RAPID TRANSIT ACT APPROVED BY THE CHAMBER OF COMMERCE OF THE STATE OF NEW-YORK. And Now Pending in the Legislature of the State. MARCH i6, 1894. NEW-YORK: PRESS OF THE CHAMBER OF COMMERCE. 1 894. Avery Arc hitectural and Fine Arts Library Gift of Seymour B. Durst Old York Library RAPID TRANSIT ACT APPROVED BY THE CHAMBER OF COMMERCE OF THt STATE OF NEW-YORK. And Now Pending in the Legislature of the State. MARCH 16, 1894 NEW-YORK : PRESS OF THE CHAMBER OF COMMERCE 1 8 9 4. Digitized by the Internet Archive in 2014 http://archive.org/details/rapidtransitactaOOnewy An Act to amend chapter four of the laws of eighteen hundred and ninety-one, entitled "An Act to provide for rapid transit railways in cities of over one million inhabitants. Tlie People of the State of New York represented in Senate and Assembly do enact as follows : Section 1. Section one of chapter four of the laws of eighteen hundred and ninety -one entitled 14 An Act to provide for rapid transit railways in cities of over one million inhabitants " is hereby amended so as to read as follows : § 1. In each city having over one million of inhabitants according to the last preceding national or State census, there shall be a board of Rapid Transit Railroad Commis- sioners in and for such city, which shall consist of the Mayor of such city, the Comptroller or other chief financial officer of such city, the president of the Chamber of Com- merce of the State of New York, by virtue of his office, and the following named persons to wit : Samuel D. Bab- cock, Seth Low, John Claflin and Alexander E. Orr. The members of said Board shall be styled Commissioners of Rapid Transit. Vacancies which may take place in the offices so held by the persons specifically named herein as such Commissioners shall be filled by a majority vote of the remaining members of said Board. The Board thus constituted shall have and exercise the specific authority and powers hereinafter conferred and also such other and necessary powers as may be requisite to the efficient per- formance of the duties imposed upon said Board by this act. Section 2. Section two of said Act is hereby amended so as to read as follows : 4 § 2. Each of the said Commissioners other than the Mayor and Comptroller or other chief financial officer of such city shall take and subscribe an oath faithfully to per form the duties of his office, which oath shall be filed in the office of the Clerk of any county within which there shall be a city of the class mentioned in the first section of this Act. Section 3. Section three of said Act is hereby amended so as to read as follows : § 3. Within twenty days after the filing of the oaths of said Commissioners so required to make and file the same the Commissioners of Rapid Transit in respect to each of such cities shall meet and organize as a Board. The Board when so organized, may frame and adopt by-laws not in- consistent with this act, and establish suitable rules and regulations for the proper exercise of the powers and duties hereby conferred and imposed, and may, from time to time, amend the same. Four members of the Board shall con- stitute a quorum for the transaction of business, but a less number may adjourn meetings. The said Board shall adopt a seal, and keep a record of its proceedings, which shall be a public record and be open to inspection at all reasonable times. Section 4. Section six of said Act is hereby amended so as to read as follows : § 6. When the consents of the local authorities and the property owners, or in lieu thereof, the authorization of the said Supreme Court upon the report of Commissioners, shall have been obtained, the Board of Rapid Transit Railroad Commissioners shall at once proceed to prepare detailed plans and specifications for the construction of such rapid transit railway or railways, including all devices and appurtenances deemed by it necessary to secure the greatest efficiency, public convenience and safety, including plans and specifications for suitable support, turnouts, switches, sidings, con- nections, landing places, buildings, platforms, stair- 5 ways, elevators, telegraph and signal devices, and other suitable appliances incidental and requisite to what the said board may approve as the best and most efficient sys- tem of rapid transit in view of the public needs and re- quirements, and the said board may in its discretion in- clude in said plans, provisions for subways or tunnels for sewer, gas or water pipes, electric wires and other conduct- ors proper to be placed under ground, wdienever necessary so to do, in order to permit of the proper construction of any railway herein provided for in accordance with the plans and specifications of the said board. Whenever the construction of any railway, depressed way, subway or tunnel under the provisions of this Act shall interfere with disturb or endanger any sewer, water pipe, gas pipe, or other duly authorized sub-surface structure, the work of construction at such points shall be conducted in the city of New York in accordance with the reasonable require- ments and under the supervision of the Commissioner of Public Works, and in other cities in accordance with the reasonable requirements and under the supervision of the officer or local authority having the care of, and the juris- diction or control over, such sub-surface structures so in- terfered with, disturbed or endangered. All expenses in- cidental to such supervision and to the work of recon- structing, readjusting and supporting any such sewer, water pipe, gas pipe, or other duly authorized sub-surface structure, shall be borne and paid by the compmny which shall have acquired the right, privilege and franchise to construct, maintain and operate such railway, pursuant to a sale of the same at public auction, as hereinafter pro- vided, if any such sale shall be made by said board. Section 5. Section seven of said act is hereby amended s.o as to read as follows : § 7. If after having secured the necessary consents and after having prepared such detailed plans and specifica- tions as are by this act provided for, said board shall not have determined that such railway or railways shall be constructed for and at the expense of such city as here- 6 after provided, said board shall Bell nt public auction in the city where said railway or railways nre to be built and for the account and benefit of said city the right, prh il<'L r e and franchise to construct, maintain and operate Bach rail way or railways. Notice of the time and place of such sale shall be published three times a week for at least six successive weeks in at least three daily newspapers pub- lished in said city. The board may prescribe all such terms and conditions of sale as it may deem to be for the interest of the public aud of the citv in which the railway or railways are to be constructed. The advertisement of sale shall contain only so much of the said terms, plans and specifications for the construction as tin- board may think proper, but such advertisement must state at what place the full terms, plans and specifications may be examined, and they shall be subject to examination under such reasonable rules and regulations as the board may pre- scribe, The terms of sale shall provide for the construc- tion of the railway or railways under the supervision of the board, and for the approval of an engineer or engin- eers to be appointed from time to time by the board, and the corporation or corporations to be organized for the purpose of constructing and operating such railway or railways as in this act provided shall pay such engineer or engineers such salary as may, from time to time, be fixed by the said Board of Rapid Transit Railroad Com- missioners. Such engineer or engineers shall hold their office at the pleasure of the said board. The terms of sale shall require the successful bidder to deposit with the comptroller or chief fiscal officer of the city, in cash or ap- proved securities, such amount as the board may deem sufficient to constitute a guarantee of full compliance with the terms of sale by the purchaser and by the cor- poration to be formed for the purpose of building and operating said railway as hereinafter provided. Said bids and all rights which may have been acquired thereunder shall become null and void and of no effect, at the option of said board, should there be a failure to organize a cor- poration to exercise such rights, privileges and franchises 7 as required by said terms of sale and this act, or for any violation of any of the requirements of said terms of sale which should be complied with before such corporation is organized, and thereupon any deposit which may have been made pursuant to such terms of sale shall be paid into the treasury of such city upon a certificate being made and tiled by said board with the public officer with whom such deposit shall have been made, that said bid and all rights which may have been acquired thereunder have be- come null and void and of no effect ; and said rights, privi- leges and franchises shall be again sold by said board, sub- ject to all the provisions of this act regulating such sales. The terms of sale shall require the construction of the road to be begun within a time to be specified in said terms of sale, and to be finished within a certain time thereafter to be specified therein and may prescribe the time within which portions of the same shall be begun and finished. The said terms of sale may reserve to the board the power to extend the times for the commencement and completion of the construction of said railway or of portions of the same if, in its discretion, the said board deem such exten- sion to be for the best interests of the city. In case the corporation formed for the purpose of constructing said railway shall fail to begin or finish the construction within the times for those purposes respectively limited, all rights privileges and franchises of such corporations to maintain and operate said railway shall be forfeited, and upon such forfeiture being adjudged by the Court in a suit brought for that purpose in the name of the people or by said board of Rapid Transit Railroad Commissioners, then the said Board shall have power to advertise and resell said rights, privileges and franchises and so much of the road as shall have been constructed by such corporation ; such suit shall have preference over all other cases in all Courts ; and the proceeds of such resale shall be applied first to the payment of the expenses of the resale, and then to the dis- charge of any liens which may have been created upon such property, and the balance shall be paid over to the said corporation. The terms of sale must provide for the 8 organization by the purchaser or purchasers of such rights, privileges and franchises of a corporation to exercise the same, and to construct, maintain and operate such rapid transit railway or railways, with the powers and subject to the duties and liabilities granted or imposed by this Act. The said terms of sale must also specify the amount of the capital Of any such corporation, and number of shares of capital stock which such corporation shall be authorized to issue, the percentage to be paid in cash by the subscribers on subscribing for such shares, the maximum amount of the bonded indebtedness which such corporation be author- ized to incur, and which maybe secured by mortgage upon its property and franchises, and the maximum rates of fares and freight w hich such corporation may charge and collect for the carriage of persons and property. Hie said Board may, if it considers that the public interest re- quires it to do so, reject all bids, and readvertise the said rights, privileges and franchises for sale, with the same or different terms of sale, as often as it may deem necessary in the interest of such city, and shall finally accept that bid which, under all circumstances, in its opinion, is most advantageous to the public and such city; and no bid shall be accepted without the concurrent vote of six mem- bers of the Board. The terms of sale on any such resale must contain all the provisions required by this Act to be inserted in the original terms of sale. Such sale may be adjourned from time to time ac the discretion of the board. All sales of such rights, privileges and franchises shall be made for a definite term of years, but the expira- tion of the term, if sold for a term of years, shall not impair any mortgage or other lien upon the property of such corporation or the rights of any creditor or creditors of such corporation ; provided, however, that nothing herein contained shall be so construed as to extend the term for which such rights, privileges and franchises are sold. Section 6. Section nine of said Act is hereby amended so as to read as follows : 9 § 9. The said Board may rent such offices and employ such engineers, attorneys, and other persons, from time to time, as it may, in its discretion, deem necessary to the proper performance by it of its duties as in this act prescribed. Section 7. Section ten of said Act is hereby amended so as to read as follows : § 10. The Board of Estimate and apportionment or other Board or public body on which is imposed the duty, and in which is vested the power, of making appropriations of public moneys for the purposes of the city government in any city in which it is proposed to construct such railway or railways shall, from time to time, on requisition duly made by the Board of Rapid Transit Railroad Commission- ers, appropriate such sum or sums of money as may be re- quisite and necessary to properly enable it to do and perform, or cause to be done and performed, the duties herein pre- scribed, and to provide for the compensation of such Com- missioners, and such appropriation shall be made forth- with upon presentation of a requisition from the Board of Rapid Transit Railroad Commissioners, which shall state the purposes for which such moneys are required by the said Board. In case the said Board of Estimate and Appor- tionment or such other board or public body fail to appro- priate such amount as the Board of Rapid Transit Rail- road Commissioners deem requisite and necessary, the said Board of Rapid Transit Railroad Commissioners may apply to the General Term of the Supreme Court, in the Depart- ment in which the railway is to be or has been constructed, on notice to the Board of Estimate and Apportionment, or such other Board or public body aforesaid, to determine what amount shall be appropriated for the purposes re- quired by this section, and the decision of said General Term shall be final and conclusive ; and no city shall be liable for any indebtedness incurred by the said Board of Rapid Transit Railroad Commissioners in excess of such appropriation or appropriations. It shall be the duty of the Auditor and Comptroller of 10 any such city, after such appropriations shall have been duly made, to audit and pay the proper expenditures and compensation of said Commissioners upon vouchers there- for, to be furnished by the said Commissioners, which pay- ments shall be made in like manner as payments are now made by the Auditor, Comptroller, or other public officers^ of claims against and demands upon such city ; and for the purpose of providing funds with which to pay the said sums, the Comptroller or other chief financial officer of said city is hereby nut horized and directed to issue and sell revenue bonds of such city in anticipation of receipt of taxes, and out of the proceeds of such bonds, to make the payments in this section required to be made. The amount necessary to pay the principal and interest of such bonds shall be included in the estimates of moneys necessary to be raised by taxation to carry on the business of said city, and shall be made a part of the tax levy for the year next following the year in which such appropriations are made. All expenses of the said Board of Rapid Transit Railroad Commissioners, including the compensation of said Com- missioners, so incurred and paid by any city as in this sec- tion provided, and for which any city shall be liable, shall be repaid, with interest, by the bidder or bidders at the public sale of the rights, privileges and franchises, as in this Act provided, in case said Board shall so sell the same, whose bid shall be accepted by the Board of Rapid Transit Railroad Commissioners, and the terms of such sale shall specify the time when such payment shall be made, as well as the amount thereof. The Commissioners, other than the Mayor and Comptroller or other chief financial officer of such city, shall be x>aid a reasonable compensation for the duties performed by them from time to time under the pro- visions of this act. The amount of such compensation shall be determined by the General Term of the Supreme Court in the department in which said city shall be located upon application by said Board after notice to the Mayor of such city. Section 9. Said Act is further amended by changing the numbers of Sections thirty-four, thirty-five, thirty-six and LI thirty-seven of said Act so that said sections shall be re- spectively designated as Sections sixty-four, sixty-five, sixty-six and sixty-seven, and also by inserting immediately after Section thirty-three, so that the same shall form a part of said Act, the following sections, to wit : § 34. Said Board of Rapid Transit Ruilroad Commis- sioners may at any time determine that any such railway or railways shall be constructed for and at the expense of such city, and upon the adoption of a resolution therefor it shall be the duty of said Board to consider the routes, plans and specifications, if any, previously laid out and adopted by them or their predecessors and for which the consents have been obtained referred to in Section five of this Act, and either to proceed with the construction of such railway or railways and provide for the operation of the same as hereinafter provided or to change and modify the said routes, plans or specifications in such particulars as to said Board may seem to be desirable or to adopt other or different routes, plans and specifications for such railway or railways, provided always that in all cases in which any such change or modification shall be of such a character as to require the consents thereto referred to in Section five of this Act, and in all cases where other or different routes and plans may have been so adopted the said Board shall proceed to secure the consents required to be ob- tained by section five of this Act as therein set forth. As soon as such consents where necessary shall have been obtained and the detailed plans and specifications have been prepared as provided in section six of this act, the said Board, for and in behalf of said city, shall enter into a contract with any person, firm or corporation, which, in the opinion of said Board shall be best qualified to fulfill and carry out said contract, for the construction of such road or roads, upon the routes and in accordance with the plans and specifications so adopted, for such sum or sums of money, to be raised and paid out of the treasury of said city, as hereinafter provided, and on such terms and con- ditions, not inconsistent with the aforesaid plans and speci- \:> tications, as said Board shall determine to be best for the public interests. And said Board may contract for the construction of the whole road or all the roads provided for by the aforesaid plans in a single contract, or may by sep- arate contracts executed from time to time provide for the construction of parts of said road or roads as the necessi- ties of said city and the increase of its population may in the judgment of said Board require. Such contract shall also provide that the person, linn or corporation so con- tracting to construct said road or loads shall, at his or its own cost and expense, equip, maintain and operate said road or roads for a term of years to be specified in said contract, nor less than thirty-five, nor more than fifty years, and upon such terms and conditions as to the rates of fare to be charged and the character of service to be furnished and otherwise as said Board shall deem to be best suited to the public interests, and subject to such public supervision and to such conditions, regulations and requirements as may be determined upon by said Board. Such contract shall further provide that the person, firm or corporation so contracting to construct, maintain and operate said road shall annually pay into the treasury of said city, as rental for the use of said road, a sum, to be specified in said con- tract, which shall not be less than the annual interest upon the bonds to be issued by said city for the construction of said road as hereinafter provided for, and a sum, in addition to said interest, not less than one per centum per annum upon the whole amount of said bonds. The aforesaid annual rental shall be paid at such times during each year, as said Board shall require, and shall be applied first to the payment of the interest on said bonds, as the same shall accrue and fall due, and the remainder of said rental not required for the payment of said interest shall be paid into the sinking fund, for the payment of the city debt, if there shall be such sinking fund in said city, or, if there be none such, then said bal- ance of said rental shall be securely invested, and with the annual accretions of interest thereon, shall constitute a 13 sinking fund for the payment and redemption at maturity of the bonds issued, as hereinafter provided. Said contract may also provide for a renewal or re- newals of the lease of said road upon the expiration of the original term and of any renewals of the same upon such terms and conditions as to said Board may seem just and proper, and may also contain provisions for the valu- ation of the whole or a part of the property of said contracting person, firm or corporation, employed in and about the equipment, maintenance and operation of said road, and for the purchase of the same by the city, at such valuation, or a percentage of the same, should said lease not be so renewed at any time. Said contract may provide for the construction of said road in sections, and in all cases shall specify when the construction of said road, or sections of the same, shall be commenced, and, in each case, the date of completion. It shall also state the date on which the operation of the road, or of any section thereof, shall commence. The person, firm or cor- poration so contracting for the construction, equip- ment, maintenance and operation of said road, shall give a bond to said city, in su ch amount as said Board of Rapid Transit Railroad Commissioners shall require, and with sureties to be approved by said Board, who shall justify in the aggregate in double the amount of said bond. Said bond shall be a continuing security, and shall pro- vide for the prompt payment by said contracting person, firm or corporation, of the amount of annual rental speci- fied in the aforesaid contract, and also for the faithful per- formance by said contracting person, firm or corporation, of all the conditions, covenants and requirements specified and provided for in said contract. The said contracting person, firm or corporation shall also simultaneously with the execution and delivery of said contract, deposit with the comptroller or other chief financial officer of such city the sum of one million dollars as further security for the faithful performance by such contracting person, firm or corporation of all the covenants, conditions and requirements specified and provided for in 14 said contract relating to the construction and equipment of said road and the city in and for which said road shall be constructed shall also have a first lien upon the rolling stock and other property of said contracting person, firm or corporation, constituting the equipment of said road and used or intended for use in the maintenance and operation of the same, as further security for the faithful perform- ance by such contracting person, linn or corporation of the covenants, conditions and agreements of said contract on his, their or its part to be fulfilled and performed, and in case of the breach of any such covenant, condition and agreement said lien shall be subject to foreclosure by action, at the suit of such city, in the same manner, as far as may be, as is then provided by Law in the case of foreclosure by action of mortgages on real estate. The said Board of Rapid Transit Railroad Commis- sioners may, however, from time to time, by a concurrent vote of all the members of said Board, relieve from such lien, any of the property to which the same may attach, upon receiving additional security which may be deemed by said board so voting to be the equivalent of that which it is proposed to release and otherwise upon such terms as to such Board so voting shall seem just. Upon the com- pletion of the construction and equipment of said road to the satisfaction of said Board and when the operation of the same shall have commenced pursuant to said contract it shall be the duty of the comptroller or other chief financial officer to pay to the said contracting person, firm or corporation said sum of one million dollars so to be deposited as above provided, and said contracting person, firm or corporation shall also be then entitled to be credited upon the rental which he, they, or it shall have contracted to pay to said city for the use of said road a sum which shall be equal to the interest on the sum of one million dollars for the time of such deposit at the rate of interest provided for in the bonds which shall have been issued and sold by the city to provide for the construction of said road. The said con- tract shall further provide that in case of default in pay- 15 ing the annual sum or rental therein provided for, or in case of the failure or neglect on the part of said contracting person, firm or corporation, faithfully to observe, keep and fulfill the conditions, obligations and requirements of said contract, the said city, by its Board of Rapid Transit Railroad Commissioners, may take possession of said road and the equipment thereof, and as the agent of said con- tracting person, firm or corporation, either maintain and operate said road, or enter into a contract with some other person, firm or corporation for the maintenance and opera- tion thereof, retaining out of the proceeds of such opera- tion, after the payment of the necessary expenses of operation and maintenance, the annual rental hereinbefore referred to, and paying over the balance, if any, to the person, firm or corporation with whom the first contract above mentioned was made, and if such proceeds of the operation of said road, after the payment of the necessary expenses of maintenance and operation, including the keeping in repair of the rolling stock and other equipment, shall in any year be less than the annual rental hereinbe- fore referred to and provided in the first contract, then and in that case, the said contracting person, firm or corpora- tion and his or its bondsmen, shall be and continue jointly and severally liable to the aforesaid city for the amount of such deficiency until the end of the full term for which the said first contract was originally made. No contract entered into under authority of this act shall be assigned without the written consent of the said Board of Rapid Transit Railroad Commissioners concurred in by all the members of said Board. § 35. The person, firm or corporation operating such road, shall be exempt from taxation in respect to his, their or its interest therein under said contract and in respect to the rolling stock and other equipment of said road, but this exemption shall not extend to any real property which may be owned and employed by said person, firm or corporation in connection with the construction or opera- tion of said road. 10 § 30. The said Board of Rapid Transit Railroad Commis- sioners before awarding any contract or contracts shall advertise for proposals for such contracts by a notice to be printed twice a week for three successive weeks in not less than four of the daily newspapers published in said city, and in such newspapers published B.lsewhere than in said city as said board shall determine. Such notice shall set forth and state the points within said city, between which said road or roads is or aie to run, the general method of construction, the route or routes to be followed, the term of years for which it is proposed to make such contract, and such other details and specifications as said board shall deem to. be proper. Said notice shall state the time and place at which said proposals will be opened and the said board shall attend at the time and place so specified, and shall publicly open all proposals that shall have been re- ceived, but the said board shall not be bound to accept any proposals so received, but may reject all such proposals and re-advertise for proposals in the manner hereinbefore provided, or may accept any of such proposals as will, in the judgment of such board, best promote the public in- terest, and award a contract accordingly. All contracts made under authority of this act must, before execution, be approved as to form by the counsel to the corporation or other chief legal adviser to said city. § 37. For the purpose of providing the necessary means for such construction at the public expense of any such road or roads, the Board of Estimate and Apportionment, or other local authority in said city, in which such road or roads are to be constructed, having power to make appro- priations of moneys to be raised by taxation therein, from time to time, and as the same shall be necessary, and upon the requisition of said Board of Rapid Transit Railroad Commissioners shall direct the Comptroller or other chief financial officer of said city, and it shall there- upon become his duty to issue the bonds of said city at such a rate of interest, not exceeding three and one-half per centum per annum, as said Board of Estimate and Apportionment or other local authority 17 directing the issue of such bonds may prescribe. Said bonds shall provide for the payment of the principal and interest in gold coin of the United States of America. They shall not be sold for less than the par value thereof and the pro- ceeds of the same shall be paid out and expended for the purposes for which the same are issued, upon vouchers certified by said Board of Rapid Transit Railroad Commis- sioners. Said bonds shall be free from all taxation for city and county purposes and shall be payable at maturity out of the sinking fund for the payment of the city debt, if there be such a sinking fund of said city ; but if there be no such sinking fund, then out of a sinking fund to be established and created out of the annual rentals of said road as here- inbefore provided. The amount of bonds authorized to be issued and sold by this section shall not exceed fifty mill- ions of: dollars, par value, without the consent of the legislature first had and obtained. § 38. The Board of Rapid Transit Railroad Commis- sioners, for and on behalf of the said city in which such road or roads may be constructed, may from time to time with the concurrence of all the members of said board and the consent in writing of the bondsmen or sureties of the person, firm or corporation which has contracted to con- struct, equip, maintain and operate said road or roads, or any of them, agree with said contracting person, firm or corporation upon changes in and modifications of said con- tract, or of the plans and specifications upon which said road or roads is or are to be constructed, but no change or modifications in the plans and specifications consented to and authorized pursuant to section five of this act shall be made without the further consent and authorization pro- vided for in said section ; but in no event shall the annual rental to be paid to said city, for the use of said road, be reduced below the minimum rate hereinbefore provided. § 39. For the purpose of constructing any such road the said board for and in behalf of said city may acquire, as in this act provided, any real estate, and any rights, terms, and interest therein, and any and all rights, privileges, 18 franchises, and easements which in the opinion of the board it shall be necessary to acquire or extinguish for the purpose of constructing and operating such road. § 40. It shall and may be lawful for said board, and for all persons acting under its authority, to enter in the day- time into and upon any and all lands and property which it shall erson or by such counsel as he shall designate for the purpose, appear for and protect the interests of the city in all such pro- ceedings in Court and before the commissioners. The fees of the commissioners and the salaries and compensation of their employees, and all other necessary expenses in and about the said proceedings provided for by this act, and such allowance for counsel fees as may be made by order of the Court, and all reasonable expenses incurred by said Counsel to the Corporation, or otner principal legal adviser or said counsel designated by him for the proper presenta- tion and defense of the interests of said city before said commissioners and in Court, shall be paid by the Comp- troller or other chief financial officer of said city out of the funds referred to in the last preceeding section. But such fees and expenses shall not be paid until they have been taxed before a justice of the Supreme Court in the judicial district in which said city is situated upon five days' notice to the Counsel to the Corporation, or other chief legal ad- viser, of said city. Such allowance shall in no case exceed the limits prescribed by section 3253 of the Code of Civil Procedure. 30 § 83. The road or roads so constructed shall be and re- main the absolute property of the city so constructing it or them, and shall be and be deemed to be a part of the public streets and highways of said city, to be used and enjoyed by the public upon the payment of such fares and tolls, and subject to such reasonable rules and regulations as may be imposed and provided for by the Board of Rapid Transit Railroad Commissioners in said city. Section 10. Wherever it is expressly provided in the act hereby amended that any act of the Board of Rapid Transit Railroad Commissioners shall be done by the concurrent vote of four of the members of said Board, the act hereby amended is further amended so as to pro- vide in such cases that such vote shall be that of six of such members. Section 11. The Commissioners of Rapid Transit here- tofore appointed under the act hereby amended, or who became such Commissioners by its terms, upon the organ- ization of the Board which shall succeed them pursuant to said act as hereby amended, shall cease to be such Commissioners, and shall transfer and deliver to the Board of Rapid Transit Railroad Commissioners, provided for by the act hereby amended, as so amended, all furni- ture, books, maps, records, plans and other papers and property of what kind soever appertaining or belonging to or in the custody of the Board of which they were Com- missioners, or in their possession, or under their control as such Commissioners, or held by them, or for which they are responsible in their official capacity. The expenses incurred by said Commissioners for which an appropriation or appropriations shall have been made pursuant to section ten of the act hereby amended, shall be paid upon vouchers to be furnished by said Commis- sioners and otherwise, as provided in said section. Said Commissioners shall also be entitled to receive a reasonable compensation for the services which have been rendered by them, which may have been, or which shall be, deter- mined on their application in the manner provided for in 31 said section. The Comptroller, or other chief financial officer of said city, is hereb} 7 " authorized and directed to issue and sell revenue bonds of such city in anticipation of the receipt of taxes, and out of the proceeds of such bonds to pay said compensation so ascertained and deter- mined, and the amount necessary to pay the principal and interest of said bonds shall be included in the tax levy of said city for the year next following the issue and sale of the same. Section 12. This act shall take effect immediately. m