9. And be it enacted, That this act shall be deemed a public act, and shall take effect immediately. Approved March 17, 1870.

CHAPTER CCCCXIX.

An Act to organize a Board of Sewerage for the City of New

Brunswick.

ers of sewer

1. BE IT ENACTED by the Senate and General Assembly of Commissionthe State of New Jersey, That Lyle Vannuis, John B. Hill, Elias Ross and Joseph F. Fisher, of the city of New Brunswick, be and they are hereby appointed a board of commissioners of sewerage in and for said city of New Brunswick, whose term of office shall continue until others are elected by the legal voters of said city in their place and stead respectively, one of whom shall be elected in each successive year, commencing with the annual election of officers in the year eighteen hundred and seventy-one, and at the first meeting of said commissioners they shall by lot designate the commissioners to retire from office on the first, second, third and fourth years.

ers shall take

2. And be it enacted, That said commissioners so to be Commissionelected shall be citizens of this state and residents of said th city for at least three years before elected, and of the age of thirty years; and the commissioners hereby appointed, and their successors, shall, before entering upon their duties, each make and subscribe an oath or affirmation faithfull, to perform the duties of such commissioner, and that without charge, pay or pecuniary emolument, directly or indirectly.

power to con

ers, &c.

3. And be it enacted, That such board of commissioners Shall have shall have full power to order and construct or cause to be struct sew constructed all sewers or drains, bridges or culverts in any part of said city of New Brunswick, (proposals for the execution of said work having been advertised for at least thirty days in two of the newspapers printed in said city), and are hereby invested with all the powers relative to sewerage con

Proviso.

Map or diagram of plan

shall be made.

Improvement certificates.

Certificates, how paid.

Proviso.

Commission

ferred by the charter of said city upon the mayor and common council of said city, and such additional powers as may be needful to carry this act into full effect, and to that end may make or alter the grade of any street, highway or alley of said city; provided, the concurrence of the city council is first had and obtained.

4. And be it enacted, That it shall be the duty of said board to devise and form a plan for the general sewerage of said city, and having respect to its extension and probable growth, and cause the same to be delineated or a map or diagram, one or more, and cause the same to be executed or the sewerage made in whole or in parcels or by sections in such manner as not to prevent the completion of the whole as systematized.

5. And be it enacted, That it shall be lawful for said board to issue "Improvement Certificates," to be issued in such form and for such amounts as they may deem expedient, to an amount not to exceed fifty thousand dollars at any one time, to be applied exclusively in payment for work done or materials furnished for the construction of such sewers and their appurtenances, and as the same shall be approved and accepted, which certificates shall be made payable in eighteen months from the date thereof, with interest not to exceed seven per centum per annum.

6. And be it enacted, That such improvement certificates shall be paid by moneys received from assessments to be made by said board upon property or lands adjacent to or in vicinity of such sewers, and proportioned to the benefits derived therefrom, to be estimated by said board; provided, that in making such assessments the same lands or property shall not be subject to more than one assessment for the construction of such sewers and appurtenances.

7. And be it enacted, That in making such assessments ered by award, and enforcing the same, the said board shall have the powers given by said charter to the mayor and common council of said city relative to improvements by sewerage, and shall proceed in the execution of such powers in the mode prescribed by the several sections of said charter applicable thereto as nearly as may be, except that said board may proceed by award, which shall have the force and effect of an ordinance passed by the mayor and common council of said city.

8. And be it enacted, That in default of making payment

ance to be

ral assessment

of such improvment certificates, in manner aforesaid, the un- Unpaid balpaid balance due thereon from time to time shall be deemed paid by genea debt of said city, and shall be paid by general assessment as in cases of other debts of said city, to be made as provided by said charter.

9. And be it enacted, That the several provisions of said Repeater. charter inconsistent with this act are hereby repealed.

10. And be it enacted, That this act shall take effect imme

diately.

Approved March 17, 1870.

CHAPTER CCCCXXI.

An Act to incorporate the Hoboken Coal Company.

porators.

name.

capital stock.

1. BE IT ENACTED by the Senate and General Assembly of Names of corthe State of New Jersey, That William S. Halliday, William W. Pierson, Charles Runyon, Edgar F. Randolph and A. H. Wallis, and such other persons as they may associate with them, and their successors, shall be and are hereby created a body politic and corporate, in fact and in law, by the name of The Hoboken Coal Company;" that the capital stock of Corporate the said corporation shall be fifty thousand dollars, with the power of increasing it to five hundred thousand dollars, di- Amount of vided into shares of one hundred dollars each, which shall be subscribed and paid in at such times, upon such notice, and in such manner and installments as the directors of said corporation by their by-laws or otherwise may direct; that such payments shall be made either in money or in real or personal property, and in case of payment in real or personal property the directors of said corporation may issue, in payment therefor, the stock of the said corporation, upon such terms as they may deem best for its interests; that in case of the failure of any stockholder to pay any installments on his or her stock at the place, within thirty days of the time, appointed by the said directors for the payment thereof, his

Stock trans

ferable.

Election of directors.

Proviso.

First directors

or her share and shares of stock may be sold at public auction to the highest bidder, upon such notice and in such manner as the by-laws of the said corporation may prescribe, and the proceeds of such sale may be applied to the payment of any such installment, and each subscriber to the capital stock of said corporation shall be personally liable to said corporation for the full payment of all the stock that shall be subscribed for by him or her until such stock shall be fully paid

for.

2. And be it enacted, That the capital stock of said corporation shall be deemed personal property, and the shares of stock shall be transferable in such manner as the board of directors by their by-laws may direct; and every share of stock shall entitle the holder thereof to one vote, either in person or by proxy.

3. And be it enacted, That the said corporation shall be organized and shall have all the rights and powers conferred by by this act when one hundred thousand dollars of its capital stock shall be subscribed; the affairs of said corporation shall, after its organization, be managed by such directors to be chosen, except as hereinafter provided by the stockholders of said corporation, annually at such time and in such manner as the by-laws of said corporation may direct; a majority of the directors shall be a quorum for the transaction of business, and the said directors shall serve for one year and until others are chosen in their stead, and at least ten days' previous notice of the election of directors shall be given by the publication thereof in a newspaper printed and published in the county of Hudson; said directors shall from time to time elect a president of the said corporation from their own number, who shall hold his office until the next annual election for directors, and until another shall be elected in his place, and they may also appoint such other officers as they may deem necessary; and any vacancy in the board of directors may be filled by the remaining directors until the next election; and if for any reason the election for directors shall not be held at the time appointed, the corporation shall not for that reason or cause be dissolved, but such election may be held at any time thereafter; provided, ten days' notice shall be given of such election by the publication. thereof in some newspaper published in the county of Hud

son.

4. And be it enacted, That William S. Halliday, William

W. Pierson, Charles Runyon, Edgar F. Randolph and A. H. Wallis shall be the first directors of said corporation, and shall be authorized to receive subscriptions for the capital stock of said corporation, and a majority of them shall, as soon as convenient after the sum of ten thousand dollars of the capital stock shall be subscribed for, assemble and organize such corporation, and they shall continue in office until others, as herein before directed, shall be chosen in their stead.

hold and sell

sonal estate.

5. And be it enacted, That the said corporation be and May purchase, the same is hereby authorized and empowered to carry on the real and perbusiness of dealing in, selling and disposing of coal of every description, and to take, hold, use, possess, convey, mortgage and dispose of real and personal property of every description, and said corporation shall at all times have an office in this state where a legal process may be served upon it.

capital stock.

6. And be it enacted. That the amount of the capital of May increase the said corporation may be increased from time to time as the board of directors shall determine to an amount not exceeding five hundred thousand dollars.

ers.

7. And be it enacted, That the said directors may from General powtime to time make, alter and repeal by-laws for the government of the said corporation, its officers and agents, the preservation and use of its property and the conduct and management of its business; provided, that no such by law Proviso. shall conflict with any law of the state; and the said board of directors may hold its meetings in the city of New York.

8. And be it enacted, That the real and personal property Not exempt of the said corporation shall be subject to taxation in like from tax. manner as the property of individuals.

9. And be it enacted, That the said corporation shall Restrictions. possess all the rights and powers and be subject to all the liabilities incident to a corporation, and particularly that it shall possess all the rights and powers and be subject to the restrictions and liabilities provided for in an act entitled "An Act concerning corporations," approved February fourteenth, one thousand eight hundred and forty-six, and the several supplements thereto, so far as the same are applicable. 10. And be it enacted, That this act shall take effect immediately.

Approved March 17, 1870.