CHAPTER LVI. AN ACT Directory to the Revenue Officers of the State, and for other purposes. What kinds SECTION 1. Be it enacted by the General Assembly of the State of Tennessee, That notes of the Bank of Tennessee, issued prior to the 6th day of May, 1861, United States legal-tender currency, National Bank Notes, specie and warrants issued by the Comptroller in the hands of the of money reperson to whom issued, shall be received in discharge of ceivable. all taxes, and other moneys heretofore or hereafter due the State; Provided, That notes of the Bank of Tennessee, Proviso. issued prior to the 6th day of May, 1861, which have already been collected in good faith from the tax-payer, by any collecting officer, be receivable by the Comptroller and Treasurer, on settlement for such taxes due the State. SEC. 2. Be it further enacted, That the Fourth National Bank at Nashville, shall be the Designated Depository State Deposiat Nashville, and the People's Bank at Knoxville, and the tories. Union and Planters' Bank at Memphis, and the First National Bank at Chattanooga, shall be designated depositories of the State; and such banks, as depositorics, shall give bond according to law, for the safe keeping of the revenue of the State, deposited with each of them. That the banks designated as depositories of the public moneys belonging to the State, shall be required to receive from the Clerks and Tax-collectors, the notes of the Bank Bank of Tenn. of Tennessee, issued prior to the 6th day of May, 1861, notes. on special deposit; Provided, That said Clerk or Taxcollector shall first file with the cashier of the bank an oath, in duplicate, taken and subscribed before some per- Oath. son authorized by law to administer oaths in this State, and duly certified, that the identical kind and amount of the notes of the Bank of Tennessee, so offered for deposit, were received by him directly from the tax-payers, in the payment of taxes or other moneys due the State. Said ath shall state the specific amount offered on special deposit. One of said oaths the cashier of the bank designated as a depository, shall forward immediately to the Comptroller of the Treasury, and shall file the other with the bank. The cashier aforesaid shall execute and deliver to the Clerk or Tax-collector, duplicate receipts for the amount of said notes of the Bank of Tennessee thus de Receipts. Receipts. Treasurer. False swearing in public moneys. posited; one of which receipts the Clerk or Tax-collector shall deliver or transmit to the Comptroller, to be filed by him, and shall retain the other; and thereupon the Comptroller shall issue his warrant to the State Treasurer, authorizing him to charge such depository with the amount and kind of public money so deposited; and the bank in which said money is deposited, shall, at least once a month, send by express, or other safe means, to the State Treasurer at Nashville, all the public money paid in on special deposit, as provided for in this Act; and the Treasurer, on receiving the money, shall receipt the bank for the same, and shall then place it as a special deposit in the bank designated as a public depository at Nashville, to the credit of the Treasurer of the State of Tennessee, and shall be drawn only by the check of the Treasurer, countersigned by the Comptroller. SEC. 3. Be it further enacted, That, if any Clerk or Collector shall swear falsely in making the oath or oaths required by this Act, it shall be perjury; and upon conviction thereof he shall be punished as now provided by law in cases of perjury; and it shall be the duty of the Judges of the courts in this State in which a grand jury is impaneled, to give this Act in charge to such grand jury. SEC. 4. Be it further enacted, That if any Clerk, Taxcollector, or Comptroller, or Treasurer, charged with collecting, receiving or paying out the revenues of the State, Speculating shall directly or indirectly engage in speculating in the said notes of the Bank of Tennessee, specie, United States legal tender notes, National Bank notes, or warrants issued by the Comptroller, collected or received by them or either of them as revenue of the State, or shall pledge, loan, hypothecate or otherwise convert or dispose of such revenue, or any part thereof, without authority of law, he or they so offending, shall be guilty of a felony; and upon conviction thereof, shall be punished by imprisonment in the penitentiary of this State, for a period of time not less than three nor more than ten years. SEC. 5. Be it further enacted, That all revenue due the State, except the notes of the Bank of Tennessee, received or hereafter received in payment of taxes, shall be How paid paid over by clerks or Tax-collectors as provided for by laws prior to the passage of this Act. over. Refusal of SEC. 6. Be it further enacted, That, should either of the present depositories, refuse to receive and take care of Depositories the notes of the Bank of Tennessee, as herein contemplated, then the Governor, Comptroller and Treasurer, shall select some other bank as a depository in that city, which will so receive said funds; and hereafter all State funds for that section of the State, shall be placed in such new depository, upon bond being given as required by law. SEC. 7. Be it further enacted, That the provisions of the second, third, fourth, fifth and sixth sections of this Act, shall apply to any tax or revenues hereafter assessed and due and collected. SEC. 8. Be it further enacted, That the Treasurer of this State, shall pay out to all persons on the warrant of Treasurer and the Comptroller said notes of the Bank of Tennessee, on Comptroller's condition that such persons are willing to receive them at duties, etc. par, in payment of debts from the State due them; Prorided, however, that one fourth of the amount of said notes of the Bank of Tennessee received annually into the Treasury, shall be canceled by the Treasurer in pres-Notes ence of the Governor and Comptroller, who shall keep a record of the number, denomination and amount of the notes so canceled; and the State of Tennessee shall be substituted to all the rights of the note holders as to the notes hereby canceled, as secure them by the 30th section of the Act passed February 6, 1860, entitled "An Act to regulate the business of banking in this State." SEC. 9. Be it further enacted, That all laws or parts of laws in conflict with this Act, are hereby repealed; and that this Act shall take effect from and after its passage. W. O'N. PERKINS, Speaker of the House of Representatives. canceled. Passed February 2, 1870. Speaker of the Senate. Repealed. Governor and Senate to ap Proviso. CHAPTERL VII. AN ACT to Regulate the Appointment of State Directors in Railroad SECTION 1. Be it enacted by the General Assembly of the State of Tennessee, That all laws and parts of laws authorizing the Governor of the State to appoint State Directors in railroad companies having received State aid, be and the same are hereby repealed. SEC. 2. Be it further enacted, That hereafter the Governor of the State, by and with the advice and consent of the Senate, shall appoint, on the part of the State, in and poit Directors for each railroad company that has received aid from the State in the construction of its road, a number of discreet men as Directors, who shall correspond in number with the amount of said aid, and shall bear the same proportion to such aid that the Directors of the company may bear to the interest of the stockholders; Provided, That the number of State Directors shall, in no case, exceed the number of Company Directors, nor in any instance be less than two; and, provided further, That said appointments shall be made so as to give each county as nearly as practicable along the line of such railroad an equal and just representation in such Board of Directors. The said Directors shall hold their offices for two years after confirmation and qualification; and the Directors so appointed when confirmed, shall immediately enter upon the discharge of their duties. That the Agent provided for in section second of An Act passed December 9, 1869, entitled An Act to accept, confirm, ratify and make obligatory the lease of the Nashville and Northwestern Railroad to the Nashville and Chattanooga Railroad Company, shall not be appointed until the Directors provided for in this Act shall be appointed and confirmed, and a majority of them present at such meeting of said Directors. Same. SEC. 3. Be it further enacted, That when any railroad When not to shall have liquidated its indebtedness to the State, the appoint. Governor shall not appoint Directors on the part of the State for said railroad; and the duties of said officers at the time such indebtedness is liquidated, shall cease. SEC. 4. Be it further enacted, That no person shall be eligible to serve as State Director on more than one road at the same time. SEC. 5. Be it further enacted, That it shall be the duty Duties of Diof said Directors to attend the meetings of their respect- rectors. ive Boards, and watch over and protect the interest of the State as far as practicable, in said railroads. SEC. 6. Be it further enacted, That it shall be the duty of the Governor to make such nominations immediately after the passage of this Act. SEC. 7. Be it further enacted, That the Governor shall Number to be not appoint exceeding two Directors for the State, for any appointed, railroad which has paid its interest upon bonds loaned to or indorsed for such road. SEC. 8. Be it further enacted, That this Act shall take effect from and after its passage. W. O'N. PERKINS, Speaker of the House of Representatives. Passed February 4, 1870. Speaker of the Senate. CHAPTER LVIII. AN ACT to Repeal the Salaries paid to the Officers of the Bank of SECTION 1. Be it enacted by the General Assembly of the State of Tennessee, That no salaries shall be paid to the President, Cashier, or other officers of the Bank of Tennessee, from and after the passage of this Act: Provided, Samuel Watson, as Trustee of the Bank of Tennessee, shall not be allowed for his services as such Trustee, by the Chancery Court at Nashville, an amount exceeding the sum of twenty-five hundred dollars; and, provided further, the amount shall be paid out of the assets of said bank, and shall not be a charge on the Treasury of the State: Provided, that nothing in this or any Act heretofore passed, shall be so construed as to authorize the said Provisos. |