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only in the manner and proportion that other stockholders are represented; and the governor of the state is hereby authorized and empowered to appoint the directors herein provided to represent the interests of said counties, townships, cities and towns, in the boards of directors of such railways as shall receive bonds to be entitled to the benefits of this act.

157.

And the state auditor from the total value of all the property in the state, after the same shall have been equalized in accordance with the provisions of "An act to amend the revenue laws, and to establish a state board of equalization of assessments," approved March 8, 1867, shall deduct the amount of the said increased valuation of the taxable property above the valuation of the year 1868, in such counties, townships, incorporated cities and towns as may be entitled to the benefits of this act, and the taxes upon. which are herein directed to be credited to counties, townships, cities and towns, and upon the amount remaining, he shall cause to be collected such a per cent. as shall be sufficient to pay the appropriations and other demands upon the treasury due to the end of each fiscal year, and the same per cent. shall also be collected on the said increased valuation above the valuation of the year 1868, and applied as herein provided.

158. Upon the payment of any such registered bond or interest-coupons by the county, township, city or town issuing the same, and presentation thereof to the state auditor, he shall cause due entry thereof to be made in his office.

159. And if the principal and interest of the bonds registered under the provisions of this act shall

be fully paid and canceled at any time before the expiration of the full term of 10 years, during which the funds provided in § 1 of this act, are to be applied to the credit of such county, township, city or town, then the provisions of this act in respect thereto, shall cease and determine, and no further money derived from said taxes shall be so applied.

$160. The collector's bonds in counties, townships, cities and towns where collections shall be made under the provisions of this act, shall be increased 50 per centum, and collectors in counties not under township organization, shall pay into the state treasury a suf ficient amount of the taxes collected in such county to meet the interest to be annually paid on such registered bonds, on or before the 20th day of June in each year; and there shall be allowed and paid to county, township, city and town collectors, for collecting and paying over the taxes levied by virtue of this act, the following rates of commissions, to be ascertained and computed in the same manner that commissions for collecting and paying over the state taxes are ascertained and computed, and paid from the taxes so collected, to-wit: To township, city or town collectors, at the rate of two per centum on all sums collected, and to county collectors at the rate of one per cent. on all sums received by them from township, city and town collectors, which shall be in full for reciving the same and paying it into the state treasury, and for adjusting the accounts of and settling with the township, city and town collectors for their collections of said tax, and a commission of three per cent. on all sums by themselves collected and paid over into the state treasury.

§ 161. In 1871, the general assembly, at the solicitation of the auditor of public accounts, passed an act defining the foregoing, and virtually superseding the first section of that circuitous statute.1 This supplemental act became a law April 28, 1871, going into effect July 1 of the same year. It is as follows:

§ 162. Whenever the valuations of property, as shown by the assessment returns of two or more corporations, embrace the same surplus valuation, the auditor of public accounts, in determining the amount due by virtue of said act of 16th April, 1869, to the county, the township, the city or town, shall distribute the tax on such surplus valuation in equal proportions, between such corporations; that is to say, should the valuation of the county show a surplus of $3,000, the township a surplus of $3,000, the town or city a surplus of $3,000, each shall be entitled to the proportion of $1,000. Any excess of such surplus valuation, in either of said corporations, and not embraced in the surplus valuation of either of the other, shall be apportioned to such corporation; or if in either two of such corporations, and none in the third, such amount shall be equally divided betwen such two corporations.

§ 163. The tax on the property of railroads aided, appropriated in section 1 of said act of 16th April, 1869, shall be apportioned by the auditor, between counties, townships, cities and towns, in similar cases, in the same manner as the surplus tax is required to be apportioned by section 1 of this act: Provided, that the amount of surplus tax shall be deducted from the amount of state tax on the railroads aided,

1 See section 149.

in each corporation, so that no county, township, city or town, shall receive both the surplus and railroad tax; or when the amount of surplus tax exceeds the amount of state tax on railroads aided, in any corporation, then, in such case, no state tax on railroads aided, shall be placed to the credit of such county, township, city or town.

§ 164. The latest legislation on this subject dates from March 7, 1872, going into force July 1 of the It reads as follows:

same year.

8165. The treasurer of state, and all county treasurers in the state, at whose office any county, town or city bonds or coupons are made payable by law, which have been issued in aid of any railroad or other corporation or in payment of the stock of any such railroad or other corporation in this state, shall, at least once in each year, after this act shall be in force, if so requested by the proper authorities of any such county, town or city, account to and with any person designated by any such county, town or city, for any and all money that may have come to his or their hands for the payment of any bonds or coupons, so issued as aforesaid, and shall, upon such accounting, deliver up to such person so designated by any of the counties, towns or cities aforesaid, any and all bonds. or coupons that he or they may have fully paid off and discharged out of the money coming into their hands for such purpose, and to take a voucher for all such bonds or coupons so delivered.

§ 166. There shall be allowed and paid out to the county treasurers, and to the county, town and city collectors for collecting, receiving and paying out any and all taxes levied for the payment of any such

bonds or coupons or interest on the same, the amount of one-half per centum, as fees for such service, and no more for such amount so paid out: Provided, if any of the above officers are now or may be hereafter paid a salary for the performance of these duties, then they shall not be paid any other compensation whatsoever.

§ 167. All laws in conflict with this act are hereby repealed.

NOTE. The full text of this legislation is given without note or comment, on account of the danger of misstatement, and there has been no authoritative interpretations of the same.

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