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funds, bonds or obligations, or the avails of such bonds or obligations, in furnishing such court house, jail and clerk's office with suitable furniture, in supplying such court-house with a bell, a clock, water, and apparatus for heating such court-house, and in grading and fencing the grounds appertaining to such buildings, and transplanting trees upon said grounds.

bonds of

made valid.

5. The bonds or obligations of individuals here- Certain tofore given and executed to aid in the construction individuals of said court-house, jail and clerk's office, are hereby declared valid and binding, and may be collected, disposed of and used by the said building commissioners for that purpose.

§6. This act shall take effect immediately.

Chap. 567.

AN ACT to authorize the city of Brooklyn to borrow money upon certificates of indebtedness for the purchase of school sites and the building of school-houses.

Passed April 23, 1867; three fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Amount of of indebted may issue.

certificates

ness city

able.

SECTION 1. The mayor, comptroller and clerk of the city of Brooklyn are hereby authorized and directed, upon the requisition of the board of education of said city to issue certificates of indebtedness of the said city of Brooklyn for the sum of four hundred and fifty thousand dollars, ninety thousand dollars of which shall be payable on the first day of When payJanuary, one thousand eight hundred and sixty-eight, the further sum of ninety thousand dollars shall be payable on the first day of January, one thousand eight hundred and sixty-nine, the further sum of ninety thousand dollars shall be payable on the first day of January, one thousand eight hundred and seventy, the further sum of ninety thousand dollars shall be payable on the first day of January, one thousand eight hundred and seventy-one, and the further sum of ninety thousand dollars shall be pay

able on the first day of January, one thousand eight hundred and seventy-two; such certificates to bear interest at the rate of seven per cent per annum. The proceeds of the sale of such certificates shall be whom to be paid to the treasurer of said city of Brooklyn, as

Proceeds o

sale to

paid and

how ap

plied.

Tax for payment of principal

and interest.

treasurer, ex officio, of the said board of education, and placed to the credit of said board, and shall be applied by said board to the purchase of such school sites and the building of such school-houses in the city of Brooklyn as the said board of education shall determine to be necessary and proper.

$2. There shall be added to the general tax of the city of Brooklyn at large, in the year one thousand eight hundred and sixty-seven, and levied and collected therein a sufficient sum for the payment of the principal and interest of the certificates of indebtedness issued as aforesaid, falling due in the year one thousand eight hundred and sixty-eight; and there shall be added to the general tax of the city of Brooklyn at large, in the year one thousand eight hundred and sixty-eight, and levied and collected therein a sufficient sum for the payment of the principal and interest of the certificates of indebtedness, issued as aforesaid, falling due on the first day of January, one thousand eight hundred and sixty-nine; and there shall be added to the general tax of the city of Brooklyn, at large, in the year one thousand eight hundred and sixty-nine, and levied and collected therein a sufficient sum for the payment of the principal and interest of the certificates of indebtedness issued as aforesaid, falling due on the first day of January, one thousand eight hundred and seventy; and there shall be added to the general tax of the city of Brooklyn at large, in the year one thousand eight hundred and seventy, and levied and collected therein, a sufficient sum for the payment of the principal and interest of the certificates of indebtedness. issued as aforesaid, falling due on the first day of January, one thousand eight hundred and seventyone; and there shall be added to the general tax of the city of Brooklyn at large, in the year one thousand eight hundred and seventy-one, and levied and collected therein a sufficient sum for the payment of

the principal and interest of the certificates of indebtedness issued as aforesaid, falling due on the first day of January, one thousand eight hundred and seventytwo.

$3. All acts and parts of acts inconsistent with this act, are hereby repealed.

§ 4. This act shall take effect immediately.

Chap. 568.

AN ACT to amend an act entitled "An act in relation to the New York Protestant Episcopal Public School," passed April sixteenth, eighteen hundred and fifty-nine.

Passed April 23, 1867.

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

SECTION 1. The first section of an act entitled "An act in relation to the New York Protestant Episcopal public school," passed April sixteenth, eighteen hundred and fifty-nine, is hereby amended so as to read as follows, to wit: The supreme court is hereby empowered, from time to time, at any special term thereof, to be held in the first judicial district of this State, on the petition of the trustees of the New York Protestant Episcopal public school, or of any person holding a life estate in any part of the lands hereinafter mentioned, after due notice to such trustees and to the holder of such life estate, to order a sale and conveyance or mortgage of such portions of the lands in the Nineteenth ward of the city of New York, held by the said trustees, or by other parties, under the will of John Baker, dated the twentieth day of September, in the year one thousand seven hundred and ninety-six, as shall be necessary to pay any assessment or assessments, tax or taxes imposed or to be imposed on said lands or any part thereof, or to redeem the said lands from any sale or sales for taxes or assessments, which sale shall be conducted in such manner and upon such notice and under such restrictions as the said court may direct. But no such sale or conveyance or mortgage shall impair or

Name

changed.

affect the right of any lessee of any part of said lands or any right thereon, or claim thereto of any heir of said John Baker.

Chap. 569.

AN ACT to amend an act entitled "An act to incorporate the National Union Life and Limb Insurance Company of New York," passed April twenty-fifth, eighteen hundred and sixtythree, and the several acts amendatory thereof. Passed April 23, 1867.

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

SECTION 1. The act entitled "An act to incorporate the National Union Life and Limb Insurance Company of New York," passed April twenty-fifth, eighteen hundred and sixty-three, and the several acts amendatory thereof, are hereby amended so as to read as follows:

S2. The name of the company shall be the National Location of Life Insurance Company of New York, and its principal office shall be located in the city of New York.

chief office.

Business of
Company.

Capital stock.

S3. The business of the company shall be to make insurance upon the lives of individuals, and every insurance appertaining thereto, or connected therewith; and to grant, purchase or dispose of annuities, as set forth in the first department of the first section of the act passed June twenty-fourth, eighteen hundred and fifty-three, by the legislature of the State of New York, entitled "An act to provide for the incorporation of Life and Health Insurance Companies, and in relation to agencies of such companies," and this company shall possess and enjoy all the powers, privileges and franchises granted to, and shall be subject to all the regulations, restrictions and obligations imposed upon incorporations organized and existing under the said act of June twentyfourth, eighteen hundred and fifty-three, and the amendments thereto.

S4. The capital of the said company shall be one hundred and thirty thousand dollars, and the capital

stock shall be divided into shares of fifty dollars each, which shall be personal property transferable only on the books of the company in conformity with its by-laws. The board of directors shall have power to increase the capital stock of the said company to an extent not exceeding, with the stock heretofore issued, the sum of two hundred thousand dollars.

and officers.

35. The corporate powers of the company shall be Directors vested in and exercised by a board of directors, and by such officers and agents as the board may appoint and empower.

36. The board of directors shall consist of not less than thirteen, nor more than twenty-five persons, a majority of whom shall be citizens of the State of New York, and at least two-thirds of whom shall each own and hold in his own right at least ten shares of the capital stock of the company, and the remaining third may be insurers of life or endowment policies, each paying a premium to the company of at least one hundred dollars per annum, or shall be entitled to an annuity of at least one hundred dollars per annum from the company.

of whom rectors shall

board of di

consist.

37. Seven directors shall constitute a quorum for Quorum the transaction of business, but a less number may meet and adjourn, from time to time, until a quorum is present.

8. The board of directors shall have power to By-laws make and prescribe such by-laws, rules and regulations for the conduct of its affairs, not inconsistent with law or this charter, as may be deemed expedient. $9. The board of directors shall also have all other powers usually vested in boards of directors of life insurance or annuity companies, not inconsistent with the constitution or the laws of this State or with this charter, and may at any time accept and exercise any or all additional powers and privileges which may be conferred by law upon this, or in general upon life insurance or annuity companies.

of directors.

S 10. The following named persons, having been First board duly elected, shall constitute the first board of directors under this charter, to wit: Edward A. Jones, Henry J. Raymond, John C. Dimmick, James R. Dow, Howell Smith, Franklin H. Summers, Henry

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