Chap. 221.—An ACT to Authorize Counties, Cities, Towns and Townships
to Endorse the Bonds of the Washington, Cincinnati and St. Louis
Railroad Company. ~

In force March 23, 1878.

1. Be it enacted by the general assembly, That whenever the
president of the Washington, Cincinnati and St. Louis Railroad
Company may request the county court of any county, or the
common council or board of trustees of any city or town, or
township board of any township, in this commonwealth, the
said court, common council, board of trustees or township
board, may make an order requiring the sheriff or sergeant,
and commissioners of election, at the next general election for
state, city, town, or county or township officers, or at any
other time, not less than thirty days from the date of said
order, which shall be designated therein, to open a poll and
take the sense of the qualified voters on the question whether
the board of supervisors, council, or board of trustees, or town-
ship board, shall endorse or guarantee the payment of the
bonds of said company, and the interest thereon, named in the
order, or the payment of the interest only, on the amount of
the bonds of said company, named in the order.

2. The said order shall state the maximum amount of the bonds
of the said company proposed to be endorsed or guaranteed, or
the amount of the bonds of said company the interest of which it
is proposed to endorse or guarantee, which shall in no case ex-
ceed one-fifth of the total capital stock of said company.

3. The commissioners of election who, if there be none other-
wise legally appointed, shall be designated in the order autho-
rizing the vote, after taking an oath faithfully to discharge the
duty assigned to them, shall open polls at the various places of
voting in the said county, city or town, or township, designated
in the order, and at the time therein designated, and shall con-
duct such election and close the polls in such manner as is pro-
vided by law in other elections; and at said election each quali-
fied voter who shall approve such endorsement or guarantee
shall deposit a ticket or ballot on which shall be written or
printed the words “For endorsement or guarantee,” and each
voter who shall oppose said endorsement or guarantee shall
deposit a ticket or ballot upon which shall be written or printed
the words “Against endorsement or guarantee,” and each ballot
shall be endorsed with the name of the voter, which shall be
inspected by the officer or officers conducting the elections at
the respective voting places. The commissioners of election
at the several places of voting shall, immediately after the
closing of the polls at each said place, count the ballots de-
posited, and shall, within two days after said election, make
return to the judge of the county court, or to the president or
other presiding officer of the council or board of trustees of
the city or town, of the number of votes cast for, and the num-
ber of votes cast against, endorsement or guarantee; and shall
return to and deposit with the clerk of said court, council or
board of trustees, in separate sealed packages, the ballots for
and against endorsement or guarantee. And the said judge,
president or presiding officer shall appoint four citizens of the
county, city or town, or township, who, with the clerk afore-
said, shall constitute a board of commissioners, whose duty it
shall be, within two days thereafter, to meet at the office of
said clerk, and, having taken an oath before said clerk faithfully
to discharge their duty, open the said packages of ballots,
count the same, correct the return if needed, and ascertain and
report how many of said ballots were cast for and against
endorsement or guarantee, respectively; which said reports,
signed by a majority of said board, shall be entered on the
order-book, or other proper record-book, of the said court,
council or board of trustees.

4. If it shall appear by the report of the board of commis-
sioners that three-fifths of the qualified voters of the county,
city, or town, or township, voting upon the question, are in fa-
vor of endorsement or guarantee, and that the said three-fifths
include a majority of the votes cast by freeholders at such
election, and a majority of the registered votes of the county,
city, or town, or township, the county court, council, or board
of trustees, shall, at its next session, enter of record an order
requiring the supervisors of the county, or the members of the
council, or board of trustees, or of the township board, to at-
tend, on a day and at a place named in the order, to carry out
the wishes of the voters as expressed at said election.

5. Ifa majority of the whole number of supervisors or coun-
cilmen, or trustees, or township board, be not present at the
time and place so designated, they shall adjourn from time to
‘time until a majority shall be present, when they shall deter-
mine what amount of bonds, and interest thereon, of the said
company, or the interest thereon only, not exceeding the max-
imum aforesaid, shall be endorsed or guaranteed for on behalf
of the county, city or town, or township, and shall enter of
record the amount so agreed upon, and thereupon shall appoint
an agent or agents to make the endorsement or guarantee.
For the purpose of paying the said bonds of said company so
endorsed or guaranteed, and the interest thereon, or to pay
the endorsed or guaranteed interest on the bonds of said com-
pany only, the board of supervisors, or the council, or board of
trustees, or township board, shall have power to appoint an
acvent or agents to negotiate a loan or loans, and to issue bonds
to secure the payment of the same for and in the name of said
county, city, town or township, which may be either registered.
or coupon, as may be prescribed; and when the levy is made,
or city or town tax imposed, in said county, city or town, or
township, a tax shall be levied on all property liable to
state tax in such county, city or town, or township, to
pay the amount of such bonds endorsed or guaranteed,
and the interest thereon, or to pay the interest endorsed
or guaranteed, on the bonds of said company, or of such
loan and interest thereon, or to pay the interest on the
bonds so issued, and to create a sinking fund to redeem the
principal thereof, as the authority ordering the levy or tax may
dieem necessary and proper; and from year to year said levy or
assessment shall be made, until the debt and interest are paid.
The board of supervisors, or the council, or board of trustees,
or township board, shall have power at any time to convert
any debt due from said railroad company to each or any of
them into the capital stock of said company at par, and appoint
proxies to represent said county, city, town or township, in the
meetings of the stockholders, and also an agent to collect the
dividends on the stock of the said company.
6. This act shall be in force from its passage.