Rights of any corporation, powered to enter upon and take possession of said waters, streams, lands, materials or other property, and proceed with the work of constructing its said dams, canals, raceways and other erections and improvements. 113. SEC. 7. That nothing in this act shall be construed sons to an action to impair the rights of any corporation, person or persons person or not impaired. Companies shall acquire by &c. or to an action against such companies, their agents, workmen, servants or contractors, for any damage done to his, her or their lands, hereditaments and premises by the erection or construction of said dams, canals, raceways, reservoirs and improvements, where such corporation, person or persons have not been agreed with by such companies, or his, her or their damages paid and satisfied by such companies, under the provisions of this act. 114. SEC. 8. That such companies shall, before the appraisement, erection and construction of said dams, by agreement or by appraisement as herein before provided, purchase or acquire the dams, works and franchises of any existing company or individuals interfered with and affected by said new dams, and such existing works and franchises may be maintained and used by said existing companies and individuals until said new dams hereby authorized are erected and the works and franchises of said existing companies and individuals shall be acquired as herein provided, and after such acquisition such existing dams and works may be maintained and used by the companies herein authorized, in addition to their new dams, and works hereby authorized if they shall deem it desirable so to do. Supply of water between this and other states divided. 115. SEC. 9. That the supply of water for water power shall be equally or other uses or purposes, from the dams hereby authorized to be erected, shall be equally divided between this state and any other state, whenever the rivers or streams upon which the said dams are erected shall flow between or divide this state and such other state; provided, however, that this shall not be construed to prohibit the use of any additional quantity of water on either side of Proviso. said rivers or streams, whenever thereby the water is not reduced below the level required for the due supply of the connecting canals or raceways on the other side of the said rivers or streams; and further, that such companies may make and enforce such regulations as shall carry out the provisions of this section. P. L. 1878, p. 90. dispose of *116. SEC. 10. That every such company may make As amended. and issue bonds, with or without coupons attached, bear- May issue and ing interest not exceeding the legal rate of interest, to bonds. borrow money or to secure any indebtedness created by them, and sell, exchange or otherwise dispose of the same, upon such terms and conditions as they may deem advisable, and such bonds, and the interest thereon, may be secured by a mortgage or mortgages, given or executed to a trustee or trustees for the use of the bondholders, upon the corporate franchises, real or personal estate and all other property of such companies, or any part thereof; provided, they shall not issue bonds for a Proviso. greater sum than the amount of their capital stock paid in. (See Sec. 140.) and Companies may this any dams and connect dams works works on the streams. 117. SEC. 11. That all companies whose dams works shall be constructed under the provisions of act, and of the act to which this is a supplement, shall same rivers or have the right to connect their said dams and works with any dams and works on the same rivers or streams within this state, or between this and any other state, upon such terms as may be agreed upon by those who have the management of such dams and works, and in case of a failure of agreement on the part of those having the management of such dams and works within this state, then, and in that case, either of said parties may apply to one of the justices of the supreme court of this state, within the jurisdiction in which said connection is proposed to be made, whose duty it shall be to *NOTE.-The amendment changed seven per cent. interest to legal rate, and not to issue bonds for a greater sum than twice the amount of stock paid in, to a greater sum than the amount of stock paid in. May lease works to other corporations. Franchises, rights, works and structures railroad com pany not to be interfered with without consent. appoint three disinterested citizens as herein provided for the condemnation of land, who shall determine and fix said terms, and proceed in all respects the same as when condemning land, as provided in the fifth and sixth sections of this act, including the right of appeal by either party to the next circuit court in the county wherein the said dams and works may be. 118. SEC. 12. That it shall be lawful for any company incorporated under this act, and the act to which this is a supplement, at any time during the continuance of its charter, to lease its dams and works, or any part thereof, to any other corporation or corporations of this or any other state, or to unite and consolidate as well as merge its stock, property, franchises, dams and works with those. of any other company or companies, of this or any other state, or to do both; and such other company and companies are hereby authorized to take such lease, or to unite, consolidate as well as merge its stock, property, franchises, dams and works with said company, or to do both, and after such lease or consolidation the company or companies so acquiring said stock, property, franchises, dams and works may use and operate such dams and works and their own dams and works, or all or any of them, according to the provisions and restrictions contained in this act, notwithstanding any special privilege heretofore granted to another corporation. (See Sec. 100.) 119. SEC. 13. That nothing in this act contained shall of any canal or be construed to authorize any corporation organized under this act, or the act to which this is a supplement, to take, condemn, obstruct, endanger or in any wise interfere, directly or indirectly, with the franchises, rights, works and structures of any canal or railroad corporation, without the written consent of such corporation, nor to authorize the leasing, consolidating or otherwise uniting the dams and works hereby authorized with the works and franchises of any railroad company in this or any other state, and that this act shall take effect immediately. Supplement. Approved April 21, 1876. P. L. 1876, p. 237. rectors of plank to be residents 120. SEC. 1. That it shall not be necessary hereafter for a majority of dimore than a majority of the directors of any plank road road companies company heretofore or hereafter organized under the act of state. to which this is a supplement, or under any other act, or in pursuance of any special charter, to be residents of this state. Supplement. Approved April 21, 1876. P. L. 1876, p. 235. Charter may be term not ex years. 121. SEC. 1. That it shall be lawful for any corporation extended to a heretofore or hereafter created under or by virtue of any ceeding fifty law of this state, at any time before the expiration of its charter, or of the period named in its certificate of organization, to file in the office of the secretary of state a certificate under its common seal, attested by the signature of its presiding officer, declaring its desire that the period of its existence as such corporation shall be extended for any time therein mentioned, not exceeding fifty years. tary of state. 122. SEC. 2. That upon making and filing such certifi-filed with secrecate, the period of the existence of such corporation shall be extended as declared in such certificate as fully as if the said period had been named in the original charter or certificate of organization of such corporation. 123. SEC. 3. That nothing herein contained shall be How construed. construed to interfere with the right of the state of New Jersey reserved by any law now or hereafter existing to acquire the property and franchises of any such corporation, or at any time to abolish or repeal, alter or amend the charter of the same, nor shall this act be construed to continue any irrepealable or other contract with the P. L. 1882, p. 76. Corporations whose existence have been extended, how assessed. Provisions of act not to apply to companies. state contained in any charter beyond the time originally fixed for its expiration. A Supplement to an act entitled "A further supplement to an act entitled 'An act concerning corporations' [Revision], approved April 7, 1875, authorizing extension of corporate existence," which said supplement was approved April 21, 1876. Approved March 9, 1882. 124. SEC. 1. That nothing contained in the act to which this is a supplement shall be construed as continuing in force and operation any special provision relating to taxation, or exemption therefrom, in the charter of any corporation whose corporate existence may have been or hereafter shall be extended in conformity with the terms of said act; but each corporation whose corporate existence may have been or shall be extended as authorized thereby, shall be assessed for taxes in accordance with the provisions of the general law of this state relating to the taxation of corporations. 125. SEC. 2. That the provisions of the act. to which turnpikes or toll this is a supplement shall not apply to any turnpike or toll company created under and by virtue of any special law of this state. Repealer. 126. SEC. 3. That all acts or parts thereof, general or special, inconsistent herewith, are hereby repealed, and this act shall be a public act and go into effect immediately. Supplement. P. L. 1877, p. 19. As amended. P. L. 1878, p. 212. Residence of di Approved February 21, 1877. *127. SEC. 1. That it shall not be necessary for any of the directors of any water [or manufacturing] company rectors of water heretofore or which may be hereafter organized under the act to which this is a further supplement, or any other act, general or special, or in pursuance of any companies. *NOTE. The amendment added the words within brackets. |