dollars reserved to the State by the first Section of an act entitled “An act to incorporate the Subscibers to the Bank of the State of Illinois;” the whole to be subscribed for by the State, as herein after directed

The Capital Stock of the Bank of Illinois at Shawaneetown, Shall be and the same is hereby increased in the Sum of One Million Four hundred thousand dollars; to be Subscribed for as herein

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after directed: Provided, the consent of said (last mentioned) Banks shall have been thereunto first

given by an entry on their books, under the direction of the board of directors, which shall be certified under the seal of the corporations to the board of Fund commissioners to be elected under the provisions of an act entitled “An act to establish and maintain a General System of Internal improvements” and to the Secretary of State the same to be by him filed in his office.

Sec 2. Said board of Fund Commissioners be and they are hereby authorised and empowered to negotiate a loan on the credit and faith of this State as, and for the exclusive, and sole purposes, herein after provided, for a Sum or Sums, not exceeding three Millions of Dollars, as the Same may be needed and wanted for the purposes herein after Set forth: which Shall be required to be paid, at Such times and in Such installments as the Same may be needed to carry into effect the object of this act.

Sec. 3. Said board of Fund Commissioners shall constitute certificates of stock for the said loan or loans, to be called the “Illinois Bank and Internal Improvement Stock” (signed by the Auditor and countersigned by the Treasurer), bearing an interest not exceeding six per Centum per annum, payable semmiannually, at either of the Banks herein after named or either of their Branches, or at some Bank in the City of New York, Philadelphia, Boston or Baltimore, or either, as may be agreed upon, and reimburseable at the pleasure of the State, at any time after the year one thousand eight hundred and sixty: And the faith of the State is hereby irrevocably Pledged for the payment and redemption of the Stock hereby created, and the interest accruing thereon. Said Board of Fund Commissioners, shall take and use all proper means and measures for the transfering of said stock.

Sec. 4. It shall be deemed a good and valid execution of the power to borrow herein confered for the said Fund commissioners to cause the said certificates of Stock, when created, to be sold: Provided That the Said Stock, shall not in any case be sold for less than its par Value.

Sec 5 It shall be the duty of the Said board of Fund Commissioners to Subscribe, on behalf of the State, the two Millions of dollars Stock as provided in the first Section of this act to the State Bank of Illinois; and pay Such per centum, on every one hundred dollars so subscribed at the time of

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subscribing, as Shall have been paid by each stockholder, on each and every share owned by him: and thereafter pay such installments as may be due on each one hundred dollars, at the Same times in the Same proportion and under such requisitions, as now are, or hereafter may be required of and addopted in relation to the individual stockholders on each share respectively held by them. Provided nothing herein contained, shall authorise a forfeiture of any interest of the State in Said Bank in anywise whatever, to the Said Bank.

Sec. 6. Said board of Fund Commissioners shall, so soon, as notified by the Bank of Illinois at Shawneetown, of their acceptance, and consent to the provisions of this act, as provided for in the first Section of this act, subscribe, on behalf of the State, for one million of the stock authorised to be subscribed by the first section of this act, and Shall in all respects observe, and conform to the provisions of the fifth section of this act; which are hereby expressly made applicable to their proceedings under this Section; the Proviso inclusive the remaining four hundred thousand dollars, may be divided into shares, and subscribed for, governed and regulated in all respects, as provided for in the original and Supplemental acts incorporating and extending the charter of said Bank of Illinois at shawneetown.

Sec 7. For the purpose of carrying into effect the provisions of the last two sections, said board of Fund Commissioners may from time to time sell and dispose of the certificates of Stock, authorized to be issued by the Second and third Sections of this act, as the money may be needed from time to time,

with the nine elected by the Stockholders from the board of Directors for the transaction of the business of said Bank—And) who shall be citizens of this state, and whose rights, powers, and duties shall be in all respects the Same, as those of the Directors chosen by the stockholders.

qualification, shall be in all respects the Same as those of the Directors chosen by the Stockholders of said Bank, of Illinois at Shawneetown. There may be established by said Bank of Illinois at Shawneetown, three offices of discount and deposite— within this State, whenever the interest of the community or Bank require it for the purpose of discount, and deposite, and the transaction of Such other business, as may be Legally confided to them by the said Bank under the provisions of its charter, and this act; and to commit the man-

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agement of all the aforesaid offices of discount and deposite, under such regulations, as they shall from time to time think prudent to addopt, to such number of persons as they shall choose, one of which offices of discount, and deposite shall be permanently established ^27^ at Jacksonville, with such amount of capital as the mother Bank can safely supply under the provision of this act.

Sec. 10. The dividends and profits declared and accruing upon and from the stock, by the provisions of this act authorised to be subscribed on behalf of the State in Said Banks Shall first be applied to the payment of the interest upon the loan or loans authorised by the provisions of this act, as the Same becomes due, and the balance together with the premiums that Shall be realized by the Sales of certificate of Stock herein authorised to be made, shall constitute a fund for, and be applied to the payment of the interest, which may be or become due and owing upon the loans effected under the authority of an act entitled “An act to establish and maintain a General System of internal improvement” and shall be held inviolably and applied Solely for that purpose and none other. And the said board ^of^ Fund commissioners shall addopt such measures as may be most expedient and proper for the payment of the interests of the Said loans when due; and whatever balance of said dividends and profits as may remain from time to time, after the payment of the interest as aforesaid, may be deposited by said board of Fund commissioners in any bank or Banks of this State, at Such rates of interest

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as may be agreed upon, until the same may be wanted, Said Banks to facilate the transaction of the purposes contemplated in this Section, opening therefor a Separate account to the credit of Such deposites with said board of Fund commissioners.

Sec. 11. Said board of Fund Commissioners may deposite with the Said Banks, with reference to a fair distribution of the benefits of said deposites to the diferent Sections of the state. And the Funds borrowed under an act entitled “An act to establish and maintain a general System of internal improvements” and all other monies provided for the use of the fund created by the act the title of which is herein before last recited; not otherwise disposed of by law, until the same may be wanted, in progress of the works or for the objects contemplated by said act, The said Board of Fund Commissioners obtaining such rates of interest from Said Banks for the use of the same as may be agreed upon, and Said Deposites shall be Subject to the drafts and checks of Said board of Fund commissioners, whenever the same may be needed in the progress of said works or for the objects contemplated by said act; payable whenever they may direct. Said Banks Shall in all respects be and they are hereby constituted, made and appointed the fiscal agents of the state, in the collection[,] receipts[,] transfer[,] and disbursment of the internal improvement funds Subject to the laws now in force and hereafter to ^25^ be made: (and shall in all respects promote the objects and interest of the State, in carrying

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into effect the Said system of internal improvements, as far as may be in their power pursuant to a liberal and enlightened policy).

Sec. 12. Said Banks shall furnish the said board of Fund commissioners, quarterly with the statements of the amounts of capital stock, actually paid into their respective Vaults, Of all the debts due and owing by the said Banks; Of all the debts due and owing to the Said Banks; of all the monies remaining on deposite, public and private of all the notes of Said Banks outstanding and in circulation; the Specie on hand or account of the same; together with all other such matters and things as may pertain to, and are connected with the condition and solvency of said Banks

Sec. 13. All notes issued by said Banks, or their branches, or offices of discount and deposite, payable on their Law elswhere than in this state, shall be never the less payable at the Said Banks and branches or offices of discount and deposite which may have Issued the same, in the same manner and under the same responsibilities as now are or hereafter shall be the notes of said Banks and Branches or offices of discount & deposite issued by them and made payable at their counters

Sec. 14. So much of the 28^th Section of an act entitled “an act to incorporate the Subscribers to the Bank of the State Illinois” as provides for the appointment of two directors on the part of the State, to represent Her in the said Incorporation is hereby repealed, provided however that Said last men-

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tioned Bank, Shall have first signified her consent thereto in the manner prescribed in the first Section of this act for the Bank of Illinois at Shawneetown, and the provisions of the Proviso of said last mentioned section are hereby expressly made applicable to the proceedings of the state Bank of Illinois in the premises

Sec. 15. There shall be elected at the present Session of the General Assembly of this state by a Joint vote of both branches of the Legislature, and biennially thereafter two Bank inspectors, whose term of office shall be for two years, and until their Successors shall be elected; whose duty it shall be to visit and inspect and ascertain the condition and solvency of Said Banks and their Branches, or offices of Discount and Deposite biennially and report the result of their of examinations to the General assembly of this state at its next Session thereafter. For which purpose they are hereby authorised and impowered upon the acceptance of the Terms of this act by Said Banks, in the manner herein prescribed to institute Such examination or examinations as may or Shall be necessary. And in addition hereto said Banks and their branches, or offices of discount and deposite shall be at all times Subject to, and they are hereby required upon the acceptance of the terms of this act, to Submit their Books, papers, and accounts, to the examination of the Legislature of this State, by their committee or committees thereunto legally authorized The result of Said examination or examinations to be reported as soon as may be to the General Assembly or to the Governor of this State, If the

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General Assembly shall not be in Session, to be by him laid before the Same at its first meeting thereafter