§ 7. This act shall take effect and be in force from and after its passage. Approved March 25, 1882.. CHAPTER 583. AN ACT for the benefit of colored school district No. 10, Adair county. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the trustees of colored school district No. 10, Adair county, are authorized and empowered to use for school purposes a building located within one half mile of a schoolhouse erected for white children. § 2. This act shall take effect from and after its passage. Approved March 25, 1882. CHAPTER 584. A BILL to incorporate the Excelsior Electric light Heating and Motivepower Company. Be it enacted by the General Assembly of the Commonwealth of Kentucky: 1. That T. B. Wood, Jas. S. Lisle, Denis Mulligan, S. G. Incorporators. Sharp, James F: Robinson, jr., C. F. Simonds, and James A. Grinstead, and their associates and successors and assigns, shall be, and are hereby, created a body-politic and corporate, by the name of the Excelsior Electric-light Heating and Style. Motive-power Company, with power and in that name to contract and be contracted with, to sue and be sued, to plead and be impleaded, to answer and defend, in all courts and places whatsoever as a natural person; and to have and use a common seal, and to change and renew or alter the same at pleasure; and to ordain and put in execution such by-laws, rules and regulations, for the government of its affairs as it may deem expedient and proper; but the same may be altered or amended, at any regular or called meeting, by a majority vote of the paid-up stock, after a motion to that end shall have been entered, at any regular or called meeting held not. less than thirty days before: Provided, however, That such. by-laws, rules and regulations, shall not be inconsistent with. the Constitution and laws of this State or of the United! States. Capital stock. Bonds. Officers. Purposes. § 2. That the capital stock of said company shall be fixed by the corporation aforesaid, but shall not exceed one hundred and fifty thousand dollars, divided into shares of one hundred dollars each. When the sum of five thousand dollars is subscribed and paid up, said company shall have authority to organize and commence business. The shares of said stock shall be personal property, and 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, until such debt shall have been paid or discharged. Each share shall entitle the holder to one vote, in person or by written proxy, in all elections of officers, and at all meetings of said company for any purpose. 3. That said company shall have the right, through its directors, to take from its officers or agents bonds for the faithful discharge of duty, and for the safety and security of its funds and property. § 4. There shall be elected at each annual meeting of the stockholders a president, vice president, and treasurer and five directors; and this number of directors may, by a vote as herein above provided, be increased to nine, who shall hold their office for one year, and until their successors are elected, a majority of whom shall constitute a quorum for the transaction of business. Vacancies that may occur in the term of any director or other officer may be filled by the board. The annual election after the first one, which may take place at any time after organization, shall be held at the office of the company in the city of Lexington on the second Monday in January of each year. At all meetings of the directory they shall vote in person and not by proxy. § 5. That the business of said company is limited to furnishing and supplying the city of Lexington and its inhabitants and persons and corporations located near to said city with light and motive power generated by electricity, steam, or other artificial means, or to the furnishing and supplying either said light, power or heat, and may charge therefor such price and compensation as may be agreed upon between said company and the individuals or corporations contracting with it; and in aid of its object it may acquire and hold such real estate as may be necessary for the location of its works, and the carrying into effect the purposes of its organization; and the body hereby incorporated shall have the exclusive privilege of conducting the business above described within and adjacent to said city for the term of twenty-five years; but a non-user of the privileges of this act of incorporation for five years shall work a forfeiture. § 6. Said company, after having first obtained permission from the city council, and had entered upon the book of said council an order to that effect, shall have the privilege to lay its pipes and mains, to erect its poles, posts, and wires through and along any street or highway in the city aforesaid or adjacent thereto, as it may deem fit, provided it in no way permanently obstructs the use of the same to the public or to any individual; and it is hereby required to replace and put in repair any street or highway through which its line of pipe, wire, &c., may pass; but it is allowed to temporarily obstruct, for a reasonable time, in laying its line and repairing the same. 7. The private property of stockholders shall not be liable for debts of the corporation. 8 This act shall take effect from its passage. Approved March 25, 1882. CHAPTER 585. AN ACT to establish Marvin College, at or near the town of Clinton, Hick man county. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That ar institution of learning be, and the same is hereby, established at or near the town of Clinton, in the county of Hickman, Kentucky, to be known by the name and style of Marvin College, and to be under the exclusive control Style. of the Methodist Episcopal Church, South. § 2. That Rev. R. L. West, Rev. E H. Stewart, C. M. Incorporators. Vaughan, P. A. Dulin, C. T. Bowers, J. R. Graham, T. W. Askley, W. I. Rudd, J. E. Bowers, John R. Kemp, J. C. Evans, D. M. Hilliard, and Geo. W. Griffey are hereby appointed a board of trustees and body-politic, and as such. shall have perpetual succession; may contract and be contracted with, sue and be sued, plead and be impleaded, and Chairman. Powers. as such may purchase, hold, and receive, by gift, grant, or § 3. Said board of trustees may purchase lands, not to ex- § 4. Said board may appoint one of its members chairman, and a majority of said trustees shall constitute a quorum to do business; and when a vacancy in said board may occur from any cause, it shall be the duty of those remaining in office, or the survivor of them, to fill such vacancy or vacancies within ten days thereafter. Said board may appoint a secretary and treasurer; may require bond, with security, from the treasurer, payable to themselves, for the faithful discharge of such duties as may be required of him by said board in receiving or disbursing any money or thing belonging to said institution. § 5. Said board shall keep a record of all their proceedings of each meeting, to be recorded, read, and approved by the chairman, and attested by the secretary, which record shall be legal evidence in all of the courts of this State. Said board may, at any time, for good cause shown, remove the treasurer or secretary, and put another or others in his or their stead; may make provisions for their salaries, the purchase of stationery, books, etc., necessary to carry out the objects of this section. § 6. Said board of trustees shall have power to appoint a president of said college, and employ such professors as they may from time to time deem necessary, and make such provisions for the pay of said president and professors as they may think proper; and by and with the advice of said president and a majority of the professors of the faculty confer all literary and other degrees conferred by other and similar institutions. 7. All offices created by this act shall be filled by members of the Methodist Episcopal Church, South; and before entering upon their duties, shall take an oath faithfully to discharge their several duties, which oath shall be noted upon the records of said board. The board of trustees appointed 1 by this act shall, before they enter upon their duties as such, take an oath faithfully to discharge their duties; and said. trustees shall hold their office as such until death, resignation, or removal out of the county, subject, however, to be removed by a majority of said trustees for a violation of the rules or by-laws adopted by said board. § 8. It shall be the duty of every trustee, secretary, treasurer, or other officer of said institution, to surrender to their successors any books, papers, money, or other property of. any kind belonging to said college, within ten days after they go out of office. lations. § 9. Said board of trustees are hereby empowered to make Rules and reguall necessary rules and regulations, and pass such by-laws as they may think necessary for the government and successful operation of said institution, not inconsistent with the laws of the United States or this State; may make all necessary regulations for erecting and keeping in repair the necessary buildings and fencing, and laying out and decorating the grounds of said institution; but all appropriations for paying the current expenses of said institution, or expenditure of money for any purpose connected with said institution, must be entered upon their records; a copy of same, certified by the secretary, and indorsed by the chairman of said board, shall authorize the treasurer to pay off the same: Provided, That in no case shall the treasurer pay out money or do any other act as such only upon the order of the board of trustees, passed, signed, copied, and certified as provided in this act; which copies shall be his only legal vouchers in a settlement of his accounts with said board: Provided further, That no deed conveying real estate belonging to said corporation shall pass title until it is signed and acknowledged by all of the members of said board of trustees. § 10. All male white members of the Methodist Episcopal Church, South, over the age of twenty-one years, who shall have resided in Hickman county one year last past, shall be eligible to hold the office of trustee, secretary, or treasurer of said institution. § 11. This act shall take effect and be in force from and after its LS passage. Approved March 25, 1882. |