first, 1909, and one-third thereof shall be due and payable on July first, 1910. Itemized ac The said Board of Regents shall submit to the next count to be regular session of the General Assembly an itemized submitted. account and statement of the expenditures made for the purposes herein named, which account and statement shall be properly certified and audited; and if any of the funds hereby appropriated remain unexpended after the additions and improvements to said Normal School herein authorized have been made, the same shall be returned to the State Treasurer by the said Board of Regents. and fifty thous dollars tucky State § 3. That the sum of one hundred and fifty One hundred thousand dollars, or so much as may be necessary andpriated stopthereof be, and the same is hereby appropriated for Western Kenthe benefit of the Western Kentucky State Normal Normal School. School, Bowling Green, Kentucky, for the erection and equipment of a suitable dormitory for the accommodation of male students; also for the erection and equipment of a suitable dormitory for the accommodation of female students; also for the erection and equipment of a suitable Science Hall; also for the erection and equipment of buildings for additional class rooms; also for the erection and equipment of a building for library and laboratories; also for the necessary repairs and equipment of the present buildings of said Institution. be erected. All of said buildings shall be erected upon the Building may grounds owned by said Institution, or upon such grounds as may be acquired by purchase by the Board of Regents of said Institution. grounds may be If, in the judgment of the said Board of Regents, Additional the purchase of additional grounds may be necessary purchased. for the accommodation of the new buildings herein contemplated, or for the proper conducting of said school, they may make such necessary purchase and pay for same out of the money herein appropriated. The title to such real estate shall be made to and held by the Commonwealth of Kentucky for the use and Architect. benefit of said school. The said Board of Regents is vested with a sound discretion as to the order of construction and as to the location of the improvements herein set forth, or in giving preference to such other improvements as will best promote the best interests of the school, provided that the total expenditure shall not exceed the amount herein appropriated. The said Board of Regents shall appoint a competent architect or architects to prepare, under their direction, plans and specifications for the buildings aforesaid, and shall contract with responsible parties for the erection and equipment of same. All contracts under this act for material and labor, or for the erection of any and all buildings and improvements, and for the equipment for the same for the purposes mentioned in this act, shall be let to the lowest and best bidder after the same is duly advertised for ten consecutive days in a daily paper published in Bowling Green, Kentucky, having the largest circulation, or for four consecutive weeks in the weekly paper published in said city, which, in the judgment of the Bond by the said Board of Regents, has the largest circulation. The successful bidder or bidders in each case shall enter into bond with the Commonwealth for the benefit of said Normal School in a sum not less than twenty-five per cent of the contract price or sum for the completion of the work in the manner and within the time set out in the contract or contracts, and manner and time set shall be fully and in detail set out in said contract. successful bid der. The money hereby appropriated shall be paid to the Treasurer of said Normal School, from time to time, as the improvements contemplated in this act may require; and it shall be the duty of the Auditor of Public Accounts to draw his warrant or warrants upon the Treasurer of the State in favor of the Treasurer of said Normal School for an amount or amounts as said Treasurer of said Normal School may, countersigned by the State Superintendent of Public Instruction, certify to him from time to time is necessary and needed in carrying out the provisions of this act. Provided, however, That onethird of said appropriation shall be due and payable on December first, 1908, one-third thereof shall be due and payable on July first, 1909, and one-third thereof shall be due and payable on July first, 1910. Account and General Assem The said Board of Regents shall submit to the next statement to be regular session of the General Assembly an itemized submitted to account and statement of the expenditures made for bly. the purpose herein named, which account and statement shall be properly certified and audited, and if any of the funds hereby appropriated remain unexpended after additions and improvements to said Normal School herein authorized have been made, the same shall be returned to the State Treasurer by the said Board of Regents. Twenty thousand dol appropriated to versity. § 4. That in order to provide additional income to meet the additional annual expenditures of each of lars annually said Institutions respectively, the additional sum of the State Unitwenty thousand dollars is hereby appropriated for the current fiscal year, and for each succeeding year for the benefit of the State University and the same is directed to be paid by the Treasurer of the State to the Treasurer of the State University upon warrant or warrants issued by the Auditor of Public Accounts who is hereby directed to draw and issue said warrants for the purpose aforesaid. Twenty thousand dol ated annually State Normal That the additional sum of twenty thousand dollars is hereby appropriated for the current fiscal year lars appropri and for each succeding year for the benefit of the to Eastern Eastern Kentucky State Normal School, and the same School. is directed to be paid by the Treasurer of the State to the Treasurer of the said Eastern Kentucky Normal School upon warrant or warrants issued by the Auditor of Public Accounts, who is hereby directed to draw and issue said warrants for the purpose aforesaid. $30,000.00 ap propriated an ern State Nor That the additional sum of thirty thousand dollars nually to West is hereby appropriated for the current fiscal year and mal School. for each succeeding year for the benefit of the Western Kentucky State Normal School, and the same is hereby directed to be paid annually by the Treasurer of the State to the Treasurer of the said Western Normal School upon warrant or warrants issued by the Auditor of Public Accounts, who is hereby directed to draw and issue said warrants for the purpose aforesaid. Emergency. $5. WHEREAS, The appropriation herein made for the benefit of the said three State Educational Institutions are needed immediately for the equipment of each to enable them to accommodate the students, and to give proper instructions, an emergency is hereby declared to exist, and this act shall take effect from and after its passage and approval by the Gov ernor. Approved March 16, 1908. Organization of Insurance Companies CHAPTER 6. AN ACT to amend Sections 683 and 684 Kentucky Statutes. Be it enacted by the General Assembly of the Commonwealth of Kentucky: $1. That sections 683 and 684 of the Kentucky Statutes be amended and re-enacted so as to read as follows: "683. When the articles are filed and recorded other than life. as provided, and the corporators desire to proceed to organize such company, they shall publish their intention in a newspaper published (in) the county in which said company is to be organized, or having general circulation therein, published in this State; and when such intention has been published in said paper for two consecutive weeks, they may open books to receive subscriptions to the capital stock, and keep such books open until the amount required by this law is subscribed; or in case the business of such company is proposed to be conducted on the plan of mutual insurance, then to open books to receive propositions and enter into agreements in the manner and to the extent specified in the 684th section and may then proceed to distribute the stock among the subscribers, if more than the necessary amount is subscribed, and proceed to collect in the said capital and complete the organization of the company. When the capital stock named in the charter has been subscribed and paid in, the corporators shall so notify the Commissioner, and shall furnish him with proof of the publication of notice required by this section, and the Commissioner shall then make, or caused to be made, an examination of the company as provided, and issue his certificate authorizing the corporation to commence business, if the requirements of the law have been complied with." duced. § 2. That section 684 of the Kentucky Statutes be amended by striking out of said section the words "one hundred," and inserting the word "fifty," so that said section as amended and re-enacted will read: "§ 684. No stock company shall be incorporated Capital reunder this law with a smaller capital than fifty thousand dollars, which stock shall be divided into shares of one hundred dollars each, nor shall any company on the plan of mutual insurance commence business in this State until agreement has been entered into, for insurance with at least two hundred applicants, the premiums on which shall amount to not less than one hundred thousand dollars, of which at least fifty thousand dollars shall have been paid in in cash, and notes of solvent parties founded on actual and bona fide applications for assurance shall have been received for the remainder. No one of the notes |