aud. gen'l.

SEC. 14. The auditor general shall have power, and it shall be Power of his duty, at any time within two years from the date of any such sale, to cancel the same, or the original sale to the state, in all cases where either of such sales shall be shown to his satisfaction to have been invalid for any cause; and in such case he shall draw his warrant on the state treasurer in favor of the purchaser or his assigns, for the amount of purchase money and interest at the rate of seven per cent. per annum, from the time such lands were sold, either at public or private sale as state tax lands, to the time when the notice of such cancelment shall be given, as mentioned in section one hundred and eleven of chapter twenty aforesaid.

sales to be

SEC. 15. All expenses of sale, postage and other charges, inci- Expenses of dent to the sales of lands bid in for the state as aforesaid, shall be audited. audited by the auditor general, and paid out of the general fund on his warrant.

In case la'ds

bid in by state, any

person may

pay such

. In case where lands have been or shall be bid in by the state
at the ordinary annual tax sales in October, 1844, or any sub-
sequent year or years, and which were not previously held by
the state as state tax lands for the taxes of 1840 and previous years, bids.
any person may, upon application at the office of the auditor gen-
eral, pay to the state treasurer the amount of all such bids made
upon each description at the sales aforesaid, with twenty-five per
cent. interest thereon, from the time of such bid respectively, to
the time of such application and payment; and for the sale of the
said bids, the auditor general shall give to the purchaser thereof
certificates of purchase, stating the time when he will be entitled
to a deed for said lands, unless redeemed or otherwise discharged;
and if said lands are redeemed, the said purchaser shall be entitled
to the redemption money on demand, according to the provisions
of section eighty-three, of chapter aforesaid; and if otherwise
discharged, the purchase money shall be refunded, with seven per
cent. interest, from the date of purchase to the time of discharge.
But if the said lands are not redeemed or otherwise discharged ac-
cording to law, the auditor general shall execute to such purcha-
ser, or his assigns, a deed as is prescribed in section ten of this

act.

SEC. 16. If the effect or operation of the provisions of this act,

Aud. genl. which relates to redemption and sales of the lands bid in by the

in his dis

cretion omit

to carry act into force.

this

state, or the sales of the bids therefor, as aforesaid, should in any case be such in the opinion of the auditor general and attorney general, as to jeopardize the interest of the state, or prove disadvantageous thereto, the auditor general shall omit to carry the provisions of this act into force, so far as relates to such case or cases, and shall report thereon to the legislature at its next session.

SEC. 17. All laws contravening the provisions of this act, together with sections one hundred and three, one hundred and four, one hundred and five, one hundred and six, one hundred and ten and one hundred and fifteen of chapter twenty aforesaid, be and the same is [are] hereby repealed.

Approved March 17, 1847.

[No. 85.]

AN ACT to authorize the re-assessment of certain taxes in the township of Irving in the county of Barry.

SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That the board of supervisors of the county of Barry be and they are hereby authorized to cause to be levied and collected upon the taxable property in the township of Irving in said county, the full amount of all the unpaid state and county taxes which were assessed upon the property of said township in the years eighteen hundred and forty-three and eighteen hundred and forty-four, which said taxes shall be levied and collected with the taxes for the year eighteen hundred and forty-seven in said township, and in the same manner.

SEC. 2. This act shall take effect from and after its passage.
Approved March 17, 1847.

Incorporat'n

[No. 86.]

AN ACT to incorporate the Detroit River Sectional Floating
Dock, Dry Dock, and Marine Railway Company.

SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That Charles Moran, Edmund A.

Brush, Oliver M. Hyde, William Goodin, Thomas Palmer and B. F. H. Witherell, or their assigns, and such other persons as now are, or may be hereafter associated with them, are hereby constituted a body corporate, by the name of the "Detroit River Sectional Floating Dock, Dry Dock, and Marine Railway Company," for the purpose of constructing, using and providing, on the bor ders of the Detroit River, one or more dry or wet docks, with marine railways, and other conveniencs for building and repairing vessels of every description, and also for sawing lumber: Provided That nothing in this act contained shall extend, or be construed to authorize the said company to carry on the business of banking, brokerage, or any other business whatever, except such as properly belongs to the business of a dry dock.

SEC. 2. The capital stock of said company shall be fifty thousand dollars, which shall be divided into shares of one hundred dollars Capital sto'k each; but it shall be lawful for the said corporation, when five thousand dollars shall have been subscribed and paid in, to commence the said business, and with that capital to carry on the operation of the said company, until they may find it necessary to extend their capital, which they are authorized to do from time to time, to the amount hereinbefore mentioned.

Capable of

&c.

SEC. 3. The corporation hereby created, shall be capable of purchasing, holding and conveying or hireing suchlands, tenements and purchasing, hereditaments, as may be necessary to carry into effect the objects of said corporation and no other.

To open

books for receiving sub

SEC. 4. A book for subscriptions to the capital stock of said company, shall be opened, under the direction of Rollin C. Smith, ecriptions. B. F. H. Witherell and Oliver M. Hyde, or any two them, who are hereby appointed commissioners for that purpose, and authorized to receive subscriptions to the capital stock, on such day and at such place in the county of Wayne, in the State of Michigan, as they shall appoint, giving at least fourteen days' notice of such time and place of subscription, in one of the public newspapers printed in the city of Detroit, and the sum of one dollar on each share shall be paid to the said commissioners on such subscriptions as they shall receive as aforesaid; in case the said sum of five thousand dollars of the stock should not be taken on said day, then the said

By whom af

commissioners, or a majority of them, are authorized, on such other day or days, and at such place as they shall appoint, to receive further subscriptions, until the whole stock shall have been subccribed.

SEC. 5. The stock, property and concerns of the said company, fairs, &c. of shall be managed and conducted by five directors, any three of

company to

ted.

be conduc- whom, of them, may be a quorum to transact business; said directors may respectively hold their offices for one year, and until others are chosen: They shall be elected by such of the stockholders as shall attend for that purpose, either in person or by proxy, on such day, and at such place as shall be designated by the said commissioners, or a majority of them,[who]are hereby appointed inspectors of said election. The said directors then chosen, shall hold their offices until the first Monday in June, thereafter, and until others shall be elected in their stead. The directors, after the said term shall have expired, shall be chosen annually, on the first Monday in June in each year, at such place in the city of Detroit, as a majority of the members shall prescribe; of which election notice shall be given at least fourteen days previous, by publication in on of the newspapers published in the city of Detroit, and such election shall be holden under the inspection of two stockholders, to be appointed by the directors for the time being, and shall be by ballot, by a plurality of votes, allowing one vote for every share, and the stockholders not present may vote by proxy.

keep books.

SEC. 6. The directors shall at all times keep, or cause to be Directors to kept, at their office, proper books of account, in which shall be regularly entered all the transactions of the said corporation, which shall at all times be subject to the inspection of the stockholders; and the directors on going out of office shall account to their successors, and pay over all moneys of the company in their hands.

Powers, &c.,

SEC. 7. This corporation shall continue for twenty-one years. SEC. S. The said corporation shall possess the general powers yof compan and be subject to the general duties and liabilities of a corporation, as defined in chapter fifty-five, of title ten, of the revised statutes, passed and appoved May eighteenth, in the year one thousand eight hundred and forty-six.

SEC. 9. The legislature may at any time alter, modify or repeal

this act, allowing said corporation a reasonable time to settle up the business of the corporation.

SEC. 10. The inhabitants of this state shall have a lien upon the stock and appurtenances, and upon the property of said company, for all dues or demands against said company to the amount of one hundred dollars or under, originally contracted within this state, which shall take precedence of all other debts or demands, judgments or decrees, liens or mortgages against said company. Approved March 17, 1847.

Lien.

[No. 87.]

amended,

AN ACT to amend an act entitled an act to incorporate the Grand River Valley Rail Road Company, approved May 4, 1846. SECTION 1. Be it enacted by the Senate and House of Representa- Certain act tires of the State of Michigan, That section nineteen, of the act entitled "an act to incorporate the Grand River Valley Rail Road Company," approved May 4, 1846, is hereby amended by striking out the words "the mail," in the sixth line, and inserting "mails of of like weight."

SEC. 2. That section twenty-one of said act be amended by stri- b. king out "fifty-one," and inserting "sixty-one," in the third line thereof.

SEC. 3. That section twenty-six be stricken out and insert in lieu thereof, "that any inhabitant of this state shall have a lien upon all the personal property of said company for all dues or demands against said company originally contracted within this state of or under one hundred dollars, which shall take preference of all other debts or demands, judgments or decrees, liens or mortgages against said company, except as provided for in section twenty-four of the act to which this act is amendatory." Amend further by striking out of the first section of the act to which this act is amendatory, the names of Harvey Williams, Benjamin Porter, Ira C. Backus, Allen Burnett, Jr., Amos Roberts, Philo M. Everett, John Garrow, Lewis Bascomb and Benjamin Knight; also amend section two of said act by striking out "two," in the third line and inserting "one" in place thereof.

Ib.