§ 4. No person other than a property-holder along the line of such road, as reported by said commissioners, shall be deemed eligible as a director. § 5. The said directors, when so elected, shall proceed to select one of their own number as president and another as treasurer of said company, whose duties, powers, and obligations shall be such as are conferred and imposed by the provisions of the general turnpike laws of this Commonwealth. § 6. The said commissioners appointed under the first section of this act shall, upon the election of the president and directors of said road, as herein before provided, proceed to assess a tax upon all the property reported by them to the said court, as before provided, for the purpose of constructing or completing the turnpike thereon; such tax to be levied in proportion to the benefits to accrue to such property as, in the opinion of said commissioners, may be equitable and just; but said tax shall in no case exceed three dollars upon the one hundred dollars' worth of property; and when such assessment is made, it shall be returned by said commissioners to the said county court to be approved by said court. § 7. When the assessment shall have been made as herein provided, and approved by the county court, the said treasurer shall proceed to collect the same, and for that purpose shall have the powers and privileges conferred upon sheriffs by the laws of this Commonwealth; but before proceeding to collect the said taxes, he shall execute bond for the full amount of said tax so levied, with good and sufficient security, to be approved by the county court, and conditioned for the faithful performance of his duties; and the said bond shall be filed in the county court clerk's office. § 8. The said president and directors shall have power to appropriate the money arising from the taxes levied and collected to the construction or completion of the said turnpike road. 9. The president and directors shall have power to receive and apply to the construction of said turnpike road such subscriptions as the county court is authorized under the general turnpike laws of this State to subscribe stock in turnpike roads, and shall be authorized to erect toll gates upon said roads and collect toll thereon as provided for by the general VOL. I-LOC. L.-21 1876. 1876. turnpike laws of this State: Provided, That no person shall be compelled to pay toll on said road who has paid the tax levied on him by the provisions of this act. § 10. The county court is hereby authorized to make appropriations, as in the case of other turnpike roads built in said county. § 11. Whenever a projected turnpike road, to be built under the provisions of this act, runs parallel to another turnpike road within said county, and within an average distance of less than one and one half miles thereof, the assessment of property, as herein provided, shall not be made for more than one half the distance between said roads. § 12. The election for president and directors of any turnpike road constructed under this act shall take place annually. § 13. Certificates shall be issued by the secretary to each person for his or her tax when paid; and upon presentation of such certificates in sums of not less than fifty dollars, stock in said company shall be delivered by said treasurer. § 14. At all elections for president and directors, other than the first one held under this act, each stockholder shall vote one vote for each fifty dollars' worth of stock owned or held by such person. § 15. Stock may be voted by proxy; but no person other than a stockholder shall be entitled to vote except it be when acting as proxy. § 16. Any road commenced under the provisions of this act, whose length is not less than five miles, the president and directors, and their successors in office, shall not be compelled to complete said road in less than five years unless an amount shall be realized to complete said under the provisions of this in a shorter time. In that case it shall be their duty to cause said road to be completed without delay. § 17. This act to take effect from its passage. Approved February 16, 1876. CHAPTER 184. AN ACT concerning the joint expenses of the county of Jefferson and city of Louisville, Kentucky. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the county of Jefferson and the city of Louisville shall pay for water, lights, and fuel for the county jail under their contract, as it now exists for joint expenses, or under any contract that may hereafter exist between said county and city to defray the joint expenses of said county and city. § 2. This act to take effect from its passage. Approved February 16, 1876. 1876. CHAPTER 185. AN ACT for the benefit of the sureties of Jno. F. Tyler, late sheriff of WHEREAS, Jno. F. Tyler, late sheriff of Fulton, died without having collected all of the revenue and county levy of Fulton county for the years 1873 and 1874, and was largely in default both to the State and county, which has been set. tled and paid off by his sureties, Madison Adams, T. D. Barnes, and H. A. Tyler; and whereas, B. R. Walker was, and has been, appointed, qualified as his successor as sheriff of said Fulton county, with the express understanding that he was to and should collect said arrearages of tax for the years 1873 and 1874; now, therefore, Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That said B. R. Walker, sheriff of Fulton county, Kentucky, be, and he is hereby, empowered, authorized, and directed to collect all of said taxes and county levy as are in arrears; and for said purpose is hereby vested with all the powers possessed by the late sheriff, Jno. F. Tyler, when liv. ing, to enforce their payment. § 2. That all of said taxes, less his commission, which shall be the same as would have been allowed by law to Jno. F. Tyler, shall, when collected by the said B. R. Walker, bet paid over to the said sureties, Madison Adams, T. D. Barnes, and H. A. Tyler. 1876. § 3. That said B. R. Walker shall be allowed until the next annual meeting of the court of claims in and for Fulton county in which to collect said taxes and pay over the same, at which time he shall make out and submit to said court of claims the delinquent list for the year 1873 and the year 1874, upon which they are directed to act as if they had been regularly submitted in 1873 and 1874. § 4. That should the said B. R. Walker fail to collect any part of or all of said taxes, or pay the same over as directed herein, the said Madison Adams, T. D. Barnes, and H. A. Tyler may institute at common law an action in the Fulton circuit against the said B. R. Walker for the recovery of whatever amount may be in arrears; and the said Fulton circuit court is hereby vested with jurisdiction over such proceedings. § 5. This act shall take effect and be in force from and after its passage. Approved February 15, 1876. CHAPTER 186. AN ACT for the benefit of Stephen Nethercutt, late sheriff and collector of the revenue of Carter county. WHEREAS, Stephen Nethercutt, sheriff and collector of the revenue taxes due the State in the county of Carter for the year 1874, by reason of pecuniary embarrassment existing in said county, and the many financial failures therein, failed to collect said revenue, and there was a judgment rendered at the June term, 1875, of the Franklin circuit court, in favor of the Commonwealth of Kentucky against said Nethercutt and the sureties in his official bond, for the sum of $4,857 76, with interest thereon at the rate of ten per centum per annum from the first day of June, 1874, until paid, being the balance due by said Nethercutt on the revenue due the State, on a settlement of his accounts on the first day of April, 1875; the penalty of ten per centum interest on said sum by law, relating back to the first day of June, 1874 (the time when the tax books for said taxes were placed in his hands for collection), by reason of his failure to collect and pay over said revenue on or before the first day of April, 1875; and said Nethercutt having, since the rendition of said judgment, paid into the Treasury a large portion of the same; therefore, Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the interest adjudged against said Stephen Nethercutt and his sureties, by the judgment of the Franklin circuit court, at its June term, 1875, in favor of the Commonwealth of Kentucky, from the first day of June, 1874, to the first day of April, 1875 (the time that said revenue was payable into the Treasury, being $404 81 interest before due), be, and the same is hereby, remitted, and not to be collected off of said sheriff or his sureties on the payment of the residue of said judgment. 2. That this act shall take effect and be in force from and after its passage. Approved February 17, 1876. CHAPTER 187. AN ACT establishing a bank of deposit in the town of Grayson, Carter county. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That there is hereby established a bank of deposit in the town of Grayson, Carter county, with a capital not to exceed one hundred thousand ($100,000) dollars, in shares of one hundred dollars each, to be subscribed and paid for as hereinafter specified; and the subscribers, their associates, successors, and assigns, shall be a body-politic and corporate, by the name and style of the "Grayson Banking Company," and shall so continue for the term of twenty years from its organization; and shall be capable of contracting and being contracted with, of suing and being sued, of pleading and being impleaded, and of answering and defending, in all courts and places whatsoever; it may have a common seal, and change and renew the same at pleasure. § 2. Said bank shall be managed and controlled by a board. of directors, each of whom shall be a stockholder and shall be elected annually; and, after the first election, shall be elected on the first Monday in March of each succeeding year thereafter, and shall hold office until their successors are elected and qualified; at all elections, each stockholder shall 1876. |