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How trans ferable

Interest when paid

Security to be given

Rights not to be impaired

Certificates

corporation

credits to the respective subscribers to the said funds for the sums to which they shall be respectively entitled, to transfer the said credit from time to time as shall be requisite, to pay the interest thereupon as the same shall become due, either by warrants to be prepared for the purpose, or in such other way as may be directed by the board of trustees of the said village, and generally to observe and perform such directions and regulations as shall from time to time be prescribed to him by the said board of trustees, touching the execution of his said office.

4. And be it further enacted, That the said stocks which shall be created by virtue of this act, or by virtue of a vote of the freeholders and inhabitants of the said village, as provided for in and by this act, shall be transferable only on the books of the board of trustees of the said village, by the proprietor or proprietors of the said stock, or his, her or their attorney for that purpose duly authorised.

5. And be it further enacted, That the interest upon the said stocks, as the same shall become due, shall be payable half-yearly on the first day of May, and on the first day of November, or quarter yearly on the first day of May, on the first day of August, on the first day of November and on the first day of February, according to the terms of the said subscription or the agreement between the parties and the certificate aforesaid, unless either of the said days shall happen to be Sunday, and in such case the interest shall be payable the next day.

6. And be it further enacted, That the persons entrusted by the said board of trustees with the execution of this act, shall, before they enter upon the duties imposed upon them, become bound in such sureties, and to such amount as shall be satisfactory to the said board of trustees, conditioned for the faithful execution of the said duties entrusted to them.

7. And be it further enacted, That nothing in this act contained shall be construed in any wise to abridge or impair the rights of those persons, who may hold bonds of the said board of trustees, and who shall not subscribe to the said public funds.

8. And be it further enacted, That the certificates to be issued binding upon in manner aforesaid, though not under the common seal of the said village, shall be binding and obligatory upon the corporation of the said village, in like manner and with like force and effect as though the same were issued under the said common seal.

Faith of cor

ged, &c

9. And be it further enacted, That the faith of the corporation poration pled of the said village shall be pledged for the final redemption and payment of the stocks which shall or may be created, pursuant to the provisions of this act, and that all and singular the revenues, property and estate, real and personal, belonging to the corporation of the said village, shall be and they are hereby pledged and appropriated for the payment of the interest which shall become due on the said stocks, and shall continue so pledged until the final redemption of the said stocks.

Election of trustees

10. And be it further enacted, That the freeholders and inhabitants of the village of Brooklyn, qualified to vote at town meetings, may on the first Monday of May after the passage of this act, and on the first Monday of May in each and every year thereafter, meet at some proper places to be appointed by the trustees for the time

being, by a notice of one week, and then and there proceed to elect ten discreet freeholders resident within the said village, to be trustees thereof, who, when chosen, shall possess and exercise the several powers and rights vested in the trustees of the said village, by the several acts relating thereto, and the said freeholders and inhabitants qualified as aforesaid, may at the said elections by a general ticket, elect a discreet freeholder for president of the said village, separate and distinct from the said ten trustees; and the freeholder having the greatest number of votes for president, shall be the president. of the said village, and shall have and exercise all the powers and duties vested in the president by the several acts relating to the said village, any law to the contrary hereof in any wise notwithstanding.

be divided in

tricts

11. And be it further enacted, That it shall be and is hereby Village to made the duty of the present trustees of the said village, as soon as to five dis conveniently may be after the passage of this act, to divide the same into five districts, respect being had to the number of voters in each district, so as to make the same as nearly equal as may be, and that two of said trustees shall be elected out of each of said districts by a plurality of votes; and that it shall be and is hereby made the duty of the trustees of the said village from time to time, as the increase of population may require, to alter the said districts so as to apportion the number of voters as nearly as may be in the said five districts.

elections

12. And be it further enacted, That from and after the pas- Inspectors of sage of this act, it shall be and is hereby made the duty of the trustees of the said village for the time being, to appoint three suitable persons in each of said districts to be inspectors of the elections of president, trustees and assessors, and of the election provided for in the seventh section of the act hereby amended in such districts, and that the said inspectors shall be paid by the treasurer of the said village, on the warrant or order of the president of the said village, the same compensation for their services, as is now allowed to the inspectors of elections of trustees and assessors in the said vllage, any law to the contrary notwithstanding.

13. And be it further enacted, That it shall not be lawful for any Trustees not member of the board of trustees of the said village, to hold any of- to hold cer fice of profit or emolument derived from or under the said board.

tain offices

14. And be it further enacted, That it shall and may be lawful wells and for the board of trustees of the said village, to keep in repair the pumps, how kept in repair wells and pumps in the said village by a general assessment on the said village, any law to the contrary hereof in any wise notwithstanding. 15. And be it further enacted, That it shall be and is hereby Duty of clerk made the duty of the clerk of the board of trustees of the said village, under the direction of the said board of trustees, to keep a regu lar account of all the receipts and expenditures of the said board, of what name or nature soever, in a book to be provided by them for that purpose, which book shall be kept at the office of the said board of trustees, and shall be open at all reasonable times for the inspection of all persons having any interest therein: And further, That Account to be it shall be and is hereby made the duty of the said board of trustees, at each and every annual meeting of the freeholders and inhabitants of the said village, to render to the said freeholders and inhabitants a specified account of all the receipts and expenditures of the said

rendered by

tustees

ed

How publish village, for the year then past; and which account shall be published in the newspapers printed in the said village, at least one week previous to such annual meeting.

Name chang

ed

CHAP. 110.

AN ACT to amend "an act to incorporate the La Fayette Insu rance Company of the City of New-York," passed April 8, 1825. Passed April 5, 1826.

BE it enacted by the People of the State of New-York, represented in Senate and Assembly, That the name of the said company shall be changed, and that the same shall hereafter be known by the name and style of "The Anchor Insurance Company of the City of New-York," and that the time limited in the seventeenth vit extended section of the act hereby amended, for filing the affidavit therein mentioned, shall be extended for one year from the passing of this

Filing affida.

act.

24 additional ficemen

CHAP. 111.

AN ACT to increase the number of Firemen in the Village of

Athens.

Passed April 5, 1826.

BE it enacted by the People of the State of New-York, represented in Senate and Assembly, That it shall and may be lawful for the trustees of the village of Athens from time to time, to designate twenty-four able bodied and efficient men, residing in said village, as firemen in addition to the number of firemen now authorised by law, and that the persons so designated, shall be subject Their duties to all the duties and liabilities, and entitled to all the privileges and immunities of the present firemen of the said village: Provided, That nothing herein contained, shall be construed to compel any person to serve as a fireman under this act, without his consent.

and liabilities

Proviso

my

CHAP. 112.

AN ACT for the Relief of Johnstown Academy.

Passed April 5, 1826.

BE it enacted by the People of the State of New-York, repre$1600 to be paid to Johrs sented in Senate and Assembly, That the treasurer shall pay, on the own Acade warrant of the comptroller, to the trustees of Johnstown academy, the sum of sixteen hundred dollars: Provided, That before the receiving the said sum, the trustees shall give security, satisfactory to the comptroller, for the faithful application of said sum to the erection of a suitable building for the said academy, or to the repair of the

Proviso

present building, and to the purchase of a library and chemical apparatus, and that they will duly account for the expenditure thereof to the regents of the university.

CHAP. 113.

AN ACT further to amend the act entitled "An Act to authorise
Benajah Byington to search for Rock Salt, in the County of
Onondaga," passed April 13, 1820.

Passed April 5, 1826.

BE it enacted by the People of the State of New-York, repre- Former ac sented in Senate and Assembly, That the act entitled "An Act to continued authorise Benajah Byington to search for Rock Salt, in the county of Onondaga," passed April 13, 1820, shall continue in force for three years from the passing of this act.

СНАР. 114.

AN ACT for the Relief of the New-York Dry Dock Company.

Passed April 6, 1826.

house

Proviso

Prohibition

BE it enacted by the People of the State of New-York, repre- Location of sented in Senate and Assembly, That it shall and may be lawful for banking the said company to locate their banking house on the property now belonging to said company, in the eleventh ward of the city of NewYork: Provided, That nothing herein contained shall be so construed as to authorise the said company to commence any banking operations, unless the conditions of the act of incorporation shall have been complied with, or to excuse any forfeiture that may have accrued: And provided further, That the said company are hereby expressly prohibited from keeping any office of discount or de- against keepposit, or any office or place for the transaction of any of the business ing office else pertaining to, or connected with their banking operations, or for loaning any of their notes or other securities, or for doing any other business by way of discounts or loans, or otherwise, out of the banking house herein authorised to be erected and located in the eleventh ward of the said city: Provided, That nothing herein contained shall be construed to prohibit the president and directors of the said may convene company from convening in any other part of the said city for the in any other purpose of deciding on the notes to be offered to the said company city for de for discount.

where

Directors

part of the

ciding on

notes

School mo ney how apportioned and paid

Duty of

treasurer

Duty of super visors in taxing

Collector to pay to com missioners

Commission

ers of com 4

CHAP. 115.

AN ACT relative to certain School Districts in the City of
Hudson.

Passed April 7, 1826.

BE it enacted by the People of the State of New-York, represented in Senate and Assembly, as follows:

1. The amount allowed to the city of Hudson by the superintendent of common schools, shall be apportioned by the treasurer of the county of Columbia between the Hudson Lancaster school society and such common school districts and parts of districts as now are, or hereafter may be organized out of the compact part of the said city, in a ratio proportioned to the number of inhabitants in such districts and parts of districts respectively, and the number of inhabitants in the compact part of the said city, and shall pay the amount thus apportioned to the commissioners of common schools of the said city.

2. The said treasurer shall transmit to the board of supervisors of the said county, at their annual meeting, a certified copy of the said apportionment.

3. The supervisors of the said county shall annually add to the amount to be raised on the inhabitants of the said districts and parts of districts respectively, for defraying town expenses, a sum equal to the amount so apportioned to such districts and parts of districts, with the addition of five cents on the dollar for collecting fees, and shall cause the same to be collected at the same time and in the same manner as other taxes levied on towns are by law to be collected. 4. The collector shall pay over the monies so collected by him, after deducting five cents on the dollar for his fees, to the commissioners of common schools of the city of Hudson.

5. The commissioners of common schools of the said city shall distribute and pay to the trustees of the said school districts and of mon schools the parts of school districts, the amount so received by them from the said collector and from the county treasurer, in the same proportion in which such sums were collected from the said districts and parts of districts respectively.

to distribute money

Assessors to

6. To enable the supervisors to make the said addition, it shall designate, & be the duty of the assessors of the ward within which such school districts and parts of districts shall be situated, to designate on their assessment rolls the inhabitants who reside within the said districts respectively.

Former act repealed

7. The "Act relative to certain schools in the city of Hudson," passed April 11, 1820, is hereby repealed.

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