May lay out and cut a canal. May enter on their offices for one year from the organization of said company, and until others shall be legally chosen from the stockholders in their places; and every share of stock, upon which all installments due shall have been paid, shall entitle the holder thereof to one vote, either in person or by proxy, at any authorized meeting of such stockholders. 6. And be it enacted, That the said company be, and is hereby authorized to lay out and cut a canal, to commence at or near the confluence of the Overpeck or English Neighborhood creek, with the Hackensack river, in the township of Hackensack, in the county of Bergen, and thence running up said Overpeck creek, and in a northerly direction as far as the board of directors may determine, not above the northerly line of the township of Hackensack; the said canal to be cut in as direct a line as practicable, with all necessary cut-offs, feeders and connections necessary to utilize the same. 7. And be it enacted, That the said company may conand take lands struct a canal, with such tow paths, locks, bridges, basins, wharves, pilings, and all other works, devices, toll houses and offices, and all appurtenances which may be necessary or expedient for the carrying out the purposes of this act, and it shall and may be lawful for the said company to occupy and take as much land, not exceeding two hundred feet in width, except in such places where from the depth of the excavation or the height and breadth of the embankment, or for locks and basins, it may be necessary to take more land, in which case so much land as may be necessary and no more, shall be taken, and it shall and may be lawful for the said company, their agents and employees, to enter at all times on all lands and all waters for the purpose of exploring, surveying and laying out the route of said canal and of locating the same; and to make and erect all necessary feeders, works and appendages thereof; and when the route of said canal, or any part thereof, shall have been determined, and a survey thereof shall be deposited in the office of the secretary of state, then it shall be lawful for the said company, by its officers, agents and employees, to enter upon and take possession of, hold, occupy, have, use, and excavate any lands, and may appropriate any material on or near the route of said canal necessary for making, completing and using such canal, subject to such compensation as is hereinafter provided. 8. And be it enacted, That it shall and may be lawful for and dredge the said company to excavate and dredge for the purpose of May excavate said canal any land under the waters of said Overpeck creek land under and the Hackensack river, so as to improve the navigation water, &c. thereof, and construct all necessary dykes and levees, or water ways for that purpose, and to straighten or improve the course and direction of the waters of said creek and deepen the same so far as necessary; but nothing herein is to be construed against the public right of navigation over any of the navigable waters of said creek and rivers, and the due authority and sovereignty of the government of the United States thereover. when no be made be tween compa of land 9. And be it enacted, That when the said company or its Proceedings agents cannot agree with the owner or owners of such re agreement can quired land or materials for the use or purchase thereof, or when by the legal incapacity or absence of such owner or by and owners owners no such agreement can be made, a particular description of the lands or materials so required for the use of said company in the construction of said canal, shall be given in writing under the oath or affirmation of some engineer or proper agent of the company, and also the name or names of the occupant or occupants, if any there be, and of the owner or owners, if known, and their residence, if the same can be ascertained, to one of the justices of the inferior court of common pleas of the county of Bergen, who shall cause the company to give notice thereof to the persons interested, if known and in this state, or if unknown and out of the state, to make publication thereof, as he shall direct, for any time not less than ten days, and to assign a particular time and place within said county for the appointment of the commissioners hereinafter named, at which time and place, upon satisfactory evidence of the service or publication of such notice aforesaid, he shall appoint, under his hand and seal, three disinterested, impartial and judicious freeholders, residents of the county in which the lands or materials in controversy are situated or owners reside, commissioners to appraise the said lands or materials, and to assess the damages upon such notice to be given to the persons interested, as shall be directed by the judge making such appointment, to be expressed therein not less than ten days; and it shall be the duty of said commissioners (having first taken and subscribed an oath or affirmation before some person duly authorized to administer an oath, faithfully and impartially to examine the matter in question, and make a true report according to the best of May charge and collect tolls. Proviso. Proviso. Canal a public highway for their skill and understanding,) to meet at the time and place appointed and to proceed to view and examine the said land or material, and the said commissioners at the same time taking into consideration all the benefits to be derived from or in consequence of said canal, as the case may be, to the said owner or owners, or parties interested, and to make a just and equitable estimate or appraisement of the value of the same, and an assessment of damages as shall be paid by the company for such lands or materials and damages aforesaid, which report shall be made in writing under the hands. and seals of the said commissioners, or any two of them, and filed in the clerk's office of Bergen county, which report, or a copy thereof, certified by the clerk of said county, shall at all times and places be considered as plenary evidence of the right of said company to have, hold, use, occupy, possess and enjoy said land or material, and of the owner or owners to recover the amount of said valuation, with interests and costs, in an action of debt in any court of competent jurisdiction, if they shall neglect or refuse to pay the same for sixty days after demand made of their treasurer or secretary. 10. And be it enacted, That such corporation shall have power to charge and collect tolls and rates for the passage of all boats and vessels upon the said canal, and for towing all boats and vessels upon the same, and to make, enact, and at pleasure to change and re enact such tolls and rates, and also, all necessary rules and regulations for the collection. and levying the same, as to them may seem proper, and for the good conduct and operation of said canal; provided, that the toll charged by said company shall not exceed seven cents per mile for each ton of registry measurement on all vessels passing through said canal; and further provided, that nothing herein shall authorize said company to charge tolls on any waters now navigable and free to commerce. 11. And be it enacted, That the said canal when comvessels, &c. pleted shall forever thereafter be esteemed a public highway, free for the passage of all vessels, and for the transportation of any goods, commodities, or produce whatever, in payment of the tolls and charges conforming to the lawful regulations and by-laws of said corporation. Dividends. 12. And be it enacted, That the directors of said company may declare and make such dividends as they may deem pru dent and proper from time to time out of the profits of said canal. boats, &c. 13. And be it enacted, That the president and directors of May purchase said company shall have power to purchase all tow boats, steamboats, barges, or other vessels, for the transportation of persons or any species of property on said canal, and for towing vessels through the same, as they may deem expedient or proper, and to make contracts and engagements with any other corporation or with individuals for transporting or conveying any kind of goods, produce, merchandise, freight or passengers, and for towing boats through and on said canal, and to enforce the fulfilment of such contracts. good and suffi 14. And be it enacted, That when the said canal shall Shall make cross any public road or the railroad track or tracks of any cient bridges. incorporated company, it shall be the duty of the said company hereby incorporated, at their proper expense, to make good and sufficient bridges across said canal, and to keep the same in repair, so as to prevent any unnecessary inconvenience in the usage of such road or railroad by reason of the said canal crossing the same. 15. And be it enacted, That as soon as the said canal or State tax. any part of it is in operation, the president of the said company shall file, under oath or affirmation, a statement of the amount of the costs of the said canal, including equipments, appendages and all expenses, in the office of the secretary of state, and annually thereafter on the first Monday in January of each year he shall, under oath or affirmation, make a statement to the secretary of state of the cost, equipments, appendages and expenses of said canal and after the said canal, or any part thereof, shall be in operation; the said corporation shall pay to the treasurer of this state a tax of onehalf of one per centum on the cost, equipments and appendages of said canal, to be paid annually thereafter on the first Monday in January of each year, and such other taxes as may be assessed from time to time by a general law applicable to all canals over which the legislature shall have power for that purpose at the time of the passage of such law or laws; and until the said canal, or any part thereof shall be in operation, the said corporation shall be regularly assessed and pay tax for the value of its real estate, including improvements thereon, and personal property as now taxed in the city or cities, township or townships wherein it lies, at the same time and rate, and in the same manner, for the same Proviso. Penalty for injuries. May borrow money and se by bond and mortgage. purpose, and by the same person or persons, as other taxes are assessed in said city or cities, township or townships; provided, that no other tax or impost shall be levied or assessed upon said company. 16. And be it enacted, That if any person shall wilfully impair, injure, destroy or obstract the use of the canal constructed under the provisions of this act, or any of the necessary works, wharves or improvements, such person or persons so offending shall forfeit and pay to said company the sum of fifty dollars, to be by them recovered in any court having any competent jurisdiction in an action of debt; and further, shall be liable for all damages. 17. And be it enacted, That the said corporation shall have cure the same power to borrow such sum or sums of money, from time to time, as shall be necessary to build, construct or repair said canal, or for the uses and objects of said company, and to secure the payment thereof by bond or mortgage, or otherwise, on said canal, or on the land, privileges, franchises and appurtenances of or belonging to said corporation, on the best possible terms, to be sanctioned by the board of directors, or a majority thereof; provided, that the sum or sums so borrowed shall not exceed a sum equal to two-thirds of the amount of the capital stock paid in, or value of the property of said company Limitation. 18. And be it enacted, That said canal shall be commenced within five years and completed within ten years from the passage of this act. 19. And be it enacted, That this act shall take effect immediately. Approved March 8, 1870. |