AN ACT TO ALTER THE MAP OF THE CITY OF NEW YORK, BY LAYING OUT THEREON A PUBLIC PLACE, AND TO AUTHORIZE THE TAKING OF THE SAME. PASSED JULY 21, 1853, THREE-FIFTHS BEING PRESENT. The People of the State of New York, represented in Senate and Assembly, do enact as follows: § 1. All that piece or parcel of land situate, lying and being in the Twelfth, Nineteenth and Twenty-second Wards of the city of New York, bounded southerly by Fifty-ninth street, northerly by One hundred and sixth street, easterly by Fifth avenue, and westerly by the Eighth avenue, is hereby declared to be a Public Place, in like manner as if the same had been laid out by the commissioners appointed in and by the act of the Legislature, entitled An act relative to improvements touching the laying out of Streets and Roads in the city of New York, and for other purposes," passed April 3d, 1807; and the map or plan of said city is hereby altered accordingly. § 2. The Mayor, Aldermen and Commonalty of the city of New York are hereby authorized to take the said piece of land for public use as and for a public square, pursuant to the act entitled “An act to reduce several laws relating particularly to the city of New York into one act," passed April 9th, 1813," and the several acts amendatory thereto, or such portions thereof as are now in force, so far as the same are applicable to the laying out and taking of public squares and places in the city of New York, except as hereinafter provided; and all such portions of the said act and of the said several acts amendatory thereto, as are applicable to the laying out and taking of public squares and places in said city, and as are now in force, shall apply to the taking and laying out of the piece of land above described as and for a public square, in the same manner and to the same extent as if the said piece of land had been originally laid down as and for a public square upon the map or plan aforesaid, of said city, except as hereinafter provided. §3. Five persons shall be appointed Commissioners of Estimate and Assessment instead of three, and in case of the death, resignation, disqualification, or refusal to act of them, or either of them, it shall be lawful for the Supreme Court in the first judicial district, at a general term thereof, on the application of the said Mayor, Aldermen, and Commonalty, and officers, as such event shall happen, to appoint a discreet and disinterested person, being a citizen of the city of New York, in the place and stead of such Commissioner so dying, resigning, or refusing to act. § 4. In every case of the appointment of Commissioners under this act, it shall be competent and lawful for any three of said Commissioners so to be appointed, to perform the trust and duties of their appointment, and their acts shall be as valid and effectual as the acts of all the Commissioners, so to be appointed, if they had acted therein, would have been, and in every case the proceedings and decisions of such Commissioners, being three in number, as shall be acting in the premises, shall be as valid and effectual as if the said Commissioners appointed for such purpose had all concurred and joined therein. 5. The said Commissioners may allow compensation for any building or buildings upon the said land, which may have been built, placed, or erected thereon, after the time of the filing of the original maps or plan of the said city. § 6. Payment of the damages awarded by the said Commissioners, shall be made and become due, and payable immediately upon the confirmation of the report of said Commissioners in the premises. § 7. For the payment of so much of the damages awarded by the Commissioners of Estimate and Assessment, and the expenses, disbursements, and charges in the premises, as shall exceed the amounts or sums that may be assessed by the said Commissioners upon the parties and persons, lands and tenements, deemed by them benefited by the opening of such public square or place, it shall be lawful for the said Mayor, Aldermen and Commonalty, to raise the amount of such excess by loan, by the creation of a public fund or stock, to be called "the Central Park Fund," which shall bear an interest not exceeding five per centum per annum, and shall be redeemable within a period of time not exceeding forty-five years after the passage of this act, and for the payment of which the said piece of land so as aforesaid to be taken, shall be irrevocably pledged. § 8. It shall be lawful for the Mayor, Aldermen and Commonalty to determine what shall be the nominal amount or value of each share of said stock, and of what number of shares the same shall consist, and they are hereby authorized to sell and dispose of such shares at public auction, or at private sale, or by subscription for such stock, and on such terms as they shall think proper; said stock shall not be sold at less than its par value. § 9. In order to pay the interest upon the stock hereby authorized, the Mayor, Recorder and Aldermen of the city and county of New York as the Supervisors thereof, are hereby authorized and empowered to order and cause to be raised by tax on the estates, real and personal, subject to taxation according to law, within said city and county, and to be collected in addition to the ordinary taxes, yearly, and every year, until the whole amount of the tax be paid, a sum of money sufficient to pay the interest annually accruing on said stock. § 10. The provisions of the act entitled "An act to regulate the finances of the city of New York, passed June 8th, 1812," which are not repugnant to or incompatible with any provision in this act contained, shall apply to said stock. § 11. This act shall take effect immediately. STATE OF NEW YORK, Secretary's Office. I certify that I have compared the preceding with the original law on file in this office, and that the |