river at the head of the said falls, and shall preserve, throughout the whole section aforesaid, a breadth, at the surface of the water, of not less than sixty feet, and a depth, below the same, of not less than five feet, with a suitable breadth at bottom.
Secretary of the Treasury to vote for president, &c., of said company, according to the number of shares purchased for the United States.Sec. 2. And be it further enacted, That the said Secretary of the Treasury shall vote for the president and directors of the said company, according to such number of shares as the United States may at any time hold in the stock, thereof, and shall receive, upon the said stock, the proportion of the tolls which shall, from time to time, be due to the United States for the shares aforesaid; and shall have and enjoy, in behalf of the United States, every other right of a stockholder in the said company.
Approved, May 24, 1828.
Statute Ⅰ.
Chap. LXXXVII.—An Act to enlarge the powers of the several corporations of the District of Columbia, and for other purposes.
Corporation of Washington, Georgetown, and Alexandria, to have severally, full power, &c., to subscribe, &c.Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the corporation of Washington, the corporation of Georgetown, and the corporation of Alexandria, within the District of Columbia, shall, severally, have full power and authority to subscribe and pay for shares of the stock of the Chesapeake and Ohio Canal Company; and all such subscriptions as shall have been already made by either of the said corporations, shall, and the same are hereby declared to be valid and binding on the said corporations, respectively.
Corporations, severally authorized to borrow money, at any rate of interest not exceeding six per cent. per annum.Sec. 2. And be it further enacted, That the said corporations shall, severally, have power and authority, from time to time, as the same may be deemed by them, respectively, either necessary or expedient, to borrow money, at any rate of interest, not exceeding six per centum per annum, to pay their respective subscriptions, and the interest accruing thereon, to the amount which they have subscribed, or shall hereafter subscribe.
Certificates of stock for the sums borrowed to be constituted.Sec. 3. And be it further enacted, That the said corporations shall be, and the same are hereby, respectively, empowered to cause to be constituted certificates of stock for the sums borrowed, in pursuance of the authority severally vested in them by this act; each of said certificates shall be of the form following, to wit:
Form.City or town of [here insert the title of the city or town.]
Mayor’s Office.
Be it known, That there is due from the corporation of the city of town of [here insert the title of the city or town of] unto [here insert the name of the creditor,] or ———— assigns, the sum of [here insert the amount in dollars] bearing interest at [here insert the rate of interest] per centum per annum, from the day of ——, eighteen hundred and ——, inclusively, payable quarter yearly; the principal sum above mentioned is to be paid on the ———— day of ————, in the year eighteen hundred and ——, which debt is recorded in this office and is transferable only by appearance in person, or by attorney, at this office. ——, In testimony whereof, I have hereunto subscribed my name, and caused the seal of the said city to be affixed.
—— ——, Mayor.
—— ——, Register, or other recording officer of the corporation.
A list of such certificates denoting their respective numbers, &c., to be deposited with the Secretary of the Treasury.A list of all such certificates, denoting their respective numbers, dates, and sums, and the persons to whom the same shall have been issued, authenticated by the mayor, subscribing the same, shall be deposited by said officer at the time of subscribing the same, or within ten days thereafter, with the Secretary of the Treasury of the United States.
The said certificate shall not be issued, in any case, for a less sum