First election of directors. How dissolved 7. And be it enacted, That when at least two hundred shares of stock of the said corporation shall be subscribed, the same may be organized and proceed to the first election of directors thereof at the time and place herein above mentioned. 8. And be it enacted, That the said corporation may be dissolved at a general meeting of the stockholders specially Proviso. called for that purpose; provided, that at least three-fourths in value of the stockholders shall concur therein; and upon such dissolution, the directors for the time being, and the survivor or survivors of them, or such persons as the said stockholders shall appoint, shall be trustees for settling all the affairs of the said corporation, collecting and disposing of its property and assets, paying its debts and dividing the surplus among the stockholders in proportion to their respective interests in the stock. 9. And be it enacted, That this act shall go into effect immediately. Approved March 17, 1870. Northern boundary of district de clared. CHAPTER CCCL. A Further Supplement to an act entitled "An Act to set off from the township of Bloomfield, in the county of Essex, a new township, to be called the township of Montclair," approved April fifteenth, eighteen hundred and sixty-eight. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That road district number two described in the supplemental act (approved April first, eighteen hundred and sixty-nine), to the above entitled act, be and the same is hereby enlarged by extending it north to a line parallel with and three hundred feet north of the northerly line of Watchung avenue, carrying the western and eastern boundaries of said district in their present direction north to intersect a continuation of said line, which is hereby de clared to be the northern boundary of said district. 2. And be it enacted, That this act shall be a public act, and shall take effect immediately. Approved March 17, 1870. CHAPTER CCCLIII. A Supplement to the act entitled "An Act to incorporate Public Schools in the town of Phillipsburgh, Warren County," approved March ninth, eighteen hundred and sixty-nine. estimates. 1. BE IT ENACTED by the Senate and General Assembly of Time to make the State of New Jersey, That the estimate of the board of education authorized by the twelfth section of the act to which this is a supplement, shall be made on or before the first Friday of May in each year, and in all cases when said estimate shall exceed the sum of three thousand dollars for the cost of land and erection of a school house thereon, the common council shall consider said excess and reduce, increase or refuse the same, and shall determine by resolution the amount of moneys to be appropriated for the purchase of land and erection of a school house or school houses thereon, which shall not exceed the sum of six thousand dollars in any one year. sessment and 2. And be it enacted, That the tax for the purchase of Manner of as land and erection of school houses thereon shall be assessed, collection of levied and collected at the same time that state, county and tax. township taxes are assessed, levied and collected. 3. And be it enacted, That this act shall be deemed and taken to be a public act, and take effect immediately. Approved March 17, 1870. May issue bonds. How proceeds plied. CHAPTER CCCLIV. An Act to authorize the Common Council of the City of Trenton to issue bonds in aid of public improvements in said city. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That it shall be lawful for the common council of the city of Trenton to issue bonds under the corporate seal of the said city and under the signatures of the mayor and city treasurer for an amount not exceeding fifty thousand dollars, bearing interest, payable semi-anņually, at the rate of seven per centum per annum, and payable at such time or times as may be agreed upon by the common council, not less than three years nor more than ten years from the date thereof, pledging the credit and whole property of the city for the payment of the same; and it shall be lawful for the said common council to sell the same for not less than the par value thereof, as the proceeds of the same may be needed. 2. And be it enacted, That the proceeds of said bonds shall be ap- shall be applied by the common council, at such time or times as they may deem necessary, for the opening and improvement of the streets of said city as may be authorized by the common council and for no other purpose whatever; provided, that such bonds shall not be issued in any case unless a majority of the whole number of said common council shall concur, and that this act shall not be construed to authorize an increase of the permanent debt of the city. Money re ment of assessments to be used to pay bonds. 3. And be it enacted, That whenever any such bonds shall ceived in pay be issued by the said common council and the proceeds applied for the purpose of carrying out any such improvement, it shall be the duty of the common council to apply all moneys received in payment of the assessments for said improvement to the final payment of such bonds and for no other purpose whatever. 4. And be it enacted, That this act shall take effect immediately. Approved March 17, 1870. CHAPTER CCCLV. An Act to incorporate the Washington Fire Company, Number name. 1. BE IT ENACTED by the Senate and General Assembly of Corporate the State of New Jersey, That the legal voters of the township of Matawan, in the county of Monmouth, be and hereby are created and declared to be a body politic and corporate, under the name and style of "The Washington Fire Company, Number One, of Matawan Township, in the County of Monmouth." trustees. 2. And be it enacted, That the legal voters of said town- Election of ship shall, on the second Tuesday of March next, at their annual town meeting, and annually thereafter, elect by plurality of votes five persons as trustees of the said corporation, who shall hold their office for the term of one year, and until others are chosen in their stead; and that David H. Wyckoff, William S. Hornor, William Spader, Charles W. Fountain and Jesse Sickles shall be the trustees of this corporation until the first trustees are elected under this act, and the said trustees by a majority of their number shall have power to grant or annul certificates of membership in said fire company. sonal estate to 3. And be it enacted, That the estate, both real and per- Real and personal, which may hereafter be acquired under this act is hereby be held in vested in said board of trustees, and their successors, in trust trust. always for the benefit of the said corporation, and the said trustees may, from time to time make and enforce such bylaws and regulations as they may deem expedient; a majority of the trustees shall constitute a quorum for the transaction of business. tax to build 4. And be it enacted, That the inhabitants of the said town- May assess ship of Matawan be and they are hereby authorized at their engine house. next annual town meeting to vote for, assess and collect, in the same manner as other taxes are assessed and collected, a sum of money not exceeding two thousand dollars, which money when collected shall be paid over to the board of trustees and be by them applied for the purchase of real filled. estate, and a building for an engine house and apparatus necessary for extinguishing fires. Vacancies how 5. And be it enacted, That vacancies in the board of trustees from death, removal or refusal to serve shall be filled by the remaining trustees. Members to be exempt from jury duty, &e. 6. And be it enacted, That all persons during the period of their actual membership of the company organized by this act shall be exempt from jury and military duty, and all persons having served as members of said company for a period of seven years, and having received a certificate from said trustees of such service, shall be forever exempt from such duty in this state. 7. And be it enacted, That this act shall be deemed a public act, and shall take effect immediately. Approved March 17, 1870. Repealer. Proviso. CHAPTER CCCLVI. Supplement to an act entitled "An Act to incorporate the Astor House Hotel Company," approved March seventeenth, eighteen hundred and sixty-four. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That section five of the act to which this is a supplement be and the same is hereby repealed; provided, that the whole amount of the debt which the said corporation shall at any one time owe shall not exceed the sum of two hundred and seventy-five thousand dollars. 2. And be it enacted, That this act shall take effect immediately. Approved March 17, 1870. |