stock, or to issue bonds in amount sufficient to pay for the same, payable at any period, not exceeding thirty years after the date thereof. Said bonds may be made payable in or out of Kentucky, and shall bear an annual interest not exceeding eight per cent. per annum, payable semi-annually; and may be sold for less than par, if deemed advisable by the company. To secure the prompt payment of said bonds, the company is hereby authorized and empowered to give and execute a mortgage lien upon the property, franchises, rights, and credits of said corporation, and pledge the same as a security for said loan or bonds. 10. The Legislature reserves the right to regulate the rates of freights and passage over the said road hereby incorporated, or any road that it may purchase, lease, operate, or acquire; and to amend or repeal this charter, or the charter of any road bought, leased, operated, or acquired by it. § 11. The said road shall not be liable to taxation for State, county, or municipal purposes until five years after twenty miles of the same shall be completed: Provided, That this exemption shall in no event extend beyond eight years. from the passage of this act. § 12. This act shall be in force from its passage. Approved February 23, 1882. CHAPTER 264. AN ACT to amend the charter of the Chattaroi Railway Company. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the Chattaroi Railway Company be, and it is hereby, authorized to issue either income bonds or preferred stock, or both, to an amount equal to the first mortgage bonds of said company authorized by the charter. § 2. This act shall take effect from its passage. Approved February 23, 1882. CHAPTER 265. AN ACT for the benefit of P. Smith, late sheriff of Madison county. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That P. Smith, late sheriff of Madison county, have the further time of three years from the passage of this act to collect any uncollected fee-bills and any uncollected revenue tax, county levy, or school tax due him, and which he has in anywise accounted for and paid, and said Smith or any one of his late deputies, or any constable of Madison county, shall have the same power for the said time of two years from the passage of this act to distrain, levy, and sell in the collections of any of the said fee-bills and taxes due him and remaining in his hands uncollected, that sheriffs now have for the collection of fee-bills and taxes. But said Smith, and his sureties on his official bond, shall be responsible to any one injured by any illegal seizure or proceedings under the privilege of this act, and the said P. Smith and his sureties shall be subject to all penalties now in force by law for issuing or collecting illegal fee-bills. § 2. The provisions of this act shall not extend further back than seven years from passage of this act. 3 This act to take effect from and after its passage. Approved February 23, 1882. CHAPTER 266. AN ACT to amend an act relating to the Licking Valley Railroad Company, approved April 1st, 1880. Be it enacted by the General Assembly of the Commonwealth of Kentucky: 1. That the title of said act and incorporation, and the name of said company, be, and the same are hereby, changed to "the Cincinnati and Southeastern Railway Company." § 2. All acts heretofore done, and all liabilities incurred, and all obligations assumed by the "Licking Valley Railroad Company," acting under the name of the Cincinnati and Southeastern Railway Company, are hereby ratified, confirmed, and legalized. § 3. This act shall take effect from and after its passage. Approved February 23, 1882. CHAPTER 267. AN ACT to incorporate the “Rockcastle Mining and Lumber Company." Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That Nathaniel L. Limpkins, jr., .Richard M. Broas, Henry E. Jacob, Joseph E. Gay, and John F. Hager, and their associates, are hereby created a body-politic and corporate, under the name and style of the Rockcastle Mining and Lumber Company," and as such body-corporate shall have, among other powers, the following: 1. Perpetual succession. 2, To sue and be sued by the corporate name. 3. To have a common seal, and alter the same at pleasure. 4. To render the shares of stockholders transferable, and prescribe the mode of such transfer. 5. To establish by-laws, and make all rules and regulations deemed expedient for the management of its affairs, not inconsistent with the Constitution or laws of this State or of the United States. § 2. The capital stock of said corporation shall be one million dollars, but may be increased by the board of directors to five millions of dollars, divided into shares of one hundred dollars each. § 3. The corporators named in the first section of this act, or any three of them, are hereby appointed commissioners to receive subscriptions of stock in said corporation, and they may open books therefor in the city of Ashland, Kentucky, and at such other points in and out of the State, and keep them open for such time as they may deem expedient. Lands in this State may be accepted in place of cash as subscriptions to the capital stock of this corporation. § 4. The business affairs of said corporation shall be managed by a board of not less than five nor more than thirteen directors, to be chosen by the stockholders, and the directors. from their number shall elect a president, and may appoint. such officers and agents as are deemed necessary by them in the management of the corporate affairs. The first board of directors shall be the corporators named in the first section of this act, and they shall continue in office until their successors are elected by a majority in interest of the stockholders. § 5. The said corporation shall have authority to purchase and lease mineral and timber lands and rights, and to sell, rent, or operate the same; to mine coal and other minerals to manufacture lumber and fabricate wooden and metallic wares; to purchase, erect, equip, or operate mills, machine. shops, founderies, and furnaces; to transport and dispose of its products; to construct, equip, and operate telegraph and telephone lines; to purchase and build roads, railroads, tramways, inclines, and wharf-landings, and to equip, maintain, and operate same where essential or advantageous for the transaction of its business; to build bridges, constructed so as not to prevent navigation, and to maintain and use same; to purchase or consolidate with connecting railroads now built or projected, or which may hereafter be constructed; to purchase, lease, or construct buildings and boats, and to sell, rent, equip, maintain, or use same; to transport freight and passengers upon its own roads, railroads, and boats, and to charge and collect payment for such services at rates not exceeding tariff which may be prescribed by general laws of this State: Provided, That none of the powers conferred by this section convey any privilege to construct roads or railroads, excepting within the valley of the Big Sandy river and adjacent thereto. § 6. Said corporation shall have power to borrow money at an interest not exceeding six per centum per annum, and to pledge and mortgage its property, or any part thereof, to secure payment of money so borrowed, and may issue bonds, payable at such time and place and in such manner as the board of directors may order: Provided, That bonds so issued shall not exceed in amount the capital stock of the corporation. $7. Whenever it shall be necessary for said corporation to have, use, or occupy any land, material, or other property in the construction or location of roads or railroads, or repairing same, or the construction or repair of works or buildings necessary for said corporation, it shall be lawful for it, by agents, engineers, and surveyors, to enter upon and take possession thereof after the donation, purchase, or due condemnation as provided in this section; but all lands, material, or other property thus taken by the said corporation, and not donated to it, shall be purchased of the owners thereof at a price to be mutually agreed upon, and in case of any disagreement with the owner as to the price of any land, material, or other property so required, or if owner is under any disability in law, or from any cause whatever, to contract, or absent from the county in which the property may lie, then the said corporation may have the same condemned to its use in the manner required by the tenth section of an act, entitled "An act to incorporate the Chattaroi Railway Company," approved 11th March, 1873, and for that purpose all the powers, exemptions, rights, privileges, duties, and restrictions of said section of the act aforesaid conferred and imposed upon the said Chattaroi Railway Company, its officers, agents, and servants, are hereby extended to, conferred upon, and made a part of the charter of this corporation. § 8. Shares of stock in said corporation shall be held to be personal property, and pass as such; and the private property. of the stockholders shall be exempt from the corporate debts. 9. This act shall be in force from its passage. Approved February 24, 1882. CHAPTER 268. AN ACT to incorporate the Cumberland Railway Company. Be it enacted by the General Assembly of the Commonwealth of Kentucky: $1. That W. W. Sawyers, N. A. Chamberland, John A. Black, W. B. Anderson, Green Elliott, and Thomas J. Wyatt, and their successors, associates, and assigns, be, and they are hereby, created a body-politic and corporate, by the name and style of the Cumberland Railway Company; and by that name shall have perpetual succession, and may contract and be contracted with, sue and be sued, plead and be impleaded, in any and all courts and tribunals as a natural person. Said company may have and use a common seal, and may alter the same. § 2. Said Cumberland Railway Company is hereby vested with the power and authority to construct, own, and operatea railway or railroad from any desired point on or near the Southeastern boundary line of the State of Kentucky, in the county of Bell, to any point on the line of the Knoxville Branch of the Louisville and Nashville Railroad, or the Kentucky Central Railroad, or the Cincinnati Southern Railroad, and to connect with either or all of said roads, and to build such extensions and branches as the said company may deem |