it be necessary, shall levy a tax, not exceeding twenty-five cents on the one hundred dollars worth of taxable property within said county, for the purpose of raising a Fund for the payment of said bonds, to be styled the "Railroad Fund." Said taxes Railroad shall be levied and collected in the same manner as general taxes Fund. for county purposes, and, when collected, shall be paid to the County Treasurer, who shall account for and deliver the same over to said Railroad Commissioners, whose duty it shall be to apply the same as follows: First-The Railroad Interest Tax, to the payment of the interest falling due on said bonds. Second-The Railroad Fund, to the redemption of said bonds. as hereinafter provided. Fund. SEC. 9. If there shall be collected as such Railroad Interest Surplus in Tax, in any one year, a sum greater than is required to pay the Interest annual interest on the bonds issued under the provisions of this Act, it shall be the duty of the said Railroad Commissioners to transfer such surplus to the said Railroad Fund. Railroad SEC. 10. It shall be the duty of said Railroad Commissioners Duty of to make arrangements for the payment of the interest on said Commisbonds at least thirty days before the same falls due; and in the sioners. event said Interest Fund shall be insufficient to meet such payment, the said Board of Supervisors shall, by an order entered upon their journal, direct the Auditor of said county to draw a warrant upon the Treasurer of said county, payable out of the General Fund of said county, for such deficit; and such warrants shall be paid by said Treasurer in preference to all other warrants drawn upon the General Fund; and in the event there shall be no money in the General Fund of said county with which to pay said warrants, at the time of their presentation, it shall be the duty of the said Railroad Commissioners to sell such warrants upon such terms as are reasonable and fair, and pay the proceeds of such sale into said Interest Fund; and in the event these sources prove inadequate, the said Railroad Commissioners are hereby authorized and directed to make such contracts and arrangements as may be necessary for the payment of said interest, and the protection of the faith and credit of said county. The warrants mentioned in this section shall be drawn payable to the order of the said Railroad Commissioners. of bonds SEC. 11. Whenever, at any time, there shall be in said Rail- Redemption road Fund a sum of money amounting to two thousand dollars with surplus or upwards, the said Railroad Commissioners shall advertise, in a public newspaper published in said county, for the space of four weeks, for sealed proposals for the redemption of said bonds; and ten days from the expiration of the time for such publication, said Commissioners shall open said proposals, and shall pay and liquidate, as far as the Railroad Fund then in hand shall extend, such bonds presented under said proposals as shall have the lowest value proposed at which they may be redeemed and liquidated; provided, the same shall not be more Proviso. than the par value thereof; and, provided, that, should there be no proposals made for less than par value, the payment of said Railroad Fund on hand shall be made on said bonds according to the number of their issue, of which payment said Commis Cancellation officers. sioners shall give four weeks notice, to be published in some newspaper published in said county, specifying the numbers of the bonds to be paid, after which time such bonds shall cease to draw interest; and, provided, whenever there may be moneys in said Railroad Fund sufficient for the extinguishment of the outstanding bonds issued under the provisions of this Act, it shall be the duty of said Commissioners to advertise in like manner, for the space of four weeks, for the redemption of all of said bonds, after which time said bonds shall cease to draw any interest. All moneys remaining in said Railroad Fund after all of said bonds shall have been redeemed, shall be paid by said Commissioners to the County Treasurer, who shall pay one third thereof into the School Fund, and the residue into the General Fund of said county. SEC. 12. Whenever any bonds shall have been paid and redeemed by said Commissioners, they shall mark the same "cancelled," over their signatures as Commissioners, and shall immediately deliver the same to the County Clerk, taking his receipt therefor, and the said Clerk shall file said cancelled bonds in his office. Liabilities of SEC. 13. The said Commissioners, and all other officers herein mentioned, shall be liable on their official bonds for the faithful performance of all of the duties required of them under the provisions of this Act, and shall in all things herein required of them, be subject to all the liabilities and penalties to which they are subjected in the performance of any other of the duties of their respective offices; and said Commissioners and other officers shall receive no other fees or compensation for the services required of them under the provisions of this Act than such as are allowed by law for the performance of the duties of their respective offices. Powers of SEC. 14. The said Board of Supervisors shall have authority Supervisors to authorize a committee of any one or more of their number, or any other person or persons, to cast all votes representing the capital stock so subscribed by them at all meetings of the stockholders of the said Placerville and Sacramento Valley Railroad Company; and they shall, by order made and entered upon their journal for that purpose, have full power to sell, transfer, and assign said capital stock, or any part thereof, so taken by them under the provisions of this Act, whenever, on a submission to the qualified electors of said county, at any county, or general, or special election, of a proposition to sell the same, a majority of those voting upon said proposition shall vote in favor thereof. Rights and powers of Supervisors. SEC. 15. Said Board of Supervisors shall have all the rights and powers appertaining to any other subscriber to the stock of said railroad company, and shall receive all of the dividends, issues, and profits arising from the capital stock so subscribed by them; and it shall be their duty to set apart and transfer all such dividends, issues, and profits, together with all taxes which may be, from time to time, paid to said county by said railroad company, to the said Railroad Fund, to be applied by the said Railroad Commissioners to the payment of the interest and principal of the bonds issued under the provisions of this Act, in the manner provided by section eleven of this Act; and after the full payment of all of said bonds, both principal and interest, the said dividends, issues, and profits, arising from said stock subscription, shall be applied as follows: one third part thereof to the School Fund of said county, and the remaining two thirds to the General Fund of said county. SEC. 16. The subscription of stock authorized by virtue of Liability of the provisions of this Act, shall be made by said Board of Su- county. pervisors on the books of said railroad company, upon the express condition that the said county shall not be liable for any of the debts or liabilities of said company beyond the amount so subscribed, and this provision as to the liability of said county shall be a part of and expressly stipulated in all contracts made by said company for the construction and equipment of said road; and in case the said company shall fail or refuse to make such stipulation in all of their said contracts, the said Board of Supervisors shall have power to declare said subscription void Powers of and of no effect, and may recover, by action brought in the name Supervisors. of said county, in any Court of competent jurisdiction, from said company, any previous payments that may have been made thereon at the time of such failure or refusal. And said county shall never make any other or further subscription to the capital stock of said company than that provided for by this Act. SEC. 17. No bonds shall be issued under the provisions of this Restriction. Act until all that portion of said railroad lying in Sacramento County shall have been graded and put in a condition to receive the ties and iron. SEC. 18. The said Board of Supervisors may and shall refuse Condition. to make the stock subscription provided for by this Act unless the City of Placerville shall, in pursuance of some law now passed, or hereafter to be passed, subscribe the sum of one hundred thousand dollars to the capital stock of said railroad company. SEC. 19. It shall be the duty of said Board of Supervisors to Publication cause this Act to be published for the space of two weeks in some of Act. newspaper published in said county; and such publication shall be completed at least one week prior to the election mentioned in the first section of this Act. SEC. 20. This Act shall be taken and deemed a public Act, and shall be in force and take effect from and after its passage. CHAP. CXI.—An Act granting to F. K. Bechtel, and others, the right to erect Gas Works and lay Gas Pipes, for the purpose of supplying the Town of Aurora with illuminating gas. [Approved March 28, 1863.] The People of the State of California, represented in Senate and SECTION 1. F. K. Bechtel, John S. Mayhugh, D. C. Crooker, Grantees. their associates, and successors, shall have and possess all the rights, privileges, franchises, and immunities, hereinafter mentioned, upon condition that they and their associates shall, Franchise. Rights of company. Conditions. Same. Same. To give bonds. within the time hereinafter specified in this Act, incorporate themselves under the general laws of this State, and shall adopt the name of the Aurora City Gas Company, and shall abide by and fulfil the further conditions hereinafter mentioned. SEC. 2. The said Aurora City Gas Company shall, for and during the period of twenty years next ensuing the approval of this Act, have and possess the privilege of supplying the Town of Aurora, in the County of Mono, and State of California, and the inhabitants, residents, and people of said place, with illuminating gas. SEC. 3. The said company shall have the authority to erect within the town limits of Aurora, the necessary buildings, works, and machinery, for the manufacture or production of illuminating gas; to make the necessary excavations in the public streets of said town for the purpose of laying gas pipes therein, and to re-open the said excavations for the replacement or repair of said pipes; provided, that the streets of said town shall not be obstructed to an unnecessary degree, or for an unnecessary period of time while such pipes are being laid.. SEC. 4. The said F. K. Bechtel, John S. Mayhugh, D. C. Crooker, and their associates, shall, within nine months after the approval of this Act, proceed to organize themselves under the general Act of incorporation, as provided in section one of this Act, and shall then be liable for all the duties and obligations, and subject to all the penalties in such general Act of incorporation made and expressed. SEC. 5. The said company shall, within the period of fifteen months from and after the approval of this Act, commence the construction of the works necessary for the manufacture or production of illuminating gas, and shall, within the period of three years from and after the approval of this Act, complete the same. SEC. 6. After the said gas works shall have been completed, the said company shall furnish the Town of Aurora, free of charge, the first year, five lights; the second year, ten lights; and thereafter, fifteen lights; and the said light shall be furnished at such places as the authorities of said town may direct; the lamp-burners and the lamp-posts to be provided by the proper authorities of said town. SEC. 7. For the faithful performance of the terms of this grant, on the part of the grantees, their associates, or assigns, a bond to the Treasurer of said County of Mono, in the sum of fifteen hundred dollars, with two or more sufficient sureties, to be approved by said Treasurer, shall be executed within three months from and after the passage of this Act, by the said grantees, their associates, or assigns, and shall be filed in the office of the said Treasurer; and upon the forfeiture of said bond by the non-performance of the terms of the grantees, as specified in this Act, it shall be the duty of the District Attorney for the County of Mono, to bring an action for the amount thereof, and upon recovery to have the amount of said bond, with costs of suit, paid into the Treasury of said county; and in case said bond shall not be executed, approved, and filed, as provided in this Act, or in case of the non-performance of any of the terms and conditions of this Act, by said grantees, their associates, and assigns, required to be performed, then the franchises and privileges herein granted shall utterly cease and determine. CHAP. CXII. An Act concerning Redemptions of Real Estate in cer tain cases. [Approved March 28, 1863.] The People of the State of California, represented in Senate and SECTION 1. No real estate shall be redeemed from any sale Payment by made under execution for taxes, unless the amount of redemp- Redemption money which the law requires to be paid is paid in the same kind of money which the law requires to be paid for taxes; and all purchasers of real estate, when such real estate is sold on a judgment for taxes, shall pay the purchase money in the same kind of currency in which taxes are required to be paid. SEC. 2. This Act shall take effect immediately. CHAP. CXIII-An Act to exempt certain property belonging to the [Approved March 28, 1863.] The People of the State of California, represented in Senate and SECTION 1. That certain lot of land, with the improvements Exemption. thereon, situate, lying, and being in the town of Aurora, Mono County, California, at the northwest corner of Spring and Silver streets, in said town of Aurora, fronting (80) eighty feet on Silver street, and running back, same width, one hundred feet on Spring street, and known as "Armory Hall," is hereby exempted from the payment of any and all taxes, assessed or to be assessed, for State, county, or city purposes; provided, that such exemption shall continue no longer than said lot and premises are held for the use and benefit of said Rifle Company. SEC. 2. This Act to take effect from and after its passage. 17 |