Ordinances Passed by the Constitutional Convention, at Austin, Texas, June 1, 1868 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1870 edition. Excerpt: ...estate or other property at the pleasure and will of said Company. The legal residence of the aforesaid company, shall be at Galveston, in the State of Texas. SEC. 2. The capital stock of said company shall be fixed for the present. at five hundred thousand dollars, subject to be increased by a vote of stockholders to one million of dollars; which said capital shall be divided into shares of stock of one hundred dollars each, and shall be paid up as may be ordered by a Board of Directors for the use and purposes of said company.. ' SEO. 3. This company is hereby authorized and empowered to make a canal through the flats that lie south of the -present chan-K ncl and inner bar; into the main Bolivar channel, diverging from the present channel at a short distance east of the late obstructions placed between the point of Pelican Sand Spit and.the extreme end of Galveston Island; to pass eastwardly and thence southeast-warrdly, with such direction as to coalesce easily with the waters and current of the main channel from the outer bar, so as to giv--e at all times twelve feet water in said. canal, andmake such other improvements in the navigation and outlet of the port of Galveston as they may deem advisable; and when said canal is completed andready for use, the said company shall be authorized and empowered to levy and collect a tax or tariff of not more than twenty-five (25) cents a ton (tonnage) upon all vessels passing through said canal, both inward and outward, which tariff shall be levied in accordance with the tonnage registered in the Customhouse of Galveston. Provided, the present channel shall not be interrupted, leaving it open and free as at present. ' ' SEO. 4. There shall be at least five directors...