and collected, upon the taxable real and personal property of said town of Johnstown, at the same time and in the same manner as other taxes are levied and collected, such sum or sums as shall be necessary to make good all arrears of payments upon such town bonds that have fallen due and remain unpaid, as shown by such report, and the same, when collected, shall be paid to said commissioners, and by them applied, as soon as practicable, to the payment of principal or interest, or both, as the case may be, then due upon said bonds.

$12. It shall also be the duty of said railroad commissioners, upon the receipt of any money from the treasurer of said company, or otherwise, upon or on account of such town bonds, forthwith, or as soon thereafter as the same shall become due upon such bonds, to pay the same to the bondholders upon such Payment to bonds, and upon the payments then due thereon, and ers. apon all such payments such commissioners shall demand, and be entitled to receive, from the person receiving such payment, a proper receipt as a voucher for such payment.

bondhold

in case of

$13. In case of a foreclosure of the mortgage, Proceedings required by the seventh section of this act, upon any foreclosure. sale under such foreclosure, the said railroad commissioners are hereby authorized and required to bid for the mortgaged property a sum equal to the amount then remaining unpaid upon such town bonds, principal and interest, for the benefit of said town of Johnstown, and become the purchaser of said property, if the same shall be awarded or struck off to them upon such bid.

$14. The mortgage mentioned and provided for in and by the seventh section of this act, shall be recorded in the office of the clerk of the counties of Fulton and Montgomery, and shall constitute a lien, according to the provisions thereof, upon all the property and interest assumed to be thereby mortgaged, whether such property or interest existed and belonged to said railroad company at the time of its execution, or shall be created or acquired by said company at any time after the execution of said mortgage, while said mortgage remains operative, not being paid

Upon what mortgage

property

to be a lien.

Fare.

Trustees

may build

in full or foreclosed, such mortgage shall be deemed a mortgage of real property.

S 15. Such railroad commissioners shall be eligible to the office of director of said railroad.

S 16. It shall be lawful for said railroad company to charge and receive, for each passenger transported or conveyed on said railroad, a sum not exceeding six cents for each mile.

$17. This act shall take effect immediately.

Chap. 18.

AN ACT to amend an act entitled "An act pro viding for the erection of a Public Hall in the village of Palmyra, and the means for paying the expenses thereof," passed April tenth, eighteer hundred and sixty-six.

Passed February 1, 1867; three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows:

SECTION 1. Chapter four hundred and eighty of the Laws of eighteen hundred and sixty-six, is hereby amended so as to read as follows:

S1. The trustees of the village of Palmyra are public hall. hereby authorized to erect upon the lot of land now owned by the said village, a building such as in thei opinion shall be suitable for the uses of said village and for a public hall, at an expense not exceeding twenty thousand dollars; and the said trustees for this purpose may borrow, upon the faith and credit of said village, such sum, not exceeding twenty thousand dollars, as they shall deem necessary for the purpose Amount of of erecting and furnishing said building. The amount borrowed to be paid in yearly installments of one thousand dollars each, together with the interest on the whole sum due and to become due at the time of each payment.

loan.

Issue of bonds of village.

$2. The said trustees shall execute the bonds of the said village, not exceeding in the aggregate the sum of twenty thousand dollars, in sums of from one hundred to one thousand dollars each, with coupons

of

attached, bearing interest at the rate of seven per cent per annum, one thousand dollars to be made payable each year, together with the interest on all the bonds due and to become due. The first two thousand dollars issued are to draw interest from the first day of November, eighteen hundred and sixtysix, and the remainder of the bonds to be on interest from the date of their issue. The said bonds shall not be sold by the trustees at less than par, and the avails shall be applied for the purposes mentioned in said first section of this act.

Application profits of

of rents and

hall.

payment of

33. The rents and profits of said building, after paying all expenses of insurance, repairs, warming, lighting and taking care of the same, shall be applied each year toward the payment of the said bonds. And the trustees of said village of Palmyra shall each year levy and cause to be collected, in the same manner and at the same time as other village taxes are levied and collected, a tax upon all the taxable property that may from year to year be assessed within said village, which in amount, taken together with the net proceeds of said rents and profits of said building, shall be sufficient to pay the interest on all of said Tax for bonds remaining unpaid, and one thousand dollars bonds. of the principal of the debt created under the provisions of this act, and the said amount shall be applied annually toward the extinction of said bonded debt. $4. The collector and treasurer of said village, shall Collector give such securities as said trustees shall deem proper in view of the increased responsibilities imposed by this act; and any trustees or other officer of said village, into whose keeping shall come any portion of the money raised, collected or borrowed under the provisions of this act, shall execute and deliver to the treasurer of said village a bond with two sufficient sureties, conditioned for the faithful keeping and disbursement of such moneys as provided by this act. 35. This act shall take effect immediately.

and treasurer to give security.

1

Action of council ratified.

Amount council may

Chap. 19.

AN ACT to authorize the city of Poughkeepsie t
borrow money to pay for the land given b
said city and the county of Dutchess, to the
people of the State of New York, as a site fc.
the Hudson River Asylum for the Insane.

Passed February 1, 1867; three-fifths being present.
The People of the State of New York, represented i
Senate and Assembly, do enact as follows:

SECTION 1. The action of the common council ca
the city of Poughkeepsie, in the adoption of th
resolutions passed by said council on the sevent
day of January, eighteen hundred and sixty-seve
authorizing the raising upon the bonds of said cit
of three fifths of such sum as may be necessary C
secure the location of a State lunatic asylum on th
Roosevelt property and the Davies property, nor
of the city of Poughkeepsie, not to exceed the sum
fifty thousand dollars, to be given to the peop
of this State as a site for an asylum for the insan
is hereby ratified and confirmed and declared as val
and as effectual as if said common council had pr
viously been authorized by law to take such actio

$2. The common council of the city of Poug borrow, &c. keepsie are hereby authorized to borrow, on the cred of said city, the sum of fifty thousand dollars, pay three-fifths of the amount necessary to purcha the Davies and Roosevelt farms near said city, to given by said city and the county of Dutchess to t people of the State of New York as the site of t Hudson River Asylum for the Insane.

Bonds.

Tax.

$3. The common council of said city are here authorized to issue bonds or certificates of indebte ness for said sum in the name and under the seal said city, to be signed by the mayor and chamberla thereof, in such amounts, at such rates of intere (not exceeding the legal rate), and payable at su times as said common council shall fix and direct. $ 4. Due provision by tax shall be made in ea year, by the said common council for the payment

the principal and interest falling due on said bonds
or certificates, as the same shall become due or
mature; and such interest and principal shall be
assessed, levied and raised in the same manner as
any other public or general tax of said city, and in
Conjunction with the general taxes of said city.
$5. This act shall take effect immediately.

Chap. 20.

AN ACT relative to the Albany City Fire Insurance Company.

Passed February 2, 1867. The Feople of the State of New York, represented in Senate and Assembly, do enact as follows:

name.

SECTION 1. The Albany City Fire Insurance Company, a corporation organized under the general insurance law of this State, shall hereafter be known as the Albany City Insurance Company, and the said Change of company shall have, possess, and enjoy full marine insurance powers and privileges, with all their incidents, and all the powers, franchises and rights, conferred upon marine insurance companies, under the general law to provide for the incorporation of insurance companies, passed April tenth, eighteen bindred and forty-nine, and all laws amendatory thereof, and in addition thereto. But such change in the corporate name of the said company shall not affect any action or legal proceeding now pending, or any liability of the said company.

capital.

$2. The directors of the said company may, at any time, and from time to time hereafter, increase the Increase of capital stock thereof, to an amount not exceeding in the whole, one million of dollars, which increase shall be made on such terms, conditions and arrangements, in all respects, as the said directors may from time to time deem expedient, subject, however, to the provisions of the general laws in relation to the payment in cash of the capital stock so increased.

$3. The original capital stock of the said company having been impaired by losses, and the directors havfing found it necessary to call on the stockholders