And the Public Treasurer is also directed to pay the actual expenses incurred by the Committee, appointed by the Senate and House of Representatives, in accompanying the remains to its final resting place. draw. SEC. 2. That the legal representative of the said Hon. D. Representative to J. Rich be allowed to draw, upon certificate from the President and Secretary of the Senate, the per diem and mileage as allowed by law and due said Hon. D. J. Rich at his decease. SEC. 3. That this act shall take effect from and after its passage. Ratified the 10th day of April, A. D. 1869. bridges, &c. SECTION 1. The General Assembly of North Carolina do To repair public enact, That the Commissioners of Halifax County be authorized, in addition to the tax which they may have power to assess under the general revenue laws of the State, to levy a tax of one-tenth of one per cent. on all the taxable property of said County for the purpose of building, repairing and keeping up the public bridges and for the maintenance of the poor of the County. SEC. 2. That the Sheriff of said County of Halifax be authorized and requested to collect such tax and account for the same to the County Treasurer in the same manner and under the like penalty as the other County taxes are now collected and accounted by him. Sheriff to collect. Fund. SEC. 3. That the said tax when collected shall constitute a fund to be set apart exclusively for the purposes hereinbefore set forth. SEC. 4. That this act shall be in force from and after its ratification. Ratified the 10th day of April, A. D. 1869. CHAPTER CLXXXII. AN ACT TO ENABLE THE CHATHAM RAIL ROAD COMPANY TO COMPLETE ITS ROAD. Power to borrow money and issue bonds. Rate of interest. Execute mortgages. SECTION 1. The General Assembly of North Carolina do enact, That for the purpose of supplying funds to enable the Chatham Rail Road Company to complete and equip its Road, the said Company shall have power to borrow money, by the issue of bonds or other evidences of debt, authenticated in such manner as the President and Directors of said Company may deem best, in sums not less than five hundred dollars, at a rate of interest not exceeding eight per cent., principal and interest payable at such time and place as said President and Directors may select, the bonds so issued not to exceed two millions of dollars. SEC. 2. To secure the payment of these bonds and other evidences of debt issued as aforesaid, and the interest thereon, the said Chatham Rail Road Company may execute and deliver mortgage deeds or deeds in trust, signed by the President and countersigned by the Secretary of said Company, conveying its franchise and property, including its Road bed, superstructure, choses in action, and real and personal estate of whatever kind, to the holder of said bonds, or to such parties as said President and Directors may select, in trust for them, and the deeds so executed and registered in the County of Wake shall have priority over any lien or other claim held by this State on the subject matter so conveyed, it being the intent and meaning of this act that the State shall be in the position and have the rights of a second mortgage, subordinate to the liens created Second mortgage by the mortgage or trust deeds aforesaid; that before the said Chatham Rail Road Company shall make or sell any portion of the first mortgage bonds authorized by sections one and two of this act, they shall deliver to the Public Treasurer a second mortgage upon all their estate, both real and personal, which they may now have, or may hereafter acquire, between the City of Raleigh and the terminus of said Rail Road to the South Carolina line, at or near Cheraw, South Carolina, said second mortgage bonds to be in all other respects the same as the first mortgage bonds now held by the State, bearing the same interest and payable in the same manner; and the President of the said Chatham Rail Road Company shall also deposit with the Public Treasurer the sum of one hundred and forty-four Treasurer to dethousand dollars of first mortgage bonds, to be applied to the payment of the interest on the second mortgage bonds. SEC. 3. Any County along the line of the said Chatham County may subRail Road may subscribe to the capital stock of the Company, to such amount as a majority of the Commissioners of said County may determine, subject to the approval of a majority of the qualified voters of the County; and said Commissioners, in order to pay the said subscription, shall have power to issue bonds or other evidences of debt, at a rate of interest not to exceed eight per cent. per annum; said bonds to be issued in such manner and form, payable at such time and place, and authenticated in such manner as they may determine. posit. scribe. tax to pay interest, SEC. 4. In order to pay the principal and interest of the Special Courty bonds issued as aforesaid, the Commissioners of the County, subscribing as above mentioned, shall levy and collect. annually, in such manner as is directed by law in case of taxes for other County purposes, a tax sufficient to pay the annual interest, and they may levy and collect a further tax No subscriptions made till question submitted. to be used in extinguishment of the principal, or else to be invested as a sinking fund for the ultimate redemption of the principal. SEC. 5. No subscription shall be made by the Commissioners of any County as above mentioned until the question of approval or disapproval of such subscription, the issue of bonds or other evidence of debt, and the authority to levy taxes to pay the interest and provide for payment of the principal of the bonds, shall be submitted to the qualified voters of the County, and shall be approved by a majority of those voting. The election shall be held at the usual places of voting. Thirty days' notice shall be given by advertisement in at least two newspapers published in the County, if there be any, at the Court House door, and Publication to be at each of said election precincts. If there be no news made. Commissioners to take measures. papers published in the County, then the advertisement shall be published in some newspaper having, in the opinion of the Commissioners, the widest circulation in the County. The advertisement shall contain a copy of this act, as well as the amount proposed to be subscribed by the Commissioners, and the amount of bonds or other evidences of debt proposed to be issued. Those approving the proposition shall deposit in the ballot box ballots with the printed or written word "approved;" those disapproving the same shall deposit ballots with printed or written words, “not approved;" and if a majority of said voters shall vote "approved," they shall be deemed to ratify and approve the subscription and debt proposed to be made and the tax proposed to be levied. SEC. 6. The Commissioners of any County proposing to subscribe for stock as aforesaid, shall have authority to take all measures consistent with this act, and the laws of the State, for registration of voters, holding the election and returns of the result of the same; and if said subscription be approved, they shall have power to take all measures proper for carrying the same into effect. tions. SEC. 7. The Chatham Rail Road Company shall have Receive subscrippower to receive subscriptions to its capital stock, payable in real or personal property at such valuation as may be agreed on between the Company and the subscriber. It shall not be necessary for the wife to join her husband in the conveyance of any right of way or other interest in real estate of the husband, for any purpose to said Company in order to pass her right of dower or other marital right therein. SEC. 8. The said Company shall have power to take all such securities and mortgages of real and personal estate as it may deem proper to secure the faithful performance of contracts for the construction and repair of said Road, and the buildings and other things incident thereto. Ratified the 10th day of April, A. D. 1869. Securities and mortgages. AN ACT SUPPLEMENTAL TO AN ACT ENTITLED AN ACT ΤΟ SECTION 1. The General Assembly of North Carolina do enact, That whenever the words Clerk of the County Commissioners occurs in section four of Schedule C, the words "Clerk of the Superior Court" be substituted therefor. SEC. 2. That this act shall go into effect after its ratification. Ratified the 10th day of April, A. D. 1869. |