Pproviso.

Assessment of

costs and exTenses on lands.

Assessment a fen on lands.

Duty of collefector.

the said damage to be determined by the said commissioners; provided, that in determining said damage done by the taking of the land they shall only allow to the owner for the excess, if any, of damage done over and above the advantage. that will, in their judgment, accrue to the owners of the land taken.

4. And be it enacted, That it shall be lawful to assess the cost and expenses of any improvement decided upon agreeably to the first section of this act, and the said commissioners shall make the said assessment in proportion to the benefit received, in their judgment, by each owner of said lands; in determining which benefit they shall consider the location, frontage, amount and value of said lands, and shall state the amount in writing to each person assessed, also stating therein a time and place to hear and consider all objections to said assessments, and to hear and determine the same.

5. And be it enacted, That a certificate of the said assessment so determined shall be a lien upon the lands on which it is laid; and the said commissioners shall make a copy of said certificate, which they shall place in the hands of the collector of taxes for the time being of the township of Shrewsbury; and it shall be the duty of the collector to collect the said assessment within sixty days from the time of his receipt of the said certificate, in the same manner as township taxes are collected (the collector's ordinary securities being responsible for the same) and pay the same over to persons presenting orders signed by the said commissioners; and the said collector shall in the collection of the said assessments be liable to the same pains and penalties and entitled to the same fees as in the collection of the annual township taxes. 6. And be it enacted, That in case any owner or owners Sofd on failure of lands so assessed as aforesaid shall fail to pay the assess10th pay assessment. ment laid thereon within six months from the time that the same shall become due by virtue of this act, upon which the said assessment is a lien, said land shall be sold in the same manner that land is now authorized by law to be sold for unpaid taxes in said township of Shrewsbury, so to raise a sufficient sum to pay the said assessment, and the interest at the rate of twelve dollars per annum from the expiration of the sixty days, from the time of placing such certificate in the hands of the collector, and the lawful cost and fees of collection and sale.

Land may

be

7. And be it enacted, That this act shall be declared a public act, and shall take effect immediately. Approved February 15, 1870.

CHAPTER LI.

A Further Supplement to an act entitled "An Act to authorize the President and Directors of the Trenton Water Works to convey their works and franchises to the city of Trenton, and to provide for the management of said works," approved March first, eighteen hundred and fifty-nine.

borrow mo

water works.

1. BE IT ENACTED by the Senate and General Assembly of Authorized to the State of New Jersey, That it shall be lawful for the com- ney for common council of the city of Trenton, at such time or times, missioners of whenever it shall seem to them expedient so to do, to borrow such further sum or sums of money on the credit of said city, as shall appear to them to be necessary for the purpose of paying the expenses which may hereafter be incurred in making all necessary repairs and improvements in the mains, machinery and other works of the Trenton Water Works, and to loan such moneys to the commissioners of the water works for the purpose aforesaid; provided, that the sums of money Proviso. so borrowed shall not exceed in the whole the sum of one hundred thousand dollars.

issue bonds.

2. And be it enacted, That to secure the payment of the Authorized to loan authorized by this act, the said common council, upon the written application of the said commissioners of the water works, are hereby authorized to issue bonds of the said. city of Trenton, at such time or times as to them shall seem expedient, for an amount of money not exceeding in the whole the sum of one hundred thousand dollars; which bonds shall have the city seal attached, and be signed by the mayor and treasurer of said city, and shall bear interest at the rate Rate of interof six per centum per annum, payable semi-annually, and shall not be liable to any tax which may hereafter be levied or assessed by order cf said common council; the principal

est.

Proviso.

To be designa

Loan.'

of said bonds shall be made payable at such time or times as the said common council may by ordinance prescribe; provided, that such bond shall not be issued in any case unless a majority of the whole number of said common council shall concur therein.

3. And be it enacted, That the loan authorized by this ted as "Water act shall be a part of the "Water Loan" of the city of Trenton, and that none of the said bonds shall be sold or disposed of for less than their par value, and the proceeds thereof shall be appropriated exclusively to the purposes contemplated by this act, and to no other purposes whatso

ever.

4. And be it enacted, That this act shall take effect immediately.

Approved February 15, 1870.

Preamble.

CHAPTER LII.

An Act to incorporate the Stevens Institute of Technology. WHEREAS, The late Edwin A. Stevens, by a certain codicil in his last will and testament, bearing date the fifteenth day of April, eighteen hundred and sixty-seven, did provide as follows, viz: "And I do further give, devise and bequeath to my said wife, Martha B. Stevens, William W. Shippen and Samuel B. Dod, and to their heirs and assigns forever, to hold as joint tenants, and not as tenants in common, in trust as hereinafter mentioned, all that block of land in Hoboken, bounded by Hudson street, River street and Fifth and Sixth streets, (excepting such interests therein, if any, as I may not own at my death,) and one hundred and fifty thousand dollars in the stock and bonds of the Morris and Essex Railroad Company, reckoning the same at par; that is to say, one-half of that sum in the first mortgage bonds of said company, and one-half in the said stock; I direct and empower the acting trustees or trustee under this trust

(whether the original trustees herein named, or the survivors or survivor of them, or his, her or their successors,) at any time or times when one or two shall be dead or have ceased to act, to appoint one or two new trustees in his or her or their stead, who shall have died or ceased to act, and by advice of counsel, my trustee or trustees in whom the legal title shall be vested, shall convey, assure to and vest in said three trustees, (the appointing as well as the new trustee or trustees,) the said trust property in fee simple as joint tenants, and not as tenants in common, in trust; and this trust is this: that upon said land, at such time as the acting trustee or trustees shall think proper, certainly within two years after my death, he, she or they shall, out of the proceeds of said personal property, (to be procured by sale or other prudent disposition, investment, use or appropriation thereof, in the discretion of the trustee or trustees for the time being,) erect of some substantial but economical material, as substantial and economical as trap rock, a plain building or buildings, suitable for the uses of an institution of learning, which I direct my acting trustee or trustees for the time being, out of the means herein provided, and such as shall proceed therefrom, with all convenient speed, and within three years after my decease, to establish there, employing, paying and discharging, at his, her or their discretion, the officers and tutors and servants thereof, and forever to manage and control, at his, her or their discretion, but for the benefit, tuition and advancement in learning of the youth residing from time to time hereafter within the state of New Jersey; but my said acting trustee or trustees shall, from time to time, decide who of said youth shall receive the benefit thereof, and direct the tuition in said institution, and make all proper by-laws, rules and regulations, for the management of the officers, tutors, servants and scholars connected with the . said institution; the tuition is not to be wholly free, unless to such youth as said acting trustee or trustees shall direct, nor is it my intention that the cost of tuition of any youth shall be wholly paid by him or her; the proportion of payment by each youth I leave to the discretion of the acting trustee or trustees; it is my intention that the institution hereby directed and created shall be perpetual, and that the above mentioned trustees, and their successors, shall forever continue and be the governors thereof, and

have the superintendence of the same; and it is my will and desire that, if it cannot be legally done according to my above intention by them, without an act of the legislature of the state of New Jersey, they will, as soon as possible, and certainly within three years after my decease, apply for an act of the legislature to incorporate them, for the purposes above specified, and to effectually provide for the establishment and maintenance of said institution, with the means which I have devoted by this, my will and testament, to the said purpose; and I do further declare it to be my will and intention that the said real and personal property hereinbefore and hereinafter devised and bequeathed to my said trustees, for said purposes, shall, at all events, be applied for the uses and purposes above set forth, and that is my desire; all courts of law and equity will so construe this, my will, as to have the said property, real and personal, appropriated to the abcve uses, and the same shall, in no case, for want of legal form or otherwise, be so construed as that my relatives, heirs, devisees or legatees, or any other person, shall inherit, take, possess or enjoy said real or personal property herein before and hereinafter devised and bequeathed for said purposes, except in the manner and for the uses hereinabove specified;" and also did further provide and direct as follows, to wit: "I do also, out of the said last mentioned residue of my estate (excluding Castle Point, and the homestead lot and the houses thereon,) remaining after the payment of my debts, the said eight hundred thousand dollars in legacies, and the appropriation of so much of my estate as is necessary to answer the before mentioned charitable bequests and devises, and the appropriation for the steam battery, give, devise and bequeath to my said trustees of said institution of learning, and direct my executors to pay to them, within five years after my decease, such sum of money, not exceeding five hundred thousand dollars, as the said trustees of said institution of learning, in their discretion, shall think necessary to be set apart, invested and appropriated to and for the purpose of forever maintaining the said institution of learning, for the purposes above described, so that the same be literally maintained out of the income and interest of such sum; and said sum of money, and the interest and increase thereof, shall be subject to all the trusts herein before declared with respect to the said insti