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of the sums subscribed to the capital stock of said company, at such When pay times and in such proportions, and on such conditions as they shall be enouired deem proper and necessary in the execution and progress of the work, and direct the same to be paid to the treasurer of the corporation. And the treasurer shall give notice of all such assessments; and in case any subscriber or stockholder shall neglect to pay any assessment on his share or shares for the
of thirty days after the time in such notice specified for the payment thereof, as shall be prescribed by the by-laws of said corporation, the directors may order the treasurer to sell such share or shares at public auction, after giving such notice as may be prescribed as aforesaid, to the highest bidder, and the same shall be transferred to the purchaser on the books of the company by the president thereof; and such delinquent subscriber or stockholder shall be held accountable to the company for the residue of the assessments, not satisfied by the proceeds of such sale of his share or shares, if sold for less than the assessments due thereon with the interest and costs of sale, and such costs and interests to be first paid from the proceeds of such sale, and shall be entitled to the surplus if his share or shares shall sell for more than the assessments due, with interest and cost of sale: Provided, however, That no assessment shall be laid upon any shares in said corporation for a greater amount in the whole than one hundred dollars
each share. Sec. 24. The directors shall have full power to conduct the af- Power of difairs of said company, and to exercise any powers which said company might exercise, except where provision is made by this act for the exercise of such powers by the stockholders at their annual or special meetings, or where the powers of the directors may be restrained by the by-laws of said company.
Sec. 25. The directors of said company shall annually, on or be- To report to fore the twenty-fith day of January, make a report to the secretary of state, which shall embrace the business of the preceding year, to the first day of January, stating the length of their road in operation; cost of construction, and the indebtedness of the company for materials or work in progress of delivery or execution on account of construction, as near as can be conveniently ascertained, and all other indebtedness, if any there be ; the amount of capital stock subscribed, and the amount actually paid in; and the amount
sec, of state.
of all loans made by said company for the purpose of constructing said road; the amount of dividends; the names of the stockholders with the amount of stock owned by each, respectively; receipts from freight, from passengers and from all other sources on account of operating the road, the number of through and way passengers respectively; the expenditures for the repairs of the road; for repairs of engines and cars, and other expenditures, which three items shall include all the expenditures for operating the road, and the expenditures made for construction during the year; the number of engines, of passenger, freight and other cars; the average number of men in employment of the company; the number of miles ran by passenger, by freight and other trains; which report shall be verified by the affidavit of at least two of the directors, and filed in the office of the secretary of state.
Sec. 26. The said company shall pay to the state an annual tax Annual tax. of one half of one per cent upon its capital stock paid in, including
all loans made by said company, for the purpose of constructing said rail road until the first day of February, A. D. 1875, and thereafter, an amount of three-fourths of one per cent. on the capital stock paid in, including all loans made to said company; which tax shall be paid in the last week in January in each year, to the state treasurer, and the property and effects of said company, whether real, personal or mixed, shall, in consideration thereof, be exempt from all and every tax, charge and exaction by virtue of any
laws of this state now or hereafter to be in force, except penalties by this act imposed.
Sec. 27. The state shall have a lien upon the railroad of said company, its appurtenances and stock thereon, for all penalties, taxes and dues which may accrue to the state from said company, which shall take precedence of all other debts or demands, judgments or decrees against said company; and every inhabitant of this state shall have a lien upon said rail road, stock and appurtenances, and upon the property of said company, for all penalties, dues or demands agaiust said company to the amount of one hundred dollars, originally contracted within this state, which, after said state lien, shall take precedence of all other debts or demands, judgments or decrees, liens or mortgages against said road or company.
Lien of the state.
Sec. 28. If any person shall wilfully or maliciously do, or cause Penalty for
ries to prop to be done, or aid in doing or causing to be done, any act or acts
erty. whatever, whereby any building, construction or work of said company, or any engine, machine or structure, or any matter or thing appertaining to the same, shall be stopped, obstructed, impaired, weakened, injured or destroyed, the person or persons so offending, shall be guilty of a misdemeanor, and may be punished upon conviction, by fine, or by imprisonment not exceeding five years, or both, at the discretion of the court; and shall forfeit and pay to said corporation treble the amount of damages sustained by means of such offence or injury, to be recovered in the name of the said company, with costs of suit, by action of trespass, or trespass on the
Sec. 29. Said company shall at all times, if required by the Post Office Department, transport the United States mail upon said port U.S. road, as often as their cars shall pass thereon, not exceeding twice in each day, for such compensation as shall be agreed upon by said company and the said department; and in case no such agreement can be made, it shall be lawful for the governor of this state to appoint one commissioner and said company one, who, in case they cannot agree, shall appoint a third commissioner; which said commissioners or a majority of them, shall agree upon and fix the prices, terms and conditions of transporting such mail, after fifteen days' notice to said company: Provided, That nothing herein contained shall be construed to require any of the vehicles of said company to wait at any office for the change of mail.
Sec. 30. The legislature may at any time alter, amend or repeal this act, by a vote of two-thirds of each branch thereof, but such peal. alteration, amendment or repeal shall not be made within thirty years after the passage of this act, unless it shall be made to appear to the legislature, that there has been a violation by the company of some of the provisions thereof.
Sec. 31. This act shall take effect and be force from and after its passage.
Approved, January 30, 1847.
Power to re
[No. 6.) AN ACT to amend the Charter of the City of Detroit, as to the
time of making assessments. SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, as follows, to wit: That the several assessors of the city of Detroit be required to make and complete the assessment rolls, on which the city, school and road taxes are to be levied and collected for their respective wards, on or before the first Monday of March, in each of [and] every year.
Sec. 2. The several collectors shall have power to levy upon the personal property of persons from whom taxes may be due, whenever such property may be found within the bounds of said city.
Sec. 3. All acts and parts of acts in so far as they contravene the provisions of this act are hereby repealed.
Sec. 4. This act shall take effect from and after its passage.
(No. 7.] AN ACT to extend the time for the collection of certain taxes for
the year eighteen hundred and forty-six, in the city of Detroit.
Section 1. Be it cnacted by the Senate and IIouse of Pepresentatives of the State of Michigan, That the time for the collection of taxes in the city of Detroit for the year eighteen hundred and forty-six, upon the property of residents, is hereby extended until the first Monday of March next.
Sec. 2. The collectors of the several wards of said city are hereDuty of col
by authorized and empowered to proceed and collect said taxes, as fully as they could do during the life time of their warrants, and make their returns at any time on or before the first Monday of March next, and the said warrants are hereby continued in full force and virtue for the purpose aforesaid, until the said first Monday of March next.
Sec. 3. Upon the taxes due from all persons availing themselves Percentage of the extension of time herein authorized, the collectors shall be,
and they are hereby required to add one per cent., which per centage shall be collected, accounted for and paid over in the same manner as the original taxes.
Sec. 4. It shall be the duty of the several collectors of the city,
of Detroit, before they shall be entitled to the benefits of this
money. to pay over all moneys collected during the life time of their warrants, as is now provided by law, and to renew their official bonds to the satisfaction of the treasurer of the county of Wayne. Sec. 5. This act shall take effect from and after its
passage. Approved January 30, 1847.
Whencol. lectors to pay over
[No. 8.] AN ACT to extend the time for the collection of certain taxes for
the year eighteen hundred and forty-six, in the county of Saginaw; also in the township of Vienna in the county of Genesee, and in the township of La Salle in the county of Monroe.
Section 1. Be it enacted by the Senate and House of Representa- Time extentices of the State of Michigan, That the time for the collection of taxes in the county of Saginaw, for the year eighteen hundred and forty-six, upon the property of residents, is hereby extended until the first Monday of March next.
Sec. 2. The treasurers of the several townships in said county Duty of trea are hereby authorized and empowered to proceed and collect said taxes as fully as they could do during the life time of their warrants, and make their returns at any time on or before the first Monday of March next; and their said warrants are hereby continued in force until the first Monday of March next.
Sec. 3. It shall be the duty of the several treasurers in the county of Saginaw, before they shall be entitled to the benefits of this act, to pay over all moneys collected during the life time of their warrants, as is now provided by law, and to renew their official bonds to the satisfaction of the treasurer of said county.
Sec. 4. The time for the collection of taxes in so much of the township of Vienna, as is embraced in town nine, north of range five east, and althe time for the collection of taxes in the town. ship of La Salle, county of Monroe, is hereby extended to the first day of March next.
Sec. 5. The treasurers of the townships of Vienna and La Salle aforesaid, are hereby authorized and empowered to proceed and collect said taxes, in the same manner as during the life time of