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Administrative History
These bonds were issued under the provision of an act of the Legislature, dated May 14, 1845, and entitled "An act in relation to the construction of the New York and Erie Railroad." This act provides that the bonds issued for the construction of the railroad (the amount authorized being limited to $3,000,000)} shall be numbered and registered in the office of the Secretary of State, and shall thereupon become, and be, to all intents and purposes, mortgages to the People of this State??."
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