Preamble

Names of corporators.

Corporate name and object.

Amount of capital stock.

Proviso.

CHAPTER CCCCXXII.

An Act to incorporate the Toler Land Company.

WHEREAS, Hugh A. Toler, William E. Booraem and Aaron Pennington Whitehead, are the owners of certain lands and premises in the county of Essex, in this state, and are desirous of improving and disposing of the same, and purchasing, improving and disposing of other adjacent real estate; therefore,

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Hugh A. Toler, William E. Booraem and Aaron Pennington Whitehead, and their associates and successors, shall be and they are hereby constituted a body politic and corporate, by the name of "The Toler Land Company," with power to purchase, hold and improve real estate in the county of Essex, in this state, not to exceed three hundred acres in extent, and to issue stock of the company for the purchase thereof, and to sell, convey, lease and mortgage the same or any part thereof, any deed, lease or mortgage, to be executed by the president and secretary, under the seal of the company, with power to have a corporate seal, and the same to alter at their pleasure, and with all the powers. rights and incidents of a corporation under the laws of the state of New Jersey.

2. And be it enacted, That the capital stock of said company shall be three hundred thousand dollars, which shall be divided into shares of one hundred dollars each, with power to said company to increase said capital stock to any sum not exceeding one million of dollars, the same to be paid in by the stockholders, at such time, and in such manner, and in such installments as the directors of said company may direct, and in such penalties for neglecting the payment of such installments as the said directors shall deem advisable, and such shares shall be deemed personal property, and be transferable in such manner as the company by their by-laws may appoint; provided, that at least thirty days' notice in writing shall be given to each of the stockholders of the time. when the shares are required to be paid in.

ers to receive

3. And be it enacted, That the above named persons, or a Commissionmajority of them, shall be commissioners to open books and subscriptions. receive subscriptions to the capital stock of said company, at such time or times, and place or places as they, or a majority of them may think proper, giving notice thereof at least two weeks, by publishing the same for two weeks, once a week in some newspaper published and circulating in the county of Essex, and as soon as five hundred shares are subscribed, and the sum of fifty thousand dollars shall have been paid in, or real estate of the value of fifty thousand dollars shall have been purchased by and conveyed to the company, a like publication as aforesaid, for the space of two weeks, once in each week, shall be given for the meeting of the stockholders to choose five directors, who shall hold their office for one year, and until others are elected.

delivered to

4. And be it enacted, That the said election shall be cer- Subscription tified by the said commissioners or a majority of them, who books to be shall thereupon deliver over to the directors elected as afore the directors. said the subscription books and moneys paid in at such time and place as shall be appointed by the commissioners or a majority of them, notice whereof shall be given to the said directors who shall thereupon be authorized to hold their first meeting and commence business.

5. And be it enacted, That all the affairs of the company General powshall be managed by five directors, to be chosen by the stock- ers. holders annually at such time and place, in such manner and upon such notice as the by-laws of said company shall direct, who shall serve for one year, and until others are chosen in their stead, and said directors shall annually elect a president from their body, and shall also elect and employ such other officers as they may deem necessary, and make all such by laws, rules and regulations as they may think proper for the regulation and government of said company, and the transaction of the business thereof.

May construct

reservoirs.

6. And be it enacted, That the said company shall be and they are hereby empowered to improve all their lands by aqueducts or laying out the same into lots, streets, squares and other divisions, draining, raising and grading the same; to construct on the lands of said company aqueducts or reservoirs for conveying pure and wholesome water, and to purchase and hold such personal estate as may be necessary to carry out the purposes of said association.

7. And be it enacted, That this act shall take effect immediately.

Approved March 17, 1870.

Trustees empowered to sell and convey real estate.

CHAPTER CCCCXXV.

An Act to authorize the Trustees of the Clinton Avenue Methodist Episcopal Church, of Newark, to sell and convey real estate.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the trustees of the Clinton Avenue Methodist Episcopal Church of Newark, in the county of Essex, or their successors in office, be and they are hereby authorized and empowered to sell and convey all or any part of the land and real estate, with the appurtenances now held in trust as the property, or for the use of the said Clinton Avenue Methodist Episcopal Church, by virtue of a deed made to the trustees of said church by Willit Stevenson and Ann his wife, bearing date the thirteenth day of July, anno domini eighteen hundred and fifty-seven, and recorded in book G ten, of deeds for Essex county, pages four hundred and four, and four hundred and five; and also a deed from Samuel T. Tate, bearing date the seventeenth day of August, anno domini eighteen hundred and fifty seven, and recorded in book II ten, pages one hundred and ninety-nine and two hundred, and for that purpose, to make, execute and deliver to the purchaser or purchasers a good and sufficient deed or deeds for the same, under the hands and seals of the said trustees, by which said purchaser or purchasers, their heirs and assigns, shall hold the same so conveyed to his or their own use free and clear, and absolutely discharged from all trusts whatever upon which the same has heretofore been held.

2. And be it enacted, That this act shall take effect imine

A Further Supplement to the act entitled "An Act to revise and amend the Charter of the City of Rahway," approved March twenty-third, eighteen hundred and sixty-five.

ers may pur

land in the

1. BE IT ENACTED by the Senate and General Assembly of Commissionthe State of New Jersey, That it shall be lawful for the com- chase and sell missioners appointed under the provisions of the seventy name of the fourth section of the act to which this is a further supple. city. ment, whenever in their judgment the interest of all parties. will be best promoted thereby, to purchase, and take conveyance in the name of the city, of the whole or any part of any lot of land which may be intersected by any street or avenue proposed to be opened or altered, or which may be bounded by any street or avenue proposed to be opened, altered or vacated, or any lot that may be cut off from frontage on any street, and under the authority and direction of the common council, may sell at public or private sale such portion of the lands and real estate so acquired as may not be necessary for the streets or avenues proposed to be opened, altered or vacated, and the mayor of the said city, when so directed by the common council, shall execute a good and sufficient deed to the purchaser thereof, and the net proceeds derived from such sales shall be applied to reduce the costs, damages and expenses to be assessed upon the parties benefited by said improvements respectively, and in cases where any street or avenue, or any part thereof is vacated. the said commissioners may award the whole or any part of the land vacated, to the owner of the adjoining lands on either side, and award such damages as they may deem just to the owner or owners divested of his or their rights to lands

Improvement assessments.

Office of commissioners may be de

clared vacant.

Proceedings

in certiorari.

Amendment.

thus vacated, and assess the benefits to the owner or owners of lands thus awarded to him or them.

2. And be it enacted, That when the common council ascertains and declares the costs and expenses, or the costs, damages and expenses of any improvement, the assessment therefor shall bear interest from the date of such declaration by the common council, and the interest and discount on money boirowed and expended to carry out such improvement, to the time of such declaration, shall be included in the cost of the work, and any such declaration heretofore made on the basis herein authorized shall be deemed lawful and valid.

3. And be it enacted, That whenever commissioners appointed to make an assessment of the damages, or of the costs, damages and expenses of any improvement in said city, shall neglect or refuse for the space of sixty days after their appointment, or after an assessment referred back to them to make their report to the common council, the said common council may declare the appointment of either or all of said commissioners vacant, and proceed to fill the va

cancies so created.

4. And be it enacted, That whenever, by the judgment of any court wherein any certiorari is or may be brought, any assessment made by commissioners or by the city surveyor, under the provisions of the act to which this a supplement, or any supplement thereto, is set aside or reversed for irregularity or informality in such assessment, it shall be lawful for the common council of said city to cause a new assessment to be made of so much of the amount of the original assessment as may be so set aside, or of the amount thereof still remaining unpaid; said assessment to be made and become a lien, and to be proceeded on in all respects in conformity with the law and the charter of said city.

66

5. And be it enacted, That the eighty-sixth section of the act to which this is a supplement, be amended by adding the following, to come in before the proviso at the end of the section, or the common council may reject said report by a resolution declaratory of the reasons therefor, and return the same with a copy of such resolution to the said commissioners who may have signed the same or the city surveyor, for correction, revision or reconsideration; and the like proceedings shall be had when the report is returned, as in the first instance;" and like proceedings may also be had

d