company; and said company may, by its agents, in or out of the State, sell, dispose of or hypothecate such bonds, when so issued as aforesaid, at par or at any other price, greater or less than par, or for such sum or sums as they may think
proper. $ 7. Any such corporation may direct how the board of directors shall be chosen, and that they may be chosen either by the bondholders or by the stockholders, or by both, in such manner as the corporation may direct.
$ 8. It may be lawful for the meetings of the bondholders, stockholders, directors or officers of any such corporation, to be held within or without this State, at such time and place or places, as the by-laws of said company or the board of directors may, from time to time, appoint.
$ 9. This act shall be a public act, and shall be in force from and after its passage.
APPROVED February 21, 1863.
Choosing of directorg.
Meetings of directors, etc.
In force January AN ACT to incorporate the Evansville and St. Louis Railroad Company. 7, 1863.
SECTION 1. Be it enacted by the People of the State of Ilinois, represented in the General Assembly, That Edwin Beecher, R. T. Foarth, Charles Wood, N. P. Branch, Edward Bonham, F. George, J. J. R. Turney, Thomas Cooper, S. J. R. Wilson, Daniel Wingate, Peter Prunty, Simon Johnson, John Trousdale, George Weed, William Gray,
John Keen and Harris Woodward, and their associates and Corporate name. assigns, are hereby created a body corporate and politic, under
the name and boys with perpetual succession, with all the
§ 2. Said company is hereby authorized and empowered Location to locate, complete, construct and to maintain, equip and route. operate a railroad, with a single or double track, and with such appurtenances as may be deemed necessary by the directors for the convenient use of the same, from Grayville, in White county, by the way of Fairfield, in Wayne county, and by the most eligible route, to Saint Louis, Missouri; and, for this purpose, to enter upon and take a strip of land, one hundred feet wide, the entire length of said road, and to survey and determine the line of said road upon such route.
§ 3. The persons named in the first section of this act subscriptions. are hereby appointed commissioners, who, or a majority of whom, may open books for subscription to the capital stock of said company, giving notice of the times and places when and where said books will be opened, at least thirty days previous thereto, by publication in one newspaper, published in the counties of White and Wayne, and in the city of Saint Louis. The said commissioners, or a majority of them, shall attend at the places appointed, and receive subscriptions to the capital stock of said company, until the sum of one hundred thousand dollars shall have been subscribed; when said commissioners shall give twenty days'
! notice, in a newspaper published in each of said places, of an election, by the stockholders, of a board of directors.' The Election of dicommissioners, or a majority of them, shall act as inspectors of said election. The stockholders present shall proceed to elect seven directors, by ballot. The directors, so elected, shall hold office for one year, and until their successors are elected and qualified.
§ 4. The capital stock of said company shall be one mil- Capital stock. lion of dollars, divided into shares of one hundred dollars each, At all elections for (lirectors, each stockholder shall be entitled to one vote for each share of stock held by him. The directors shall hold their offices for one year, and until their successors are elected and qualified, and shall elect one of their number as president of said board.
§ 5. This act shall be in force from and after its passage, and shall be deemed and taken as a public act.
APPROVED January 7, 1863.
AN ACT to legalize the assessment of school directors of school district No. In force January two, in McHenry township, in McHenry county,
WHEREAS the school directors of district No. two, in Mc
Henry township, in McHenry county, State of Illinois, did levy a tax, according to law, of two dollars on each
one hundred dollars of all the taxable property in said district, for the purpose of paying the indebtedness of said district, as is by law required; and whereas, by mistake, the proper return was not made to the county clerk, and consequently, no school tax was entered on the collector's book for said district; and whereas said directors did, on the nineteenth day of December, A. D. 1862, levy a tax of two dollars on each one hundred dollars of all the taxable property in said district, to supply said deficiency; therefore, SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That the assessment and levy of a tax made by the directors of school district No. two, in McHenry township, McHenry county, Illinois, on the nineteenth day of December, A. D. 1862, of two dollars on each one hundred dollars of all taxable property in said district, for school purposes, be and the same is hereby made and declared valid in law; and the county clerk of said McHenry county is hereby authorized and required to extend the same, immediately, on the collector's book for the said McHenry, township, to be collected and paid over the same as though no error had been made by said directors.
§ 2. This act shall take effect and be in force from and after its passage.
APPROVED January 17, 1863.
In force February AN ACT to amend an act entitled “An act to establish the Lincoln School 21, 1863.
District, in Logan county," approved February 24th, 1859.
WHEREAS the inhabitants of the extreme eastern portion of
the Lincoln school district, in Logan county, as established by an act of the General Assembly, approved February 24th, 1859, in consequence of the distance of the school houses located in said district, and their inaccessibility during certain portions of the year, by reason of the im. passable condition of the roads, are, in a great measure, deprived of the advantages enjoyed by the inhabitants of the remainder of said school district; therefore,
SECTION 1. Be it enacted by the People of the State of
Illinois, represented in the General Assembly, That sections Portion of distria twenty-five, (25,) and twenty-six, (26,) and thirty-five, (35,)
and thirty-six, "(36) in township twenty, (20,) north, of range two (2,) west, being the four easternmost sections of said Lincoln school district, be and the same are hereby cut off and set apart therefrom; and the territory so cut off is hereby remanded to the jurisdiction of the trustees of schools