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Oath.

duties of said office, and to pay over all money which may come to his hand as such treasurer, upon the order made by said county court, and entered upon its order-books. Before entering upon the duties of his office, said treasurer shall take an oath to faithfully discharge his duties, and to account for and pay over all moneys as herein directed. For any breach or neglect of duty upon his part, he and his sureties shall be liable to the suit of said county. The county court shall have power to remove said treasurer for any breach or neglect of duty as such, and appoint another person in his stead, to whom the removed treasurer shall pay over at once all moneys which may have come to his hands as treas

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§ 5. It shall be the duty of said county court, at the same time the claims against the county are published annually, to cause to be published, in connection therewith, the number, amount, and date of the bonds issued, and the names of the persons to whom sold, and the amount for which they weresold.

6. Wherever the term county court is used in this act, it means the county court composed of the county judge and a majority of the justices of the peace of said county.

§ 7. It shall be the duty of the sheriff of said county to collect said turnpike tax at the same time and in the same manner he collects other county taxes, and pay the same over to said treasurer on or before the first day of May in each year, the sheriff and his sureties on his county levy bond shall be responsible for any neglect or failure of duty upon the part of said sheriff under the provisions of this act. § 8. This act shall be in force from its passage.

Approved February 18, 1882.

CHAPTER 231.

AN ACT to incorporate the Louisville Coal and Coke Company. Be it enacted by the General Assembly of the Commonwealthe of Kentucky:

1. That John Henry, Clarence Sale, William Egelhoff, Solomon McCollum, Henry Krupp, J. P. McCollum, George Hoertz, W. T. Pyne, J. K. Leahy, and Martin Berger, are hereby created a body-politic and corporate, under the name

of the Louisville Coal and Coke Company; and by that name have power and authority to contract and be contracted with, to sue and be sued, to plead and be impleaded; to have a common seal, and alter same at pleasure. They shall have the right to purchase, hold, lease, and work any lands deemed useful or necessary for the prosecution of its business; also to acquire such real or personal estate as is useful or requisite for the same, and it may at any time sell, exchange, mortgage, or convey said estate, or any portion thereof, and, purchase other. Said company shall have full authority to make railroad connection with main line of any railroad adjacent to their mines: Provided, Said road shall be constructed on the land belonging to said company. They shall have power to erect and maintain all needed elevators, shed, depots, floats, and boats; to buy, sell, and mine iron and coal, or other mineral substances; may carry on milling and manufacturing, and dispose of the products. The principal places of operating and carrying on its business will be at Central City, Muhlenburg county, Kentucky, at the crossing of the Chesapeake and Ohio and Southwestern and Owensboro and Nashville Railroads, and in the city of Louisville, Kentucky.

2. The capital stock of said corporation shall be one hundred thousand dollars, divided into shares of one hundred dollars each; but may commence business when eight thousand dollars shall be subscribed as stock, with the privilege of increasing the same to meet the demands of its business by a vote of its stockholders, but to make said increase a majority of the stocks shall be voted therefor; the said stock to be divided into shares of one hundred dollars each, to be paid in upon calls in such way, and at such times and places, as ordered by the board of directors.

§3. The business and affairs of said corporation shall be managed by a president and board of directors. The directors shall be chosen annually by the stockholders, on the third. Tuesday in January of each year, who shall continue in office until their successors are duly elected and qualified. The president shall be chosen from the directors, and no one shall be qualified as president or director unless he is an owner of stock in said company. In said elections a majority of the stock voting shall control, and the vote may be cast in person or by proxy. There shall be five directors chosen at the first.

annual election, and the number may afterward be increased to seven by the by-laws of said corporation.

84. The said board of directors may have the power to appoint and dismiss any officer or agent at their pleasure in the conduct of the business of said corporation; and may require of said agents or officers bonds for the security of a faithful discharge of duty, and to account for all money or property which may come to the possession or under the control of said agent or officer belonging to said corporation.

§ 5. Said president and directors shall have full power to make such by-laws, rules and regulations, for the conduct of its affairs as they shall deem fit; and for regulating and controlling its officers and agents, not in conflict with the Constitution of the United States or the Constitution and laws of the State of Kentucky.

6. That by a vote of the majority of the stock the said corporation may have the right to borrow money to the amount of not more than one half of the capital stock paid in, and issue the bonds of said company or corporation in such sums, and payable at such times and places, as may be agreed, and for the security and payment of said bonds may mortgage any or all property of said corporation to the party or corporation from whom said money is borrowed, or to any other person; and said bonds may be made to draw interest at any rate not to exceed ten per cent. per annum, if so agreed, and the same shall be valid in law.

§ 7. Said company may contract with its employes and tenants occupying its real estate, or any portion thereof, that leaving the service of the company, or being discharged therefrom, shall terminate such tenantry of such tenant; and such contract shall be deemed lawful and may be enforced by writ of forcible detainer after ten days' notice to quit.

8. That until the first annual election herein provided for, five of the corporators herein named, to wit: Sol. McCollum, Henry Krupp, William Egelhoff, George Hoertz, and John Henry shall hereby be constituted the directors of said corporation, and shall hold their office until their successors are duly elected and qualified; and ten days' notice of each annual election shall be given by publication in one of the daily newspapers published in the city of Louisville, Kentucky; and said election shall be held at the principal office of the company in Louisville, Kentucky.

9. The shares in said corporation shall be deemed personal estate, and transferable in such manner as said corporation shall by rules and by-laws prescribe.

§ 10. The private property of the stockholders shall be exempt from corporate debts of said corporation.

§ 11. Be it further enacted, That this act shall take effect and be in force from and after the date of its passage.

Approved February 18, 1882.

CHAPTER 232.

AN ACT to authorize the county court of Clark county to appoint commissioners to sell and convey the old jail property in said county.

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

1. That the county court of Clark county, a majority of the justices in said county being present and voting thereon, is authorized to appoint two commissioners, and to invest said commissioners with authority to sell and convey the old jail property in said county. The sale may be made publicly or privately in the discretion of the commissioners, and subject to the approval of said court. Said property is situated in Winchester, Kentucky, fronts upon the public square, runs back to Fairfax street, and is the same now used as a county jail, and must be duly advertised before it is sold. Said commissioners will not make deed or convey any title to said property until the whole of the purchase price has been paid to the treasurer of said county.

2. This act to take effect from its passage.

Approved February 18, 1882.

CHAPTER 233.

AN ACT to authorize the Madison county court to issue bonds, and provide for their redemption.

WHEREAS, At an election duly held on the 25th of June, 1881, the qualified voters of Madison county agreed that stock should be subscribed for and on behalf of said county to the amount of two hundred thousand dollars in the Kentucky Central Railroad Company, and the county court of said county was authorized to provide for the payment of the

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amount subscribed by the issue of county bonds, or in any other way provided by law; therefore,

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

§ 1. That the Madison county court, composed of the county judge and a majority of the justices of said county, be, and they are hereby, authorized and empowered to issue the bonds of Madison county, with interest coupons attached, to an amount not exceeding two hundred thousand dollars; of denominations of not less than five hundred dollars nor more than one thousand dollars, payable to bearer at a place designated in the order issuing same, fifteen years from their date, but redeemable at the pleasure of the county court after five years from their date, bearing interest at the rate of six per cent. per annum, which shall be paid annually when due, on the presentation of the coupons at a national bank to be des ignated by the county court of said county.

2. The said county court of Madison county shall prescribe the form of said bonds, which bonds, and the coupons attached, shall be signed by the county judge and attested by the county clerk, and it shall be the duty of the said county court to make the necessary arrangements for the annual payment of the interest on said bonds and for their final redemption.

3. To enable the county court, composed of the county judge and a majority of the justices of Madison county, to comply with and carry out the provisions of this act, it is hereby authorized to levy an annual tax of not exceeding one dollar on each poll, and not exceeding fifty cents on each one hundred dollars' worth of taxable property assessed for State revenue in said county.

§ 4. The taxes levied under the authority of this act shall be collected by the sheriff of Madison county; but before he shall be authorized to collect such tax he shall execute bond, with sureties approved by the county judge of Madison county, conditioned that he will faithfully and promptly collect and pay over to the proper person or persons authorized to receive the same, and within the time prescribed, all taxes levied under this act which may be intrusted to him for collection, and the sheriff or other officer collecting said taxes shall receive the same compensation as is allowed by law for the time being for collecting the State revenue; and if any

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