§ 3. The Pacific Railroad Company required |§ 8. All moneys drawn by the Commissionto deliver guaranteed bonds to Treasurer of the State; in lieu of bonds so delivered, a like amount of State bonds to be issued; faith and credit of State pledged; date of said bonds. 4. Duty of Treasurer when guaranteed 6. The Governor requested to appoint a 7. Provision for prompt payment of in terest on State bonds by the Com ers of State Interest Fund, not required during the year, to be invested; the interest on said investments to be added to principal; the Interest Fund to remain sacred and inviolable until the interest and principal of all State bonds are paid. 9. Railroad companies to file with Secre 10. The Commissioners of State Interest 12. This act shall not release any railroad Be it enacted by the General Assembly of the State of Missouri, as follows: § 1. That the further issue of bonds of the State, and guarantee of the bonds of the Pacific Railroad, or any other railroad by the State, under the provisions of the act to which this is a supplement, and the act entitled "An act to secure the completion of certain Railroads in this State, and for other purposes," approved December 10, 1855, be, and the same is hereby, suspended until the first day of March, 1859; Provided, however, That for the purpose of finishing up work now nearly completed, and to open the roads hereinafter named, the Governor may, upon receiving satisfactory proof of the amount necessary, issue bonds to said companies as follows: To the North Missouri Railroad Company, to complete said road to Mexico, in the county of Audrain, not exceeding in the aggregate, two hundred and fifty thousand dollars; also 750 bonds to which said company may be entitled upon the terms and conditions now provided by law for completing said road to the junction with the Hannibal and St. Joseph Road; Provided, That the bonds last mentioned shall be disposed of at not less than 90 cents on the dollar, and any violation of this provision shall not operate as a forfeiture of the charter of said company; to the St. Louis and Iron Mountain Railroad Company, to complete said road to Pilot Knob, an amount not exceeding in the aggregate, four hundred and seventy-six thousand dollars; to the Pacific Railroad, to complete said road to Round Hill, in the county of Cooper, an amount not exceeding, in the aggregate, the sum of four hundred thousand dollars; and to complete the SouthWest Branch of said road to or near Moseley's, the sum of two hundred thousand dollars, in State six per cent. bonds, having twenty years to run, payable in the city of New York, interest payable on the first of January and July in each year, in lieu of a like amount of seven per cent. guaranteed bonds of said company, as authorized by the act to which this is a supplement; And provided further, That whenever State bonds can be sold at or above 90 cents on the dollar, the Governor may make further issues of State bonds to the Pacific Railroad for the construction of the South-West Branch, to an amount not exceeding, in the aggregate, five hundred thousand dollars, which bonds shall be in lieu of that amount of guaranteed bonds heretofore authorized; and a like amount of seven per cent. mortgage bonds issued for the construction of the South-West Branch, shall be deposited with the State Treasurer by the Pacific Railroad, as security for the payment of the principal and interest of the bonds so issued; and the failure to pay interest on the same shall give the Governor the right to proceed against said road as now provided for in case of failure to pay on guaranteed bonds; Provided further, That the one per cent. of difference in interest between guaranteed bonds and bonds of the State, shall be paid by the Pacific Railroad Company into the State Interest Fund, as provided in the sixth section of this act; and all the bonds issued under the provisions of this act shall be deemed a part of the bonds heretofore authorized to be issued or guarunteed to the respective companies, and shall have, when issued, a first lien upon the several roads as now provided by law; and the bonds specified in this act to be sold at not more than ten per cent. discount, shall be sold for cash, and applied, in good faith, to the work yet to be done on said railroads. § 2. In addition to the duties now required by law to be porformed by the Board of Public Works, the said Board shall attend the monthly meetings of the Directors of all the railroad companies in this State that have received, or may hereafter receive State aid, witness the proceedings of said Board; and said Boards of Directors are hereby required to furnish the Board of Public Works a transcript from their journals, of the proceedings of each meeting; and said Board of Public Works shall have the power, in order to carry into full effect the laws now in force, and the provisions of this act, to examine the officers of said companies, and other persons, under oath, and to send for persons and papers; and any member of said Board of Public Works is hereby empowered to administer the necessary oaths in the discharge of their duties. § 3. The Pacific Railroad is hereby required to deliver to the Treasurer of the State all bonds heretofore guaranteed by the State for the construction of the South-West Branch, that are now held or controlled by said Pacific Railroad Company, and in lieu of the bonds so delivered up, there shall be issued and delivered to said company a like amount of State bonds, payable twenty years after date, with six per cent. interest, payable semi-annually, said interest and principal payable in the city of New York, and for the payment of which the faith and credit of the State is hereby pledged; said bonds may bear date July the first, 1857, or the first of January or July of the year in which they shall be issued. § 4. When any bonds heretofore guaranteed by the State shall be returned to the Treasurer, he shall indorse across the State's guarantee, the words "Exchanged for State bonds, and the State guarantee canceled," with the date of the same, which indorsement shall be signed by the Treasurer and attested by the Auditor; and all the bonds so returned shall be held by the Treasurer and Auditor as Commissioner of the State Interest Fund, for the State; and the said company shall pay to the Treasurer, semi-annually, one-half of one per cent., which shall form a part of the State Interest Fund, being the difference in interest between the guaranteed and State bonds; and in case of any failure of the Pacific Railroad Company to pay interest or principal of the State bonds authorized to be issued in lieu of the guaranteed bonds by the last preceding section, and the first section of this act, the Board of Public Works shall notify the Governor of such failure, who shall, on behalf of the State, proceed against said road in the same manner, and with the same effect as now provided by law in case of failure to pay the princpal or interest of guaranteed bonds. § 5. That in addition to the moneys heretofore set apart by law for the payment of interest on the bonds of the State, there shall be annually levied, assessed and collected, by the assessors and collectors of the revenue, a special tax of one-tenth of one per cent. on the hundred dollars on all property taxable by law, and on all licenses in this State, which shall, as collected, be paid over to the Commissioners of the State Interest Fund, and kept, managed, used and invested by said Commissioners in the same manner and for the same purpose, declared and directed in the law to which this is amendatory; Provided, That the tax authorized by this section shall not be levied until the year 1859. § 6. The Governor of the State of Missouri is hereby authorized and requested to appoint a Commissioner to ascertain and adjust with the Commissioner of the General Land Office the amount due the State of Missouri, heretofore unsettled, on account of the public lands in said State, under the act of Congress, approved March 6, 1820, for the admission of the State of Missouri into the Union, and as provided for in the act of Congress entitled "An act to settle certain accounts between the United States and the State of Mississippi, and other States," approved March 3, 1857, and to obtain and receive any sum or sums of money that may, on said settlement, be found due this State; which moneys, when received, shall be at once placed in the hands of the Commissioners of the State Interest Fund, and be added to and constitute a part of said fund, and be used and invested as provided in this act, and the act to which this is amendatory. § 7. In order to provide for the certain and prompt payment of the interest on any State bond or bonds guaranteed by the State, and which may fall due on the first days of January and July, 1858, and first day of January, 1859, or at any time thereafter, and remain unprovided for, thirty days before said interest shall become due by any railroad company to which the credit of the State has been loaned, the said Commissioners shall temporarily take from and use out of any funds in the Treasury, except the State School Fund, the Road and Canal Fund, and the Internal Improvement Fund, a sum or sums sufficient to pay said interest; and should there not be sufficient funds in the Treasury that could be used for that purpose, then the Governor of the State is hereby authorized to execute and deliver to the said Commissioners bonds of the State of Missouri, to be called "Revenue bonds," in sums of one thousand dollars each, payable either in St. Louis or New York, two years after the date when the aforesaid interest shall be due, and bearing interest at a rate not exceeding ten per cent. per annum; and said bonds shall have coupons for said interest attached, payable semiannually; and the Commissioners aforesaid shall sell said revenue bonds, and out of the proceeds pay the said interest, or they may hypothecate the said revenue bonds for a loan in anticipation of moneys due to, and to be received by the State Interest Fund, and thus provide for the payment of the said interest; and for the prompt payment of said revenue bonds, all moneys in the Treasury not otherwise appropriated are hereby pledged. § 8. The moneys drawn under any of the provisions of this act, or of the act of which this is amendatory, when not required to pay accruing interest during the year, shall be invested in the bonds of the State of Missouri, or in bonds of the United States, or such other States as the General Assembly of this State may designate, and the interest accruing from time to time on said bonds shall be invested in like manner, and added to the principal fund; and this act, and the whole fund created by this act and by the act to which this is amendatory, shall be and remain sacred and inviolable for the purposes therein mentioned, until the principal and interest of all the State bonds issued, or to be issued under existing laws, shall be fully paid and redeemed in good faith. § 9. Before any railroad company shall receive any of the bonds provided for in this act, or any benefit, or use this act for any purpose, such company shall, by duly authorized action of its Bcard of Directors, agree to accept the provisions of this act, and shall file a certified copy thereof in the office of the Secretary of State; a certified copy of which acceptance by the company, under the seal of State, shall be evidence of the acceptance of this act in all courts of this State. § 10. The Commissioners of the State Interest Fund shall select and appoint some bank in the city of New York, where the interest on all State bonds shall be paid. They may also provide for the registration and transfer of State bonds at such bank, and adopt such rules as they may deem necessary for such registration and transfer; and all bonds of the State issued at any time, and made payable to bearer on the face, may be registered, when desired by the holder thereof; and when so registered, they shall no longer pass by delivery, but the title to such bond or bonds shall only pass by transfer upon the books provided and kept at the transfer bank, under the rules prescribed by said Commissioners, which rules, when adopted, shall not be changed or amended, unless by act of the Legislature of this State. § 11. The General Assembly may at any time after the year 1862, repeal so much of this act as imposes a tax upon the taxable property and objects made taxable by law; Provided, That the General Assembly shall set apart, for the objects contemplated by this act, from the general revenue of the State, a sum equal to the amount realized by the provisions of this act for the year next preceding such repeal, or so much as shall be necessary to meet the objects contemplated by this act. § 12. The provisions of this act shall not be construed to release any railroad company to whom State credit has been heretofore issued, from any penalty or forfeiture to which, under former laws now existing, such company may be liable, upon failure of such company or companies to meet and fully pay any bond or interest thereon as provided in former laws now in force touching such failure; but if any such company make any default in payment of any interest on any State bonds loaned such company by former laws, such default shall be construed to give the next General Assembly of Missouri full power over the issue of all further bonds not then already issued. § 13. The provisions of this act shall not apply to the Platte County Railroad Company. § 14. Hereafter no contractor nor sub-contractor with any railroad company, nor any person interested, directly or indirectly, in any contract with any railroad company, shall be eligible to, or shall hold or exercise the office of Director in such railroad company. This act shall take effect and be in force from and after its passage. AN ACT to authorize the city of St. Louis to subscribe stock in the Pacific Railroad Company, and for other purposes. Be it enacted by the General Assembly of the State of Missouri, as follows: § 1. The city of Saint Louis is hereby authorized to subscribe stock not exceeding the sum of five hundred thousand dollars, to the Pacific Railroad Company, incorporated by the act of the General Assembly, March 12, 1819, and to issue the bonds of said city, not exceeding said maximum of stock, to pay for the same, and to levy a special tax on all taxable property in said city, to pay the interest on such bonds as may be issued under the authority of this act, anything in the charter of the city of St. Louis to the contrary notwithstanding. § 2. It shall be lawful for the Mayor and City Council of said city to cause the bonds of said city to be executed from time to time to an amount not exceeding in all five hundred thousand dollars, payable not more than twenty years after the date thereof, respectively, bearing interest at a rate not exceeding six per cent. per annum, payable semi-annually; and to deliver such bonds, with coupons attached, to said railroad company, in full payment for the stock to be subscribed by the city as aforesaid, at par. § 3. The railroad company aforesaid shall not sell, pledge, or in any manner dispose of said bonds, or any of them, for less than ninety-five cents on the dollar, upon penalty of absolutely releasing the said city from the |