previous to the incurring of such indebtedness; and all bonds or obligations in excess of such amount given by such corporation shall be void. That nothing in this act contained shall be so construed as to affect the validity of any act of any territorial legislature heretofore enacted, or of any obligations existing or contracted thereunder, nor to preclude the issuing of bonds already contracted for in pursuance of express provisions of law; nor to prevent any territorial legislature from legalizing the acts of any county, municipal corporation or subdivision of any territory as to any bonds heretofore issued or contracted to be issued.
Private Corporations and Associations.
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Section. 113. Legislature shall not grant private charters or special privileges, etc. 114. Construction of preceding section. 115. Power of congress not abridged by act. 116. What acts of legislature are null and void. 117. Lands of railroad corporation not exempt from taxation, when 118. Neglect of railroad corporation to pay costs of surveying, etc. |
Section. 119. Right of government to enforce forfeiture of lands 120. Right of congress to amend or repeal act. 121. Limitation on right of religious corporations to hold real estate. 122. Religious corporations may hold real property through trustees. 123. Incorporation of insurance companies legalized. |
Section 5 of an act of congress approved July 30, 1886.
§ [113.] The legislative assemblies of the several territories shall not grant private charters or special privileges, but they may by general incorporation acts permit persons to associate themselves together as bodies corporate for mining, manufacturing, and other industrial pursuits, and for conducting the business of insurance, banks of discount and deposit (but not of issue) loan, trust, and guarantee associations, and for the construction or operation of railroads, wagon roads, irrigating ditches, and the colonization and improvement of lands in connection therewith, or for colleges, seminaries, churches, libraries, or any other benevolent, charitable, or scientific association.
Construction of preceding section.Act of congress approved June 8, 1878.
§ [114.] The words "the legislative assemblies of the several territories shall not grant private charters or special privileges," in section eighteen hundred and eighty-nine of the revised statutes of the United States, shall not be construed as prohibiting the legislative assemblies of the several territories of the United States from creating towns, cities, or other municipal corporations, and providing for the government of the same, and conferring upon them the corporate powers and privileges, necessary to their local administration, by either general or special acts; and that all general and special acts of such legislative assemblies heretofore passed creating and providing for the government of towns, cities or other municipal corporations, and conferring such rights, powers and privileges upon the same, as were necessary to their local administration, be, and the same are hereby, ratified and confirmed, and declared to be valid, any law to the contrary notwithstanding, subject, however, to amendment or repeal hereafter by such territorial assemblies. But nothing herein shall have the effect to create any private right, except that of holding and executing municipal offices, or to divest any such right, or to make valid or invalid any contract or obligation heretofore made by or on behalf of any such town, city, or other municipal corporation, or to authorize any such corporation to incur hereafter any debt or obligation other than such as shall be necessary to the administration of its internal affairs.
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