other officers as they may deem entitled to receive salaries, and require such bonds of any of such officers, with security, and with such conditions as they may prescribe; at which meeting each stock holder shall be entitled to one vote for each share of stock he, she or they may own in said company; the stockholders may vote in person or by written proxy. § 4. The said company may extend a railway over said bridge, with as many sets of tracks as may be deemed expedient; and shall have the right to fix reasonable rates of tolls for passing over said bridge; and to collect the same from all and every person or persons passing thereon, and upon all vehicles and animals passing thereon, or carried thereon, of every kind and description; and for this purpose toll-gates may be erected at each or either end of said bridge; and the rates of toll shall be posted up in conspicuous places where toll is demanded. 5. That should the capital stock of said company, Condemnation. as herein provided, prove insufficient for the purposes of this corporation, the board of directors shall have the right to increase the same to such an amount as will be required to fully carry out the purposes of this corporation. Individuals, companies and corpo rations created by the laws of this State, or any State of the United States, shall have the right to take stock in this corporation; and said corporation is authorized to make contracts with any railroad company in or out of this State relative to the building of the said bridge, and to make common cause with any railroad company in or out of this State; or to consolidate stock with any such railroad company, upon such terms as may be agreed upon; and the said company shall have the right to receive subscriptions to the capital stock of said company, in real and personal property, upon such terms as may be agreed upon, and to sell and convey all such property in as full and complete a manner as natural persons; and the said company shall have the right to issue bonds not ex ceeding one million of dollars, said bonds to be secured by mortgage upon the property of said company. Any real estate received or acquired by said company in payment of subscriptions not actually needed in the construction and operation of the bridge, shall be disposed of within five years after the date of receiving or acquiring the same, and work shall commence in good faith on said bridge within three years, and be completed within seven years after the approval of this act. § 6. That after the first election of a president and directors of said company, there shall be an annual election of a president and directors of said company, as herein provided, on the first Monday in May in each and every year thereafter, who shall hold their offices until their successors shall be elected and qualified; and should the stockholders fail to elect a president and directors at the time herein provided for, the majority of the stockholders shall have the right to elect such officers at any other time they may agree upon, by giving twenty days' notice in some one or more papers published in Owensboro and Rockport, Indiana. 7. This act shall take effect from and after its passage. Approved April 18, 1888. CHAPTER 1145. AN ACT to amend an act, entitled "An act to incorporate the Cleveland Orphan Institution," approved March 17, 1870. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the "Cleveland Orphan Institution," located at Versailles, Woodford county, State of Kentucky, for the purpose of feeding, clothing and educating poor female children of this State, be, and the 20-LOCAL LAWS, VOL. 3. same is hereby, authorized to loan the endowment fund or money of said institution on mortgage or other securities, at any rate of interest not to exceed eight per cent. per annum; and such rate of interest as to said institution shall be legal. § 2. This act shall take effect and be in force from and after its passage. Approved April 18, 1888. CHAPTER 1146. AN ACT authorizing the trustees of common school district No. 31, in Clay county, to levy a tax to pay off the indebtedness. WHEREAS, Hanibal Morgan was one of the trustees for common school district No. 31, in Clay county, for the year 1886, and the school-house having been condemned by the county superintendent, a vote of the district was taken for the purpose of levying a tax to repair the school-house, and when the amount had been judicially spent, the schoolhouse was only partly completed; whereupon Morgan, as one of the trustees, had the school-house completed at his individual expense, and when the time came again for voting a tax to pay back the amount spent by Morgan, the voters of said district refused to vote a tax for that purpose; therefore, Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the trustees of common school district No. 31, in Clay county, be, and they are hereby, empowered to levy a tax on said district sufficient to raise seventeen dollars and fifty cents; and they are further directed to pay that amount when collected to said Morgan. 2. This act shall take effect from its passage. Approved April 18, 1888. CHAPTER 1147. AN ACT to amend an act, entitled "An act to establish a system of graded public schools in the town of Greenup, Greenup county." Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the south-western boundary line of school district No. 4, in Greenup county, be, and is hereby, so changed as to include and embrace the houses and lands of Milton Hodge, D. J. McCoy and J. L. Worthington. § 2. This act shall take effect from its passage. Approved April 18, 1888. CHAPTER 1149. AN ACT to incorporate the Richmond Water-Works Company. Be it enacted by the General Assembly of the Commonwealth of Kentucky: porators and cor § 1. That J. Stone Walker, Geo. W. Evans, John Names of incorC. Chenault, F. H. Adair, Samuel H. Stone, M. C. porate powers. Heath, J. A. Sullivan, and their successors, are hereby made and declared a body-corporate, by the name of the Richmond Water-Works Company, with power and authority to contract and be contracted with, sue and be sued, by the corporate name; to have and use a common seal, and change it at pleasure; and to conduct and maintain within the city of Richmond, Kentucky, or within any distance convenient or suitable therefor, such reservoirs, pools, aqueducts, mains, pipes, wells, engines, and other machinery, apparatus, and other structures, as may be necessary or useful for the purpose of supplying the city of Richmond, Kentucky, and its inhabitants with water. § 2. The capital stock of said company shall be one Capital stock. hundred thousand dollars, divided into shares of one bonds. hundred dollars each. The capital stock of said company may be increased to not more than five hundred thousand dollars, by a majority vote of all the stock of the said company, to be cast at a meeting of the stockholders called for that purpose, of which meeting sixty days' notice in writing shall be given by the board of directors to each stockholder, designating the time, place and purpose of said meeting. The incorporators may open books for subscription to the capital stock of said company, at such times and places as they may deem proper, and close and reopen said books for subscriptions aforesaid as they may deem for the best interest of said company. When ten thousand dollars of said capital stock shall have been subscribed, the company may organize and commence business. Payment of subscriptions for said capital stock shall be made at such times and in such ways as the incorporators or board of directors of said company, when elected, may determine upon. § 3. Said company may issue mortgage bonds, having Issue of mortgage not more than twenty years to run, bearing not more than six per cent. interest per annum, payable semiannually, and may execute a mortgage or mortgages upon any lands, property, franchises, or water rents belonging to said company to secure said bonds and the interest thereon; but the amount of said mortgage bonds shall not exceed in their par aggregate the capital stock of the company. § 4. The private or individual property of the stockExemption of holders, including the original incorporators, shall not be liable for the debts or liabilities of said company. private property. § 5. The stock of said company shall be held to be Stock how held. personal property, and shall be transferable only upon the books of the corporation. Any person wishing to retire from said company may do so by the sale and transfer of his stock in the manner provided; but no stockholder shall have the right to demand or obtain a division of the corporate property. 86. The affairs of the company shall be controlled |