FRANK BROWN, ESQUIRE, GOVERNOR,

for and on account of the amount of bonds or of the pro-
ceeds thereof, and of interest on the same, that may be used
in the construction of said railroad, and take from said
railroad company any security for such indemnity that may
be accepted by said mayor and common council of Man-
chester; provided, however, that no action whatever shall be
taken by said mayor and common council to carry out the pro-
visions of this act until the stockholders of the company incor-
porated or which may be incorporated under the laws of this
State for the purpose of constructing said railroad, shall have
subscribed and paid into the treasury of said company in good
faith, the sum of fifteen thousand dollars for said purpose.

937

SEC. 3. And be it further enacted, That for the purpose of
paying the interest on said bonds as it may become due, and to
provide a sinking fund for the redemption of said bonds at
maturity, the said mayor and common council of Manchester
shall levy on all the property of the town of Manchester, real
and personal, which is subject to taxation by said mayor and
common council, such tax as may be necessary to pay the
interest on said bonds from time to time as the same shall
become due, and to provide for an adequate sinking fund for
the redemption of said bonds at maturity.

To levy tax to
pay Interest
and prin-
cipal.

SEC. 4. And be it further enacted, That in levying the tax
hereby authorized, no property in the town of Manchester
shall be subject to said tax that is now exempted by law from
taxation in said town for State or municipal purposes, nor shall
the total amount of taxation in each year for municipal pur-
poses, including the tax hereby authorized, in said town of
Manchester, exceed the rate of one hundred cents on every one
hundred dollars of assessed value of all property liable to taxa-
tion by said mayor and common council of Manchester.

Exempted
property
not to be
levied on.

SEC. 5. And be it further enacted, That for the purpose of
levying the tax hereby authorized, the valuation of all property
subject to said tax shall be the same as the valuation of the
same property for the purpose of levying other taxes imposed
or to be imposed by the mayor and common council of
Manchester.

Valuation of
property.

SEC. 6. And be it further enacted, That at any municipal
election to be held in Manchester, at such time and place as
may be fixed by an ordinance of the mayor and common coun-
cil of Manchester, or at any special election that may be called
by the mayor and common council, there may be written or

Question to be
voted on.