Page:United States Statutes at Large Volume 11.djvu/499

 THIRTY-FOURTH CONGRESS. Sess. I. Ch. 89. 1856. 459 nate; are hereby created a corporate body forever, under the name of “ Columbiafs Library for Young Men," and in that name to sue and be sued, in any court of competent jurisdiction. Sec. 2. And be it further enacted, That said corporation may receive Power to hold and possess property, real and personal, not exceeding in value one hun- P"°P°”i}'· dred thousand dollars, for a library, for the purpose aforesaid. If a lot and house shall be granted, or devised for said library, and the same shall be accepted by said corporation, no sale thereof shall be made without the consent of Congress. Sec. 3. And be it further enacted, That power is given to said corpo- Corporate ration to appoint needful officers, messengers, and laborers, and to com- P°‘*°"· pensate them; to pass such by-laws, rules, and regulations as may be necessary to carry into eifect this act; to alter, amend, or revoke them ; to limit the ages within which the young men of said District may be entitled to the benefit of this act; to diffuse knowledge among them in such ways as shall be best calculated to instruct them, to elevate their morals, and fit them for usefulness, and to receive assurances of permanent aid from the corporations of Washington and Georgetown, and either of them, to sustain said institution by annual or other aid. Sec. 4. And be it further enacted, That the corporations may elect a Presiding viiipresiding officer from one of their number. If this shall be omitted, the °°"‘ person holding the office first named shall preside, if present, and in succession, in case of absence in the order of the offices designated in the first section. Sec. 5. And be it further enacted, That the meeting to organize may Meetings, he held at such time and place within said District, as a. majority may designate, having given notice in writing three days to all the members. Semi-annual meetings to be held at the library room, on the first Mondays of January and July. All votes, resolutions, by-laws, regulations, Records, and other proceedings to be recorded, and subject to the inspection of each of the corporations of Washington and Georgetown, or committee of either. Sec. 6. And be vftfnrther enacted, That the property of said corpora- Property extion shall be exempted from all public assessments and taxes so long as °mP* *‘°m*¤X°S· the same shall remain dedicated to the purposes of a. library. S20. 7. And be it further enacted, That each person designated as Termpf ciiice provided by the mayor of Washington or Georgetown, may hold his ?£:§,g‘;§;"°S of appointment two years, and until his successor shall be appointed. ` Sec. 8. And be it further enacted, That it shall be lawful for Con- This act may gress at any time hereafter to amend or repeal this act. be eltemdt &°· Sec. 9. And be it further enacted, That nothing in this act shall be This actnct construed to authorize said corporation to make, issue, or put in circula- F° ”“*hi?”lZ° the tion, any bill, draft, check, promissory note, or change ticket, or any thing E5? ° °m°n` else promising or agreeing to pay money intended to circulate as money, or the tendency of which shall be to circulate as money or currency. And the violations of any one of the provisions of this section shall be a _Penalty for forfeiture of the charter herein granted, and a fine of fifty dollars against “°l“°‘°“· each one of the directors voting for the same. Sec. 10. And be it further enacted, That the debts and liabilities of Liabilities not the said corporation shall not at any time, exceed the amount of their j:,°§f:,°‘;tf)2£" capital, and that each stockholder shall be held liable, in his or her indi- iwfdm imiivid vidual capacity, for all the debts and liabilities of the corporation, how- ¤¤¤yf¢$1>¤¤Siever incurred or contracted, to be recovered by suit, as other debts and u°° liabilities, in any court, or before any tribunal having jurisdiction of the case. Approved, August 11, 1856.