§2. The second section of said act, entitled "An act to amend an act entitled an act to incorporate the Washington Volunteer Fire Company, of the Village of Troy," is hereby amended so as to read as follows: §3. The several members of said company shall annually, officers. on the first Monday of January, in each year, at such place in the city of Troy, as the majority of them shall direct, by plurality of votes, elect one of their members to be foreman of said company; one other of their members to be first assistant foreman and one other of their members to be second assistant foreman, and one other of their members to be secretary, who shall also act as secretary and treasurer of said company, who shall severally continue in office for one year; and the foreman so chosen shall have power to call meetings of the said company whenever he shall think proper, for any purposes connected with the object of said corporation. A certificate under the common seal of said corporation signed by the foreman and secretary thereof, shall be deemed and taken in all places as competent evidence that the person to whom it is given, is a member of said company, or has served for five years, so as to entitle him to the privileges and exemptions of an exempt fireman, and entitled to all the privileges and exemptions in and by the acts hereby amended, granted to the members of said company, or by the laws of this State, given to firemen or members of a fire company, or exempt firemen, in any of the cities or villages in this State. § 4. This act shall take effect immediately. Chap. 66. AN ACT to authorise any town or city in the county of Passed, March 14, 1855, three-fifths being present. §1. On the application in writing of twelve or more freeholders, residents of any town or city in either of the coun Town meeting to missioners elect com Money may be borrowed. Bonds. Bonds how disposed of. ties of Oneida, Madison, Chenango or Broome, it shall be the duty of the supervisor, town clerk and justices of the peace, or a majority of them, to call a public meeting of the taxable inhabitants, that are assessed on personal or real estate, of such town or city, by posting at least sixteen notices in the most public places in such town, or city, not less than fifteen days previous to such meeting, which meeting when assembled shall elect by ballot not less than two nor more than five freeholders, residents of said town or city, to be commissioners for said town or city, to execute and carry into effect the purposes of this act. §2. It shall be lawful for said, commissioners, to borrow on the faith and credit of such town or city, provided the consent in writing of persons owning more than twothirds of the value of the real estate in said town or in the city of Utica appearing upon the last assessment roll, shall be first obtained, proof of which shall be by affidavit of one of said commissioners, filed in the town and county clerk's office, any sum of money not exceeding one hundred thousand dollars if a town, and three hundred thousand dollars if a city, for a term not exceeding twenty years, at a rate of interest not exceeding seven per cent per annum, and to execute bonds therefor under their hands and seals; the bonds so to be executed, may be in such sums and payable at such times and places, not exceeding twenty years, and in such form as the said commissioners and their successors may deem expedient. $3. The commissioners authorized by this act, may in their discretion, dispose of such bonds, or any part thereof, to such persons or corporations, and upon such terms as they shall deem most advantageous to said town or city, but not for less than par; and the money that shall be raised by any loan or sale of bonds, shall be invested in the stock of the Utica and Binghamton railroad company, and the said money shall be applied and used in the construction of such railroad as aforesaid, and in its buildings and necessary appurtenances, and for no other purpose whatever; and for that purpose the commissioners in the corporate name of said town or city, may subscribe for or purchase stock of the said company to the amount of the said sum of one hundred thousand dollars if a town, and three hundred thousand dollars if a city; and by virtue of said subscription or purchase of said stock, and upon receiving certificates or the transfer of certificates for the amount of said stock so subscribed for or purchased by them, the said town or city shall acquire all the rights and privileges, and be liable to the same responsibilities as other stockholders of said company; and it shall be lawful for the commissioners provided for in this act, or either of them, with the consent of the other, to participate in and to act in all the regular and legally authorised meetings of the stockholders, and either of them may act as director of said company, if he shall be duly elected as such. report of §4. The said commissioners, authorised by this act, shall Annual report to the board of supervisors of the county wherein debt." said town or city is located, within three days after the commencement of their regular annual session in each year, the amount required to pay principal or the interest, if any, on the said bonds authorised to be issued under and by virtue of this act. The dividends arising from the stock so Dividends. subscribed for or purchased by said town or city in pursuance of this act, or so much thereof as may be necessary, shall be received by the said commissioners and by them applied to the payment of the interest which shall from time to time accrue upon the bonds authorised to be issued by this act; and in case such dividends shall not be found sufficient in any one or more years to pay the interest accruing on said bonds, it shall be and is hereby made the duty of the said board of supervisors, and they are hereby authorised and required to cause to be assessed, and levied, and collected, upon the real and personal estate of said town or city, at the same time and in the same manner as other taxes are assessed, levied, and collected, such sum or sums of money as shall have been reported to said board of supervisors by the said commissioners authorised by this act, to be necessary to make good such deficiency in the payment of the interest on the said bonds, and the same when collected shall be paid to the said commissioners, and be by them applied to the payment of the interest on said bonds, or so much thereof as shall remain unpaid after the application of the said dividends to that purpose. bonds how 5. The said commissioners of each town or city, elected Payment of under and by virtue of this act, shall provide for the an- provided nual payment of at least one-twentieth of the bonds issued for. by said town or city, so as to insure the final liquidation of such bonds within twenty years after the date of said bonds, and for that purpose they shall receive and apply it expedient to comply with the provisions herein contained, each town and each city to act separately in the premises, and to have the full benefit of this act without co-operation with any other town or city. §11. This act shall take effect immediately. Chap. 67. AN ACT to extend the time for the collection of taxes in the town of Watervliet. Passed March 15, 1855. The People of the State of New-York, represented in Senate and Assembly, do enact as follows: §1. If the collector of taxes in the town of Watervliet in the county of Albany, shall renew his sureties to the satisfaction of the supervisor of the town, and pay over the moneys by him previously collected, at the date of the renewal of his bonds, the time for collecting and making final returns of taxes of said town, is hereby extended to the first of May next. § 2. This act shall take effect immediately. Chap. 68. AN ACT to authorise the town of New Windsor, in the county of Orange to erect a bridge over the Moodna creek, and to borrow money therefor. Passed March 15, 1855, three-fifths being present. The People of the State of New-York represented in Senate and Assembly, do enact as follows: §1. The commissioners of highways of the town of New Windsor in the county of Orange, are hereby authorised and required to erect or cause to be erected as soon as practicable, a suitable bridge across the Moodna creek in the said town of New Windsor, and they are hereby authorised to borrow money for that purpose not exceeding the sum of eighteen hundred dollars, upon the credit of said 1 town, and required to report the amount so-borrowed to the board of supervisors of said county at their next annual meeting. §2. The board of supervisors of the county of Orange shall at their next annual meeting, after receiving the re port of the commissioners of highways, as mentioned in the first section of this act, cause the amount so borrowed by them, to be assessed upon the taxable inhabitants of said town of New Windsor in the same manner as other taxes for roads and bridges are by law assessed. §3. This act shall take effect immediately. Chap. 69. AN ACT to amend the act entitled "An act to enforce the responsibility of the stockholders in certain banking incorporations and associations, as prescribed by the Constitution, and to provide for the prompt payment of demands against such corporations and associations," passed April 5, 1849. Passed March 15, 1855. The People of the State of New-York, represented in Senate and Assembly, do enact as follows: §1. The eleventh section of the act, entitled, "An act to enforce the responsibility of stockholders in certain banking incorporations and associations, as prescribed by the constitution, and to provide for the prompt payment of demands against such incorporations and associations," passed April fifth, eighteen hundred and forty-nine, shall be modified and amended so as to read as follows: Every receiver appointed according to this act, after giving security, shall take into his possession all the property, effects, books, papers, accounts and demands against such corporation or association; including the securities, if any, which may have been deposited with the superintendent belonging to such corporation or association, excepting therefrom so much of the same as may be necessary to enable the superintendent of the banking department to pay and redeem the outstanding circulation of such corporation or association. He shall immediately give notice, by pub |