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LOCAL AND PRIVATE ACTS

OF

THE STATE OF KENTUCKY,

PASSED AT THE REGULAR SESSION OF THE GEN-
ERAL ASSEMBLY, WHICH WAS BEGUN AND
HELD IN THE CITY OF FRANKFORT, ON
FRIDAY, THE THIRTIETH DAY OF
DECEMBER, EIGHTEEN HUN-
DRED AND EIGHTY-SEVEN.

S. B. BUCKNER, Governor.

JAS. W. BRYAN, Lieut.-Gov., Speaker of Senate.
BEN. JOHNSON, Speaker House of Representatives.
GEO. M. ADAMS, Secretary of State.
P. W. HARDIN, Attorney-General.

CHAPTER 1002.

AN ACT to incorporate the People's Lighting and Fuel Company.

Be it enacted by the General Assembly of the Commonwealth of Kentucky:

§ 1. That Wm. M. Duncan, J. E. Keller, M. Keller, Incorporators. John Ready and W. L. Bransford, their associates, successors and assigns, be, and they are hereby, incorporated and created a body-politic, by the name of the People's Lighting and Fuel Company, of Lex- Name ington; and shall by such name have perpetual succession, with power to sue and be sued, contract and be contracted with, including the right to purchase, 1-LOCAL LAWS, VOL. 3.

hold, sell and convey real estate; to have and use a common seal, and change and alter the same at pleasure, and generally do and perform all things necessary to be done and performed in the conduct of its business hereinafter set forth; to ordain and put in execution such by-laws, rules and regulations, for the government of its affairs as may be deemed expedient and proper; and the same may be amended or altered, at any regular or called meeting, by a majority of stock, after a motion to that end shall have been entered at any regular or called meeting held not less than thirty days previous: Provided, Such by-laws, rules and regulations, shall not be inconsistent with the Constitution and laws of this State or of the United States.

§ 2. The capital stock of the company shall be fixed Capital stock. by the corporation, but shall not exceed five hundred thousand dollars, and shall be divided into shares of not more than one hundred dollars each. The stock shall be transferable on the books of the company according to the by-laws; but the company shall hold a lien upon the shares of any stockholder who may be indebted to it, and such shares shall not be transferable without the consent of the president and directors first had, or until said debt shall have been paid or discharged.

Directors.

§ 3. The corporation shall be governed by a board of five directors, which number may be increased to nine. The directors shall be elected annually by the stockholders from their number, on the first Monday in January of each year, and shall hold their office until their successors are duly elected and qualified. The directors shall elect from their number a president and vice-president, and may elect a secretary and treasurer, who shall be stockholders in said company, and may appoint such other officers and agents as may be necessary for the proper conduct of the business and affairs of the company, and may fix their compensation; and may receive bond of any or all of

them for the faithful performance of their respective duties. The incorporators above named shall act as directors until a board shall be regularly elected and qualified.

4. Each one hundred dollars of stock in said company, whether in one or more shares, shall entitle the holder or holders thereof to one vote, in person or by written proxy, in all elections for officers and all meetings of said company for any purpose.

§ 5. Said corporation is hereby authorized to create Issue bonds. an indebtedness in such amount as the stockholders may order, and may issue its bonds therefor, secured by lien or mortgage upon its property rights or upon all thereof.

§ 6. The business of said company is limited to Business. manufacturing, furnishing and supplying the city of Lexington and its inhabitants, and persons and corporations located in or near said city, with coal, water, or other gas for lighting, heating or other purposes, and may charge therefor such price and compensation as may be agreed upon between said company and the individuals or corporations contracting with it. It may supply such gas to its stockholders alone, if it shall so desire, at cost, or at such price as may be decided upon by its board of directors, or may so furnish or supply the same to either or all.

§ 7. Said corporation is authorized, subject to the City authority. same regulations and restrictions imposed by the city authorities of Lexington upon other similar companies in said city, to lay its pipes, mains and conduits under the streets, alleys and highways of said city and adjacent thereto: Provided, It shall in no way permanently obstruct the use of the same to the public or any individual; and it is hereby required to place in repair any street or highway under which it may lay its lines of pipes or mains; but it may temporarily obstruct same in laying or repairing its pipes.

§ 8. Work under this act shall be commenced in

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