An act to amend an act entitled “an act to extend the Corporate powers of the Town of Peoria” approved Feb. 21. 1837

Sec.[Section] 1. Be it enacted by the people of the State of Illinois represented in the General Assembly. That in addition to the powers conferred upon the Board of Trustees of the Town of Peoria by the above recited act, the said Board is hereby authorised to negotiate a loan or loans upon the faith and credit of the Corporation, of any sum or sums of money not exceeding in the whole amount, fifty Thousand dollars at any interest not exceding seven per cent per annum, for a period of time not exceeding fifteen years, the interest and principal payable at such time and places as may be agreed on by the parties to the loans. And the said Board is hereby to pledge irrevocably all or any part of the Revenue of the Corporation and all or any part of its property of any discription whatsoever for the payment of the Interest upon said loan and the reimbursement of the principal as the same becomes due and payable. The said Board shall also be authorised to pledge all the profits and interest which may accrue from the use or application of the money borrowed for the aforsaid purpose of paying the Interest and reimbursing the money borrowed as aforsaid.

Sec. 2. It shall be deemed a good execution of the power to borrow on the part of the said Board, to cause to be constituted, certificates of Stock for the said loan to be called the “Peoria Loan,” to be signed by the President of the Board and countersigned by the Treasurer under the seal of the Corporation, and to cause the said certificates of Stock to be sold, provided that no Stock Shall be sold for less than its par value. And the said Board are authorised to take and use all proper means and measures for the transforming of the said Stock

Sec. 3. The money borrowed under the provisions of this act or

---

such part thereof as may be deemed proper, shall be vested in the Stock of the Peoria Bridge Company, so as to enable the company to Build the Bridge across the Illinois river at Peoria, and if the whole is not so vested, the remainder may be applied to such purposes of improvement within the Town as may be deemed best calculated to advance the interest of the Town. There is hereby allowed two years in addition to the time allowed by the charter of the Peoria Bridge company for the completion of the said Bridge.