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Extraordinary and Adjourned Sessions, Begun and Held in the City of
Columbus, October 14th, 1890, and January 6th, 1891, respectively.
THE WESTBOTE CO., STATE PRINTERS,
[Senate Bill No. 325.]
and to issue bonds therefor, SECTION 1. Be it enacted by the General Assembly of the State Certain of Ohio, That the council of any municipal corporation which, corporations by the federal census of 1880 had, and those which thereafter authorized on the first day of March in any year, as ascertained by any for machinefederal census, may have, a population of ten thousand nine shops. hundred and thirty-eight, is hereby authorized to contract for, and construct machine-shops for railroad purposes exclusively, and purchase real estate therefor, within or adjacent to the corporate limits of such municipal corporation, and for that purpose to issue bonds to the amount not to exceed one hundred thousand dollars, in such denominations and payable at such times as said council shall, by resolution determine. Such bonds shall be signed by the mayor, countersigned by the clerk, and attested by the corporate seal of such municipal corporation, and shall bear interest not to exceed the rate of four and one-half per cent. per annum, payable semi-annually from the date thereof.
SECTION 2. That any such municipal corporation may How bonds negotiate such bonds for cash, or it may deliver the same in posed of, payment for such real estate, or for the construction of such machine-shops; but in no case shall such bonds be disposed of for less than the par value thereof, and accrued interest thereon ; and such municipal corporation may require that no contract shall be awarded until the contractor shall enter into bond to such municipal corporation in double the amount of such contract, conditioned that such contractor shall fully perform all the obligations imposed upon him by such contract.
SECTION 3. That such council is hereby authorized to Machine shops lease said shops to a railroad company or companies, with or kold or conwithout the grounds upon which the same may be built, upon
veyed. such terms, conditions and reservations as may by it be determined, or such council may sell or convey said shops to a railway company or companies, with or without the grounds upon which the same are built, for such consideration and upon such terms, conditions and reservations as may by it be determined, by resolution, not in conflict with the former provisions of this act.
SECTION 4. That the power herein conferred shall in Vote upon no case be exercised by such council until thereto authorized proposition.
Bond of contractor