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Proceedings of town board

Chap. 294.
AN ACT to legalize, ratify and confirm the vote of the electors of

the town of Victor, Ontario county, held on the seventh day of
March, eighteen hundred and ninety-nine, relating to the ac-
quiring of a town house, and to authorize the purchase of a site
for, and the erection thereon of, a town house, in said town of
Victor, and to authorize the said town of Victor to issue bonds

in payment thereof. Became a law April 12, 1899, with the approval of the Governor. Passed,

three-fifths being present. The People of the State of New York, represented in Senate

and Assembly, do enact as follows: post op de Section 1. All the proceedings of the town board of the town of legalizod. ' Victor, Ontario county, in submitting to the electors of said town

a certain resolution, viz.: “Shall we authorize the town board to make an appropriation not to exceed eight thousand dollars, for the purchase of a site and the erection of a town house in the town of Victor,

and to issue bonds for that purpose," and all the proceedings of the annual town meeting of said town held on the seventh day of March, eighteen hundred and ninetynine, be and the same are, and each of them is hereby severally legalized, and in all things ratified and confirmed.

§ 2. The town board of said town is hereby authorized to bor. row upon the faith and credit of said town a sum not to exceed eight thousand dollars, or such part thereof as may be necessary, for the purchase of a site for, and the erection thereon of, a town house in said town of Victor. For the money so authorized to be borrowed, the said town board is hereby authorized to issue the bonds of said town, to be signed by the supervisor and the town clerk thereof, which bonds shall be of such denominations and be payable at such time or times (not exceeding ten years from the date thereof) as said town board shall deem proper; said bonds shall be placed at not less than par and shall bear not exceeding four and one-half per centum per annum.

§ 3. For the payment of said bonds and the interest thereon, the cipal,

said town board is authorized and directed, from time to time, to place in the annual tax levy of said town, in addition to all other sums which they are authorized by law to raise, the amount of any of such bond or bonds as shall fall due in the then succeeding fiscal year, together with any and all interest that shall

Issuo of bonds.

Tax for interest and prin

Purchase
of site and
erection of

house.

become due within the same time, and to levy and collect the same in the same manner as other taxes are collected in said town, an} when so collected to be paid over to the supervisor thereof to be by him disbursed in the due and proper payment and cancellation of such bonds and interest.

§ 4. The said town board of said town is hereby authorized and the site and directed to purchase a suitable site for the erection of a town town house as hereinbefore provided, and to take a conveyance thereof in the name of said town of Victor, and cause to be erected thereon such town house and to complete the same as hereinbefore provided: the said town board is hereby authorized and directed to receive and expend for such purposes the moneys so borrowed.

§ 5. The said town board of said town of Victor, upon the com- Rent pletion of said town house, is hereby authorized to rent, from time house to time, such portions thereof as may not be required for the use of said town, upon the best terms practicable,—the moneys re ceived therefor to be appropriated to the payment of the next bond or interest thereafter becoming due.

$ 0. This act shall take effect immediately.

Conversion

upon coB

Chap. 295.
AN ACT to authorize the Jamestown Co-operative Supply Com-

pany to issue non-transferable stock.
Became a law April 12, 1899, with the approval of the Governor. Passed,

three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows :

Section 1. The Jamestown Coöperative Supply Company may, of shares with the unanimous consent of its stockholders expressed in writ. sent. ing and filed in the offices in which its original certificate of incorporation is filed, convert its shares of stock into non-transferable shares as provided by this act.

§ 2. Upon the filing of such consent, such corporation shall Issue of ingue to its shareholders in exchange for certificates of stock ferable held by them, and upon the surrender of such certificates, share cates, for share, certificates of non-transferable stock. Each such cer. tificate shall contain the name of the person to whom it is issued, and a statement that it is not transferable, except to the corporation.

non-trans

certifi

Withdrawal from cor

Notice of determination of value.

§ 3. Such non-transferable certificates shall not be transferporation. able by the holder thereof, except to the corporation, as provided

by this act. Any stockholder desiring to withdraw from the corporation, shall give to the secretary thereof such notice as shall be prescribed by the by-laws. Upon receiving such notice the directors of the corporation shall determine the value of the stock held by such stockholder, which shall be in amount such proportion of the assets of the corporation as the shares of stock of such stockholder bear to the entire stock of the corporation issued and outstanding. For the purpose of determining the value of the assets of such corporation, the directors may take into consideration the last inventory of the property thereof,

made within three months prior thereto. a $ 4. The directors shall determine the value of the stock of

such stockholder and shall cause notice of such determination

to be mailed to him at his last known post-office address. Within render ten days thereafter such stockholder may present and surrender

to the treasurer of the corporation the certificates of stock held by them and receive the amount due thereon; but a stockholder shall not be compelled to accept the determination of the directors as to the value of his stock, but may continue a stockholder of the corporation in the same manner as if such notice had not been given. Upon the surrender of such certificates, the direct. ors may issue or cancel the same.

§ 5. The directors of such corporation shall not issue to any one person, except in exchange for stock as herein provided, more than one thousand dollars of non-transferable or withdrawal shares, at the par value thereof. : $ 6. This act shall take effect immediately.

Surrender and pay. ment of certificates

Issue of shares restricted

charter

Chap. 296.
AN ACT to amend chapter four hundred and fifty-one of the

laws of eighteen hundred and sixty-seven, entitled "An act to
incorporate the village of Mayville in the town of Chautauqua,
county of Chautauqua and to repeal its present charter relative

to highway taxes." Secame a law April 12, 1899, with the approval of the Governor. Passed,

three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. Section twenty-nine of chapter four hundred and Village fifty-one of the laws of eighteen hundred and sixty-seven, entitled amended. An act to incorporate the village of Mayville, in the town of Chautauqua, county of Chautauqua, and to repeal its present charter," is hereby amended to read as follows:

§ 29. The said village shall constitute a highway district, sub- Highway ject to being divided by said trustees, and the powers and duties of commissioners of highways are hereby devolved upon, and shall be exércised by the trustees of the village, and the jurisdiction of the commissioners and overseers of highways Jurisdicof the town of Chautauqua, within the limits of said village, over the taxable inhabitants, corporations and banking associations, and the property therein, and the highway taxes levied or to be levied on the same or any of them, or any part thereof is entirely abrogated. And the overseers of highways of such district, and Overseers the overseers of highways of such districts as may be made by such ways division, shall from time to time be appointed by the trustees of said village, shall hold their offices during the pleasure of the trus. tees for the time being, and shall act therein under the direction of the president of the board; which overseers shall have the same powers, and exercise the like duties consistent with this act, in their said districts as are by law given to or enjoined upon other overseers of highways; giving in their lists, and being accountable to said trustees, in the same manner as other overseers of highways are bound to do, to the town clerk and to the commissioners of highways. But hereafter all expense incurred by the commissioner of Expenses highways of the town of Chautauqua, on account of its roads and to town bridges and on account of services rendered by him as such com. village.

of town overseers abrogated.

of high

chargeable

outside of

missioner, shall be a charge upon the taxable inhabitants and property of the town outside of the bounds of the village of May. ville, and in no wise a charge upon the same within said village and the same and the whole thereof, shall be certified to the board of supervisors annually by the town board or board of town auditors, for levy and collection upon the taxable inhabitants and property of said town of Chautauqua outside of said village of Mayville, as shown upon the assessment roll of said town.

§ 2. This act shall take effect immediately.

Election and acts legalized

Chap 297.
AN ACT to legalize, ratify and confirm the election of the trustees

of the Evergreen Cemetery Association of Bristol and certain

acts of the officers thereof. Pecame a law April 12, 1899, with the approval of the Governor. Passed,

three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows :

Section 1. The elections of trustees of the Evergreen Cemetery Association of Bristol heretofore held are legalized, and confirmed and shall be of the same force and effect as if such elections had been held upon a date appointed in pursuance of law, and as if the voters thereat had been duly qualified as provided by law. Conveyances of lots in the cemetery of such corporation heretofore made and signed by the president and secretary, or the vicepresident and secretary are hereby legalized and confirmed and shall be of the same force and effect as if they had been signed by the president and treasurer, or vice-president and treasurer of such corporation, as required by law.

§ 2. This act shall take effect immediately.

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