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1854.

County court

§ 14. No person shall be charged toll for passing to and from church on said road on the Sabbath day.

§ 15. The county judge of Madison shall levy annually a tax of two cents on each hundred dollars of property to levy tax to in Madison county subject to state revenue tax, for the purpose of building said road, and to continue the same levy until the road is completed.

build said road.

Vote to taken thereon.

lect tax.

§16. Before the county judge carries into effect the last be preceding section, he shall cause a vote to be taken, at the next August election of Madison county, of the persons qualified to vote for members of the general assem bly, and if a majority of those who vote at said election. for or against said measure, shall cast their votes in favor of levying the tax, then he shall order the tax to levied and collected.

§17. The tax so levied shall be collected by the sheriff Sheriff to col of the county as other taxes, and be by him paid over to the treasurer of said company, deducting therefrom two per centum for his services, and he shall give to each per son paying said tax a receipt therefor, which shall entitle the holder to that much stock in the corporation, and shall operate as a certificate of stock, and shall be assignable. § 18. All the dividends at any gate on said road shall be applied in aid of the construction and repair thereof, until the same is completed.

Tax payers

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§19. After the road is completed the net profits thereof shall be paid, pro rata, semi-annually, to the stockholders in said road.

$20. The work on the road shall be commenced at Richmond and extended on to the county line.

§ 21. Any person who shall pay to the treasury of said road, in any one year, more than his tax aforesaid for that overpaying to year, shall have a credit on his tax for the succeeding years for the amount so paid, and interest thereon from the time of payment.

have credit.

When tax to fall due.

§22. The tax authorized to be levied shall fall due and be distrainable on the first of May in each and every year, and the sheriff of the county shall on the first day of October in each year pay over said tax to the treasurer of said

road.

§ 23. A majority of said commissioners or directors shall constitute a quorum to do business.

Approved March 1, 1854.

CHAPTER 379.

AN ACT to change the place of voting in district No. 1, in Owen county.
Be it enacted by the General Assembly of the Commonwealth
of Kentucky, That the place of voting in district No. 1, in
Owen county, is hereby changed from Lee's mill to the
storehouse of John C. Glass, in said district.
Approved March 1, 1854.

CHAPTER 381.

AN ACT providing for the improvement of the State Road leading from
Stauford to Somerset.

1854.

Who to super. intend improve,

scriptions therefor."

To receive sub

And the same.

expend

§1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That John S. Murphy and Elisha Per- ments. kins, of Lincoln county, and Elisha Dungans and Robert C. Harris, of Pulaski county, be and they are hereby appointed commissioners who, or a majority of whom, shall take charge of and superintend the improvement of that part of the state road leading from Stanford, in Lincoln county, to Somerset, in Pulaski county, which lies between the terminus of the Stanford and Hall's Gap turnpike road, at Hall's Gap, in Lincoln county, and Somerset, in Pulaski county; and that said commissioners immediately proceed to open books for subscription to the improvement of said road in the counties of Lincoln and Pulaski, and so soon as the subscription of $400 in Lincoln county and $800 in Pulaski county is made, they shall cause the same to be expended on said road, (according to the subscription of each county,) either by grading or otherwise, as in their judgment seems best for the improvement of said road; they shall have power to change said road and place it on better ground, and for that purpose they shall have all the powers of obtaining the right of way, which is now, by the general laws of this state, vested in regular turnpike road companies. Said commissioners shall report to the county court of their respective counties, the fact that said money has been expended on said road, and in what manner of improvement, whether by grading portions of said road or otherwise; and upon their report being made, it shall be the duty of the county court of either of said counties to cause a gate to be erected on said road, within five miles of the county line of said counties. The said commissioners shall appoint a gate keeper, who shall take an oath and enter into bond, with security to be approved by said commissioners, in the penalty of one thousand dollars, conditioned for the faithful discharge of the duties incumbent upon him as gate keeper, who shall be subject to removal at the discretion of said commissioners. He shall His duties. also renew his bond every year he may continue in office. He shall, if required, make settlements monthly with said commissioners or their successors, and at every such settlement he shall pay over to the commissioners of each county the funds that may be in his hands, according to the amounts subscribed and appropriated by them in their respective counties, and take and file their receipts for the same. He shall be permitted to retain, out of the said funds, his salary, which is hereby fixed at $100 per year. He shall exhibit and file annually his monthly settlements and receipts in the county court of each county, for its inspection, and subject to its correction or approval.

er.

Toll gate keep

1854.

Commissioners

§ 2. The said commissioners, before entering upon their duties, shall enter into bond in the county court of their to te bond., respective counties, in the penalty of two thousand dollars, conditioned for the faithful discharge of the duties imposed by this act; which bonds shall be taken to the common. wealth of Kentucky for the benefit of said counties,

Certain road

hands placed un

CO issioners.

§3. That the amounts subscribed by the respective counties, and the profits arising therefrom, shall be applied to the improvement of said road in each county, according to their respective rights, as soon as received. And that der control of the boundaries of hands now allotted to the several survey. ors of said road in each county, be placed under the control of the said commissioners as soon as they commence the improvement of said road under this act, who shall be vested with the same powers and subject to the same penalties and restrictions that surveyors of roads now are, except in such cases as are otherwise provided and expressed in this act. All vacancies by resignation or otherwise of the commissioners shall be filled by the county courts of the counties aforesaid. The commissioners shall be allowed, out of the funds arising from the tolls on sail road, the sum of one dollar per day for their services while engaged on said road.

County courts may appropriate

money to said roid.

§4. That the rates of toll at the gate aforesaid shall be the same rates now allowed by law for five miles of turnpike or plank road within this state.

§ 5. That all laws coming within the purview of this act shall be and are hereby repealed.

§ 6. That the county courts of Lincoln and Pulaski, a majority of the justices of said counties concurring, may and they are hereby authorized to appropriate a sum or sums of money not exceeding four hundred dollars for Lincoln and eight hundred dollars for Pulaski county, for the purpose of improving said road under the provisions

of this act.

§ 7. That the General Assembly hereby retains the right to amend, alter, or repeal this charter at any time.

Approved March 1, 1854.

Commissioners to receive sub

scriptions.

CHAPTER 382.

AN ACT to incorporate the Deposit Bank of Lexington. §1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That William A. Dudley, Charles S. Bodley, James H. Hanna, John B. Wilgus, and Richard A. Buckner are hereby appointed commissioners to obtain subscriptions to the stock of the corporation hereinafter created, who, or a majority of them, may meet at some convenient time and place in the city of Lexington, (of which two weeks previous notice shall be given in two of

the newspapers published in said city) at which time they may open books and receive subscriptions to the stock of said institution, and shall keep them open, two hours daily, for at least three successive days.

1854.

§2. The capital stock of said institution shall be not Capital stock. less than fifty thousand dollars nor more than three hundred thousand dollars, divided into shares of one hundred dollars each; which shares shall be personal estate, and shall be transferable only on the books of the company in such manner, and subject to such regulations, as the board of directors may prescribe.

3. At the expiration of said three days, or as soon thereafter as the sum of fifty thousand dollars shall have been subscribed to the stock of said institution, the books of subscription may be closed and delivered to the subscribers, who shall thereupon constitute a body politic and corporate, by the name of the Deposit Bank of Lexington; Corporate name and they and their successors shall so continue for the term of thirty years; and, under the restrictions hereinafter prescribed, may contract and be contracted with, sue and be sued, plead and be impleaded, and exercise the other powers usually incident to corporations.

and powers.

Election of didirectors..

Annual meet.

§ 4. Upon the receipt of the books of subscription, the subscribers, or a majority (in value) of them, shall meet and elect four persons, (who shall be stockholders) to serve as directors of said institution until the first Monday in January following and until their successors shall be elected. The annual meetings of the stockholders of said bank shall thereafter be held on the first Monday in January of ings. each year; but meetings may be called at any time by any number of persons holding one-third (in value) of the stock upon giving similar notice to that prescribed in the first section hereof; and in all meetings of stockholders, each person shall be entitled to one vote for each share of stock held by him. The directors shall hold their offices for one year and until their successors are elected, but may be removed by any regular or called meeting of the stockholders. They may choose one of their number, or of the other stockholders, as their president; may appoint a secretary, and such other officers as they may require, fix their compensation, prescribe their duties and take bond and security for the faithful discharge thereof; may prescribe the manner and terms of paying in the stock, and shall have the general control of all the affairs of the bank.

§ 5. The directors shall annually appoint two or more stockholders to attend and hold the annual election.

§ 6. At each annual meeting of the stockholders, a committee shall be appointed, who shall, at least twice in the year, examine into and report upon the condition of the institution; which report shall be filed in its office, and remain subject to the inspection of all the stockholders.

Powers of di rectors.

1854.

corporation.

§ 7. The business of said bank shall be to receive monBusiness of the ey and bank notes on deposit, (and it may allow the depos itor such interest thereon as may be agreed upon;) to deal in gold and silver coin, bullion, bills of exchange, and promissory notes, (but it shall not buy or discount promissory notes at a rate of discount exceeding that allowed to the Northern Bank of Kentucky ;) to buy and sell the stock of other companies, and the bonds of this state or of the United States; but it shall not issue notes or bills, or certificates of deposit or any other instrument intended for circulation as money. All promissory notes purchased or discounted by said bank, payable at the same or at any other banking institution in this state, shall be put on the footing of foreign bills of exchange. The directors shall annually or semi-anuually declare dividends of the profits arising from the business of the bank.

depositors.

§ 8. The said bank shall receive on deposit any sum Who may be offered during banking hours, if not less than one dollar; and infants and femes covert may deposit therein and may control the deposit so made, unless restrained by some competent tribunal. Should any person make a deposit in said bank, and be refused payment thereof on demand made for the same according to the terms of deposit, and without lawful excuse, said bank shall forfeit and pay to the depositor the full value or amount of his deposit, with damages at the rate of fifteen per cent. per annum for the detention, to be recovered by suit in the Fayette circuit

May hold necessary real es

tate.

court.

§ 9. The said bank may purchase, hold, sell, and convey any real or personal estate that may be necessary to carry into effect the objects of its creation and no other; and it may receive conveyance of such property as may be proper or necessary to secure any debt due it, or which may be sold for the payment of any such debt.

§ 10. This charter, and all privileges and rights therein How charter granted, shall be forfeited by any violation of the provis may be forfeited. ions thereof by any of the officers of the institution, and the failure upon the part of the officers or refusal by them to pay any tax imposed upon the capital stock of the insti tution by the general laws of this state shall also work the forfeiture of this charter. The circuit courts of Fayette and Franklin county shall each have jurisdiction to try and declare the forfeiture thereof, upon the petition of the attorney for the commonwealth at any time, or upon the petition of, or by scire facias sued out by, the attorney general when directed to do so by the governor for the time being or by the general assembly, fully setting forth and stating the acts of forfeiture complained of.

11. The general assembly reserves the right to examine into the condition of affairs of the institution by any person or persons, or committee selected or appointed for that purpose, at any time, and in such manner as the gen

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