of this act: Provided, however, That the said trustees shall be bound to make a call for at least one hundred thousand dollars per quarter for the first year after their appointment.

SEC. 12. Whenever, and as often as the said subscribers to the said loan shall make a payment of any portion of their subscriptions, in pursuance of a call of the said trustees, the said board of trustees by their president and secretary, under the seal of said board, shall execute a certificate to each of the said subscribers, for the amount paid by them on their respective subscriptions with one year's interest at the rate of six per cent. added to the principal, stipulating for the payment of the same within six years, with interest at the rate of six per cent. per annum, to be computed after one year from the date of said certificate, and to be paid semi-annually thereafter; the said principal and interest to be paid by the said trustees out of the first moneys to be realized by them from the Illinois and Michigan canal, its assets, revenues, toll and lands, granted to the said trustees by this act, which said certificate shall also be countersigned by the Governor, and the impress of the great seal of the State shall be affixed thereon by the secretary of State.

SEC. 13. The said board of trustees, when appointed, are hereby authorized to take possession of the said canal, lands, property and assets, granted to them by this act, and proceed to complete the same. They are hereby authorized to make such changes and alterations of the original plan of said canal as they may deem advisable, without reducing its present capacity or materially changing its present location, having due regard to economy, permanency of the work, and an adequate supply of water at all seasons. None of the lots, lands or water powers so granted to the said trustees, shall be sold until three months after the completion of the said canal: The said lots, lands and water powers shall then be offered for sale by the said trustees at public auction, in lots and legal sub-divisions once or oftener in each year for the four succeeding years; said sales to be made for cash or on credit in the manner prescribed in the act of the ninth of January, eighteen hundred and thirty-six. The said lands, lots and water power, before they are offered for sale as aforesaid, shall be appraised by three disinterested persons, to be appointed by the judge of the circuit in which said lands, lots and water power are situated, who shall take an oath faithfully and impartially to discharge the duty of appraisers. Said lands, lots and water power, when so appraised, shall not be sold for less than the appraisement. After the expiration of the said four years, the said trustees shall expose the residue of said lands, which may remain on hand, to sale at such times and in such manner as they may deem proper. The said board of trustees are authorized to convey lands and water powers sold by them as aforesaid, after the purchase for the same be fully paid, but not before; and the said lands and lots shall be exempt from taxation of every description by and under the authority of any law of this State, until after the same shall have been sold and conveyed by the said trustees as aforesaid: Provided, also, That in the construction of the said canal, no change shall be made in its location, so as to divert the water power from canal lands: Provided, That in all cases where improvements were made upon the said canal lands or lots, previous to the first day of February, eighteen hundred and fortythree, the owner of such improvements shall be entitled to purchase the said lands or lots on which said improvements are situated, at an appraisement to be made as aforesaid, without reference to said improvements.

SEC. 14. The said trustees shall proceed to the completion of the said canal, in a good, substantial and workmanlike manner, so that the same shall, if practicable, be ready for use and navigation within two years and six months from the time this act goes into operation. The said trustees shall keep a just, full and accurate account of all the costs and expenditures of completing and superintending the said canal, and of the rents, issues, revenues and profits received by them from the said canal, and from the property granted to them by this act, and of the amounts received by them under the said loan, and shall annually make a report to the Governor, in manner and form specified in the forty-third section of the said act of January ninth, eighteen hundred and thirty-six: Provided, That in case the subscribers, under the provisions of this act, shall fail or neglect to complete the said canal, within three years after this act goes into operation, then and in such case, the lands and property hereby granted to said trustees, shall revert to the State.

SEC. 15. The said board of trustees shall annually establish a tariff of tolls to be paid for transportation upon said canal, (but the legislature hereby reserves the right to increase the tolls with a view to an increase of revenue, but shall not reduce the same without the consent of the trustees ;) and are hereby fully authorized and empowered to collect the same; and from time to time, to make, ordain and establish such reasonable rules, by-laws and regulations in relation to the collection of tolls, the transportation upon the canal, the conduct of boats and rafts, and the general police of the said canal, as are usual, or may be found necessary, and to enforce the observance of the same; and that said canal, when completed, shall, in all future time be free for the transportation of the troops of the United States and their munitions of war, without the payment of any toll whatever.

SEC. 16. After the completion of the said canal as aforesaid, the said board of trustees shall make annual dividends of the moneys which shall come to their hands from the said canal, its assets, tolls, revenues and lands granted to the said trustees by this act, after payment of incidental expenses, among the holders of the bonds of this State, in the following order: First, the said board of trustees shall annually make a pro rata dividend on payment of said moneys, on the certificates given to the subscribers, to the loan authorized by this act, until said certificates and interest thereon are fully paid: Second, the said trustees shall then make annual dividends and payments of said money upon the interest due upon the bonds, and other evidences of indebtedness held by the subscribers to the said loan, a description whereof shall have been filed with the Governor, as provided in the ninth section of this act, until the interest thereon is fully paid: Third, the said trustees shall then make annual dividends and payments of said money upon the interest due to the non-subscribing holders of bonds, or other evidences of canal indebtedness: Fourth, after paying all interest due such non-subscribing bondholders, the said trustees shall make annual dividends, pro rata, upon the principal of the bonds and other evidences of canal indebtedness, held by the subscribers to said loan, as provided for by the ninth section of this act, until the same shall be liquidated; at which time the trust hereby created shall cease, and the canal shall revert to the State, with all the appurtenances thereunto belonging: Provided, That the certificates of canal indebtedness, not stipulating on their face for the payment of interest, shall, when registered by subscribers to said loan, as hereinbefore provided, bear an interest of six per centum per annum, from and after they shall be so registered: Provided, further, That no appraisal shall be made for any damages arising under

the provisions of any contract entered into in pursuance of an act for the construction of the Illinois and Michigan canal, unless the contractor or contractors interested therein, shall first signify his or their consent in writing, (which writing shall be deposited with the appraisers, to be filed in the auditor's office,) that such appraisal of damages shall be made without allowing any prospective damages, or any profits which said contractor or contractors might have made, had they finished their jobs; but such contractor or contractors shall be allowed the value of their machinery upon the canal at the time the work stopped, and back per centage and scaleage; which entire amount of damages so allowed, to all contractors, shall not exceed the sum of two hundred and thirty thousand dollars.

SEC. 17. The Governor is hereby authorized and empowered to appoint three discreet and skilful persons to go on to the jobs and lettings upon the canal, and appraise the actual damage which the respective contractors upon the said canal will sustain in being deprived of the same. Said appraisal shall be final and conclusive, unless appealed from. That if any person shall consider himself aggrieved by the decision of said appraisers, he may appeal from the same at any time within thirty days, to the circuit court of the county in which the job so appraised is situated. If the Governor shall be satisfied that the appraisal is fair and honest, he shall issue certificates of canal indebtedness, bearing interest at six per cent., to the persons in whose favor the appraisal shall be made, for the amount; the holders of which certificates shall be entitled to all the privileges conferred by this act upon the other holders of canal indebtedness; and the present contractors of the Illinois and Michigan canal shall have the right to take the contract for the jobs which they now hold, at the estimate of the engineer to be appointed by said trustees, under such regulations and provisions as the said trustees shall direct.

SEC. 18. This act shall go into effect, and the said canal property and assets shall vest in the said trustees, as hereinbefore granted, whenever, and as soon as the full amount of the said loan shall be subscribed for, and the trustees elected as hereinbefore provided; and when this act goes into effect, so much of the acts heretofore passed by the legislature of this State in relation to the Illinois and Michigan canal, and the canal lands and property, as conflicts with the provisions of this act are hereby repealed.

SEC. 19. Whenever the trust created by this act shall have been fully executed and performed by the said trustees, the said canal and the canal property that may then remain, shall revert to the State; and the State hereby reserves the right of paying off the bonds and certificates to be paid to the said trustees, and the incidental expenses paid by them, and the interest thereon; and the said trustees shall then resign the said canal, and the remaining canal property and assets to the State.

SEC. 20. This act shall be a public act, and shall be liberally construed in all courts of justice, and the State hereby solemnly pledges its faith to supply, by future legislation, all such defects as may be found necessary, to enable the said trustees to carry into full effect, the fair and obvious intent of this act.

SEC. 21. If, in consequence of any defect, omission, or objection to the foregoing act, the said bondholders or other persons shall neglect or refuse to subscribe for the said loan, in that case, the Governor is hereby authorized to negotiate, and enter into a contract with the said bondholders, or other persons, in pursuance of the general principles of this act: Provided, That he shall make no further pledge of the faith or credit of the State, for any advance of money, but shall be limited to ple lging the canal and canal property therefor: And, provided further, That in any

negotiations to be made under the provisions of this act, for the purpose of carrying them into effect, nothing shall be done which shall in anywise interfere with the rights now secured to the holders of canal bonds. The Governor is hereby vested with all such power as may be necessary to carry this act into operation, or to make or cause to be made, such negotiation.

SEC. 22. The said trustees shall employ a chief engineer of known and established character for experience and integrity, who shall be subject to the direction of the trustees, but shall be required to execute a bond to the Governor in the sum of ten thousand dollars, to be approved by him, for the faithful performance of all the duties of an engineer, and shall be subject to be removed by the Governor for any good reasons which he shall make known to the next General Assembly. The said engineer shall, in addition, be required to take an oath, that he will faithfully and impartially perform all the duties of his office, without respect to persons, and that he is neither interested, nor will be interested in any job, work or contract, let or to be let on the canal, or connected therewith; which oath shall be entered and subscribed on the bond of said engineer.

[AMENDED:-See Acts Nos. 39 and 40.]

APPROVED: February 21, 1943.

ACT, NUMBER XLIX.

AN ACT IN RELATION TO BURYING GROUNDS, CHURCH YARDS, AND LANDS USED BY LITERARY INSTITUTIONS.

SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That it shall be the duty of societies and corporations owning, using and appropriating lands, not exceeding ten acres, for burying grounds, church grounds, and grounds for the use of literary institutions, to cause to be certified to the county commissioners' court of the proper county, by some credible person under oath, a full description of the lands by metes and bounds, in whom the title is, and for what purpose and use the land is held; and if it shall appear to said court that such land is not subject to taxation according to the revenue laws of this State, then that part shall be certified by said court to the auditor of public accounts, and the land shall remain exempt from taxation so long as it continues to be used exclusively for the purposes aforesaid.

APPROVED: March 2, 1843.

ACT, NUMBER L.

AN ACT TO EXEMPT THE PROPERTY OF COLLEGES AND COMMON SCHOOLS FROM TAXATION FOR A LIMITED PERIOD.

SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That all colleges and seminaries of learning incorporated, or which may hereafter be incorporated, by any act or acts of the General Assembly of this State, be and the same are hereby exempted from taxation, for State, county, or other incorporation purposes, upon all college and seminary buildings, libraries, philosophical and chemical, or other scientific apparatus, and the lands on which such institutions are located, not exceeding one hundred and sixty acres: Provided, That the property thus exempted shall be devoted exclusively to the purposes of education.

SEC. 2. All laws of this State for the collection of revenue, or for other purposes, so far as they conflict with the provisions of this act, are hereby repealed. APPROVED: March 6, 1843.

ACT, NUMBER LI.

AN ACT TO AMEND "AN ACT IN RELATION TO RELIGIOUS SOCIETIES."

SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That hereafter, it may be lawful for any religious society in this State, to purchase, or receive by a donation, and hold any real estate, not exceeding forty acres, for the purpose of camp-meeting ground, and the lots necessary for the

same.

SEC. 2. The title to said real estate shall be held by trustees appointed by said society; and the same may become incorporated according to the provisions of "An act concerning religious societies," in force, March 1, 1835. This act to take effect from and after its passage.

APPROVED: March 2, 1839.