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therein; and upon such dissolution, the directors for the time being, and the survivor or survivors of them, or such persons as the said stockholders shall appoint, shall be trustees for settling all the affairs of the company, collecting and disposing of its property and assets, paying its debts and dividing the surplus among the stockholders in proportion to their respective interests in the stock.

ferable.

6. And be it enacted, That the stock of said corporation Stock transshall be deemed personal estate and shall be transferable in such manner as the by-laws may prescribe.

7. And be it enacted, That this act shall take effect immediately.

Approved March 2, 1870.

CHAPTER CLII.

An Act relating to the Street Commissioners of Greenville,
Hudson County, New Jersey.

thorized to

alter maps.

1. BE IT ENACTED by the Senate and General Assembly of Street comthe State of New Jersey, That the street commissioners of missioners auGreenville are hereby authorized to take from the Hudson correct and county clerk's office and the township clerk's office of the township of Greenville, Hudson county, the maps filed in said offices by said commissioners, on the fourth day of October, eighteen hundred and sixty-nine, and to correct and alter the same as they may deem for the best interests of the township of Greenville, and thereafter to refile the same in said offices within twenty days.

powers as to

2. And be it enacted, That the said commissioners shall, Rights and in addition to the rights and powers conferred on them by streets and this act, have the same rights, powers and authority with avenues. reference to the streets and avenues laid down on said altered and corrected maps, and with reference to the improvement thereof, as they had, with reference to streets and avenues, shown on said maps now on file in said offices, and the im

provement thereof under any acts now in force respecting said commissioners or their rights, powers or duties; all the streets and avenues which shall be laid down on said corrected and refiled maps shall be open to public use, and any street or avenue heretofore existing and not laid down and shown on said corrected and refiled maps shall, from the date of said refiling, cease to be a public street or avenue; immediately upon the refiling of said maps, said commissioners may commence to improve the streets and avenues laid down thereon. May issue im- 3. And be it enacted, That the said commissioners shall have power to issue "improvement certificates" to tractors in payment for work and material done or furnished on any street or avenue, and to issue them at such times during the progress of the work and after it has been finished, for such amounts, payable at such periods and executed in such manner as they may deem best; said improvement certificates shall be paid out of the proceeds of the sale of the bonds mentioned in section four of this act.

provement certificates.

May borrow money and insue bonds.

May borrow money and

issue bonds

con

4. And be it enacted, That it shall be lawful for the street commissioners to borrow such sums of money as they may deem necessary, in anticipation of the collection of assessments for street improvements, the payment of said sums thus borrowed to be provided for by the issue of either registered or coupon bonds as said commissioners may from time to time direct, and in such amounts as may be required to meet the contracts and obligations of said commissioners falling due or to fall due thereafter, for any street improvements; that said bonds shall bear interest at the rate of seven per centum per annum, payable half-yearly, and the principal of said bonds shall be payable at such times as said commissioners may designate on the face thereof, and said bonds may be sold at public or private sale at such times as the commissioners may direct, at a rate not less than ninety-five per centum of their par value; the township committee of the township of Greenville shall have power and authority, and are hereby required to provide, by taxation, for the payment of said bonds and the interest thereon, as the same shall become due; the assessments for street improvemente shall be collected by the said commissioners and paid over to the township committee.

5. And be it enacted, That it shall be lawful for the street commissioners of Greenville to borrow a further sum of money, not more than ten thousand dollars, to be provided for by the

issue of either registered or coupon bonds, as said commissioners may from time to time direct; that said bonds shall pay interest at the rate of seven per centum per annum, payable half yearly, and the principal of said bonds shall be payable at such times as said commissioners may designate on the face thereof, and said bonds may be sold at public or private sale at such times as the commissioners may direct, at a rate not less than ninety-five per centum of their par value; the township committee of the township of Greenville shall have power and authority, and are hereby required to provide by taxation for the payment of said bonds and the interest thereon as the same shall become due, and the proceeds of the sale of said bonds shall be used to pay the four thousand dollars of bonds issued by the township committee of Greenville under section five of an act entitled "A Further Supplement to an act entitled "An Act to create the township of Greenville, approved March eighteenth, eighteen hundred and sixty-three,'" approved April second, eighteen hundred and sixty-nine, and the interest due on said bonds and the amount remaining shall be used to pay the general and incidental expenses of said commissioners incurred and to be incurred, and not embraced in any assessment made or to be made by them.

ments on real

provements

6. And be it enacted, That the assessments upon real How assessestate for street improvements may be paid in fifteen equal estate for yearly payments, each payment to be equal to one-fifteenth street imof the assessment with interest thereon, at the rate of nine shall be paid. per centum per annum, from the date the said assessment becomes a lien upon the real estate; but if any yearly payment with the interest thereon remains unpaid for thirty days, then the whole amount of the assessment unpaid with interest thereon at the rate of nine per centum per annum, shall, at the option of said street commissioners, become immediately due and payable; nothing, however, in this act contained shall be so construed as to prevent any person from, at any time, paying the entire amount of said assessment and accrued interest then unpaid.

7. And be it enacted, That all acts or parts of acts in- Repealer. consistent with this act, be, and the same are hereby repealed; and that this act shall be deemed a public act and take effect immediately.

Approved March 2, 1870.

Preamble.

Townships

lands free

CHAPTER CLIV.

An Act to vest lands absolutely in the townships of Chester and Cinnaminson, in the county of Burlington, and to enable said townships to convey and dispose of the same.

WHEREAS, Ephraim Haines, by deed of conveyance, bearing date the tenth day of February, anno domini seventeen hundred and seventy, conveyed to Joshua Roberts and Edmund Hollinshead, elders and overseers of the society or congregation of Friends belonging to Chester meeting, in the township of Chester, county of Burlington, State of New Jersey, and to their successors in office forever, for the purpose of a burial place for strangers and other Christian people that do not properly belong to the said society or congregation, all that certain lot of land situate on the northeastwardly side of the road leading from Moorestown to Westfield, near the village of Moorestown adjoining lands of John H. Stokes and lands late of Charles Collins, containing one rood of land; and whereas, said lot of land was afterwards conveyed by the officers of said society to the inhabitants of the township of Chester, county of Burlington, state of New Jersey, in their corporate name and capacity for the purpose aforesaid, by deed bearing date the second day of March, anno domini eighteen hundred and twenty-one; and, whereas, said burial ground has ceased to be used for the purpose aforesaid, and most of the bodies originally interred there have been removed to other places, and it is desirable that said property should be sold and disposed of; and, whereas, the said township of Chester has since been divided into two townships, to wit: the townships of Chester and Cinnaminson, which said townships claim to hold an equal interest in said lands; therefore,

1. BE IT ENACTED by the Senate and General Assembly of may convey the State of New Jersey, That the title to said lot of land from trusts. and premises be, and the same is hereby declared to be vested, in fee simple absolute, in the two several townships of Chester and Cinnaminson, share and share alike, free, clear and dis

charged of and from all and every of the trusts, limitations and conditions, subject to which the same has been heretofore held, and with full power to convey and dispose of the same in fee simple absolute to any person or persons whatever, by deed of conveyance, to be executed under the corporate seals of said two several townships, attested by the signatures of the several members of the township committees of said two townships.

2. And be it enacted, That this act shall take effect immediately.

Approved March 2, 1870.

CHAPTER CLVI.

Supplement to an act entitled "An Act for the relief of School Districts Numbers Twelve, Thirteen, Seventeen and Eighteen, in the township of Morris, in the county of Morris,” approved March sixteenth, eighteen hundred and fifty-four, and the several supplements thereto.

1. BE IT ENACTED by the Senate and General Assembly of Board of eduthe State of New Jersey, That the trustees of the Morris School cation. District shall constitute and be called "The Board of Education of Morristown," and the present trustees shall continue to be a body corporate and politie in fact and in name, by the name of the Board of Education of Morristown," and by that name they and their successors forever, shall and may have perpetual succession and shall be persons in law capable of sueing and being sued, pleading and being impleaded, answering and being answered unto, defending and being defended, in any court of law or equity, and that they and their successors may have a common seal and alter the same at their pleasure.

meetings.

2. And be it enacted, That the said board of education Officers and shall elect annually one of their number president, and shall have power to appoint a secretary and a treasurer, with such

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