1872. bonds. capital stock of said association, not exceeding fifty thou sand dollars. § 5. The said association, in its corporate capacity, shall have power to sue for and collect any subscriptions heretofore made, or other demands justly due them, as folly as though the same had been contracted after the passage of this act. § 6. That it shall be lawful for the president and directMay bor- ors of said company, from time to time, and at all times, How money on to borrow or obtain on loan, or upon bonds which may be issued by them, bearing a rate of interest not to exceed ten per cent. per annum, such sums of money as they may deem necessary and expedient for the use of said company or association; and to pledge or mortgage all or any part of the estates, improvements, privileges, or effects and assets of said company for the repayment of said sums of money as may be obtained, whether by loans or upon bonds sold, at such time or times as may be agreed upon. §7. Said company shall have, possess, and enjoy all rights, powers, and privileges and immunities conferred by law in this State upon any other company or associa tion chartered for similar purposes. § 8. This act to take effect from its passage. Approved Marchı 2, 1872. S thorities of CHAPTER 396. AN ACT to amend an act, entitled "An act to incorporate the Frankfort, Be it enacted by the General Assembly of the Commonwealth of § 1. That whenever the said Frankfort, Paris, and Big Upon request Sandy Railroad Company shall request the county judge tfonier auf of any county, through or adjacent to which it is proposed towns, cities, to construct said road, or the common council of any city, shall order an or the board of trustees of any town, authorized by the subscribing act to which this act is amendatory, to take stock in aid Counties, &c., election as to stock. company, to subscribe, either absolutely or on specified conditions, a specified amount to the capital stock of said company, the county judge, common council, or board of trustees so requested, shall forthwith order an election to be held at the several voting places in said county, city, or town, on a day to be fixed by the judge, mayor, or chairman of the board of trustees, not later than thirty (30) days nor earlier than twenty days after the making of said order, and shall appoint judges and other officers necessary to hold said election: Provided, That if a majority of the votes cast at said election shall be adverse 1872. Railroad to receive tax re ceipts for freight shipped over road. to the proposed subscription, then the cost of said election shall be paid by said railroad company: Provided further, That not more than one election shall be held under this act, nor that to which this is amendatory, in any city, town, county, or precinct, without further legislation: Provided further, That no election shall be held in any county, wherein said company have operatives engaged in the actual construction of their road, without the consent of the county court of said county: Provided further, That in any proposition submitted under this act, this condition shall be inserted: That in lieu of certificates of stock to be issued to the county, city, or town, or the people thereof, as provided in the act to which this is amendatory, the company, upon the payment of the subscription made, shall file with the presiding judge of the county court, or the mayor of the city, or the chairman of the board of trustees, its obligation to accept at par, in payment of charges for all freight shipped from, or received at, the several depots or stations in said county, city, or town, the tax receipts issued to the citizens of said county, city, or town, for taxes levied and collected to pay the said subscription. Said tax receipts, however, shall not be so receivable until five years shall have elapsed after the completion of said railroad; and no sale or lease of said road shall affect the obligations hereby imposed on said company; but any holder of tax receipts may, at his option, upon presentation of said receipts, in ceive stock for any sum not less than fifty dollars, receive therefor a certificate of stock for the amount presented, as provided in the act to which this is amendatory: Provided further, That the subscription of the county of Bourbon shall not exceed ($400,000) four hundred thousand dollars, not more than five per cent. of which shall be made payable prior to the running of trains upon said road from the point of its junction with the Lexington and Louisville Railroad, at or near the city of Frankfort, to the eastern line of Bourbon county, and then not more than one half of said subscription shall be made payable, and the remainder shall not be payable until trains are running upon said road to the Big Sandy river, or to its point of junction with one that is in operation to that river. § 2. The appointment of officers to conduct said election, the holding thereof, and whatever pertains thereto, including the counting of the vote, shall be made and done as provided in the act to which this is amendatory; and if it appears that a majority of those voting vote in favor of the subscription as proposed, the county judge, mayor, or chairman of the board of trustees, shall order the vote to be entered on their respective records, and shall execute and deliver to the company the obligation Holder may, tax receipt. If vote is favorable, such authorities. shall subscribe said stock. 1872. of the county, city, or town to pay to the company, on the terms specified in the order submitting the question to a vote, the amount subscribed. In the event the amount is payable in installments, there shall be a separate obliga tion for each installment. These obligations shall be signed by the county judge, mayor, or chairman of the board of trustees, attested by the clerk of the county court, common council, or board of trustees, but shall not bear interest before maturity, and shall not be delivered to the company until their obligations to accept tax re ceipts in payment of freight, or in exchange for stock certificates, as hereinbefore provided, shall be executed and filed with the county judge, mayor, or chairman of the board of trustees. § 3. Whenever any county, city, or town, shall vote a Buch authori- subscription to the Frankfort, Paris, and Big Sandy Railties to issue road Company, and issue their obligations to said comment for stock. pany, as provided in preceding section, the presiding bonds in pay Jevied to pay bonds. judge of such county, the mayor of such city, or the chairman of the board of trustees of such town, shall pay such obligations upon presentation at their maturity, by the issue and delivery to said company of the bonds of such county, city, or town, of the denomination of not less than ($100) one hundred dollars, nor more than ($1,000) one thousand dollars, with coupons attached, under the seal of such county, city, or town, the bonds of the county to be signed by the presiding judge and countersigned by the county clerk, and the coupons to be signed by the clerk alone. The bonds of the city so subscribing shall be signed by the mayor and countersigned by the city clerk or auditor, and the coupons shall be signed by the clerk or auditor only. The bonds of towns subscribing shall be signed by the chairman of the board of trustees and countersigned by the town clerk, and the coupons shall be signed by the clerk only. Such bonds shall be negotiable and payable to bearer in the city of New York or in the city of Louisville, at not more than thirty (30) years from their date, and shall bear interest at a rate not greater than eight (8) per cent. per annum, payable semi-annually in the city of New York or the city of Louisville: Provided, however, That the character of the bonds issued, and the time of paying the same, shall be stated fully by said railroad company in the prop osition which is submitted to the qualified voters of any county, city, or town. § 4. That in case any county, city, or town shall issue Tax to be bonds as provided in the foregoing section, a tax sufficient to pay the principal and interest of the same shall be levied, collected, and used, as provided in sections fifteen (15), sixteen (16), seventeen (17), eighteen (18), nineteen (19), twenty (20), twenty-one (21), twenty-eight (28), and twenty-nine (29) of the act to which this is amendatory. 5. None of the provisions of this act shall affect the validity of the subscription heretofore voted to said company by the county of Scott. The company may, however, in their discretion, submit to the voters of that county a proposition in accordance with the provisions of this act, with a condition inserted, that the acceptance of the same by a majority of the qualified voters of said county, and the payment of the same, shall operate as a release to said county from the subscription heretofore voted to said company. § 6. This act shall take effect and be in force from its passage. Approved March 4, 1872. 1872. CHAPTER 397. AN ACT for the benefit of Sulphur Well school district, in Jessamine county. WHEREAS, It appearing to this General Assembly, by a petition of a majority of the tax-payers in the limits of school district known as Sulphur Well district, in Jessamine county; therefore, Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That by the vote of a majority of the qualified voters of the district known as Sulphur Well school district, in Jessamine county, Kentucky, a tax may be levied on all the taxable property in said district, sufficient to build a school house large enough to accommodate the children of the district. §2. The election shall be held at the Sulphur well on the first Saturday in April, 1872, under the direction of the school trustees for that district, who will act as a building committee, and as such, may determine the amount to be voted for, not to exceed eight hundred dollars. § 3. This act shall take effect from and after its passage. Approved March 4, 1872. CHAPTER 398. AN ACT to amend the charter of Augusta, in Bracken county. Be it enacted by the General Assembly of the Commonwealth of Kentucky: §1. That the charter of the city of Augusta, in Bracken county, be, and the same is hereby, so amended, that when 1872. ever any hotel keeper in said city shall make application to the council thereof for a license to sell spirituous, malt, or vinous liquors, and shall make the proof now required by law in such cases, the said council shall grant the license, upon the payment of any sum that may be fixed by said council, not exceeding the sum of one hundred dollars. § 2. That this act shall take effect from and after its passage. Approved March 4, 1872. CHAPTER 399. AN ACT to change the name of the Hopkinsville Coal, Iron Mining, and Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the corporate name of the Hopkinsville Coal, Iron Mining, and Manufacturing Company, be, and the same is hereby, changed to the Bex Mountain Coal, Iron Mining, and Manufacturing Company. § 2. This act shall take effect and be in force from and after its passage. Approved March 4, 1872. CHAPTER 400. AN ACT to amend the town charter of New Market, in Marion county. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the corporate limits of the town of New Market, in the county of Marion, is hereby extended as to include the residence of John J. Cushing within said corporate limits. § 2. This act shall be in force from its passage. Approved March 5, 1872. CHAPTER 401. AN ACT for the benefit of school district No. 26, in Ohio county. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the county court of Ohio county, upon the ap plication in writing of a majority of the trustees, of school district No. 26, in Ohio county, shall cause a poll to be opened in said school district, at such time and place, and |